Guaranteed Rate has launched “Lock it, List it,” a program designed to help real estate agents excel during a challenging home sales market.
“Lock it, List it” provides real estate agents the opportunity to offer home sellers a way to secure a discounted mortgage rate for a prospective buyer so that they can sell more homes, according to a release. As part of securing the property listing, the real estate agent works with the seller and a Guaranteed Rate loan officer to pay a fee and lock in the discounted rate for a buyer. This unique benefit allows the listing and marketing of the home to stand out compared to the competition giving the property a higher likelihood of selling.
“We want to offer real estate agents and their clients the opportunity to lock in a rate that they can market to their potential buyers. In an environment where rates can be volatile, this is a key selling point for a future buyer,” said Jeremy Collett, Guaranteed Rate’s EVP, Head of Capital Markets. “One of the biggest hurdles impacting sellers and buyers is high interest rates. With Guaranteed Rate’s exclusive new program, real estate agents can ensure that their buyers get a discounted market rate on their mortgage. Real estate agents will also have the ability to advertise the program and the lower ‘Lock it, List it’ rates to buyers at open homes and in their listings.”
Collett also noted that “Lock it, List it” will be available for high balance mortgages as well. High balance loans are those that exceed the conforming limits established by the Federal Housing Finance Agency. Collett added, “This high balance feature supports a broad range of markets to assist our valued real estate partners, buyers and sellers in this complex rate environment.”
The home buyer will also have access to Guaranteed Rate’s wide array of loan options and technology, including its Same Day Mortgage™ program which provides a full approval in less than one day.
For more information, visit https://www.rate.com/.