Power Up Your Pre-Approvals: Making your borrowers and yourself stand out in any market!
Written By: Cheri Hanagan, aka: LoanLadyCheri, Northpointe Bank, Clarkston, MI.
Items included with this article:
Example Email of Borrowers’ Authorization to Disclose Qualification Information
Example of Completed Borrowers’ Pre-approval Letter
Example of Blank Borrowers’ Pre-approval Letter
At the recent Mortgage Girlfriends Mastermind Retreat we were given the opportunity to participate in an annual tradition called, ”What’s in Your Closet,” a session that allows attendees to share fresh marketing and business ideas in a supportive and encouraging environment.
I am still absorbing many of the ideas shared and am happy that I was able to share an idea that I successfully implemented this summer.
The HOT 2017 market created frustration for many fully-underwritten pre-approved borrowers and their agents who wrote offer after offer…after offer. Relying solely on a pre-emptive phone call to the listing agent to gain attention for your borrower may not be effective, especially when a call or message is missed in the frenzy of multiple offers or if the listing agent has the old, “I’m a listing agent” mentality that prompts them to avoid LO’s; and, it would be inappropriate and creepy for a buyer to show up on the seller’s doorstep to personally share their qualifications, right?
So, how can a buyer draw attention that makes them more likely to have an offer accepted?
Power-up the pre-approval letter!
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