There are many steps and moving parts in the process of buying a home. It can take a lot of time, planning, and careful strategization in order to ensure that everything goes smoothly and without complications. It should come as no surprise that having a firm handle on logistics is crucial to success when home shopping.
This applies to both the buyer as well as the realtor that is helping them. In fact, it can make the difference between a buyer finding their dream home or having to settle for something less desirable and it can make or break the deal on one’s end as a realtor.
The mortgage is one central component of the buyer’s journey – it is incredibly important for both clients and the real estate agents working with them. This is because the mortgage is directly tied to the buyer’s budget and ability to actually buy a home.
Today we are going to take a look at what that would mean for both agents and clients, highlighting Keller Mortgage, as well as how this resource plays a critical role in the process.
Keller Mortgage provides mortgage services to buyers who are working with Keller Williams agents. A close-knit and effective collaboration between the lender and the agent is able to be cultivated due to the fact that everything is taken care of in-house.
This collaboration helps to streamline the process of getting buyers qualified, pre-approved for funding, and ready to go out to shop for homes. These factors make Keller Mortgage an excellent resource to have available.
Mortgage Pre-Approval as an Essential
But why does a mortgage matter so much to the home-search process? How does the pre-approval fit in?
For a buyer, knowing what your budget is and what you can afford is the cornerstone of shopping for homes. There are many homes to take a look at, and many factors to consider. There are many logistics to figure out as well as the issue of timing.
Because of all these details that need to be considered, definitively knowing what your budget is and what you can afford is something one cannot do without. In fact, one’s budget shapes their entire strategy and the decision-making process.
What Does Pre-Approval do?
Mortgage experts like Keller Mortgage can pre-approve a buyer for an approximate mortgage amount before going out and shopping for a home. This gives the buyer a clear idea of what range they fit into in regard to their budget. This also secures funds so that both the buyer and their agent know the mortgage is available and ready.
In addition, pre-approval:
- Helps you understand what homes to focus on – Filtering out homes that do not fit your needs make the home-search process much simpler.
- Helps you understand what’s available and realistic for you.
- Helps you understand what compromises may need to be made – No home is ever 10/10 perfect, there will always be some tradeoffs between properties. Identifying these tradeoffs early can minimize friction and prevent unexpected delays in the decision-making process.
- Makes logistics easier – With this system one does not need to run around to secure funds in the middle of shopping.
- Saves time – A lot of time can be saved by having funds ready before starting the home search, as opposed to securing funds in the middle of it.
- Makes the offer more appealing and competitive – Not having funds ready makes your offer seem uncertain and shaky. Conditions on offers, such as a mortgage condition, add risk and uncertainty for the seller. Conversely, having everything ready to go makes your offer appealing and competitive in the face of other buyers while the seller decides which offer to take up.
Mortgage Pre-Approval is Essential for Agents
As demonstrated above, identifying the budget through a pre-approval is critical for the buyer’s home-search journey. So how does pre-approval impact the real estate agent?
The answer is quite simple. If the buyer’s budget is established, the home-search process gets streamlined and easier in the following ways:
- You understand what homes to keep an eye out for on behalf of your client.
- You can confirm with certainty that you have a chance at buying the home you go to view.
- There are no surprises, delays, or logistical complications in getting the deal done.
- There are no offers lost out because of logistics or timing, and no unnecessary strain on your relationship with your buyer.
- There are no offers lost out because of the mortgage condition making the property less competitive or less appealing.
The mortgage pre-approval can make or break the success of one’s relationship with the client. It can also make the difference between an easy home search and a difficult one, a lengthy and difficult one or one without complications.
Above everything, the pre-approval can affect the client’s satisfaction, your image to them, and the reviews you receive.
Keller Mortgage – The Go-to Resource for Keller Williams Agents
As agents, it’s a big part of our job to clear the path and guide clients through the home buying journey. Clients trust us to lead the way, create effective strategies for them, and ultimately help them accomplish their goal, which is to get that dream home.
There are many tasks an agent is charged with the responsibility of taking care of. These tasks include many logistical components that rely on other professionals such as mortgage brokers, lawyers, home inspectors, contractors, and many others.
We as real estate agents are not able to directly arrange for loans, but we do have the responsibility to help connect the client with a competent and effective mortgage broker that can help them out.
At all times it is part of our duty to guide the process and navigate obstacles for our clients.
Keller Mortgage is a great resource for this because:
- It is in-house for Keller Williams Agents.
- It is readily available, based on a close-knit relationship between the mortgage broker and the real estate agent.
- It can clear the funding and budget hurdle for an agent’s client. This allows them to focus on doing their part of the job.
Teamwork allows dreams to work.
At the end of the day, all real estate agents owe their clients excellent service and an excellent experience. Thinking ahead, planning, being effective, and clearing hurdles is the way to do this. Keller Mortgage helps clear one very big and crucial piece of the puzzle.