As we get closer to the peak of the home buying season, it becomes more and more important that loan originators maintain connected and share prospective of their current market. While markets may be similar, most people only hear about national numbers when they look for mortgage and real estate information. The news media and other online information sources may quote the national trends, but that information could have little to nothing to do with their specific market.
The best example I see is that national reports are sighting that housing inventories are growing and that sellers are no longer in control of the market. Interesting story for sure, but to those living in tight markets, those very markets that see multiple offers and offers well above asking price, those number don’t apply. Imagine the buyer who reads this story who lives in that tight market and demands that his agent present an offer that is significantly below asking price? Trying to get a “deal” on a house under these conditions will likely result in that buyer missing out on some really good homes!
Perspective and local knowledge is a major advantage to those who understand and track the local market. Knowing that information and then sharing and preparing our clients is the true sign of a local expert that most online lenders or call center players can’t possibly share! One size doesn’t fit all, and eight minutes may not provide for a great experience if getting into the market with the wrong information.
The best example is that the poor people who are being caught in multiple offer situations time after time. They keep looking and losing bid after bid. They can become frustrated and start to give up on the dream of getting a house. Now is the time to support them. Share other experiences where client were in the same position but kept going and eventually got the house of their dreams.
It’s also important to help your referral partners remain strong in the same way. Low inventory can be a problem, but help them find the homes they need by sharing some of the strategies we have talked about. Be committed to keeping them positive and active when it would be easy for them to bail out and walk away.
People who succeed are often the very people who kept after it when others quit. They made one more call, knocked on one more door, spoke to one more homeowner or asked for one more opportunity to make something happen.
Nobody cares about the thousands of light bulbs Edison made that didn’t work; they just remember the one light bulb that did! Share your local knowledge by sharing your perspective. Use your strategies and be willing to do the work the other people won’t do and you will do better every time!
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