LAS VEGAS—In today's exceedingly competitive market, pre-approval will win deals, as the speed and execution will help buyers stand out from the other offers on the table, according to Peter Drake, SVP at Bank of America Merrill Lynch. We sat down with Drake and Lee & Associates CEO Jeff Rinkov at the recent Lee & Associates broker's summit in Las Vegas to ask his advice to brokers who are looking to win in competitive deals. Rinkov agreed that pre-approval helps tremendously in a bidding war.

Drake also gave us some insight into the market and the cycle during our interview. Looking ahead, Drake remains bullish for at least the next 12 to 18 months, pointing to strong fundamentals and national job growth as drivers. Rinkov shared Drake's positive outlook on the market, adding that the firm has grown its deal volume this year and brokers are continuing to see ample capital chasing deals.

In this exclusive video interview, Drake and Rinkov go into detail about rising interest rates, what broker's should be doing to win deals, and why Bank of America has a strong relationship with the commercial market and the Lee & Associates brand. Press play to hear more.