Below is a great article written by Tara-Nicholle Nelson. Â Tara definitely has her
pulse on the market and just good common sense for Realtors to be aware of when
working with buyers and sellers.Â While
her article is directed at Brokers it is a great article for the consumer as
Rather, to market to 2013 buyers and sellers, we have to
dive deep into their micro-Resolutions, if you will: the baby step goals they
are putting on their lists of wildly important goals (WIGs) for this coming
year. Letâ€™s explore 5 of the micro-WIGS that 2013 buyers and sellers are
setting for themselves this very moment, and how you can use them to position
yourself as their go-to local agent.Â Buyers and SellersÂ Remember, the
vast majority of sellers are moving on up, which means theyâ€™re planning to buy,
1. Save/find down payment money.
Both buyers and sellers are more concerned than ever about making sure they
have enough down payment money to seal the deal. Â In fact, many are still
operating under the mistaken impression that their only options are what they
were at the bottom of the market: a high-closing cost FHA loan that will allow
the low down payment of 3.5 percent or a 20% down conventional loan.
You can market to these folks by helping educate them that
there are many other loan programs available now, including 5% and 10% down Conventional
loans, and 80/10 programs which allow those with 10% down to get a mortgage
without paying PMI. Â Also, consider
co-marketing with a reputable mortgage broker or financial planner, or offering
local first-time buyers access (via social media or seminars) to content like
this post, which surfaces unconventional ways they might be able to gather up
the cash they need to make a down payment.
2. Pay down/off credit card debt.
Financial goals like reducing
or eliminating credit card debt generally fall into the top 10 resolutions set
by Americans at large â€“ and Iâ€™d take an educated guess that this goal is even
more prevalent among buyers- and sellers-to-be.
If you send out a monthly client newsletter or your own
resolution list includes starting a Trulia Voices blog, you can be sure to get
the attention of 2013 buyers and sellers-in-the-making by posting content that
supports their debt-reduction goals. Want a writing-light way to do this? How
about creating and publishing your own list of credit-card debt-reducing blogs,
websites, books or local resources, like non-profit credit counselors or
support groups? Â Position yourself as the expert by adding your own
strategic insights to make sure they donâ€™t go overboard and make moves that can
make it harder to qualify for a home loan, like closing out all their credit
accounts or leaving everything with a zero balance.
3. Boost credit score.
Remember, many of the buyersÂ andÂ sellers
who will be looking to make a real estate move this year are coming out of the
near-universal financial crises of the recession era. They might have had a
past bankruptcy or foreclosure, or a job loss which interrupted their income
temporarily, causing them to make a few late payments which brought down their
credit score. And generally speaking, they are highly likely to
What can you do to market directly to those who are setting
the baby step resolution to boost their credit score?
â–¡Â Â Â Â Â Â Â
Co-market a credit score clinic with local
mortgage broker, actually running credit scores, putting individualized action
plans in place and briefing buyers about what sorts of local homes they can get
before and after they do the recommended work
â–¡Â Â Â Â Â Â Â
Place locally targeted ads in social or other
media, positioning yourself as a specialist in helping those who need to boost
their credit scores and get financially ready to buy a home.
â–¡Â Â Â Â Â Â Â
Create educational articles, blog and social
oÂ Â Â Â Â Â Educating
your local readers and followers on what their credit score really needs to be
to qualify for a home loan â€“ many will think the minimums are higher than they
oÂ Â Â Â Â Â Encouraging
them to begin pulling their own reports and giving them some basic,
credit-boosting action steps to follow, plus the link to the free,
government-mandated reports at AnnualCreditReport.com.
oÂ Â Â Â Â Â Reaching
out to your contact database and letting them know that you have resources for
any of their friends and referrals who would like to buy but are worried about
credit issues: you might be surprised at how many of your contacts will respond
asking for help for themselves!
4. Foreclosure recovery. Â
There is a burgeoning buyer
sector made up of people who owned homes and lost them to foreclosure, and have
been renting for the last few years until they were ready and able to buy
again. This group can be a very desirable niche to work with, as many are cash
flush from paying lower rents and they tend to be extremely motivated to get
the privacy, lifestyle and tax advantages of home ownership back in their
You can market to and reach these buyers by publishing ads,
newsletters, blog posts and local newspaper articles about common lender
foreclosure seasoning requirements, as well as common roadblocks and
workarounds for buying a home after a foreclosure.
Most sellers will wait to work
on the nitpicky staging projects until after they reach out to list their homes
for sale. Â But many who have a 6-12 month time frame for sale are very
well aware of some major projects they are assuming theyâ€™ll need to do to the
property, and will move forward with them in advance of contacting agents for
If you farm a particular neighborhood, why not offer a
Pre-Listing Property Preparation Consult in your monthly newsletter, email or
postcards? Â Include a data point about how your listings (or well-prepped/staged
homes in general) sell fasterÂ andÂ for more than average. Then offer
to come in as much as a year in advance and give sellers resources and a
personal consult for getting their home ready to sell, including advice about
what investments they should notÂ make and your own personal list of
recommended, cost-effective vendors.
Chances are good that the agent that meets with sellers and
gives sound strategic advice months in advance will have a major leg-up when
itâ€™s time to sign a listing agreement.
As real estate pros, itâ€™s essential that we spend our spare
time exploring whatâ€™s inside the mind of our prospective clients. How better to
serve and satisfy their needs, as well as marketing to and for them? Â If
you want to become a buyer or sellerâ€™s agent for life, understand their goals
and Resolutions â€“ at all times of year â€“ and provide resources that assist them
in realizing their aspirations. Youâ€™ll become a trusted advisor in multiple
areas of their lives, as well as their undisputed go-to resource for all things
Written by Tara-Nicholle Nelson