Messer: I'd be remiss to say that the shift in volume from refi to purchase didn't help us. The bottom line is that purchase is hard to do. Part of that expectation versus reality from consumers is a little bit tougher. But, you know, we are the best at doing purchases. That's what we core believe. That's how we've built our model.
Messer: We're a Realtor-affiliate model. What that means is about two-thirds of our purchase business comes from owned real estate affiliates that we have. In major markets, we usually own the top one or two real estate brands in that market.
Messer: One officer serves those offices and those real estate agents. Two-thirds of our purchase business is affiliated. One-third is unaffiliated, whether it be self-sourced, past relationships as we've hired folks in, or whether it be agents who've left us. They leave us in terms of the real estate side, but they don't leave Prosperity because, again, what's the value add that we provide to them, right?
Messer: Well, let's start by saying our parent company, HomeServices of America, and structure are some of the best capital allocators that have ever existed in Berkshire Hathaway.
#mortgage-industry #customer-satisfaction #realtor-affiliate-model #purchase-mortgages #mortgage-predictions
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