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There are a lot of stories floating around about mortgage advisors who didn't save the mortgage holders money, and even caused them a loss in the long run - so it's good to have someone who knows that the bottom line, the mortgage advisor should provide the client with savings, security and comfort

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08/08/2022

Monday, 08 August 2022, 09:43

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Real Estate Brokers Ltd. (weshow)

Quite a few mortgage consultants have grown in the last decade in Israel, and it seems that every third person you meet has gone through a brokerage course during the last few years, which indicates a very, very hot market.

And befitting a market where there is so much activity, many will try to sting you.

Indeed, there are many stories floating around about mortgage advisors who did not save the mortgage holders money, and even caused them a loss in the long run.

More and more apartment buyers discover that they have purchased a property that is not in line with the needs they stated in the ears of the broker and more.

Brokerage and mortgage advice - the safe way to a yielding property that meets the needs and requirements of the client

Avitar Cohen entered the brokerage field about 7 years ago.

As someone who has lived the area and does not refuse to examine any transaction that is on the table, he recognized all the pains and difficulties that customers face when they come to buy an apartment or invest in a property.

"Whether it is private or business real estate," he says, "after all, it is the client's capital, from which he expects to receive the highest return, which will be expressed in the improvement of his quality of life or the financial return he will generate from the property.

Therefore, I must do everything possible to guarantee him the best."

This thought led Avitar to study mortgage counseling. But according to him, the real learning always comes from the field. Like everyone else, he doesn't memorize the obvious reasons why it's worth using a mortgage counselor - One that is not motivated by the interest of the bank and seeks the best interests of the client, but rather emphasizes in Rish Gali that, at the bottom line, the mortgage consultant should provide the client with savings, security and comfort.

Real Estate Brokers Ltd. (Photo: weshow)

"When the customer doesn't understand the banker, he is ready to sign anything they offer him"

Avitar: "Most of the customers who come to get a mortgage, of any kind, and not just for the purpose of buying an apartment, do not understand the concepts that the banker pours out in front of them, and to them everything sounds like one big gibberish. In most cases, even those who ask for explanations and clarifications come out confused and unaware of all the details of the transaction that are offered to him, which makes him agree to almost anything they tell him, just because he needs the money.

Some will say that their clients know exactly what they are signing.

In practice, not everyone strives to know every figure in the contract, and what interests them is the bottom line - how much they will pay in the end, how much the monthly repayment will be, and how many years they will carry this case.

This is exactly where many consultants begin to overlap, because a client who gives the consultant a free hand, gives him the opportunity to round corners.

I'm not saying that the consultant will deceive the client, but in such a case, he will necessarily strive to close a deal as quickly as possible, and will not give the extra effort, which can sometimes be expressed in savings of tens of thousands of shekels or in a reduction of several years in the mortgage repayments."

When the customer controls the process and comes from a position of power

Avitar emphasizes that a private mortgage consultant contributes to the client with another essential element - he gives him control over the process of taking out the mortgage.

He emphasizes: "There is nothing more important than this, because it allows the customer to direct the transaction and direct it to places that align with his needs, abilities and financial goals. This means that he comes to the bank prepared, after having knowledge and information, so the mortgage advisor cannot deceive On him. In general, if the customer meets the criteria, he can get a mortgage. Now the game is, how much will he let the bank profit from it. The assumption is that the bank wants to give the customer a mortgage, so the customer can come with confidence."

And what is important to know when contacting the mortgage department independently?

Avitar: "I encounter many cases in which the client does not take into account all the financial aspects of the transaction. Whether he wants to purchase a property at a price that is higher than the market price or he forgets to take into account all the expenses associated with the process, including opening a case in the mortgage department, an attorney, Appraiser, renovation of the property, transport, insurances and more.

In order to know how much to request from the bank, you must know how much is really needed, and only when you take all these elements into account can you come to an informed and correct decision."

A unique package of services - both property search and mortgage under one roof

Real Estate Brokers Ltd. stars in one of the sensational digital campaigns recently released, starring Elad HaGamd, from the "Big Brother" reality show.

The company specializes in accompanying, financing and locating properties for investment and residence in the Upper Galilee.

The company provides comprehensive services to apartment buyers in the area and undertakes to accompany them from the moment of making the decision until receiving the key.

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