Editor’s Note: This piece was originally published on July 28, 2021.
Helping homebuyers find and purchase their dream home is only part of finding success as a real estate professional. You also need to continuously assess and expand the reach of your business. Referrals from past clients are a fantastic way to do just that – and it starts by helping each buyer find an independent mortgage broker who can give them a faster, cheaper and easier mortgage experience.
Unlike banks and online lenders, mortgage brokers are required to be licensed and must continuously educate themselves to maintain their license. Plus, they’re based in your community, so they’re readily available to guide you and your homebuyers through the purchase process and help ensure that it’s smooth and easy. That’s important, because the more convenient the process, the happier your buyer will be.
Another key benefit of independent mortgage brokers is that they’re not aligned with a single lender, so they can offer a wider variety of loan options and approval opportunities for your buyers. Finding the right loan for your buyer instead of trying to fit them into one means your buyer feels like a person rather than a number. It’s also how they save your buyer an average of $3,700 within the first 5 years of their mortgage.*
But the advantages go well beyond greater loan options and lower rates. Working with a mortgage broker can have you and your buyer at the closing table in as little as 17 days – two to three times faster than the rest of the industry. And that’s important to remember that because buyers are more likely to refer others to the real estate professional who got them into their new home that quickly.
Mortgage brokers also understand that your clients have lives outside of finding a mortgage. That’s why they always go that extra mile to accommodate you and your buyers by scheduling appointments at times and locations that are convenient for you. That goes a long way in creating a better customer experience.
When you partner with an independent mortgage broker, you’re building a local team that creates more meaningful and enduring relationships with your clients – especially those looking for a more personal approach. They’ll appreciate that you and your partner see them as more than just a transaction, and that can lead to more referrals and a more successful business. Find an independent mortgage broker in your community at FindAMortgageBroker.com.
*Projected average savings based on a 30-year loan of $320,000 with 0.08% interest rate savings and 1% closing costs savings utilizing the wholesale channel.