Attention Realtors
Do NOT ask your seller to reduce their price again, or turn down another low-equity or difficult seller listing, until you consider this information and our program ...
Let's start with the notion that if the only tool in your toolbox is a hammer, every deal tends to look like a nail! This article is about some new tools for your toolbox.
I'd Qualify if ...
We both know that there are many prospective buyers that CAN NOT currently qualify for a mortgage. How many times have you heard "I'd qualify if I had more down payment," “I'm newly self-employed," or "my credit score needs some improvement"? The mortgage rules keep getting tighter and it's cutting more and more buyers out of the real estate market. At the same time …
Many property owners need to sell but are stuck.
How many property owners do you know that are making payments on vacant properties? How many can't or won’t list their homes simply because they can’t afford the mortgage payout penalty or don’t have enough equity in the property to pay Realtor commissions, or they want an unrealistic price in order to compensate? What about the houses that just won’t sell, whether condition, location, or size?
The more you watch for these two situations, the more you become aware of them. Believe me, they’re everywhere.
Vendor financing is the tool to put the two together and get paid!
If you are like most Realtors, you don’t pay attention to this segment of the market simply because you don’t know how to serve it or you are too busy. However for savvy Realtors willing to learn, there is a wonderful and ethical opportunity to help both buyers and sellers and to get paid in the process. It’s called selling homes via vendor-supplied financing, and often goes by names such as Rent-to-Own, Lease-Purchase, Agreement for Sale, or Vendor Take Back mortgage. Set up correctly and using the services of a well qualified mortgage brokerage (us! :), this can be a win-win for all parties.
Vendor Financing Program Benefits for Realtors
- Offer solutions to sellers who can’t otherwise sell. You’ll have solved a major problem that they won’t soon forget, and will likely mention you to their friends!
- Earn a commission in the process!
- Help the seller buy their next home and earn a commission there also!
- Buyer gets to move into a property they like immediately, do their own renovations, increase their equity, and instantly feel the pride of home ownership.
- Partnering with a mortgage broker provides the necessary comfort to your seller that the future buyer has been properly screened and the deal properly structured.
- Partnering with a mortgage broker comforts the buyer that if they do what they are supposed to do they should qualify for their own mortgage (down payment, credit, income, etc.) when the time comes.
- As a Realtor partner familiar wiith our program, you now have a reason to call your current listings and present some "other options," and take some of the heat off.
- If you have candidate properties, we can tag-team and help explain the program to your sellers and help generate leads for you via our website.
Next Step - Download our free Vendor Financing Whitepaper for Realtors or contact us for more info.
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