1. How much will he earn in total from the deal?
2. How much will he actually earn in commission from the mortgage lender?
3. Will he split the lenders commission in half with you for giving him the deal?
4. If not, why not?
5. Will he pay you a fee for introducing or referring other people?
6. If not, why not? Your introductions could have worth thousands of dollars to him! 7. Does he get any other additional incentives from lenders for placing the deal with them? ie. sports tickets, concert tickets, etc
8. If he does, would he split them with you?
9. Will he pay you a trail fee every year, for not cashing in your insurances you got through him? If you cashed them in, his responsibilities will be "clawed back".
10. Ask, Ask and Ask again!
The great thing about this is that you, almost by default, have opened up a whole new career for yourself just by introducing friends, family and co-workers to your mortgage advisor.
It is easy to think that you will get your mortgage from any old broker without giving it too much thought, however the extra time and effort in preparing for this will enable you to benefit in the long run.
Remember this, they are DESPERATE for sales and the resulting commission and I guarantee that every advisor you deal with will be begging to do a deal. At the end of the day, they are salesmen and women and they will do anything possible to make that sale.