Is the real estate industry ready for artificial intelligence? Sun West Mortgage is betting yes.
Paval Agarwal, CEO of both Sun West Mortgage and its affiliate Celligence, has created a 24/7 personal assistant A.I. platform called MORGAN, and he’s ready to teach the world how to use it.
MORGAN is designed to automate certain tasks for real estate professionals, primarily in lead follow-up and marketing.
Borrowers can apply for a loan through MORGAN, which analyzes their loan documents immediately to calculate their options. Potential clients will receive automatic follow-up emails and calls four days after contacting a realtor, according to information provided by company leaders.
On the marketing side, MORGAN can create listings in minutes, with realtors needing only to…
By KIMBERLEY HAAS Guild Mortgage has partnered with The Home Depot to help buyers save on utility costs and manage multiple payments by bundling the cost of new energy-efficient appliances into their home loan. The GreenSmart Advantage program offers options to finance energy or water-efficient improvements up to 5% of a home’s appraised value by consolidating the costs into a mortgage. Refrigerators, dishwashers, smart thermostats, washing machines, and dryers are examples of what can be included. Primary FHA purchase transactions are eligible. A 3.5% down payment and a credit score above 580 are required to qualify. Mary Ann McGarry is CEO of Guild Mortgage, which is headquartered in San Diego. She said in a statement that the company is always…
By KIMBERLEY HAAS The CEO of Comey & Shepherd in Cincinnati says there is something to be said for working with realtors and mortgage lenders in person at a time when it seems like more and more of the home buying process can be done from a cell phone. Scott Nelson collects data about what is happening in their market, where the median buyer is 47 years old with a $98,750 annual income. His realtors have been helping people navigate the process of looking for a home through the market’s changes in Ohio, where potential buyers who would use a traditional mortgage are losing out due to a high percentage of cash offers. Nelson estimates that 30% of home purchases…
A typical home spent just one week on the market before going under contract, according to a new report from the National Association of Realtors. Their annual Profile of Home Buyers and Sellers — “real estate’s definitive guide on home buyer and seller trends” — reported on the pace of home sales between July 2020 and June 2021. By comparison, the average in 2012 was eleven weeks. “Buyers moving quickly during the pandemic, coupled with all-time-low inventory, led to a decline in time on market to the shortest ever recorded, which was just one week,” said Jessica Lautz, vice president of demographics and behavioral insights at NAR. “Only a quarter of home sellers offered incentives to entice potential buyers, down from…
Realtors: Get your online meeting backgrounds ready. The National Association of Realtors announced Wednesday that its REALTORS Conference & Expo – scheduled for Nov. 13-16 in New Orleans – will be held virtually due to “health and safety concerns stemming from the COVID-19 pandemic.” “While positive indicators begin to show our economy is rebounding and treatment options for COVID-19 are proving more effective, so much remains unknown about this virus and the circumstances we will face as a nation come this fall,” NAR President Vince Malta said. “In order to prioritize the health and safety of our members, staff and sponsors, NAR looks forward to hosting a fully virtual REALTORS Conference & Expo this November.” NAR conducted a survey in…
