Opening up a community at an open house

Mortgage originators are often looking for a way to differentiate themselves in a crowded market with real estate agents. One valuable way is to help a Realtor is to provide assistance with open houses (Remember my post, Your Problem is My Problem)

Open houses are a great way to build a one-on-one relation with a Realtor as well as meet some potential home buyers – i.e. mortgage applicants. But how can you further differentiate yourself from the other loan originators who’ve got the same idea? Here’s one such idea.

Many originators who work with Realtors provide rate sheets at the open house. The sheet is best used when it is specific to the home. I’ve seen well done ones that include a picture of the home and various product options and rates that show a potential buyer what it would cost them per month to buy the home. The better ones also show the actual property taxes and estimated monthly insurance to give the complete monthly payment picture. Also, the originator includes their photo and contact information.

Here’s a new twist that one loan originator has been using. This originator took the same info but augmented it with lifestyle data. They are trying to help the potential buyer understand not only the mortgage but also the community in which they would be living.

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