Palm Agent: A New Tool for Real Estate Professionals

Introducing Palm Agent

Palm Agent is a versatile tool designed to streamline real estate transactions and enhance client service. This platform provides quick quotes, cost analysis, and payment calculations. Financial details are also represented visually where appropriate. Palm Agent helps simplify essential tasks like calculating closing cost estimates, analyzing offer scenarios, or generating seller net sheets.

Sean Lewis, Market President at Bluegrass Land Title, says, “Palm Agent is an outstanding complement to our existing suite of tools. While Qualia remains our settlement software and secure communication portal, Palm Agent is excellent at providing fast, accurate quotes and detailed cost analyses.” Palm Agent is available through your web browser and as a mobile or desktop app.

Core Features of Palm Agent

Palm Agent features several tools to help real estate agents manage transactions and facilitate better communication with their clients.

Quick Quote Tool

The Quick Quote tool simplifies the process of obtaining title insurance and escrow fee quotes. Available directly on the Bluegrass Land Title website, this tool requires only basic transaction information - the property address, closing location, purchase price, and down payment - to generate accurate quotes. 

Quick Quote provides an accurate schedule of costs, including:

• Title insurance premiums for both lenders and homeowners
• Buyer and seller fee breakdowns
• Standard transaction fees, including settlement fees, deed preparation fees, and lender CPL fees
• Applicable taxes and recording fees

Once generated, quotes can be downloaded as PDFs or emailed directly to clients and other transaction parties. This represents a significant improvement over traditional quoting methods, requiring fewer steps and less time to complete than similar tools. 

“This tool is designed for quoting, and it does this job very well,” Lewis explains. For lenders and agents who need quick, reliable estimates for title insurance and escrow fees, the tool eliminates the need to navigate through multiple screens or input extensive property details. 

Cost Analysis Tools

Palm Agent includes a suite of calculators designed to help analyze different transaction scenarios. These tools allow you to save and organize estimates into folders for easy reference and comparison. The cost analysis tools are available when you create a free account. 

For Buyers

The primary cost analysis tool for buyers allows agents to evaluate different purchasing scenarios with their clients. Lenders can input loan details directly into agent accounts to provide accurate estimates of monthly payments, cash needed at closing, and detailed closing costs. 

The tool's flexibility allows you to adjust various factors to understand their impact. You can experiment with different interest rate buy-downs, modify offer amounts, or adjust closing cost scenarios. All estimates can be downloaded or shared via email.

For Sellers

Palm Agent makes it easy to generate detailed, accurate net sheets to share with your clients. By entering the property address and current loan details, you can calculate closing costs and get an accurate estimate of your client’s net proceeds.

The platform makes it simple to compare multiple offer scenarios and evaluate the impact of different commission structures or seller concessions. You can also assess holding costs to understand the financial impact of extended marketing periods.

Additional Calculators

In addition to these primary tools, Palm Agent features a suite of other specialized calculators. 

Some of the most popular calculators include tools to calculate:

• Compensation: Compare different buyer agent compensation scenarios under the NAR settlement requirements
• Equity: Determine how much equity your client has available in their current home
• Monthly Affordability:  Evaluate buying power by factoring in your client’s desired monthly payment (PITI), loan details, and closing costs

Currently, Palm Agent features nearly 20 calculators available to free account holders. Each calculator provides clear, actionable information to help inform transaction decisions. Results can be saved, organized, and shared with clients or other parties within the transaction. 

Marketing Integrations

While Palm Agent's core calculators and tools are free, a premium membership unlocks additional marketing features. With a membership, you can customize the appearance of exported estimates with your brand elements and access monthly marketing packages that include infographics and videos for social media use.

Premium members also gain access to more advanced tools, including GeoReports for market listings and shareable calculators that can be embedded on your social media platforms or within an email. 

The premium membership costs $0.99 monthly or $9.99 annually after a free trial period. However, it's worth noting that Palm Agent remains a robust tool even without a premium membership. The core calculation and analysis features are all included in the free version.

Getting Started with Palm Agent

Palm Agent can be accessed in several ways. The Quick Quote tool appears in the lower right corner of every Bluegrass Land Title webpage. For full access to Palm Agent's features, you can create a free account through the Quick Quote tool or download the BluegrassLandTitleAppONE mobile app from the App Store or Google Play. Desktop users can access Palm Agent through their web browser or download the desktop application.

Setting up your account takes just a few minutes. Simply create a username and password to access the free version of Palm Agent. You can upgrade to a premium membership at any time to unlock the additional marketing features.

Palm Agent also provides comprehensive training resources to help you make the most of the platform, including:

• Webinars: Regular live webinars offer hands-on training and coaching insights
• Online video library: The Palm Agent YouTube channel hosts an extensive video library that includes basic tutorials, marketing package previews, and webinar recordings.
• Responsive support: Users can submit help tickets directly through their account for quick assistance with technical issues or questions about specific features. 

To get started with Palm Agent, you can download the BluegrassLandTitleONE app through your preferred app store, scan the QR code on our website, or request an access link from your Bluegrass Land Title representative. 

Use Cases and Benefits

Palm Agent offers specific advantages for different users in the real estate transaction process.

Lenders

The Quick Quote tool provides a straightforward way to capture title fees and share detailed information with agents. Lenders can input specific loan details directly into an agent's account, enabling precise, personalized closing cost estimates for each homebuyer.

Real Estate Agents

Palm Agent enhances client communication through clear, visual breakdowns of financial information. Agents can easily demonstrate different scenarios by adjusting variables like offer amounts, compensation structures, loan terms, and seller concessions. This makes complex financial discussions more approachable, especially for first-time homebuyers.

The platform serves as both a practical tool and an educational resource. Agents can use the various calculators to help clients understand the financial implications of their choices and explore different options that align with their priorities.

Clients

While clients typically don't access Palm Agent directly, they benefit from its capabilities through their interactions with agents and lenders. The tool's clear presentations and scenario comparisons help clients make informed decisions and minimize surprises during the transaction process.

Frequently Asked Questions about Palm Agent

As you explore Palm Agent's features, you may have questions about how it works. Here are answers to some common questions about using Palm Agent and integrating it with existing tools.

Why is Bluegrass Land Title introducing another tool?

Palm Agent addresses a specific need in real estate transactions - quick, accurate financial analysis. While Qualia excels at managing the transaction process and secure communications, Palm Agent focuses exclusively on calculations and cost estimates. The tool provides a streamlined way to generate quotes and analyze different financial scenarios, complementing our existing services.

How does Palm Agent integrate with my existing workflows? 

Palm Agent enhances the financial conversations you're already having with clients. Instead of explaining concepts abstractly, you can show real-time calculations and visual breakdowns of different scenarios. The tool supports these discussions by making complex financial information more accessible and easier to understand.

How accurate are the quotes and calculators?

The accuracy depends on the information provided. When lenders input specific loan details, the estimates can be very precise. Even with general information, the calculators provide useful guidance for discussion purposes. Remember to communicate with clients that these are estimates until finalized on the Closing Disclosure and Settlement Statement.

What should I do if I need technical support?

Technical assistance is available directly through the Palm Agent portal. Users can submit support tickets through their account for quick resolution of technical issues. The support team responds promptly to questions about features, calculations, or technical problems.

Ready to get started with Palm Agent? Create your account today through the Quick Quote tool on our website, or contact your Bluegrass Land Title representative to learn more.