We
all know how great it was having buyers standing in line with offers
turning into bidding wars as common practice, but these days it is
much more challenging to accomplish a successful real estate
transaction. Previously, agents could get away ignoring certain
aspects of the process, but today, agents must be creative and
educated within all facets of the industry. Some are open to widening
their view while others stay closed to the new challenges today's
market has generated. As time goes on, they will have to get on board
with current strategies or they will be left behind watching as
others excel in the industry.
The internet information overload, social media show down, and
tightened loan qualification restrictions give agents a great
opportunity to provide higher levels of service, bond with clients,
and gain success. Being a real estate agent is like being
self-employed, and today knowing your own industry trends, inventory,
and honing sharp negotiation skills, is just a part of a successful
real estate business.
One way in which
sophisticated agents are building their reputation and customer base
is by offering tips through social media. These tips should provoke
thought and action as well as covering all aspects of the real estate
process. Discussing credit scores, preparation for financing,
property values, choosing an Attorney and negotiation strategies in
the beginning of the process displays the quality of professionalism
offered, while solidifying relationships. Additionally, giving helpful
insights could draw new clients and broaden referral sources.
Here are some
useful tips to post on your social media with regards to credit
scores:
-Before you even
begin the process of shopping for a property you should buy your Fico
scores at www.myfico.com
to see what credit score you have.
- Ordering your
own credit scores from www.myfico.com
will not hurt your scores AT ALL.
- Only when
third parties pull your credit score drops occur.
-Fico is the
credit score banks use when reviewing the risk level of a borrower
before approving mortgage financing.
-An excellent
credit score is considered a 740 Fico score and above.
-Having the best
credit scores can save hundreds and thousands of dollars over the
life of a loan.
-The power of a
higher score could be a lowered interest rate. Even a 1% lower
interest rate on a $900,000 mortgage would equal a savings of
$200,000 over the life of the thirty year loan. The interest rate
would be 4.25% with the higher score.
-Reviewing credit early and using the right professional guidance can
equal better interest rate loans and huge savings.
Feel free to tweet, share on face book, or email any and all of these
tips to your customer base.
Making sure
credit is analyzed with future goals in mind is a MUST before taking
an action that can foil those plans and limit a consumers options for
a better quality financial life.
Call us if you have any credit questions or need feedback on a credit
report.
"Great credit brings great
opportunity!!"
Copyright 2012
