In a fast moving and competitive real estate market, buyers and investors require advantages in order to seal the deal. In today’s market, one of the most important competitive advantages is speed.

With the ability to act fast when an opportunity arises, brokers and their clients are better placed to secure the desired outcome. 

Alternative finance lenders, like Briqwise, are facilitating this new characteristic of the lending process. By streamlining the processes associated with securing a loan, Briqwise can produce quick turnarounds in order to enhance your ability to secure real estate financing. 

Why speed matters in real estate financing 

The real estate market is often characterised by an inherent need to move fast, otherwise, you risk losing the property to someone else. This ticking clock is exacerbated when you think about the reputation of traditional lenders and their loan processes as being slow and cumbersome.

With lengthy approval processes and stringent lending requirements, traditional lenders can often take weeks to reach decisions. In the meantime, a unique property or a great investment opportunity might have been listed and sold to someone else possessing the ability to act fast. 

This need for speed is so paramount in today’s real estate landscape that it’s changing the way that everyone from high-net-worth individuals to small to medium enterprises are conducting business. 

Rather than being swayed by the price tag of a service, borrowers and investors are increasingly seeking fast access to capital so that they can act swiftly. Essentially, speed is overtaking cost effectiveness as the number one concern for borrowers and investors alike.

With priorities shifting, brokers need to be able to facilitate these market shifts. If brokers can provide clients with a tangible competitive advantage, they are also positioning themselves at the forefront of the market. This is largely because speed of service doesn’t just benefit the end goal of clients, but it also instills confidence in your ability to execute efficiently and effectively.

The Briqwise process: fast loan approvals and document turnaround 

As a platform designed specifically for real estate investments, Briqwise understands this market sector and the individuals operating within it. With this understanding comes an ability to delve deeper into processes to create an end-product that is beneficial for today’s investors, borrowers and brokers. 

Each step in Briqwise’s loan approval processes emphasises the notions of speed and transparency. This means that timelines for return responses are clear and fees are outlined upfront. To help simplify the loan application process further and facilitate quick submissions, Briqwise’s process encompasses six steps. 

This simple process provides clarity and on average, loans approved within 5 days and a 14 day turnaround from the time of application submission to the money being in the bank. By cutting down application processing times, investors and borrowers have better bargaining terms when it comes time to put in offers against other applicants. 

This speed is in direct contrast with traditional lenders who, on average, take weeks to process and approve loans. This is a costly difference when you consider that the more time applications take to be evaluated, the more room it leaves for other applicants to come up with a better offer.

With Briqwise, quick decision making is at the forefront because your success is our priority. It’s this ethos that ensures we will determine feasibility within 24 hours of receiving an application, whether submitted directly by an individual or through a broker. From there, an internal review will be conducted within two business days before a consent letter or quote is issued.

How speed helps brokers secure more deals 

The world of real estate financing doesn’t exist in a vacuum. Rather, in the background other life and work commitments continue to exist while real estate funding is sourced. When brokers can provide a seamless service underpinned by the ability to act fast, true value is being provided to clients.

With this in mind, the impact of quick approvals and flexibility when it comes to navigating complex real estate transactions cannot be overstated. By reducing the complexity associated with traditional loan application processes, brokers can offer speed. This is paramount when you consider that a quicker application process leads to quicker funding.

As a result of quicker funding approval clients then have the ability to convert different opportunities more swiftly, something that is key in the current fast paced real estate market. This speed of service can be considered a key competitive advantage, helping brokers satisfy current clients and attract new ones.

For Leon Westman, a broker with over 30 years of industry experience, Briqwise is a viable solution in the wake of traditional methods no longer being up to par. ‘The process from application to settlement is extremely efficient. It’s quite a contrast to the experience of entrepreneurs who are kept waiting for months only to hear that the financing won’t be approved,’ Leon said. 

How Briqwise is empowering brokers with speed

Benefiting both brokers and borrowers, Briqwise’s real estate financing platform emphasises speed and transparency. By providing answers to applications much quicker than traditional lenders, all while emphasising clear and concise terms, brokers and borrowers have access to a form of lending that is empowering. 

By facilitating the ability to act quickly in a real estate market where action needs to be swift and terms need to be appealing, Briqwise has a high success rate. By partnering with Briqwise, brokers can provide new and existing clients with access to these deeper and more efficient and effective real estate financing solutions.

At Briqwise, we’re here to help brokers understand the opportunities within alternative financing. If you need help with alternative financing, contact our friendly team at kamsen@briqwise.com or neil@briqwise.com.

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