Today I just wanted to take a moment to outline our newest listing incentive plan. Here’s what you need to know.
Oftentimes, we hear from our listing agents that one of their biggest concerns when listing homes is that it’s hard to know the quality of the lender who will represent the buyer.
To help combat this uncertainty, we’ve created a listing incentive: giving the buyer a credit. You’ll be able to include this in your listing presentations with sellers and your advertisements on the MLS as well as other marketing materials.
Essentially, the amount of the credit depends on the loan amount. If it’s a jumbo mortgage, the credit will be capped at $3,000. If the loan amount is lower than the conforming loan limit, the buyer will be able to get a credit equal to 1% of the loan amount.
For example, if the loan amount is $400,000, the credit would equal $4,000. If it’s a $100,000 loan, they’d get a $1,000 credit. Basically, one point of credit equals about a 0.25% interest rate, so they’d be able to get very good mortgage terms, but only by partnering with us on your listing.
This listing incentive is a way for you to obtain certainty in your process and ensure that you’ll be able to close the contract on the closing date. It gives you more control over the process, and the buyer gets terms that they wouldn’t have been able to qualify for otherwise. It’s truly a win-win situation.
Now, we are realists—we know that we’re not going to get a whole bunch of participants in this program because buyer’s agents aren’t going to be too excited about using a listing agent’s recommended lender. We get that, but we just wanted a way to add value to our listing partners so we can help you sell more homes and help buyers build more wealth and memories with real estate.
If you’d like to sit down in person or speak over the phone about this incentive program, please feel free to reach out to me. I’d be honored to visit with you. Thanks so much for your business and trust! I truly appreciate it, and I can’t wait for what the future holds.