– The next time you walk into a real estate agent's office, and one of your Realtor partners is talking with a potential buyer, ask the potential buyer what their thoughts are on the opportunity in the housing market.
Chances are that buyer may have concerns about low inventory levels, causing them to settle for a home that does not meet all of their needs. They may also voice concerns arising from the negative messaging from the media, and the recent rise in home values. Additionally, the buyer’s ability to negotiate may be stripped away due to tight inventory, causing them to offer full price. Even then, competing offers may force the buyer to offer a sum above asking price. All of these factors can make the homebuyer feel less comfortable moving forward.
But your Mortgage Professional can easily pull up the MBS Highway site on their mobile device and show the customer the current health of housing in their exact marketplace. Within just a few seconds, you can address their concerns and show that customer affordability levels, home sales, job growth, and forecasted appreciation levels for that market. Then with just a click of a button, you can have this report at your fingertips, ready to be sent electronically to that customer’s email. Even better, the piece is personalized with your information and can even be co-branded with that Realtor’s picture and information, so long as you had previously entered that Realtor within your library. Again this is all done with a few touches on your phone within just a couple of minutes. Now the client has a meaningful understanding of the current housing market brought to them by both you and their Realtor.
Here’s a great sales tip… Ask your Realtor if they ever had someone start working with them, but wind up buying from another Realtor. Every Realtor with some experience can relate to this. This is a very high pain point both financially and emotionally. From a financial standpoint, imagine a $600,000 home. The selling real estate agent’s commission would be 3% or $18,000. A good Realtor, with an 80% commission split, would have lost $14,400. Regardless of the home price or commission split, the financial pain is still very significant. But there are also emotional pain points. The Realtor spent time with the client, drove them around, and likely built up some sort of friendship or bond with them. Therefore, the feeling of betrayal is very hurtful. What you can say to the Realtor is, “We can try to minimize this from happening again with our new Marketing Kit. Prequalification clients are hardly ever marketed to, and even if they are, it’s with silly cooking recipes and gardening tips. The Marketing Kit through MBS Highway gives that potential buyer highly valuable, financial wisdom, but more importantly, keeps them engaged in the home buying process by articulating the wonderful opportunity and financial rewards of buying a home.” And as we mentioned above, borrowers are skittish because of low inventory, lack of negotiation, and negative media attention.
So keeping them focused on the financial benefits of home ownership is highly important and very valuable to the Realtor. The Marketing Kit begins shortly after the prequalification with a report on their specific local market, which includes current levels of affordability, a look at the local job market and job creations, real estate trends, and a forecasted level of appreciation. This beautiful co-branded one page report is highly valuable to the potential homebuyer. Several days later, the borrower will receive a report that explains what the specific forecasted level of appreciation means to them, and how powerfully it can impact their net worth over time. One again, every piece contains great content, beautiful graphs, and is co-branded with the Realtor. Several days after that, the borrower will receive an amazing and surprisingly revealing comparison on buying vs. renting. Few people understand the enormous financial differential between the two. This is followed with a piece that shows how the client can save hundreds of thousands of dollars by making small additional principal payments, all with detailed charts. This type of information continues throughout the duration of the kit and Realtors absolutely love that you are helping them keep the potential buyer engaged, while keeping them connected to that client, with highly valuable and insightful wisdom that they won’t get anywhere else.