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Article: System Indicates When Buyer May Act.(Clairvoyance monitoring system)
- Article from:
- Origination News
- Article date:
- July 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Whether Big Brother is watching your every move is open to debate. But with a new real estate monitoring system being offered to lenders, a mortgage company could very well be looking over borrowers' shoulders, trying to find out when they will make their next move.
"Clairvoyance" is a system that notifies lenders and brokers as soon as anyone on their prospect list puts their home on the market. So, if a borrower's loan officer is a subscriber, the borrower can expect a phone call asking about his or her next mortgage.
Brian King, president of First Movers Advantage, a leader in pre-move marketing based in Wayzata, Minn., calls it "warm" as opposed to ...