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  • Writer's pictureScott Peckford

The Costco of Mortgage Companies


I personally love shopping at Costco. I don't mind the long lines, or looking for parking. I love it because I love their business model. 


Costco is a high-volume, high-value, and low-margin business. A full 72% of their revenue comes from membership fees. 


They are an anomaly in the retail industry. When Costco first launched, they threatened the status quo, and many retailers tried to have them shut down. 


Requiring membership was a way to get around manufacturers’ suggested retail pricing, as Costco was not initially designed as a revenue centre. 


Like many things in life, it is only in retrospect that some decisions, which look like genius, were simply lucky. 


This week, on my 10-minute tactical podcast, I share what I think is the Costco of mortgage companies.*


I share why I think BRX Mortgage is going to continue to grow and disrupt the current models by building a high-volume, high-value, and low-margin mortgage company. 


 

*  This episode is actually 14 minutes long. Although I really tried to condense it, I had a lot to share. If you want to find out more about what we are doing at BRX, check us out here.

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janetlaluk
May 27
Rated 5 out of 5 stars.

Scott's the best. So glad I joined BRX.

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