Buying a home is typically the largest financial investment a household makes. And yet, buyers often begin their home search with a foggy idea about how much they can afford to pay or whether they’d be better off renting instead—which can result in wasted time, frustration and fear.
So how do homebuyers know whether it’s the right decision for them to buy right now?
The guidance usually comes from licensed real estate professionals, who not only act as real estate tour guides and home inventory access providers, but also as financial advisors with the ability to guide their clients to properties that match their needs and desires, that fit within their financial situation and goals, and that will give them long term gain on their initial investment.
To that end, real estate brokers need a specific analytical tool that will help them answer the main challenging questions on the mind of every homebuyer.
And this is exactly what we’ve developed for our client—a national brokerage company. An easy-to-use financial tool that enables loan officers, mortgage brokers and real estate agents to act as financial consultants to homebuyers and borrowers during the buying/origination process—Thereby speeding up the process.
The tool provides answers to questions such as:
- What can the buyer afford to buy or rent?
- Is the buyer better off buying or renting?
- Should the buyer borrow money or pay cash?
- How much should the borrower put down?
- Which mortgage should the borrower choose (loan term, points and fees, interest rates)?
The user-friendly tool enabled our client’s brokers to produce—quickly—fully branded, customizable and professional reports in a format that homebuyers can understand. And understanding builds trust.
Helped our client rise above the competition by acting as a financial advisor to homebuyers, rather than merely being perceived as a real estate tour guide.