Why Mortgage Brokers Need to Consider RPA

Even though real estate financing is required for the vast majority of home purchases today, the mortgage broker is typically not the first step in the new home buyer’s journey. Some would argue that there is nothing to finance until a new home is identified, but does it have to be another party that brings that home to the attention of the consumer?

To survive and thrive in the future, mortgage brokers must begin to think outside of the box. What if the broker was also licensed to show real estate?

In our business, we call this new industry professional a Real Property Advisor (RPA) and believe it is the future state for nearly everyone working in our industry today, on both the real estate sales and financing sides of the business.

We’ve put a lot of thought into this and are helping mortgage brokers today think through this transition and evolve their businesses. The benefits are significant, not the least of which is that the mortgage broker becomes their own business referral partner, forever free of dependency on others for prospects.

Additional benefits include more revenue on each transaction and the ability to remain in touch with the borrower for the life of the loan so that they have the first opportunity to serve that borrower for their next transaction or loan.

But it’s important for mortgage brokers to begin working on this transition now because real estate brokers are already moving in this direction and have been for some time. Pressure on their existing commission structure is driving them into the finance business.

There are many resilient professionals working in the mortgage industry today. They know that sometimes being strong means being willing to pivot as the industry changes. Those that don’t will be left behind.

To find out how SRE Mortgage Alliance can help you take this next important step in your business journey, reach out to me today.