Growing Buyers=Nurturing, Watering & Tending the Soil
As the market picks up and recovers we have many potential Homebuyers out there who would like to buy a new home but have challenges to overcome.
Over the next few months I will be going over ways Builders can help frustrated, confused potential Buyers overcome challenges and turn them New Home Buyers.
So many potentials walking through the door have credit issues. From foreclosures to short sales to loan modifications, all of the above have the capacity to ruin credit for Consumers. Sometimes even the discovery process of these procedures, ruins credit. Many times when an Agent hears these infamous words, they tend to move on to the next potential that will be an easier, quicker sale. But there is more we can do here to help these less than credit worth potentials and make them your new buyers.
Let me start by saying, this is a huge shadow market and many of whom are NOW ready to start buying again. Having the recession starting in 2006/2007 and now being 2013, we have many who have waited the required time to buy again, which varies on a case by case basis but can be as little as three years.
So here is what I know…a Builder needs to find a trusted lending source to aid these potential buyers in credit clarification, correction and preparation to buy again. You will no doubt increase your sales dramatically by making this one change. Sales Agents should be able to enthusiastically encourage these buyers to take the necessary steps to achieve homeownership again and handoff these buyers to a Builder approved lender that specializes in this sort of credit mentoring.
Now sometimes the Builders primary Lender will be able to handle this kind of business but in most cases, this is a specialized lending team that hand-holds potentials, over time and throughout the credit correction process. By having a relationship with a lender who does this day in and day out you will have a better conversion ratio.
A wonderful idea is to advertise regular classes in your communities, in your ads and have a special place for them on your website, so those affected can be informed and attend. Have them performed on site, at your communities, in controlled smaller groups, after hours, headed up by the approved Lender and other specialists on this topic. The Lender can execute the classes, keeping your Agents free to answer questions about homes. By having multiple classes of different topics, it educates these buyers over time. This also shows these potentials that you are trying to help them achieve Homeownership by providing the education and tools they need to become Home Owners again. Be known as the Builder who cares… I don’t know about you but I would always rather do business with a company that has my best interests in mind.
This is a simple, inexpensive idea to help generate buyers out of your traffic and to be memorable to your new clients and a win-win for everyone!
Here is a sample of the hundreds of videos online to help educate Homebuyers on credit repair.