Reports from the street!
One of the most popular parts of this weekly blog post is when I write about the information and feedback that I get directly from the street about what is working and what is generating results. I always appreciate the feedback and the comments because they help me share with you the actual results from the strategies and concepts I talk about daily with my clients.
First on the list must go to the power of the fully documented preapproval. By doing the work up front to collect and verify all the documentation necessary to approve the borrower for a specific monthly payment, buyers can make their best possible offer and sellers can be comfortable knowing that this deal will close quickly and smoothly! This past week, I had one client have SEVEN clients make offers on properties in a highly competitive market, and six out of the seven offers were accepted over other offers, some specifically because the listing agent knew the closing could be quick, and the others because the preapproval was trusted! The one that wasn’t accepted was a case where the client was given a better price, and for some, the money is all that matters. However, six out of seven is a great week for anyone
Next, we have someone who finally went out and tried creating and running the small bank and credit union route strategy. About one hour of planning and three hours of actual travel and visits to ten small banks and credit unions. The results were very interesting; six were cordial but not very interested, but the other four lead to solid conversations about what each had to offer, clarifications as to what products and programs my client had that the bank didn’t, and agreement to follow up again in a week to structure how the referrals would pass back and forth and how the lines of communication would flow. Oh yes, within 48 hours there were two loan referrals from credit union clients looking for preapprovals!
If you have any stories you would like to share, or have any questions or comments, as always, it’s [email protected]
