When a new, innovative product is released, people rush out to pick it up. If it’s trendy enough or useful enough, consumers will wait in line to pay ridiculously high prices for it. While a loan product might not be exactly the same as the latest smart device, an entirely new concept in lending may have the same potential to take off. In fact, it’s crucial for companies to get on board with new products in order to keep up with their customer’s needs and stay competitive in a market that is ever-changing.
Real Estate Tech is Booming
Investment in the real estate tech industry has really taken off in the last year with several companies having no problem finding investors in addition to single-family rental market rapidly growing. It’s obvious that investors are embracing new and as of yet untested ideas in real estate tech, and with good reason. Real estate is an area that was until recently, especially compared to other industries, mostly untouched by the advances brought about by technological breakthroughs.
Now, customers are more trusting of the internet. It means that they’re more willing to put large transactions into the hands of internet-based companies when a better deal is being offered rather than dealing in-person with local real estate professionals. This has led to more investment in real estate tech, more utilization of real estate tech solutions by companies, and ultimately, even more customers.
Jump on the Train Before it Takes Off
New products in real estate lending don’t come around very often. The simple fact of the matter is that there just aren’t that many ways to tap your home equity out there. Sure, there are programs of various types that offer different terms, but generally speaking, wholly new ideas don’t come to the home lending market, whether we’re talking new mortgages or equity tapping solutions, very often
Residential sale leaseback is one of those rare new real estate products. While sale leaseback isn’t new and has been done with commercial properties for years, it’s a relatively new concept on a large scale in the residential market. Almost no lenders are offering a solution like our Sell & Stay, and they’re losing out on a key segment of the equity tapping market because of it.
Now is the time to get in on the residential sale leaseback market if you want to be one of the first companies to offer it. EasyKnock’s Sell & Stay is the perfect program for brokers to pick up so that they can offer this revolutionary new lending tool to their clients. Picking it up now could make you an industry leader in the residential sale leaseback market, helping you establish an immutable reputation that draws in leads for years to come.
Lenders and brokers, if you want to learn more about picking up Sell & Stay as a new, alternative product for customers looking for reverse mortgages, HELOCs, or other equity tapping solutions, feel free to contact us here at EasyKnock!