Super brokers, are automated valuation models (AVMs) part of your practices? If not, they should be. Here is why.
As a super broker, you need value to attract potential brokerage owners. That value can, of course, be monetary, but it also comes in the form of resources, support, tools, and more.
Many mortgage brokers want to be part of a network that will help them be successful. The key to this success? Tools.
Using the right mortgage broker tools is critical in this regard and can directly contribute to higher closing rates and more closed deals.
AVM integration is a perfect example of a tool that can significantly help your brokerages.
Most mortgage lenders use AVMs in their processes. AVMs allow lenders to confirm vital property information before the deal progresses too far. While AVMs often do not replace a full property appraisal they are an important part of the underwriting process.
By providing your brokerage locations with access to the most accurate and current AVM data, the agents will be empowered to know more about the deals they are working on — and to know it faster.
Even better, if your brokers are using the same AVM tools as the lenders they are working with, this will help facilitate alignment and communication.
To make this happen, look for AVM providers who also work with major financial institutions. This means that you will be more likely to access the same property data and achieve stronger alignment in your higher-level lender relationships.
For instance, at Purview we provide AVM tools for both Canadian mortgage brokers and mortgage lenders — including major financial institutions — that uses accurate, up-to-date, complete, and easy to access property data.
By using a tool like Purview, both your brokerages and the lenders they work with could access the same AVMs to have more nuanced conversations sooner in the process.
The broker-lender relationship is critical to improving closure rates. Find alignment today with Purview’s property tools. Call 1-855-787-8439 or visit www.purview.ca.
Purview is just one of Teranet’s Financial Services Solutions; stay tuned for our upcoming portfolio unveiling!