3 Reasons Why Real Estate Agents & Mortgage Companies Should Partner With A Credit Repair Company
It is essential to partner with businesses in your industry to scale your business effectively and provide top-quality products and/or service to clients. Find a company that is as experienced in your field of business that can offer you value.
A person’s credit score can have a major impact on their ability get approved for a mortgage at a good rate. Clients with a poor credit score will make it difficult for you to accept them as clients or close a deal. Instead of closing the door on anyone who is interested in becoming a homeowner due to their credit, you can refer them to get credit repair services. This is why partnering with a Credit Repair company is the ultimate solution for any potential home buying client, that’s looking to purchase or finance a home.
Keep reading to see three reasons why real estate agents & mortgage companies should partner with a Credit Repair company.
1. Close More Deals
Eligible homebuyers are looking to close a mortgage as much as their realtor and mortgage company is. We all know that real estate professionals & mortgage companies could close more deals if more potential home buyers had a higher credit score than 620. With an improved credit score, an applicant who was a “maybe” can easily become a homeowner. Referring denied clients to a Credit Repair company will allow the client to become mortgage ready.
Once they are ready they will be sent right back to you so you can find the perfect home or mortgage for them. Think about how serious a client in pursuit of purchasing a home will be once they have completed a credit repair program and come back to you so you can help them find that dream home! Improving a prospect’s financial health is a win-win. You will improve the lives of your clients in a whole new way by helping them get a loan for the home they’ve been looking for, but felt was unattainable.
2. Close Higher Value Homes
Clients that have a credit score lower than 700 would value the realtor’s & loan officer service so much more, if they could offer them a lower interest rate for the term of the loan. Given the fact that any serious potential home buyer would have 3% or higher reserved for the down payment on the home, it would make more sense to utilize a portion of the down payment money to obtain a higher credit score so the client can pay less on the mortgage for the term of the loan.
Imagine this scenario: Let’s say your client John has an average credit score and he is able to close on a home for $220,000. In return you earn your portion of the standard 6% fee, totaling 3% or $6,600. Now say you referred John to a Credit Repair company to improve his credit score. After completing the Credit Repair program John now qualifies for a mortgage to close on a $300,000 home, your 3% commission increases to $9,000. Seems like a no brainer to us! Which is also at NO cost to you when you partner with a Credit Repair company.
3. Let the Leads Flow In
The trusted relationships you build while helping clients find the perfect home & mortgage will be deeper as you help refine and improve their financial independence. They will be more likely to refer you as a realtor or loan officer to friends and family who are looking to buy home.
Credit Repair companies work with all types of clients. Some clients already have a realtor or mortgage company in mind when they come to have their credit repaired. However, Credit Repair companies also get plenty of clients who don’t have a realtor or mortgage company to work with once they become mortgage ready. Credit Repair companies like to have a network of reliable realtors and mortgage brokers to refer their clients to that don’t already have a realtor/mortgage broker in mind. This is why partnering with a Credit Repair company is important. Not only will your leads be sent back to you mortgage ready but you will also receive mortgage ready leads to work with.
Learn More About Lifeguard Credit Solutions and How We Can Help!
When you partner with our company, Lifeguard Credit Solutions we can turn your credit challenged clients into credit worthy approvals. We specialize in removing inaccurate, incomplete and miscellaneous information off of thousands of credit reports each year. We use aggressive strategies and our knowledge of the credit industry to offer your clients maximum results.
Many credit reports contain mistakes, we help increase your clients credit score by removing those inaccuracies. When you refer your credit-challenged client to us, we will work to increase their credit score in record time and we always refer them back to you for your services. Remember we also have clients that are looking for homes and mortgages that did not come to us from a realtor or mortgage broker that we can refer to you directly. Once a client has been referred you can track your client’s progress in our online portal. When your client logs into our web portal, the first thing they will see is your photo and contact information as a reminder of their goal and the professional who referred them to us!
We will provide you with transparency throughout the entire process. Lifeguard Credit Solutions is licensed, bonded and insured. We currently serve realtors and mortgage brokers with most of the top companies in Massachusetts, New Hampshire & Florida. To partner with Lifeguard credit solutions go to lifeguardcreditsolutions.com and fill out our partner form.