RISMEDIA, December 15, 2009— Every real estate professional knows that a large part of their success depends on their reputation, which can be greatly affected by the organizations with which they align themselves. Here, Blair Allan, National Executive, Strategic Business Alliances at Bank of America discusses how a strategic business alliance with Bank of America Home Loans will help you build your reputation as well as your business.
Strategic Business Alliances
Bank of America
A real estate professional’s reputation is a key ingredient for future business. Real estate professionals serve as the one constant in their customers’ home-buying experience, so they have a stake in making it as positive as possible. As a result, real estate professionals need a lending partner who:
• They can rely upon for effective communication during the closing process
• Is flexible, wants to build long-term relationships and is dedicated to customers
• Makes home financing easier to understand and is committed to successful homeownership
• Integrates their business with the real estate professional
• Can grow with them and take an active role in their success
Lenders who are committed to responsible lending and successful homeownership understand and respect the talent and effort that real estate professionals invest in their business—and in their reputation. When those professionals form a Strategic Business Alliance with Bank of America Home Loans, for example, we believe they are teaming up with an organization whose expertise complements their own. With its straightforward approach, Bank of America Home Loans helps agents achieve their goals by being available as their primary source for home loans, giving them the freedom to focus on what they do best—working with customers to find the right home.
As real estate professionals guide their clients through the home-buying process, it is critical that lending partners provide them with the clarity and tools they need to become successful homeowners, allowing for a confident and timely closing experience.
Since every agent has a different approach to success, lenders must offer a broad range of options when it comes to partnership opportunities. Bank of America Home Loans, for example, has developed several types of Strategic Business Alliances, giving real estate professionals the flexibility to choose a solution tailored to their business:
Promotional Services Agreement – Availability of marketing materials from the agent to broker level that use the strength of the Bank of America Home Loans brand to help build business.
Space Rental Agreement – Bank of America Home Loans mortgage loan officer onsite for immediate, personal service to potential home buyers.
Marketing Services Agreement – A monthly marketing fee is paid to the real estate professional with no upfront capital required, to advertise Bank of America Home Loans. Gives real estate agents a preferred lender to provide their customers with home loan information in less time.
Marketing AlliancePlusTM – A non-equity based alliance with a defined term where real estate professionals earn a monthly fee to exclusively market Bank of America with a customized marketing plan from a dedicated account manager. Home buyers receive service from a dedicated loan officer as well as a concierge customer support network.
Joint Ventures – Bank of America provides specialty fulfillment and account management with a jointly owned and operated mortgage company that is 50% owned by Bank of America and 50% owned by the real estate professional. Suitable for larger companies interested in an equity based relationship.
Real estate professionals who want to build their reputation and grow their business need to partner with lenders who understand what it takes to compete in today’s market. They’ll be glad they did.
THIS INFORMATION IS INTENDED FOR MORTGAGE, REAL ESTATE AND/OR BUILDER PROFESSIONAL USE ONLY AND IS NOT AUTHORIZED FOR CONSUMER OR PUBLIC DISTRIBUTION.
Bank of America, N.A., Member FDIC Equal Housing Lender © 2009 Bank of America Corporation. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. AR90955