BeachesMLS, operated by Broward, Palm Beaches & St. Lucie Realtors®, has announced an exclusive partnership with RetroRate, a South Florida-based intelligence platform designed to help Realtors® and homebuyers unlock the advantages of properties with assumable loans. These loans let qualified buyers take over a seller’s existing mortgage at its original interest and terms, often lower than today’s market rate.
BeachesMLS says that it’s the first and only MLS in the country to offer this technology. Once the buyer finds their perfect home, RetroRate’s concierge service helps facilitate the transaction to closing while keeping Realtors® and homebuyers in the loop every step of the way.
“Our mission has always been to provide our members with forward-thinking resources that help them stand out in a competitive market,” said Dionna Hall, CEO of BeachesMLS. “Through partnerships like RetroRate, we’re giving Realtors® data-driven tools that help them better understand evolving factors such as the mortgage lock-in effect and guide consumers toward smarter, more confident homeownership decisions.”
Through this partnership, BeachesMLS users will now have streamlined access to RetroRate’s data and software, enabling Realtors® to identify listings with assumable loans and provide buyers with financial advantages in their home search.
The company claims RetroRate empowers buyers by helping them secure assumable loans at rates 2-3% below market through its AI-powered RetroMatch™ loan scoring, side-by-side loan comparisons and website integration via widgets and APIs. For sellers, RetroRate’s Listing Prospector identifies properties with good assumable loans, while its marketing tools and concierge team of loan officers help Realtors® win more listings and successfully close transactions.
“Today we have the highest mortgage rates in a generation, buyers have lost hundreds of thousands in purchase power on the average home, and sellers are locked into their existing homes with monthly payments far less than what they’d pay today for the same home,” said Andy Taylor, co-founder and CEO of RetroRate. “Yet at a time of record unaffordability, assumable loans, the key to scoring a rate at 4%, 3% or even 2.5%, remain invisible on nearly all MLSs, brokerage sites and real estate portals.”
He continued, “We’re proud to partner with BeachesMLS, who recognize that shining a spotlight on these loans, right when they’re first entered into the MLS, is a way to help their agents get more homebuyers into homes.”
The RetroRate technology will be integrated directly into Flexmls. Users will be able to create quick searches for listings with assumable loans and access more information at the top of the listing detail page by clicking the RetroRate button. BeachesMLS subscribers will also receive email alerts from RetroRate when an applicable new listing is added to the MLS. If the listing includes an identified assumable loan, the listing agent will be notified.
Broward, Palm Beaches & St. Lucie Realtors® says this partnership reflects the brand’s mission in adopting innovative technology that empowers Realtors® and reinforces the essential role they play in every transaction to homebuyers and sellers throughout the home-buying process.
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