The real estate and mortgage industries are becoming more intertwined. For example, Better.com has announced a real estate platform, Quicken Loans is offering a home search, and many other joint ventures are being created between real estate and mortgage companies across the country with the goal of driving more purchase volume.
The traditional partnership works like this:
The mortgage company leases space or has a vested interest in the real estate brokerage.
The mortgage company assigns a loan officer to man the desk a few days a week.
The loan officer hopes to have a few meaningful minutes of face time with the agents that might show up.
Maybe the loan officer gets a few looks at contracts and closes just enough referrals to justify the time and effort of the relationship.
The problem is agents don't come to the office, buyers don't just walk in the door, and nobody really wants to sit at a desk all day. All the traffic and interest is happening online and within the real estate search portals or agency website platforms.
The solution is to present your mortgage company digitally and get into the conversation as early as possible. This is what we call the “top of the funnel": when a new buyer is searching for their next home. This has to be done in a meaningful way that adds value to the potential buyer, the real estate company, and positions the mortgage company as an innovative lender.
BankingBridge has built the first mortgage calculator and monthly payment API that allows mortgage companies to position themselves directly on the individual listing pages. This provides instant value to the home buying prospect by offering a monthly payment that is directly correlated to the list price of the home. These payments are served up in real time and based on real-time mortgage rates from the mortgage company.
The monthly payment amount serves as a link that opens a full mortgage calculator. This allows the user to drill down further into their total monthly payment.
These key features are building value between the user and the real estate company. The real estate company is now offering useful tools that keep users interacting with the site without having to leave your site in search of more information on a competing real estate platform. The mortgage company is building trust with the user and entering their home buying process much earlier.
By choosing “Get My Custom Offer” the user opens a lead workflow questionnaire presents the user with live rate offers based on their selections. You are now collecting leads in a more efficient and meaningful way for your loan officer team and real estate partnerships.
In conclusion, any mortgage company that has deep real estate, homebuilder, or joint venture partnerships can utilize this mortgage calculator to capture more leads for both sides. There is a more effective way to position your mortgage company into the home buying process. Maximize ROI with the BankingBridge real estate partner mortgage calculator.