The Final Countdown!
We are a week away from Thanksgiving and that means it’s time to prepare for the final countdown of 2022 and the birth of 2023. With recent improvement in the bond market pushing rates lower, we are seeing improvement in those coming in to start the home buying process, as well as those who went to the sidelines and are re-engaging the process again now. A few things you might want to consider taking advantage of these opportunities are:
- Listen carefully to the client’s expectations and provide information and set priorities.
- Talk in terms of payments and how monthly payments are calculated.
- Program eligibility and the benefits and drawbacks of each.
- Update and confirm all documentation for quick turnaround.
- Be VERY clear as to your transaction timelines and how long things take.
- Go over your “Do’s & Don’ts” list. People can quickly drain their assets or overuse credit/apply for new credit for holiday purchases.
- When is the last day you can accept a contract on your preapproved borrowers and still close before the end of the year!
It’s important that you know this information and share it with your clients and referral partners. The transaction process is tricky enough in today’s market with all the volatility that when you add the holidays to it, you can easily see transactions go sideways in a hurry. So, take the time to square yourself away with what you can and can’t do. Set the proper expectations for your clients and referral partners. Stay on top of all your preapproved buyer’s documentation and update everything you may need because the closer we get to the holidays, the more challenging it will be to get these things updated.
Finally, get your holiday schedule written down! There will be all kinds of demands on your time; be sure you do all the things you want/need to do will only happen if you schedule it!
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