BUILD Q1 2020

BUILD Q1 2020 32 oard is doing something different from real es- tate. It’s a new type of mortgage company that will upgrade any offer to an all-cash offer. They do this by purchasing homes, using their cash, on behalf of borrowers who have been approved for one of their mortgages. Once the buyer’s loan with them is ready to close, they sell the home back at the same price they bought it for, typically in two weeks or less. It’s a system where everyone stands to benefit. Buyers get to be cash buyers by proxy. Sellers can entertain all-cash deals, and the speed at which that transaction can hap- pen, sometimes closing in as little as seven days. Real estate agents get to be a part of a quick and precise process that does not always occur in their industry. Board generates its revenue as the lender, so it does not need to charge buyers, sellers, or agents anything to use the cash offer program. While many companies are looking to employ software solutions or active replacements for estate agents, Board wants to work with and alongside the existing system to create something new. The aim is not to replace but to provide peace of mind. Board is a result of the opinion that the future of residential real estate transactions is one that is ‘cash-only’ and guaranteed to go through. By ensuring anyone who can afford a mortgage can make a cash offer, they not only allow any buyer to make their most substantial offer but allow sellers peace of mind in the largest transaction of their lives. Board can act as the buyer, seller, and lender in any transaction. They buy the home all cash on behalf of an intended buyer, then sell the house back to them when their loan is ready to close and, of course, provide the financing. An advanced, compliant structure is in place to ensure all applicable regulations are followed, with exclusive underwriting and compliance technology to make sure that every deal is of the highest quality. The culture at Board is one of open-mindedness and constant feedback. Executives actively solicit the views of team members and are honest about the challenges which lie ahead of the small company. An active feedback loop is a job requirement at Board. Being able to patch into that loop is part of the interview process. At the end of the day, the job involves looking beyond Most Innovative Mortgage Company 2019 - Rocky Mountain States Founded in Denver, Colorado, a smart new company has made its first steps in the world of real estate innovation. We profiled BoardRE to find out more about their unique offerings and expert services. B Sep19384 the real estate industry because Board wants to change how homes are bought and sold. Looking forward, Board is set to remain laser-focused on the Colorado market, but there is the potential to expand into other areas. A waitlist of agents and buyers is on hand when the moment comes. It’s an exciting period of flux for the real estate industry, with the rise of iBuyers and iLenders lending credibility to the idea of a potential change in the market. Whether or not iBuyers will take off with the cost of their commission, balanc- ing out the convenience remains to be seen. For iLenders like Board, they offer an Open Market alternative without the cost. Wherever the market goes, it suggests a move towards certain- ty and peace of mind in the real estate transaction that hasn’t been there before. This uncertainty remains almost unique to the real estate industry, and it is businesses like theirs, which will match consumer expectations. In a world of uncertainty, Board seems determined to try and put a bit of ‘definiteness’ into the works. With a reliable and much-supported business plan, it looks sure to grow in strength as time goes on. Contact: Nick Friedman Company: BoardRE Website: