Here at Trinity Enterprises we love partnering with lenders, brokers and realtors and consider it a true blessing. Together we can help customers get to where they need to be. A partnership of this kind is hard to find in the business world when competition is so tough. Trinity Enterprises LLC has come up with key points as to why realtors should consider our credit repair services.
You’re usually the buyer’s 1st point of contact and have the most influence over them during the purchasing process.
Tip: Most buyers contact a realtor to begin the process of buying a home. It’s less common for them to begin with contacting a mortgage company. Therefore, the realtor typically has the most rapport and the most influence over the buyer’s decisions.
Shopping for a loan may hurt the buyer, not help them!
Tip: Today’s lending guidelines are nearly identical. Credit approvals are obtained by running the credit report through an Automated Underwriting System (AUS). In most cases, FHA, VA, USDA & Conventional loans use the same AUS. Therefore, if one lender denies a buyer for an FHA loan, it’s almost certain that ALL lenders will deny that same buyer.
Having them apply with several lenders in order to obtain a PQ will result in excess inquiries applied to their credit report, and it can be very harmful to their credit score. Shopping around for a loan may only take them further from the goal!
Realtors initiate the sales contract.
Tip: Many times buyers with less than perfect credit will enter into contract without having a loan commitment based on assuming that they’ll clear the credit requirements in time for closing. Without the proper directives, increasing a credit score has never been an easy feat. No two credit reports are the same, so no two paths to victory are the same.
Taking time to make sure the buyer is credit-worthy when entering contract is much better business for all involved, and it also gives the buyer better negotiating power. Asking for seller concessions without a bank approval can weaken the odds of seller acceptance.
Have a steady flow of qualified buyers.
Tip: There’s getting around it, you’re going to come in contact with buyers who won’t be able to obtain financing for many months (or even years) to come. TIME IS MONEY!
Knowing which buyers will be able to obtain financing much sooner than later, and which ones will be long term projects can be the difference in selling 1-2 homes a month, and selling 3-5 homes a month. There isn’t always a quick fix with credit. We’ll help you determine which buyers to keep on the front burner, and which ones can safely be placed in the back.
Trinity Enterprises LLC’s credit repair services can be of great use to realtors, brokers, and lenders alike. We are always looking for ways to be better and are serious about helping your customers, but especially YOU when it comes to closing more loans. Call today!