RateShop Inc. Employee Review
Not as advertised
you are expected to generate your own business. There is no "storefront". If someone was to call or go "online" they, management, will keep the client, they do not assign the client to an agent.
Ratings by category
no income to start, will take years to build
From all the brokerages out there, you will learn the business here. Their 1st 5 files are paid at 50% but unlike others the underwriters actually jump on with you on every file and guide you. They’re picky about the documents but I guess so are all the lenders nowadays. Rates are excellent, have a tone of lenders. Technology is unbeatable. Their tools are awesome, I’ve never seen those options anywhere before. They won’t babysit you, you have to get your own leads and convert. Help is there but not for marketing. I got moved on to 90/10 in just 3 deals. In-house lending is quick and good competitive products.
Knowledgeable, true to their word, helpful
Mississauga office only, desk fees, pay separate for leads
I think Rateshop has advanced technology for new agents, it’s a good place to start for newly licensed mortgage agents... and like everywhere else it’s 100% commission based. It’s just a pity I couldn’t continue due to personal reasons but I would certainly go back if I get the chance