The mortgage industry is rapidly evolving. Things are changing fast and brokers and agents are feeling it. This is why agents and brokers want to work with super or parent brokers who can help them grow and excel.
You can find a number of discussions on LinkedIn groups about what agents and brokers are looking for in a super broker. All the answers usually have one central theme – support.
As a super broker, you need to focus on delivering value to current and prospective brokerage owners to help them succeed.
What Support Can You Offer?
In addition to arming them with the industry knowledge and insights, you can also provide them the tools they need to:
- Source prospects and identify opportunities. This is where you can provide them sales and marketing support.
- Source their financing. This is where you can help them with relationship building.
- Qualify individuals for financial products. Here you can provide them your industry knowledge.
- See the deal to fruition. This is where you can provide them your underwriting expertise.
If you represent a super broker, you likely do a great job at helping agents or brokers market themselves – you offer them microsites, provide social media training, help them in developing referral relationships, and more.
You work hard to ensure that they have a base of lenders that offer competitive compensation.
What if we tell you that there are opportunities to do more?
For instance, how do you help your agents and brokers pull more deals out of their current client base? How do you support them in identifying upsell opportunities sooner? How do you enable them to increase their closing rates? How do you aid them in preventing deals that are problematic from entering the underwriting funnel?
Provide Them the Right Tools
Leveraging technology and using the right mortgage broker tools can help.
Automated Valuation Model (AVM) integration is a perfect example of a tool that can help your brokers and agents. For instance, by utilizing the Purview AVM technology, your agents and brokers can:
- Assess the property value and ascertain if a homeowner has over or under-estimated the value of their home. This can weed out bad deals or uncover more equity.
- View all registered mortgages to assess the value of the asset in relation to the debt against it.
- Identify undisclosed mortgages on the property.
- Discover if there are any other people on the title.
All this information can be obtained almost instantly through the Purview AVM. Providing these capabilities to your agents and brokers will mean that they:
- Can identify new opportunities by looking at past deals.
- Have a valuable new marketing tool.
- Improve lender relationships.
- Strengthen underwriting – saving valuable time and resources by identifying problem deals at the application stage.
All in all, an AVM can set the stage for the success of your agents and brokers.
Implementing tools and technology to help your agents and brokers thrive will lead to more business and better closure rates. It will also strengthen relationships with all stakeholders involved in the mortgage underwriting and closing process.
Purview’s AVM tools are accurate, up to date, and easy to access. Learn more about our solutions by calling 1-855-787-8439 or visiting www.purview.ca.
What do you think are the most important considerations for a broker or agent when joining a super brokerage? Share with us on social media. Purview is on Facebook, Twitter, and LinkedIn.
