Evaluating Your Portfolio in an Uncertain Market – An eBook for Lenders of All Sizes
Take a Page Out of the Real Estate Sales Professional’s Playbook – How to Use Your Tools to Sell
Real estate sales professionals experience some of the very same challenges you do. They serve homebuyers, they have to perform property related and customer related due diligence, and while many work for brokerages – they are independently charged with the task of finding business. They sell real estate and you sell the financing.
The name of the real estate sales professional’s game is sell, sell, sell so why not take a page out of their playbook and leverage some of the same tools to sell that they do?
One thing that real estate sales professionals do when drumming up business is to leverage the fact that many homeowners don’t know what their homes are worth. Showing them that there is more value than they may think may just entice them to sell. Thanks to technology, this is as simple as running a Property Details Report to generate an estimated value and then making contact with the prospect.
As a broker, you can do the same thing.
Take advantage of your underwriting tools to show your prospects what opportunities are available. For example, use a credit report to identify debts that a homeowner may be able use their equity to pay off. Generating a Property Details Report and re-evaluating a homeowners’ equity positioning enables you to approach them with information that could be of great value.
Just as a real estate sales professional can show a client that their home may be worth far more than the prospect thinks, you can do the same. However, instead of recommending that they sell, you can educate them on how they can refinance their home and use that equity to consolidate debt, complete much needed home renovations and more.
Where is the low-hanging fruit? In your filing cabinet! You can begin by pulling files of clients where you arranged their mortgage financing a couple of years ago and ask them if they’d like to know what their home is worth now.
This is also something that you can use in your marketing on social media. Join community groups and post that if someone is interested in knowing what their home is worth, to contact you! This is a great way to get your name out there and spark interest. You may just be surprised how many people take you up on the offer.
At Purview, we have the tools that make identifying selling opportunities easy. Grab that low-hanging fruit.
Find out more by visiting http://purview.ca/.
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