Mapping the right experience for your Buyers

Seeing Your Strategic Lending Partner through the Eyes of Your Buyers

What does your strategic partner look like from the outside? When your buyers call them, what do they experience? When they apply for credit, what information, support and follow-up do they get? And when they have a problem, how do they get it resolved to their satisfaction? Does this leave them wanting to do business with you in the future, or vowing never to buy a home from you again?

The chances are you know part of the answer to these questions. But dealing with large mortgage shops, the full picture may be scattered across from the originator to the processor to the loan set-up department and amongst various members of your team. What's more, your buyer' real experience may not be anything like as good as you think it is.

If you want to know exactly how customers experience your real estate business, Mapping The Right Experience For Your Buyers (also called Buyer Mortgage Mapping) is a powerful tool. Tactically, it's a great technique to help you improve buyer service processes and resolve referral buyer complaints. Strategically, it helps you build a better real estate selling product, service or brand, thereby helping you win repeat business.

Many real estate agents are surprised when they look at their strategic lending partner through the eyes of the buyer.  Yet the mere fact of doing so, can double the wallet share of an agent and keep your pocket book or wallet full.  After all, most agents lending partners have been optimized for themselves rather than what the buyer is looking for.

By formally mapping the buyer experience, Watson Summers Group of Southwest Funding can help you:

 

develop a picture of what your buyer really experiences as he/she interacts with your strategic lending partners business and mortgage products

understand the reason behind the choice of loan product your buyer was placed in, lock recommendations and insights that come into play at each step of the home buyer journey

develop a plan to reverse farm information that was extracted from your buyers experience and how to map that profile to like minded buyers 

In the process we can help you develop the measures, methods and strategies that allow you as an Realtor to structurally act on this knowledge.

We are interested in interviewing specific Real Estate Agents to determine if they would have interest and commitment in developing a “strategic partnership” to work together in offering more mutually beneficial services to home buyers. We know that by creating this expanded service platform, we can offer clients a higher level of service and begin building a solid relationship that builds trust and creates true repeat business.

Watson Summers Group

317-925-1877

Give your buyers the best home-buying experience ever!

Strategic Lending Partner

 

Picking the right team for the right job

Two days before closing, Norma Andersen called the title company to schedule closing for her client, doing this would secure a time for her buyers that met the needs of all parties. The closing agent wanted to be sure that they would have the closing package on time, so she called the mortgage company to make sure the closing package would arrive at least 24 hours in advanced so all the documents can be checked and the closing statements can be sent out and signed off on. 

Unfortunately, the loan officer stated he was waiting on loan conditions from the underwriter and he did not think the closing was going to happen. The 24 hour package delivery did not happen, the closing that was to happen in two days passed, and the underwriter sent a denial letter to the buyer that said unfortunately your loan has been declined you do not qualify for the program entered.  

Same scenario   

Two days before closing, Eric Straighan called the title company to schedule closing for his client, doing this would secure a time for his buyers that met the needs of all parties. The closing agent wanted to be sure that they would have the closing package on time, so she opened her email from Watson Summers Group of Southwest Funding and notice that loan was Cleared to Close and the closing and that the loan officer was simply awaiting instruction on where to send the closing package. 

Eric had already received the Clear to Close from the team over at Watson Summers Group 24 hours prior.  

In a strategic partnership between real estate agents and mortgage originators, a lot of time is spent choosing the one who will be best to represent the buyers interest in a mortgage transaction. The business relationship becomes strategic when there's a level of mutual dependency, and when the alliance itself is what creates increased capabilities and opportunities.

Agents need to select the right originators for the right buyers, and refer the buyers that fit with the originator skills and proficiencies. This provides structure.

So how do you do this? To field a match-winning team, first you need to understand that just because a retail loan officer might work for a big company doesn’t mean that originator is going to do a good job for you and your buyer, you are best to work with a smaller team like Southwest Funding’s, Watson Summers Group who has the skills and abilities required to meet different buyer needs: There’s no point asking a soccer team to play baseball if you want to win in the real estate game.

You think it is mere common sense, that if you work with the bigger you would sell and close more buyers, you would think – but then, as the old quip goes, “common sense is often quite uncommon”.

We are interested in interviewing specific Real Estate Agents to determine if they would have interest and commitment in developing a “strategic partnership” to work together in offering more mutually beneficial services to home buyers.  We know that by creating this expanded service platform, we can offer clients a higher level of service and begin building a solid relationship that builds trust and creates true repeat business.

Watson Summers Group

Mortgages - A Tough Time for Self-Employed Borrowers - NYTimes.com

Mortgages - A Tough Time for Self-Employed Borrowers - NYTimes.com

7 Tips To Raise Your Credit Score Before You Apply For A Mortgage

 

7 Tips To Raise Your Credit Score Before You Apply For A Mortgage: Brought To You By Your Most Enthusiastic Cheerleads.

The job of a cheerleader is to deliver the "sis boom bah," to psych up the team. The job of the mortgage professional and the real estate agent is to also be the protagonist of the potential homebuyer. We are to motivate you and give you the tools and tips to have a successful home buying experience. Properly prepared homebuyers don’t have loan approval issues, borrowers feel confident in any situation, and are able to think on their feet because your “Cheerleaders” have prepared you well for the game.

Tips From Your Greatest Cheerleaders:

• Keep revolving balances below 50%
• Don’t open new accounts
• Don’t pay off older liens or judgments' wait until your loan officer has reviewed your credit.
• Bring past due balances current
• Avoid any late payments
• Keep a mix of revolving and installment accounts and use them regularly
• Don’t buy cars, furniture or other items on credit before closing

Now go out there and get in the GAME! Contact your preferred mortgage person and contact a Realtor, now you have the tools the tips and the team, check back regularly for more tested mortgage and credit related advice. 

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Robert B. Summers

317-925-1877

The Top 3 Things Not To Do When Applying For A Mortgage In 2010

The Top 3 Things Not To Do When Applying For A Mortgage In 2010

One of my favorite quotes I have read is by William Ward, who explained the roots of being prepared with his memorable motto: "The mediocre teacher tells. The good teacher explains. The superior teacher demonstrates. The great teacher inspires." The home-buyer is fortunate today to be surrounded by competent Mortgage Professionals and Realtors^® as teachers who have the skills to translate the complex home buying process into something easy. These three important steps are always explained during the home buying process when dealing with seasoned and tested mortgage and real estate professionals and will ensure you have a smooth home buying transaction.

Take Careful Note:

Any of the following actions will change your loan approval criteria. In some cases, the change could nullify your loan approval.

1. Do not apply to other creditors (including automotive, credit card, department store, leasing companies) during the processing of your loan.
2. Do not make large purchases on your credit cards or other credit lines.
3. Do not make large deposits to your checking or savings without an explanation and verification of the source of the deposit.

When dealing with mortgage or real estate professionals be sure you are dealing with one who has a history of delivering product knowledge and has a tact for educating their customers. Never choose a loan officer or agent simply because they have a “Big Corporate National Name” behind them, remember that name represents the company it shows nothing for there individual merits.

Robert B. Summers

Homebuyers tap Watson Summers Group to Provide FHA 203k Financing for Homes in need of repair.

Homebuyers tap Watson Summers Group to Provide FHA 203k Financing for Homes in need of repair.

Homebuyers tap Watson Summers Group to Provide Financing for Crooked Creek Homes

Homebuyers tap Watson Summers Group to Provide Financing for Crooked Creek Homes

Homebuyers tap Watson Summers Group to Provide Financing for Butler-Tarkington Homes

Homebuyers tap Watson Summers Group to Provide Financing for Butler-Tarkington Homes