Your discipline to generate leads during these beautiful fall days and upcoming holiday feasts is paying off. You have cultivated a group of prospective buyers for 2018.
Now your job as a top agent is to help your prospective buyers put action behind their words so they’re able to buy a house.
Obviously, your prospective buyers have already taken the first step by researching, finding and selecting you to become their agent. Now you can suggest things they can do right now, no waiting, which will enable your prospects to become your clients.
1. First and foremost, suggest to your prospects that they check their credit score. The higher the credit score, the lower the interest rate. A lower rate, “…even just 2%, can mean saving thousands of dollars a year,” according to Lee Gimpel, co-creator of The Good Credit Game. If the score is not a good one, your prospects can repair it. Suggest that they correct any errors on the report, pay their bills on time, get their credit limit raised and to use only 30% or less of their total available credit regardless how good those “holiday deals” sound.
2. Suggest they do NOT open a new credit card…regardless how good those “deals” sound.
3. Suggest to your prospects that, when asked by family and/or friends, they request financial gifts for the holidays. Your prospects will need a mountain of cash for a down payment, closing costs, moving costs, unexpected repairs.
4. Suggest that any tax refund that comes their way ought to be added to their “mountain of cash” for their new home.
5. Suggest that your prospects pay attention to interest rates by shopping around for mortgage lenders. Your prospects need to shop for and compare lending rates, costs, points, closing costs, number of closing days, etc. You as their agent may have one or two or several referrals to lenders for your prospects.
6. Suggest that your prospects get pre-approved…now. You as their agent will base their home search on their preapproved (or less) amount. When pre-approved, your prospects will be able to show you as well as sellers that your prospects really can buy a house.
7. Items your prospects will need to show potential lenders for pre-approval are…
Tax returns – 2 years
W2s – 2 years Payment stubs for the last few months Proof of mortgage/rent payments – 1 year List of debts (credit card, student/car loans. alimony, child support List of assets (bank statements, investment accounts, real estate/auto titles
Lastly, suggest that your prospects not change jobs, miss debt payments or make big purchases.