We all know that having an in-house lender offers someone to help sponsor the next potluck. However, by joining with a loan officer as knowledge partners, you can also position your partnership as an invaluable resource to homebuyers and sellers.
Buying and selling a home is one of the largest financial decisions many of us make in our lifetimes. Generational wealth is determined by land ownership. The loan process, title work, inspections, research and stress is like having a part-time job while you are in the middle of it!
The result is owning an investment that directly determines your long-term net worth where you get to create memories and enjoy it.
When real estate agents and loan agents partner, they can position themselves as trusted advisors to potential sellers and buyers. By the time the average U.S. homeowner retires, it’s often stated that 83% of their wealth will come from their real estate’s equity; however, most homeowners don’t consider their home an asset.
Encouraging homeowners to discuss and understand their home’s value helps them go confidently into their next transaction. According to the National Association of REALTORS®, over 69% of buyers have a home to sell. You can reach these buyers by targeting homeowners.
As their trusted advisor, these homeowners are more likely to reach out to you and your loan partner when they are ready to buy or sell a new home.
Easier Said Than Done
To position yourself as a trusted advisor, you need to provide tangible advice and
resources. Data-analysis tools like Buyside’s new Home Equity Sites are a great way to attract curious homeowners. Homeowners can learn about their home equity as you and your affiliated mortgage partner or in-house loan officer nurture the relationship, positioning yourselves as trusted financial advisors.
The homeowners in these relationships may not be ready to sell their house as you initiate the relationship, but as their trusted home-equity financial advisors, they are more likely to reach out to you when they are ready to sell. Also, these relationships can glean additional listings as they share their learnings with friends and family!
Charles Williams is the chief executive officer and founder of Buyside. Buyside is a data analytics and marketing company on a mission to help real estate brokers profit from their largest untapped asset: data. Buyside aggregates the activity your buyers generate online, using it to power actionable insights and intelligent marketing tools that help brokers: capture seller leads, win more listings and close more transaction sides in house! Learn more about Buyside’s Home Equity Sites at GetBuyside.com