At Quicken Loans, It’s All Hands on Deck
Time—that’s the biggest value-add that any partner can provide to a real estate agent. For Gil Torres, broker/owner of Exclusive Realty, that’s exactly what he gets by working with Quicken Loans®.
Having been in the industry for more than 15 years, Torres knows the biggest competitive advantage he can provide to his buyers is getting them pre-approved and mortgage-ready before anyone else in the marketplace. And for the last five years, his buyers have been ahead of the game in that respect.
“We ran into this opportunity through the National Association of Hispanic Real Estate Professionals (NAHREP). Quicken Loans wanted to be a little more diversified, and so they teamed up with NAHREP chapters across the country. We came across them and realized the benefits,” says Torres, who, at first, started working with the lender to give his brokerage an edge among Hispanic clients, as they make up more than 50 percent of his business.
But then it became about something bigger.
“We had a huge hurdle: filling a gap of time between looking for homes and putting in an offer,” says Torres. “Then we saw how easy it was to get approved. Everything was streamlined.”
More than that, however, is the time saved because of the dedicated Agent Relations team at Quicken Loans. In the past, Torres was dealing with several different bankers when trying to close transactions—a time suck that overcomplicated the process.
“Trying to get updated letters or responses from bankers, or verifications to listing agents, was nearly impossible,” says Torres of past experiences. But now, he has Chavonne Lawrence, a Quicken Loans Agent Relationship Manager who is assigned to his brokerage and knows the ins and outs of his business.
“If we ever have an issue or need to rework a loan, Chavonne is consistently working with us and is at our disposal for inquiries or updates, even after-hours and on the weekends,” says Torres. “We are dealing with one person who understands how we work. It helps streamline the process, and we are able to get updates from someone right away.”
Even if Lawrence is occupied, there’s a delegation strategy in place that prevents gaps in communication.
“If Chavonne isn’t available, someone else is covering her desk—someone who understands our team, as well,” says Torres.
Since Torres’ clients get pre-approved faster, the transactions close more quickly. It’s a domino effect that’s truly benefitted Torres’ business.
“The biggest thing is the efficiency and the time to get approved. At open houses, we can upload their information and get them approved within a few hours,” says Torres. “We don’t have to say, ‘Meet us in our office’ or ‘Bring in this document,’ which can take three or more days.”
This positive relationship experience also trickles down to the consumer level. Clients are appreciative of the fast service and the timely responses.
“They say it was a very easy process and that it wasn’t drawn out,” says Torres, who adds that they’re now typically closing loans in just 21 days.
For more information, please visit RealEstate.QuickenLoans.com or call (866) 718-9842.
Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at email@example.com.