With mortgage rates near historic lows, many homeowners are considering going through the process of refinancing their homes.
This could allow them to potentially save tens of thousands of dollars, by securing a significantly lower interest rate on their loans.
While this provides a great opportunity for property owners to save money, it is also an ideal situation for mortgage brokers.
Low mortgage rates allow brokers to increase the volume of their businesses because homeowners across the country use the real estate professionals' services to lower their monthly payments.
However, this uptick in business can also be a headache for brokers who don't have the right systems in place. Because refinance documents are so time sensitive, and because they typically require homeowners' signatures, it is important for real estate professionals to find a way to conveniently and reliably send documents back and forth.
Of course, although a face-to-face meeting is an ideal way to complete the refinancing process, it is not always a feasible option. During busy months, brokers may find themselves traveling quickly between clients and properties, and they may not visit their offices for days at a time.
Traditionally, the fax machine has been a valuable tool for brokers to send documents to clients. The ability to send authorized documents instantly is important for real estate professionals hoping to complete the home-closing process as efficiently as possible.
However, in the modern environment, relying on a bulky fax machine to send and receive faxes can be sometimes feel like a ball and chain. For brokers who spend a significant amount of time away from the office, a more flexible, mobile system could save a lot of time and headaches.
That's why internet faxing has been such a revelation. Instead of staying close to an office fax machine or driving for hours between clients, real estate professionals can now conduct business wherever they are. A refinancing homeowner can easily fax a signed document over to a broker, who can then receive the file on a smartphone and store it digitally.
Along with mortgage rates being near historic lows, many feel the market is beginning to pick up, and agents are reporting increased interest and volume.