Why do you charge such a small broker fee and do you use a loyalty program?

I actually did not always charge a broker fee, but now I charge it on some of the messier accounts we deal with at roughly around $200. Mainly, I want to earn my business, meaning I don’t want to overcharge people and then scare them off. I also want to do what is right for the customers, and I think $200 is fair for the time, work, and effort we put into it. If there is an account that takes a ton of servicing and work, we may even bump up the broker fee to around $500. My main goal is to do the right thing for my customers every single time, no matter what, so if that means helping them save money and making less money myself, so be it.

I do not use a loyalty program for loan officers and successful leads. A lot of times referral partners will ask me to split a commission and I always tell them no. I will often send them a Starbucks gift card or a thank you card in the mail, but I unfortunately have an agency policy in which I will not split any commission. For big referral partners, I will usually take them out to a nice dinner and buy their meal and drinks or something along those lines.