REALTORS: Take the Advantage
Sure, taking loan applications and approving loans is the business of mortgage lenders. But home sales and home financing go together naturally. Your client, buyer or seller, expects you to be the expert in the transaction...and the transaction is almost always two transactions: the sale and the mortgage. Especially, they expect instant and accurate cost estimates.
THE INTERPRETER is mostly a financed transaction structuring and estimating tool. What makes it a totally unique technology, however, is its ability to generate transaction scenarios by "working backwards" from given constraints (i.e.; total cash to close, total monthly payment, seller payment or seller's net). Especially when working with buyers, this unique ability makes it very simple to pinpoint and communicate the buyer's maximum purchase power. It also allows you to instantly communicate the bottom line for every listing you show and every offer or counter offer. Most importantly, it allows you to freeze the buyer's most critical constraint (cash or payment) and meet your customer's needs.
To be accurate, THE INTERPRETER relies on lender-provided loan structuring guidelines, quoted lender rates, fees and closing costs. It also contains analytics that help buyers/loan applicants choose the best loan program and rate-cost combination based on their tax bracket and expected term of ownership.
To use THE INTERPRETER for Realtors®, you
must be "sponsored" by a licensed lender-user. Licensed
lender-users may choose to issue you a sub-license at no cost to
you because it's also an "advertising tool" for the lender. (It
advertises the lender's name and loan programs to prospective
buyers, through you.)
Here is how REALTORS can utilize THE INTERPRETER:
Working with buyers:
Working with sellers:
Working with your Loan Originator:
Structured transaction files may be emailed back and forth between you and your loan originator. Both you and your loan originator will look very professional when the buyer sees that your transaction cost estimates match exactly!
Need an automated underwriting (AUS) decision while your client is waiting? Email the transaction file and put your client on the phone with your loan originator. Your loan originator can instantaneously import the transaction file data into the lender's loan origination system, add your client's name, address and SS# and immediately obtain the AUS decision...No long interview required!
Less apparent, but also vitally important, when you first use THE INTERPRETER in the presence of your client to explore the client's cash and monthly payment preferences, you immediately introduce the fact that "all depends on your financial qualifications" (without actually saying so). Thus you create the perfect opportunity to both introduce your lending partner and motivate your buyer to immediately apply for the mortgage. Needless to say, you are also dazzling your client with your extreme knowledge of financing (artificial knowledge provided by the program)!
Also, when you have THE INTERPRETER you can transfer your listing records to your loan originator for posting on House-Payments.com. See the House-Payments.com page to learn how this can benefit you.
Take the Advantage!
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