A real estate marketing firm has created an on-line service where mortgage loan officers and Realtors have the ability to connect with their homebuyer clients and collaborate during the process.
The service is called ProHomeLink.com, said Michael Licamele, founder and chief executive of Eastwood Realty Systems, Newtown, Conn. He compared the system to social marketing sites like Facebook and LinkedIn, adding it goes beyond just connecting the users " to actually giving home buyers personalized, interactive experiences that cement relationships with loan officers and Realtors during the home search process."
He gave an example of how ProHomeLink.com works. A buyer who finds a home often holds off making an offer until he or she can find out how much cash they will need at closing and what their exact monthly housing payment will be. Further delays may result waiting for pre-approval letters from loan officers. With ProHomeLink.com, the Realtor can get exact answers and create pre-approval letters instantly to get offers in ahead of competing buyers.
A loan officer can use ProHomeLink.com to give homebuyer clients and Realtors 24/7 access to create their own mortgage pre-approval letters and run unlimited home purchase scenarios.
"There are originators and Realtors spending hundreds or thousands of dollars per month to generate new home buyer leads but are spending zero to convert those leads to closed transactions," said Licamele. ProHomeLink.com seeks to bring the three parties together to turn that around.
To use the system, loan officers sign up, create custom pre-approval templates and input current interest rates to get started. Then they invite Realtors and homebuyers to connect with them.
While the system is free for Realtors and homebuyers, loan officers have to pay $24.95 per month subscription fee. But there are no start-up fees and no long-term contracts required.
