Shmuel Shayowitz (NMLS#19871) is President and Chief Lending Officer at Approved Funding, a privately held local mortgage banker and direct lender. Shmuel has over two decades of industry experience, including licenses and certifications as a certified mortgage underwriter, residential review appraiser, licensed real estate agent, and direct FHA specialized underwriter. Shmuel provides a uniquely holistic approach to comprehensive real estate and financial matters that goes well beyond any single transaction. Shmuel is an award-winning financier recognized for maximizing the short-term and long-term objectives of his client. As a contributing writer to many local and regional newspapers and publications, his insights have been featured in the media for many topics, including mortgages, personal finance, appraisals, and real estate trends.
According to a recent survey by the National Retail Federation, an estimated 190 million Americans will tune in to Super Bowl 50 this Sunday, February 7, to watch the Denver Broncos take on the Carolina Panthers. Whether you are planning to watch just the game, only the commercials, some of the halftime festivities or all of the above, America’s obsession with the Super Bowl continues to grow each year. When all is said and done, total spending around the event is expected to top $15 billion. That’s the highest dollar amount in survey history.
America’s Love of Football
With electrifying offensive maneuvering, spectacular defensive dexterity and a mix of skilled specialty positions, the game offers something for everyone’s palate. It’s no wonder that football is a beloved pastime, and is referred to by many as the ultimate team sport. Win or lose, getting to the Super Bowl alone is the product of so many people on the field and behind the scenes who each played an important role in their team’s success.
Football and Real Estate
The upcoming highly anticipated game got me thinking about all of the toil and effort that it actually takes to get to the championship. That got me further thinking about all of the “players” involved in a real estate transaction, and the role each party plays in getting the deal to closing. I thought it would be interesting to match up the football player positions and real estate service providers, and see if their roles relate. Perhaps the correlation is more evident than people realize.
The Offensive Players
Besides for the Quarterback, in football, some of the players on the offensive side might include:
• “The Linemen”—such as a center, a tackle and a guard.
• “The Running Backs”—such as a fullback, a tailback, a halfback and rushers.
• “The Receivers”—such as wide receiver, a tight end, offensive guards and offensive tackles.
In real estate, some of the players involved in the offensive part of the transaction might include:
• “The Online-men”—This includes online portals that allow buyers to find a home without the use of a professional such as Zillow, Trulia and the like.
• “The Running Back and Forth’ers”—the real estate agents who spend hours researching, pre-screening and presenting countless homes to prospects who are inexperienced about true market inventory and prices.
• “The Receivers”— the more passive and less-exposed sources such as For Sale By Owners, builders, investors and the like.
The Defensive Players
In football, some of the players involved on the defensive side might include:
• “The Linemen”—such as a defensive tackle or defensive end whose general purpose is to pressure the quarterback or disrupt the backfield formation.
• “The Linebackers”—generally are regarded as the team’s best tacklers given the task of preventing the other side from gaining unnecessarily.
• “The Safety”—the players who line up in the deepest formation, and is often the last line of defense. There are free safeties and strong safeties, and they must defend against a long pass or drive.
• “The Cornerback”—players who line up on the wide parts of the field, generally opposite the offensive receivers. Also might include a nickelback and dimeback defensiveman.
In real estate, some of the players involved on the defensive side of a transaction might include:
• “The Lie-Men.” These include services such as general home inspectors and specialty inspections for pest, termite, chimney, electrical, heating, air conditioning and lead-based paint just to name a few of the many. I put these in the “lie” grouping because sometimes sellers will downplay some of the conditions and findings, and/or often buyers will overplay these issues to negotiate more favorable terms from the sellers.
• “The Fine-Line” and “Back-Watchers.” These include the attorneys, appraisers and title companies who review the details and fine print of contracts and property contingencies to make sure home buyers are protected with their purchase.
• “The Safety-Measures.” This includes safety measures such as obtaining homeowners insurance, flood insurance, title insurance and the like to protect homeowners during unforeseen circumstances later on.
• “The Want-my-Nickelback.” These are the people who are looking to “kill deals” for almost any reason rather than trying to come to a mutual agreement of mind.
The Most Important Position
When all is said and done, there is no disputing the importance of the role of a good quarterback. The quarterback is not only the team’s chief decision maker, but his ability to make timely plays and efficiently manage impromptu adjustments typically determines which team lands in the winner’s circle at the end of the season. Quarterbacks are clearly the most important players in the game due to their enormous responsibilities and direct impact on the outcome of each play.
In the world of real estate, I humbly suggest that a good mortgage lender is the cornerstone of every successful transaction. An experienced mortgage lender will help anyone efficaciously navigate through the challenges of any offensive or defensive matchup. While a veteran mortgage quarterback might not be as charming as a smooth talking, tight-end realtor, most professional experts would recommend that a potential home buyer obtains a comprehensive mortgage consultation well before embarking on the journey of homeownership.
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