It's no secret that our place in the current real estate market is at a steady decline. Refinances are proving to be more difficult to obtain due to stricter lender policies. The purchasing and selling of properties is stagnant because although it is a buyer's market; buyers taking the bait are few and far between. As a society, we've hit rock bottom. The good news is that there is no other way to go from here except for up. Real estate professionals such as mortgage brokers can use this down time to sharpen certain skills, acquire new ones, and explore the possibilities of improving customer relations. The top three steps a mortgage broker can take in the right direction are as follows:

Ramquest
Ramquest is a Windows based software program that was released in 1991 to ease the operations of the land title industry. Since its release it has revolutionized the unity between mortgage brokers and title companies with its PaperlessCloser feature.

PaperlessCloser is a feature that allows mortgage brokers to submit their title search inquiry online as well as easily track its progress. Once the title search has been completed the title commitment as well any supporting documents; i.e. chain of title, explanation of liens and judgments, are uploaded for the mortgage broker to access. Furthermore, once the file is set up in the system, the mortgage broker can then identify which users may also access the information online; i.e. their clients.

Short Sales
More and more short sales are being approved by lenders for fear of losing any and all income on the property in question should a foreclosure arise. Short sale training is now being offered to mortgage brokers everywhere from large brokerages to online tutorials. Short sale tutorials will teach mortgage brokers how to initiate these types of sales on behalf of the prospective buyers.
A mortgage broker should know the ins and outs of this process because it is more than likely your next buyer looking for a loan is purchasing a short sale property.

Hard Money Lenders
Hard Money Loans are an excellent way to keep your bad credit buyer on the approval track. With the stringent new policies that lenders are implementing, a hard money lender may be your customer's only hope. Hard money and private lenders can be found through extensive networking. As mortgage brokers you may have, in the past, worked with an investor clientele. Broadening that circle through networking may introduce you to additional private lenders willing to make hard money loans.

The looming question regarding the real estate market isn't if it will rise again. Rather, it is when will it rise again? Instead of waiting around for the inevitable to happen to the market, why not take advantage of its current state? For mortgage brokers, staying in tune with what your costumers need will not only keep you on top of your game but may open doors to additional opportunities.