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It was not long ago since the previous pandemic influenced the way of living of Filipinos, affecting various sectors of society including how families handle their finances. Digital banking has become the norm in our everyday lives and banking institutions continue to innovate to make transactions easier.
These advancements in finance are also felt in the real estate industry. From multiple payment methods to applying for loans, digital banking is clearly stepping up a notch in helping property seekers and sellers alike.
More Payment Options, More Prospects
Property seekers favor various options when choosing every detail of their new abode, and that includes the process of purchasing. More payment options mean convenience to the buyer and more potential clients to the seller.
Real estate professionals who integrate the latest digital banking payment methods are ahead of the game and are always on the lookout for how to best cater to their customer’s needs.
Moreover, it’s also a plus when brokers are in the know when it comes to which digital banks offer the best interest rates in the market. That way, real estate professionals can suggest the top digital banks and build a good relationship with clients at the same time.
Easier Housing Loan Programs Thanks to Digital Banks
Formal lending services like the Pag-IBIG Fund and traditional banks usually have tedious processes that can eat up time better spent on something else. But with the dawn of the latest tech innovations, it’s only a matter of time before more digital banks offer fast and easy housing loan programs.
In this regard, real estate professionals can share the latest loan program advancements with their clients and make the buying journey smoother.
Tonik Digital Bank’s Big Loan is perfect for the needs of clients. Property seekers, particularly those looking for condominiums, can borrow up to Php 5 million and get up to 60 months of installment period. In addition, the pre-approval duration is only 30 minutes.
Once customers are pre-approved for the Big Loan, they must submit the preliminary requirements through the Tonik app and expect a call from a Tonik representative. If the loan application is approved, clients must go to the Tonik Hub site to submit all necessary documents and process the loan disbursement.
Keeping Up with the Times
Digital banks offer a wide variety of financial services at a faster rate compared with their traditional counterparts. As the market for real estate becomes younger, payment terms should also adapt.
Sol Nolasco, president, and chief executive officer of SN HomeFinders Management and Development Corp. shared, “[I]n my experience with the buyers and sellers, especially the sellers, they would want a faster loan take out.”
“[T]he younger ones are very aware now of the banking services. They had more financial training than we had 40 years ago,” Nolasco added.
Expand your digital banking knowledge and join the first Lamudi Link of the year, in partnership with Tonik, happening on March 29, 2023, at the One San Miguel Avenue Building, Ortigas Center.
Click this link to register now.
