What to consider with two intermediaries

Hello dear all,

I have a question again.

Today we were at a large nationwide broker.
He put together a possible financing concept for us (it's not quite finished yet), showed the conditions of various banks in his system, and gave us a personal offer with the cheapest bank.
So far so good...

At the beginning of the conversation, we were asked if we had already been to a bank ourselves or wanted to go to one, then he would not inquire there. We said that we still wanted to go to a second broker, a smaller one that only operates here in Nbg. The large broker then said: "I can understand that (it's about a lot of money) but be aware, the small broker does not have a system like ours. The small broker always has to inquire at all banks at the same time and then the conditions of the small broker are stored at the bank for you, and I (the large broker) no longer get better conditions for you..."

I don't know what to make of that. Can that be true? If so, should we even go to the small broker?

Thank you very much in advance

I have also been to 2 brokers and inquired separately at my house bank (Sparkasse).

The large broker offered us several options from the beginning and stated the terms and conditions.

The second, somewhat smaller broker asked about the terms of the first broker and had to admit that he could not even come close to the terms of the first. The advisor even started to partly doubt the terms of the first until I showed her the offers.

And my house bank asked if the broker had already given me terms from the Sparkasse. I confirmed this, and the gentleman said that I would not get a better offer.

In the end, we signed with broker 1 today.

I was also with 2 brokers and separately inquired at my main bank (Sparkasse).

The large broker offered us several options and conditions from the beginning.

The second, somewhat smaller broker asked about the conditions of the first broker and had to realize that he couldn't even come close to the conditions of the first. The advisor even started to partly not believe the conditions of the first until I showed her the offers.

And my main bank asked if the broker had already given me conditions from the Sparkasse. I confirmed this and the gentleman said that I would not get a better offer than that.

In the end, we signed with broker 1 today.

So you told the second broker: Broker xy gave me the offer, what would your conditions be?
Do I understand that correctly?

But can it be true that by inquiring with a second broker the conditions from the first get worse?
I somehow can't believe that. I've read here often that someone was with two or even more brokers, that would be totally pointless if that were true.

Doesn't the broker also have to explicitly tell you with which bank he is making a condition inquiry? After all, personal data is being passed on to third parties.

Doesn't the intermediary also have to explicitly say at which bank he is making a condition inquiry? After all, personal data are passed on to third parties

If it is an intermediary with a platform; then not. You can see the conditions and the scoring from more than 100.

Even small intermediaries usually have access to such a platform

So you told the second broker: Broker xy made me the offer, what would the conditions be with you? Am I understanding that correctly?

But can it be true that by making an inquiry with a second broker the conditions from the first one get worse? I somehow can’t believe that. I have often read here that someone was with two or even more brokers, it would be totally pointless if that were true.

Doesn’t the broker have to explicitly tell you with which bank they are making a condition inquiry? After all, personal data is being passed on to third parties

They tell you the conditions based on the given parameters. The personal data is not transmitted at first. So initially, the offers come only based on how much credit with how much equity, repayment, interest rate fixation, etc.

With broker No. 2, I initially said nothing, then the offers came and then I said that I got better conditions with No. 1. But No. 2 also had banks that No. 1 did not have. So it could have also worked out with better conditions.

Only after deciding on an offer is the concrete credit inquiry made. We decided on an offer, submitted income documents, etc. and now the whole thing is with the bank requested bindingly for review.

If it is an intermediary with a platform; then no. You can see the conditions and the scoring from more than 100.

Even small intermediaries usually have access to such a platform

So he does NOT have to tell me that he is making condition requests somewhere with my name?