7 Steps for getting those people financed – Even in this Market

7 Steps for getting those people financed – Even in this Market

I was reading a blog that was adapted from Moving Mountains Design 11 Steps For Getting Your Home Sold - Even In This Market! ©2010  All rights reserved. So I adapted using some of those things advice on getting people financed.

You want to get these people approved right? You want to sell them that Car, Home, Refi… Homes are selling quickly so what’s the catch? Some of the potential buyers have some credit problems.

1. Advertise for buyers who think they “Can’t get approved for financing?” Get to know your buyer and help them.

Ask them questions like: Do you think you can get approved? What kind of negative things do you think are on your report? Do have any recent lates? Do you have any credit cards? You will actually find some people can get approved, I see it all the time. The other people get them in our credit restoration program, we clean up the negative and help them add credit with seasoned tradelines.  Most of them are ready in 30-90 days.

2. The full service companies are the ones that are getting the job done

You have to go the extra mile and provide them full service. These days, you leave them alone and don’t stay in contact with them, or help them with their problems. They will go elsewhere.

3. Don’t limit yourself to the approved buyers. Market yourself, the agents out their really trying to help those who can’t get approved are the ones making more commission than you are. I have seen agents send 15 people a week into credit repair, so he can get that kind of turn around in his pipeline. So it takes 2 minutes to refer them, and send the credit repair contact your clients contact information. So it takes a follow up call once or twice a month with these soon to be customers. It is well worth it.

4. Hire a professional credit restoration service. I see it time and time again. Agents trying to tell the person what to do. Pay those credit cards off, close them, pay off the collections. Only to have irate people coming back to them that are not approved. Let the professionals give the expert advice on what it is going to take to get this person approved. When it comes to credit issues, they are the ones that are going to lead you in the right direction.

5. Pay for the credit repair service or pay a bonus for deciding to use credit repair This is a great tool. You tell the customer you will help give them $400, $700 once they are ready and approved. One this not only motivates the customer to follow the program, it will keep the customer coming back to you for the money. It will be well worth your thousands of dollars in extra commission earned on these clients.

6. Do your research  Many companies will charge small fees or monthly fees and the success rates of those clients are not high, many of them miss payments, and hose their credit up even worse. Many companies drag them out for years and the customer ends up paying thousands of dollars. You want the best professional company, a company like ours that will absolutely bring you back the gain in the end results.

7. Don’t rush the process  Don’t rush your customer, remember this takes time, if the client does everything up front and continues monthly to adhere to the program – they will have the fastest results. Don’t let your customer pick and choose which recommendations they want to follow. They need to follow all the advice for the best results. They will only slow down the time it takes for them to be in a position to get approved if they delay things.

Remember: When you put your energy in this market, you are entering it in a beauty contest. The best agents are helping people. It's a no brainer!