Bank of Canada Decreases Rate by 0.25%

The future of mortgages

Why mortgage brokers love
working at nesto

IMAGINE logging in to work at 9am, with a day full of pre-scheduled calls with pre-approved applicants who have not only completed a full mortgage application but have also already selected their preferred mortgage rate and product. Your goal, within that call, is to ensure the desired mortgage is suitable to your client’s lifestyle, current and future. Simply put: less selling, more advising. Is this even real?!

For anybody who’s line of business involves teamwork and technology, a scenario like this one might sound familiar, but for most traditional, independent mortgage brokers, this idea is simply a fairytale. See, until recently, except for a couple of technical improvements, the mortgage industry hadn’t evolved that much for a good 100 years. There is still a lot, I mean, A LOT of paperwork involved, a whole lot of underwriting and administration tasks, depending on each lender’s and insurer’s guidelines,  not to mention the biggest part of a daily routine: prospecting clients! Finding good business, whether it is through online presence, networking, publicity or email, is key when you’re a mortgage broker, but it’s also the most time-consuming part of the job. Again, would you believe me if I told you there was a way to keep doing what you love the most without all of the administrative, time-consuming tasks, and especially, without having to take a cut out of your own paycheck to offer the absolute best rate via a buydown?

For Chase Belair, Principal Broker and Co-Founder of nesto, the mortgage industry was clearly ready for a big change. 

“I think that most tech-savvy brokers who genuinely care for others’ wellbeing more than their paycheck have a “nesto” solution in mind to transform their business, but the human and financial resources required to build it are so cumbersome, that it just remains an “idea” or “vision”. Through Diagram’s VC support, nesto was able to come to life in less than 6 months, from day 0. Two years in, our vision is turning into reality and the platform is evolving faster than we ever could have imagined.’


The first key asset here is technology. And technology means efficiency. By developing a user-friendly online system that processes a lot of the information that would usually be collected during a first consultation or phone call. Guiding the future client through every step of the qualification process virtually doesn’t only save time to both the borrower and the advisor, but also a lot of money! The money saved thanks to our modern approach can then be given back to the customer in the form of a better, lower interest rate, for the same mortgage product they could obtain from a traditional broker. 

Since only pre-approved clients make it to the next step, you’ll also end-up working only with prime mortgage customers. And that, for a broker, is a huge time saver. 

Michael Nasra, one of the first brokers to join nesto in 2018 puts it this way: “To me, nesto’s model is a total game-changer. It represents the future of mortgage brokering in the A mortgage space and it feels good to be a part of the first team to do it. It’s great to be part of where the industry is going instead or where it’s been for ages.“

If technology is such a big part of the equation here, it’s because nesto is actually a tech company first, mortgage company second. And that’s also what makes it such a unique business and an interesting one to work at. See, instead of a mortgage brokering agency outsourcing to a tech company every time they need to make any modifications to their system (with the usual delays), everything at nesto can be done in-house by our developer’s department. So let’s say the team members come together with an idea that would make their life way easier. They brainstorm a bit, bring it to nesto’s tech team, who then bring the idea to life! It’s as simple as that. No long delays, no intermediates. Again, technology means efficiency. 

Then there’s the team! Or, should we say, another very good reason why nesto’s mortgage brokers love their job so much: they’ve got help! Ask any of them, they’ll tell you right away – the clerical part of the job is essential, but far from being their favourite! Having an entire team dedicated to supporting you every step of the way is not only priceless, it’s impossible to replicate! From underwriters filing and analyzing your documents, to managers stepping in on the lender’s side and in-house tech support always a phone call away. This idea of collaboration also takes a huge burden off the brokers’ shoulders, allowing them to be more efficient, therefore, handle a much larger volume of files in the same amount of time. So, teamwork also means efficiency!

‘’Brokers are social beings! We love interacting and building a relationship with our clients.  Having such great servicing, document and underwriting support, allows us to spend much more time with people, and less with papers. This way, we can really focus on meeting the clients needs, better and faster.’’ Michael Nasra, broker at nesto.


On top of taking care of all the administrative duties, nesto covers all day-to-day expenses that the independent broker currently pays out of his own pocket (including licensing, appraisals, rate buydowns, etc,). That’s right, nesto buys down 100% of the mortgage rates offered on the advisor’s behalf, to make sure it never comes directly out of their pocket. This means you can offer a full-featured standard mortgage at the same rate as traditional mortgage brokers ‘’restricted’’ mortgage product. All this, without the need to prospect, underwrite or complete any administrative documentation. Your time is spent doing specifically what you love and what makes you shine: Helping borrowers get the best possible mortgage.


Now, how about, making good money, without having to sacrifice everything else in your life?

First,  let’s talk about flexibility. 

The fact that everything at nesto can be done remotely makes life easier for brokers and, more importantly, for clients! If you go back only a few months ago, the necessity and relevance of an online-only home financing service might have been arguable, but the fact is, today, seeing the international health crisis we’ve been through, it doesn’t only seem relevant, but mandatory that people must be able to do as much as possible without leaving the comfort of their home. 

For Josée Racicot, broker at nesto, flexibility also means: better quality of life. 

“What attracted me at first was the business model. As an independent broker and a mother, I had been dreaming of so many ways to improve my day to day workload and efficiency, keeping a good balance between business and life. So when I found out about nesto, a mortgage agency that was building technology to do just that, I thought – If you can’t beat them, join them!”

For independent brokers that are familiar with being available 24-7 to add value for their clients, this means less urgency to answer phone calls at any hour of the day or night, as the customers can verify their application status on their own via the platform, and communicate directly with the nesto UnderWriting Centre for urgent questions, concerns or changes. It also means a complete set of generous advantages and health benefits including stock options and instant access to telemedicine for you and your whole family. With a competitive base salary topped with clear, achievable and uncapped bonuses, your earnings as a salaried broker will end up easily resembling or may even exceed your current revenue. All this, without having to sacrifice the time you spend with your loved ones nor your personal well-being. 

So, there you have it: the perfect balance between great service, great results and livelihood. 

In other words: Less stress and more doing what you love. The Sweet Spot. And that is called nesto!