Agents know the feeling that sets in when buyers comes “preapproved” from an online lender. It’s their job as their trusted advisor to have their best interest at heart and to bring them the information they need to make an educated decision, but you might not know how to explain why they should use Key Mortgage over an online lender.
Keep these in your back pocket for the next time this comes up with a client.
- You can’t text a 1-800 number. Our Key Mortgage loan officers are available to answer questions outside of business hours – typically when our clients need us most.
- Online lenders don’t call listing agents to vouch for your client’s preapproval. Key Mortgage LOs know how competitive it is out there and are happy to call a listing agent to vouch for both your reputation and your client’s secure preapproval. This quick call has been known to instill confidence and win deals.
- Hidden fees and bait and switch rates can blow up deals. Online lenders often attract business by advertising jaw-droppingly low rates or fees. Once your client is through the majority of the loan process, they are informed that they don’t qualify for the advertised rate, or that there were fees that were not accounted for. They could be stuck with a higher rate and a tough decision. Often, at that point, it’s too late to switch lenders and it’s possible that the whole deal blows up.
We hope these help. Reach out to a Key Mortgage loan officer today to strategize on how to introduce your team to your client and how to build a buyer strategy that wins deals.