The turnkey solution will be available shortly on the web sites of both firms. The two-part concept will work this way:
PropertyFirst.com will provide detailed data and services to MortgageRamp.com customers. The customers will be able to obtain specific property characteristics; view rent rolls; check financial information; and inquire on other key deal decision-making facts.
In turn, commercial property buyers and brokers, who are users of PropertyFirst.com, will be able to follow up on financing for property sales through one integrated technology platform offered by MortgageRamp.com. MortgageRamp.com has a customer-service support staff of 40 professionals.
"It's a one-step program" for users in any category, MortgageRamp CEO Michael Greco tells GlobeSt.com. "We are not out to knock out the (offline) broker in any way. If anything, this program may often give the broker an edge by clicking on to our service and providing him or her with information that would be especially advantageous to their clients."
Greco sees the turnkey solution "primarily as a link with the property listing sector and users generally who need to have all key information at their fingertips instantaneously before making a decision on a deal."
In a prepared news release, PropertyFirst.com executive vice president and chief operating officer Donald Miller says, "Our business is about helping our clients, primarily commercial real estate owners and service providers, do their business better."
Miller notes, "Not only will a buyer be able to secure great representation and identify investment properties that meet their criteria, they'll be able to pre-qualify for financing, compare lending options, complete the loan application process, obtain an appraisal and proceed to closing--all across one technology platform created by the combination of our firms' resources."
The PropertyFirst.com site, launched in June 1999, represents more than 1,200 brokerage firms and adds almost $2 billion in weekly listings. MortgageRamp.com, started in April 2000, has closed over 30 loans and has 70 deals pending for a total projected value of $200 million.
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