Tools of the Trade: Crunching Numbers

Baird & Warner gets great results with RatePlug software
These days, buyers want to know as much as they can?as quickly as they can?about a product. This rings true for all purchases?especially a home.

With that in mind, Baird & Warner purchased the RatePlug plug-in about a year ago, according to Charles Melidosian, vice president and chief information officer for Baird & Warner. Our Web site activity is up and our customers are spending more time on the site.

RatePlug, manufactured by HandHeld Power and marketed by Fidelity National Real Estate Solutions, plugs into a real estate company?s Web site and performs a search to find out the price and principal mortgage rates for the broker’s listings.

Some 40-50% of larger brokers have some sort of mortgage company affiliation, according to Brad Springer, president of Handheld Power. This provides those companies the opportunity to jointly display their products and services.

Melidosian agrees.

?It’s been great for us because it gives our mortgage company exposure along with our listings,’ says Melidosian. It co-brands our Realtors with their listings and internally, it helps build relationships between our loan officers and Realtors.

It’s very helpful to have the company?s additional products next to each other, he says. And, for the customer, they get to see the numbers side-by-side with the listings.

Adds Springer: ?Tens of thousands of customers are now exposed to Baird & Warner’s mortgage services because of the direct integrated information.?

Melidosian says that having the RatePlug software has also helped in providing enhanced leads for his company. Now, our customers can directly e-mail a loan officer for more assistance; and it’s also increased our call and e-mail volume. It helps us showcase our Realtors? contact information with the RatePlug information.

Overall, the RatePlug has been a big help to Baird & Warner’s agents, according to Melidosian. It’s a three-way win?our agents have more information; we get more information to our clients; and it cuts down on qualifying because our customers can see the rates and prices.

The agents have more positive experiences with the buyers, who are spending more time on Baird & Warner’s Web site playing with numbers. Baird & Warner customers average about seven extra minutes per session view,? Springer says.

According to Larry Spencer, vice president of business development for Fidelity National Real Estate Solutions, there’s also the important additional benefit of selling more homes. This service is viewed in a very positive way by buyers and sellers,? he says. The buyers love being able to look at live payment information and property information at the same time.?

Melidosian says the RatePlug is a natural fit for his company, integrating the listings with the mortgage branch, and creating more of a one-stop-shopping approach. It made complete sense to show total payments on a property,? he says. It’s a great fit for a broker Web site. Stephanie Andre

For more information, visit www.realestate.fnf.com.

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