How MLSs Can Support Brokers and the Community
Recently, large brokers have voiced their discontent about the focus and support they receive from their MLSs. The discord reached its boiling point last month following a panel discussion at CMLS in Boise, Idaho that sent MLS executives scrambling to touch base with their broker members.
Here's one specific tool that MLSs can use to strengthen the relationship with all of their members and provide an extra boost to your large brokers, too. It's called Down Payment Resource (DPR). It integrates with your MLS system to provide your members with information about down payment assistance programs in your area. It's the first step to removing the down payment hurdle for qualifying consumers.
While an average of 70% of listings in any given market are eligible for down payment assistance, these programs are often underutilized. Information can be difficult to find, but DPR makes finding this information simple. It aggregates data on all active assistance programs in your area and flags eligible listings in your MLS's data feed. At a glance, your members are able to see if a home qualifies for down payment assistance.
Everybody wins with this program. If anything, large brokers with more listings actually benefit even more smaller brokers do. Any brokerage that has a mortgage company as an ancillary business can benefit in two ways--the program can help generate leads for agents as well as the mortgage division. In fact, two-thirds of agents say that with DPR they are able to convert sidelined prospects into qualified homebuyers.
Large brokers can work with DPR to educate their mortgage divisions about how down payment assistance programs can significantly increase the number of clients that qualify for a mortgage--even with QM and QRM restrictions in place.
Watch the attached webinar to learn more about the DPR program and how it can help your brokers grow their business.
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RETECHNOLOGY PREMIUM MARKETPLACE RELATED PRODUCTS | WEBINARS | SPECIAL OFFERS
Help More New Buyers Qualify for Loans
Are you looking for ways to increase your mortgage conversion rates?
QM and QRM has made it harder for homebuyers--especially first-time homebuyers--to qualify for a mortgage. First-time buyers struggle to come up with the funds for the down payment even when they can afford the mortgage.
Fortunately, there's an exciting program that can help you increase your mortgage conversion rates by helping more new buyers qualify for loans and come up with the down payment they need.
It's called Down Payment Resource (DPR). It integrates with your MLS system to provide you with information about down payment assistance programs in your area. It's the first step to removing the down payment hurdle for qualifying consumers.
While an average of 70% of listings in any given market are eligible for down payment assistance, these programs are often underutilized. Information can be difficult to find, but DPR makes finding this information simple. It aggregates data on all active assistance programs in your area and flags eligible listings in your MLS's data feed. At a glance, agents and brokers are able to see if a home qualifies for down payment assistance.
Everybody wins with this program. Large brokers with more listings actually benefit even more smaller brokers do. Any brokerage that has a mortgage company as an ancillary business can benefit in two ways--the program can help generate leads for agents as well as the mortgage division. In fact, two-thirds of agents say that with DPR they are able to convert sidelined prospects into qualified homebuyers.
Large brokers can work with DPR to educate their mortgage divisions about how down payment assistance programs can significantly increase the number of clients that qualify for a mortgage--even with QM and QRM restrictions in place.
The best news for brokers? Down Payment Resource is FREE because it's offered through your local MLS. Here's the list of MLSs that currently offer the program. If you don't see your organization on the list, contact your MLS and see if you can get them to purchase Down Payment Resource on your behalf.
Watch the webinar below to learn how Down Payment Resource can help you attract new first-time homebuyers and enable them to qualify for a mortgage.
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How MLSs Can Support Brokers and the Community
Recently, large brokers have voiced their discontent about the focus and support they receive from their MLSs. The discord reached its boiling point last month following a panel discussion at CMLS in Boise, Idaho that sent MLS executives scrambling to touch base with their broker members.
Here's one specific tool that MLSs can use to strengthen the relationship with all of their members and provide an extra boost to your large brokers, too. It's called Down Payment Resource (DPR). It integrates with your MLS system to provide your members with information about down payment assistance programs in your area. It's the first step to removing the down payment hurdle for qualifying consumers.
While an average of 70% of listings in any given market are eligible for down payment assistance, these programs are often underutilized. Information can be difficult to find, but DPR makes finding this information simple. It aggregates data on all active assistance programs in your area and flags eligible listings in your MLS's data feed. At a glance, your members are able to see if a home qualifies for down payment assistance.
Everybody wins with this program. If anything, large brokers with more listings actually benefit even more smaller brokers do. Any brokerage that has a mortgage company as an ancillary business can benefit in two ways--the program can help generate leads for agents as well as the mortgage division. In fact, two-thirds of agents say that with DPR they are able to convert sidelined prospects into qualified homebuyers.
MORE >
Rewind! 3 Videos from our October Webinar Series
Did you miss our October webinar series? Never fear--we recorded them for you! Even better, we've made it easy to catch up. Check out the recordings of each webinar below.
Make Your Business Explode with a Powerful Lead Generation Program
October 8, 2013
Why do home buyers end up on third party portals like Zillow and Trulia, time and again. It's because even though the data on these websites is often inaccurate, they provide a more complete market picture than agent and broker sites do.
So how can real estate professionals compete with third party portals? By giving consumers what they want--more data! We teamed up with Quantum Leads to teach our readers how to do just that. Watch the video below to learn how to attract potential new clients directly to your website, and keep them there. Say goodbye to paying for promotion on third party portals!
Read our Product Review to learn more about Quantum Leads.
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Help More New Buyers Qualify for Loans
Are you looking for ways to increase your mortgage conversion rates?
QM and QRM has made it harder for homebuyers--especially first-time homebuyers--to qualify for a mortgage. First-time buyers struggle to come up with the funds for the down payment even when they can afford the mortgage.
Fortunately, there's an exciting program that can help you increase your mortgage conversion rates by helping more new buyers qualify for loans and come up with the down payment they need.
It's called Down Payment Resource (DPR). It integrates with your MLS system to provide you with information about down payment assistance programs in your area. It's the first step to removing the down payment hurdle for qualifying consumers.
While an average of 70% of listings in any given market are eligible for down payment assistance, these programs are often underutilized. Information can be difficult to find, but DPR makes finding this information simple. It aggregates data on all active assistance programs in your area and flags eligible listings in your MLS's data feed. At a glance, agents and brokers are able to see if a home qualifies for down payment assistance.
Everybody wins with this program. Large brokers with more listings actually benefit even more smaller brokers do. Any brokerage that has a mortgage company as an ancillary business can benefit in two ways--the program can help generate leads for agents as well as the mortgage division. In fact, two-thirds of agents say that with DPR they are able to convert sidelined prospects into qualified homebuyers.
MORE >