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Pre-Approval Will Win Deals

Bank of America Merrill Lynch SVP Peter Drake and Lee & Associates CEO Jeff Rinkov give some insight into landing financing in this EXCLUSIVE video interview.

By Kelsi Maree Borland | Updated on December 19, 2017

Jeff Rinkov, Lee & Associates, and Peter Drake, Bank of America Merrill Lynch, at the 2017 Lee & Associates Broker Summit

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.

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