Sarah, a real estate agent, turned straw into gold by utilizing the HECM for Purchase Program.
A senior homeowner wanted to sell their current home and use just the net proceeds to purchase a new home. However, every real estate agent they met with resulted in the same outcome. The senior homeowner would not have enough remaining net proceeds to buy their next home, nor did they qualify for traditional financing due to low income and credit issues. When they met with Sarah, it was a different story. Because Sarah knew that the senior homeowner would qualify for a HECM for Purchase, Sarah made it possible for the senior homeowner to list, sell their home, and purchase a new home with NO monthly mortgage payments. The client never dreamed this was possible and thought they would have to stay in their old home and continue to struggle making their monthly mortgage payments. Because Sarah understood the senior homeowner’s needs, she represented them both in selling and buying their house. Click Here for a FREE information kit. To find out how much INSTANTLY your client qualifies for, click here!
So why did Sarah decide to be informed about senior homeowners’ needs?
Did you know that for the next 15 years, 10,000 baby boomers will turn 65 years old everyday? However, 45% of baby boomers are at risk of not having sufficient savings for retirement. For these homeowners, their home equity may be the number one source for retirement. Of the 21.6 million homes owned by baby boomers, 65%, or 14.1 million homes, are owned free & clear. That is over 6 trillion in senior equity! Best of all, a majority of this equity is located right in California.
How can real estate agents use this information to increase their listings?
There is a tool called a HECM for Purchase. The HECM for Purchase allows seniors to sell their current home and only use a portion of the sale’s proceeds as a down payment towards a downsized or upsized home. The HECM for Purchase makes up the difference of the purchase price and the senior homeowner can decide if they want to make a monthly mortgage payment. They still own their home and remain on title. Click Here for a FREE information kit. To find out how much INSTANTLY your client qualifies for, click here!
5 Tips to Increase Your Listings for 2018:
- Understand the needs of our senior homeowners when they are considering selling their home.They are usually selling their home as a retirement strategy. You can learn more about their needs at our Lunch and Learn seminars or call us at (888) 242-5959 – http://bit.ly/2AxXrNu
- Learn about Trusts, Power of Attorneys, Medicare, Medical & Propositions 60/90 etc. Real estate agents who have a good understanding of these topics come across well-educated and typically win the listing over their competitors.
- Educate yourself about the Reverse Mortgage product and more importantly the HECM for Purchase. Senior homeowners are challenged with qualifying for traditional purchase loans due to fixed incomes and less than par credit. We have an online HECM for Purchase guide that you can read and show your clients at any time – http://bit.ly/2iVft8d
- Register for one of our free HECM for Purchase classes. We host classes at most Real Estate Associations every month. For a list of upcoming dates in 2018, click here – http://bit.ly/2AxXrNu
- Earn your Senior Real Estate Specialist Designation. Learn about the differences between baby boomers and their parents. Check with your local Real Estate Association for possible classes as we don’t offer this class.
We hoped that you learned more about how to increase your listings. If you have any questions, give us a call at (888) 242-5959
Online HECM for Purchase Guide: ReversePurchaseGuide.comReal Estate Agents are Losing Listings by Not Following These 5 Tips. Don’t Be One of Them!