Let’s set the scene.

Like millions of others these days, your homebuying process likely began online with a steady stream of photos, 3-D virtual tours and some simple neighborhood research. Pretty soon, however, you probably went from looking at places online to visiting them in person.

Along the way, you may have met a knowledgeable real estate agent—someone happy to show you around and offer additional insights. With your dream house now coming into focus, you’re probably getting closer to making a homebuying decision and deciding which mortgage provider to use and how to finance your purchase.

Interestingly, your new agent works for a real estate company that has a joint venture with a mortgage company. The agent has made it abundantly clear that while you’re free to work with whatever lender you’d like, working with their affiliated lender partner comes with certain built-in advantages.

And so your agent ticks through all the reasons why you might want to consider working with a lender who’s part of the joint venture. The agent knows that the lender’s performance—their professionalism, industry knowledge and ability to execute on time—are crucial in determining customer experience. And that customer experience is what you’ll ultimately remember long after you move in.

What is a joint venture anyway?

A joint venture (JV) is a special combination of two or more legal entities which agree to form a company for profit by combining their property, money, skills, and knowledge. In today’s hypercompetitive environment, JVs can be instrumental in helping aligned businesses reach more customers more quickly and more effectively.

In fact, the modern American business landscape is littered with examples of successful companies that decided at some point to pursue joint ventures. Recent popular examples include JVs between GE and Microsoft (Caradigm) and Samsung and Spotify (preinstalling the music app onto Samsung phones and providing six months of free service).

While the exact reasons for establishing these alliances are often varied (and sometimes complex), pursuing a JV is essentially a way for companies to create synergistic relationships by combining resources and expertise to accomplish more and better serve their shared customers.

At the core of their purpose, a well-structured JV can better serve a larger customer base, enabling companies to access new markets and target a new audience.

As a leading provider of residential mortgages in the United States, Guaranteed Rate has entered into several JVs in recent years with top real estate companies, including OriginPoint, which is a joint venture with Compass.

Business value, customer value

Of course, business value isn’t the only value that matters—far from it. JVs not only act as instruments to enhance company revenue, but also can provide a wealth of opportunities to provide more value to you as a homebuyer.

In a partnership between a real estate company and a mortgage provider, that value is a more personalized and seamless mortgage experience. When there are fewer moving parts and everyone can quickly get on the same page, customers benefit. That’s the special sauce of a JV.

How do customers benefit from a joint venture?

Real estate join ventures, such as OriginPoint, can be game changers for the customers they serve.

In a world where a smooth, seamless experience is increasingly a priority for their customers, companies that find ways to keep their customers happy and well-served within their ecosystem can offer them enhanced services. Choosing your real estate agent’s JV partner comes with some compelling advantages, including:

• Convenience
• Trust
• Communication
• Knowledge of local markets
• Speed of process
• Customer experience

How you can benefit

Convenience

The “one-stop-shop” philosophy has a lot of appeal. Especially in an increasingly digital society where quick, seamless, omnichannel interactions are what homebuyers like you are used to and have come to expect. Having your agent and your lender on the same team provides you with convenience, ease and a streamlined process.

Part of that convenience and ease is not having to hunt around online or in person for a reputable lender who will work with you every step of the way. When your real estate agent points you toward a vetted, professional loan officer that they’re comfortable working with, everyone wins.

They’re providing you with a value add that reduces stress, provides certainty and gets the financing ball rolling ASAP. Next thing you know, you’re on the phone with your new loan officer talking about the loan options that are right for you.

Trust

Your mortgage partner isn’t someone you found online through a perfunctory digital search. He or she is a colleague of your agent, someone with a proven track record and will work with them in lockstep every step of the way. It’s a true circle of trust that flows from the agent to the loan officer to you.

When selecting the professionals who will shepherd you through the homebuying process, it’s difficult to understate the importance of reliability, availability, expertise and trust. Relationships matter, and JVs can be great ways to ensure yours is optimized for transparency—and homebuying success.

Communication

When it comes to buying a home, “getting on the same page” with your real estate agent and mortgage professional isn’t just a good idea—it's essential. The better the flow of information between agent and loan officer, the less confusion about turn times, closing dates and your eventual move in. Trusted relationships within a well-structured real estate-mortgage lender JV help facilitate the flow of communication.

Additionally, game-changing digital technology around both the mortgage application and closing process helps streamline an otherwise arduous journey for new homebuyers and makes it easy to communicate progress to your real estate agent.

Knowledge of local markets

Since your real estate agent and your loan officer work together all the time, they work in the same local market. Often, they work in the same office space. They've met before, they share information and they’ve doubtlessly discussed the unique homebuying factors that exist in the city/town/neighborhood where you are buying.

Having the insights and expertise of a lender who knows the regional marketplace at your disposal translates into a more accurate understanding of local home values. Savvy local lenders can even help guide you toward the right kind of loan 15-year loan vs 30-year loan vs an ARM given your financial situation and the specific region where you are buying.

Speed of process

Mortgage providers like OriginPoint invest heavily into technology and new digital platforms to improve the mortgage process for all participants—most importantly, the homebuyer.

An important part of improving the process is making it faster and more reliable. Turn times matter: You might have hard move-out dates from your current home and you depend on mortgage professionals to underwrite the loan and give their full approval quickly, all of which (hopefully) culminates in a seamless closing process.

Customer experience

A good mortgage provider will always prioritize customer experience over everything else to help you gain visibility into the process, set appropriate expectations (and timelines) and guide you gently from one milestone to the next with streamlined, frictionless precision. In fact, according to McKinsey, “exceptional customer service ranks right up there with superior rates when it comes to choosing a lender.”

As a homebuyer, you already have enough to worry about when it comes to your financing. You’re looking for a team effort that will deliver the home of your dreams on time, at low rates with least amount of stress.

Why not explore a joint venture that makes homebuying easier?

Buying a home is one of the most consequential decisions you’ll make—financial and otherwise—and it requires a high degree of savvy and due diligence to ensure you’re getting the best deal. A joint venture between a leading real estate company and a top lender can be a great way to maximize value—and provide you with a seamless homebuying experience.