Accountants, refi’s, and Pre-approvals; oh my!
We have a lot of things to cover this week, and we must start with Accountants! By now, you have an entire list of accountants you have worked with in the past and now is the time to connect and have the conversation about tax extension filings and the opportunities in a declining rate market!
Next, we must address the declining rate market and realize that rates are not as low as they are likely to go, and without a proper plan, you may just chase away opportunities rather than create them. Set up your “Buckets of Benefit” so you have a prepared call list when rates hit certain trigger points as they go lower. You MUST remember that this is done by phone, NEVER by email, social media, or even text messages, PHONE! Remember, preparation is critical and speed paramount!
Preapproval updates are always important but be sure you let your clients know about improved purchasing power as their payment now can get them more money. So, in addition to improving their credit scores, saving money, and looking for houses that fit their needs, they need to be reminded that while interest rates may be heading lower, home prices are still going higher, so get your house locked up and you can always refinance later down the road! You also need to look back at older preapprovals or those that may have given up. They wanted to own a home; they probably still do!
Thursday brings us initial and continuing claims numbers and Friday we will see the August Jobs Report. All of these have the potential to move the markets. The last 90-day block is just beginning for you or just about to start depending on your market. You MUST have a plan to take advantage of the opportunities that are and will become available. We also look forward to our annual Business Planning process that will begin in October, so much to do and so much to gain!
As always, if you have questions or comments, or would like to schedule a business planning event for your team, your branch, or your company; you just need to email me at [email protected] and we can talk about your situation and how I might be able to help.
