Why the Traditional Equipment Leasing Broker Can't Compete 1

Why the Traditional Equipment Leasing Broker Can’t Compete

Matthew Worsman Equipment Leasing Leave a Comment

Brokers sell things. Merriam-Webster says a broker is “one who acts as an intermediary: such as an agent who negotiates contracts of purchase and sale.” In this case, an intermediary is someone who is the middle-man – a real estate broker sells a house on behalf of the homeowner because the homeowner doesn’t have the resources or connections to sell their house themselves.

And that’s why we use brokers. It’s a brokers job to sell our things for us. Brokers don’t just sell houses, they sell stocks, and they sell equipment. We use brokers because we can’t sell everything ourselves, no matter how much we want to. With our technologic advances, however, the broker-culture is changing, and that’s great news for you as an equipment vendor (not so much for those traditional brokers).

Cultural Shifts

You probably don’t think of Uber or Etsy as a broker, but technically, they are. It may not be a person, but as an app, Uber facilitates the purchase and sale of a ride. Etsy facilitates the purchase and sale of handmade goods. Now that we have the internet, there’s not really a need for a broker in the traditional sense, and that also applies to the equipment leasing industry. What if you could automate the broker process for your own business, and have a way to help your customers find the funding they need?

That’s what FaaStrak is doing. We’re automating the equipment leasing industry and nixing the need for a traditional broker. Via our online platform, we take the place of a broker and in some sense, we get rid of the most complicated part of equipment leasing. With this online platform, we can do what a broker would be doing, but in a fraction of the time. After you introduce your customers to us, we’ll take a look at their financials with our automated software. Meaning, our unrivaled algorithm will analyze their credit and financial information and automatically show them the best lending option for their situation.

Our Solution to the Traditional Equipment Leasing Broker

If this were a traditional broker situation, your customer would be told, not shown, their options. A broker would tell them what they think is the best funding option, with only the terms they offer. In comparison, FaaStrak has access to far more lenders than a broker ever could, and we have the ability to analyze financial information and immediately know the best funding option for your customers. A broker wouldn’t offer the lowest rates or the best terms – they just offer what they have and what they want to make a commission off of. But FaaStrak does, every time.

What Else?

What does this mean for your business? It means you’ll be able to close even more deals. Not only does FaaStrak show your customers all their options, but we also do it way faster. In a fraction of the time it takes a broker to even explain one option, we have the ability to show your customers all the loans they’ll qualify for. That gets them funded quicker, and you close your deals quicker.

When you “hire” us to facilitate lending, your customers will get the money they need way easier than they ever could with a broker. They’ll get their funds at the best rates, then move on to close the deal with you. That way, everyone is happy.

Above all, FaaStrak makes the entire process of getting money to getting equipment easier. There’s no paperwork to sort through, no waiting for phone calls, and that means there are no worries for you. As an equipment vendor, you care about your customers getting what they need, and at FaaStrak, we make that easy.

It’s time to jump on board to see what all the noise is about. Close more deals and keep your customers happy with FaaStrak. Click below to book your demo today!

 

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