Articles

Leveraging Data to Grow Your Mortgage Business

by Maria John Senior Mortgage Executive
Last week, the National Association of Realtors® released its annual survey of home buyers and sellers (5,800 consumers participated). Here’s how you can leverage the results to grow your business in 2020.

Buyers:

A majority still prefer to use agents-89% used an agent to purchase a home in 2019, and most found their agent through a referral from a family member or friend:

-Be sure to ask for referrals throughout the process

-Include a referral ask in your follow up survey and email drip campaigns

-Remind friends, family, vendors, that you rely on referrals to grow your business

Single female buyers make up 18% of market, and the average First Time Buyer is older (33 yo):

-Make sure your marketing materials aren’t geared primarily towards couples

-Network at young professional groups, online business forums, gyms or yoga studios

-Offer First Time Home Buyer info sessions-I am happy to partner with you!

Debt is still an issue for many when it comes to saving for a down payment:

-I can help explain various down payment options (you don’t need 20%)! Please be sure to refer your clients to me.

Sellers:

Inventory is still an issue, despite the many compelling reasons to sell now, including:

-Houses are selling quickly, on market average is three weeks

-Median equity is $60,000

-Homes are selling for an average of 99% of the list price

I can help your sellers understand the value of their current home, and get them pre-approved for their new home search.

You and your clients can contact me at any time. I am happy to answer questions, explain down payment options, and issue pre-approvals.

Reference: https://www.fairway-newengland.com/blogs/leveraging-data-to-grow-your-business

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About Maria John Freshman   Senior Mortgage Executive

8 connections, 0 recommendations, 43 honor points.
Joined APSense since, November 21st, 2019, From Madison, United States.

Created on Feb 13th 2020 01:31. Viewed 187 times.

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