RISMedia's Real Estate Magazine

MAR 2017

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/790164

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Page 51 of 118

RISMedia's REAL ESTATE March 2017 47 It's good to have a trusted, reliable lending resource to point clients to. Many larger offices, of course, have affiliated mortgage services that provide a great option for agents and buyers alike. But constructing a transparent, compliant arrangement requires a lot of work and a scale of business generally beyond the reach of mid- and small-sized real estate brokerages. A new player on the mortgage scene aims to change that. Nothing Like It Motto Mortgage, the second mem- ber of the RE/MAX Holdings family of brands, launched last October. The idea behind it is simple, but revolu- tionary—and there's nothing quite like it in the industry. Motto Mortgage is an innovation connecting a real estate brokerage office to a separate mortgage broker- age office. The two businesses oper- ate independent of one another, but together can offer clients a stream- lined process of finding a house with the help of a real estate agent and securing financing with the help of a loan originator. In the Motto Mortgage scenario, agents—if they choose—are able to confidently recommend a resource in proximity whom they know and trust. The concept provides a one- stop solution for buyers/borrowers who want convenience, clarity and choice. Many Options Motto Mortgage loan originators have access to a wide variety of loan options and the incentive to keep the process on track and moving smoothly. The usual traps that can derail sales during the loan process—lack of communi- cation, slow response times, mis- aligned processing systems, diver- gent priorities, etc.—can be replaced by crisp execution and a mutual in- terest in serving the client. The result is the right home and the right loan—without the typical headaches. Compliance can be a major con- cern among real estate brokers who worry that referring clients to a mort- gage broker will land them in hot wa- ter. And sheer complexity, along with the necessary investment of time and money, has made aligning with a mortgage brokerage unfeasible for most mid- or small-sized real estate companies. But with an out-of-the-box system that simplifies the process and helps with setup, licensing and branding, Motto Mortgage reduces the costly barriers of entry and offers efficiency to brokers and transparency to bor- rowers—at firms of any size. Offices Opening by Q2 As with any innovation, Motto Mort- gage will take some time to grow. The first Motto Mortgage offices should be open by the second quar- ter of this year. By adding "mortgage broker" to their "real estate broker" role, the entrepreneurs leading these offices will be able to cover a longer stretch of the home-buying process. Ultimately, homebuyers them- selves will determine whether Motto Mortgage becomes the game chang- er many believe it will be. If buyers see meaningful value in the time they save, the loans they secure, the outcomes they reach, and the service they receive from the profes- sionals involved, well…the sky's the limit. RE Geoff Lewis is president of RE/MAX, LLC. For more informa- tion, visit www.remax.com. Innovative Concept Serves the Consumer by Geoff Lewis E very day, in real estate offices across the country, agents working with buyers inevitably reach the point when it's time to talk about financing the purchase. {Business Building}

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