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    Finding Home Sellers Early in the Cycle

    Sep 4, 2018 12:54:13 PM

    Do you think you could add value to your Agent relationships if you could refer them home sellers?  Do you know who is gearing up to sell their home?  We do. 

    This article explores ways you can acquire real-time knowledge about a homeowner’s intent-to-sell (think Agent referrals!), which typically triggers an intent to buy (think new originations!).

    Below are two scenarios of home seller behavior:

    Scenario 1: John and Sue Homeowner decide they want a new home. They call their trusted real estate Agent; by the end of the day the home is listed. It sells in a week! Off to the bank they go to apply for their proposed loan. By the end of the day, it’s pre-approved for even more than they want to spend. Shopping now begins in earnest for their “dream home” … an offer made and accepted … the transaction settled in less than 30 days.What could be easier, right?

    Yes, this scenario does happen. But rarely! And it’s unlikely that it happens entirely this way. A more common unfolding is something like this:

    Scenario 2:  John and Sue decide they want a new, more expensive home. They know their current home will sell fast. Prior to listing it, they go online and start researching property offerings and financing options. They are bombarded with information, to include many requests to submit a “pre-qual” loan application. Which they do. Several, actually.

    Discoveries are made. Their FICO is a bit soggy; their DTI too high for the mortgage they’ll need. Credit card balances must be reduced; a collection account paid; an RV sold; and, multiple auto payments pared. (Not uncommon stories for today’s active consumer!)

    Strategies are mobilized to get their credit-characteristics lined up with their “dream” … but it takes months and months. All along this course there are many encounters with the digital-sphere that keeps track of these behaviors. What MonitorBase calls, “breadcrumbs” … that is, proven triggers that reveal consumer intents. They are vast, with lots of data-noise swirling around the few notes of good music!

    Extracting from these databases actionable-intelligence (knowledge) is an intense, complicated, and ever-changing art and science. But it is in these breadcrumbs where your competitive opportunities lie.

    What if you could find out that a homeowner … be it your previous client or an unknown member of a targeted population ... just engaged in credit behavior that is highly predictive of selling intentions? With this information, you can …

    Refresh your relationship with previous borrowers before other vendors get their arms around them.

    Introduce your skills and services to new prospects “ahead of the pack.”

    Become a valuable resource and navigator early in the process. As the saying goes, “The early bird gets the worm!”

    Develop listing and purchase-leads you can refer to real estate Agents. It goes without saying, this is hugely powerful for building and cementing referral-partnerships. And where low property inventories are the current state in so many markets, producing a listing for an Agent will surely create lots of positive shop-talk … if not some amazement: you know about potential listings before the Agent-community does!

    MonitorBase’s “Predictive Marketing Program” is your gateway! Combined with our credit inquiry-alerts system, you’ll have leading-edge access to timely information about movements … be they selling a home, buying a new one, or refinancing. It works. It’s easy. And your marketing-ROI can be impressive!

    To learn more about how to follow the breadcrumbs, click below:

    Tell Me More About Predictive Marketing

     

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