Shift your market to HUD Owned Homes and Foreclosures. About 50% of all sales in my market are HUD Owned Homes and Bank Foreclosures. I have shifted my focus and advertising to these markets and find business is good. There are buyers for these homes, first time home buyers, investors, and buyers moving down the economic ladder.
It is also time to become a Mortgage Loan Expert. You must know the mortgage products that will fit your buyers in this market. There are many products for your buyers if you will research and know what is being offered today. In the good days, you did not need to know much more than a few loan officers' names and phone numbers. Not today.
You need to know everything about FHA loans, CHIP loans, Dream loan programs and local grant programs.
Time to get to work, it will not just fall into your lap, like the good old days.
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