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The Listing Edge Program
 

The Listing Edge Program

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Providing Financing and Marketing Capabilities For Real Estate Agents to Gain Exposure and Help Increase Sales

Providing Financing and Marketing Capabilities For Real Estate Agents to Gain Exposure and Help Increase Sales

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  • Set up: When we spoke on the phone, I mentioned that Wells Fargo Home Mortgage’s promise is all about working together to help your customers. Well, that’s what the Listing Edge ® program is all about. Listing Edge is a great tool to help buyers and sellers, and it will also help you – as an agent in a competitive marketplace – find your edge. Please see following notes pages for talking points. Follow the directions below to print your presentation with talking points and/or to give your presentation without showing the talking points. We recommend that you don’t read the slides bullet by bullet but instead use these notes to help move your presentation. To print the presentation with notes pages: Select “File” from the menu above. Select “Print” from the list of options. On the “Print” screen, go to the “Print What” drop down menu and select “Notes Pages” The slide and the corresponding notes pages will print. To show the presentation without notes pages: Select “View” from the menu above. Select “Slide Show” from the list of options. The slide show will appear on the full screen of your computer. Use your arrow keys to move the pages.
  • OPTIONAL QUESTION: (Use to connect with agent, and as lead-in to program benefits). Before jumping into the details, let me ask you: How are you marketing your properties? How are you differentiating yourself in the market? What are the biggest challenges you’re seeing in our market right now? AFTER DISCUSSION: No doubt, there are a ton of challenges in our market right now. It’s a tight market and there’s a ton of competition. Not to mention that one of the leading reasons a home-sale doesn’t close: Financing. Acknowledging these challenges is a good transition because the program I want to tell you about – Listing Edge – is all about helping you overcome these very challenges. And knowing these challenges exist means that it’s more important than ever for you to find an edge and to have a point of differentiation.
  • The Listing Edge program provides marketing and financing options that can give you an edge by showing your clients and potential clients how you go above and beyond to sell their home – especially in markets where property values are declining and/or inventories are sitting too long.
  • As you can see, there are great tools to help you sell. Let me explain how each of these work.
  • This program offers you and the seller an alternative to lowering the price. Our temporary buydowns allow sellers to pay a temporary payment reduction for the buyer. This is especially beneficial since most buyers are looking for low, manageable payments. Let me show you how temporary buydowns work. This program provides you and the seller an alternative to lowering the price. Our temporary payment s allow sellers to pay for a temporary payment buydown for the buyer. This is especially beneficial since most buyers are looking for low, manageable payment buydowns. Let me show you how temporary payment buydowns work.
  • The first thing a seller wants to do in a tough market environment is drop the price. With a temporary buydown, there’s an alternative to help maintain the asking price and to further open up the buyer pool. Value to Buyer: The buydown can be of tremendous value for your buyer. It helps because they’re getting a lower initial monthly payment, and one that they don’t have to pay for – thanks to the seller. They can still have security of a 30-year fixed loan (if that’s what they choose). And of course, having a lower payment in the early years is particularly valuable when customers often need additional funds to support home improvements or big household purchases. Temporary Buydowns : This is about using creative financing alternatives to benefit both your sellers and buyers. The first thing a seller often wants to do in a tough market is drop the price. But with a temporary buydown, we’re saying “let’s not drop the price.” It’s another tool that’s not widespread in the market that you can leverage to help sell a house and distinguish yourself at the same time.
  • OPTIONAL: 1. Do you have any properties on which you’re considering reducing the price? We know dropping the price is always an option, and given our market, we’re seeing this more and more. But I’d like to tell you that lowering a price is not the only approach, and financing alternatives like a temporary buydown can be a big win for everyone. This example compares the option of dropping the listing price by $10,000 vs. applying a 2/1 temporary payment buydown. The example shows that a $10,000 price reduction is not necessarily more cost-effective for anyone – the buyer, the seller, nor the agent. For the seller, a price reduction immediately costs the seller $10,000 vs. $4,670.88 with the buydown. This is a savings for the seller of over $5329.12. For the buyer, with the buydown, the buyer can save over $256 per month in the 1st year alone and reduces payments by over $4670.88 over the buydown term. So, why not hold firm on the price, but at the same time, leverage flexible financing that can lower the buyer’s payment by $256.41 a month for the first year on a $300,000 house? Now that’s a lower payment that can grab a buyers attention! And this way, everyone wins! BASIC BENEFITS: A WIN-WIN FOR ALL Seller : The seller wins because the buydown could save them money in comparison to a price reduction. In the above example, it could save them well over $5,329. The seller is holding the price while passing on value to a potential buyer that makes the home more attractive – which is key in a slow moving market. The seller is conceding some, but much less than he/she would if dropping the price altogether. Buyer : The buyer wins because they’re getting a lower initial payment that they don’t have to pay for. And they still have the security of a 30-year fixed loan (if they so choose). As you know, having a low monthly payment in the early years can really help due to home improvements, and big household purchases. And given that many buyers tend to move after 7 years or so, this could be a great advantage for them. Agent : You win too by not having your commission cut from a lower sales price. And more than that: you look like you’ve come up with a fresh idea. And as you seek out new listings, this is a tool that can be leveraged to help drive additional interest in your property. And it also enables you to go after listings that are about to expire.
  • Now let’s talk about all the great marketing materials. (Note: HMC should bring samples to show agent). (Flyer is available on Easy Order, #102566) Promotional Flyers We typically place these in the house to help prospective buyers conceptualize one of the financing options. So, once the buyer is in the house, understanding the financing options can help their experience.
  • The Streamline 203(K) program allows homebuyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in. With this product, homebuyers can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or FHA appraiser.
  • Flexibility— Renovation amounts up to $35,000. Easy Processing— Loans can close in 30-45 days and REALTORS® are paid at closing! Satisfied Clients— Provides buyers a financing tool that allows them to make immediate changes/home improvements will make for more satisfied customers. Eligible Renovations— A broad range of improvements are allowed, including: Repair/Replacement of roofs, gutters and downspouts Repair/Replacement/upgrade of existing HVAC systems Repair/Replacement/upgrade of plumbing and electrical systems Repair/Replacement of flooring Minor remodeling, such as kitchens, which does not involve structural repairs Painting, both exterior and interior Weatherization, including storm windows and doors, insulation, weather stripping, etc. Purchase and installation of appliances, including free-standing ranges, refrigerators, washers/dryers, dishwashers and microwave ovens Accessibility improvements for persons with disabilities Lead-based paint stabilization or abatement of lead-based paint hazards Repair/replace/add exterior decks, patios, porches Basement finishing and remodeling, which does not involve structural repairs Basement waterproofing Window and door replacements and exterior wall re-siding Septic system and/or well repair or replacement
  • Easy Processing Buyers receive the money to purchase* plus the money to renovate in one seamless transaction. One application One closing One monthly payment Loan Amount is based on the “After Improved Value” of the property
  • If a prospective buyer likes the house, but it needs some updating, this loan would allow them to make the updates right after closing. If the house is perfect, but the color schemes don’t work, this loan allows them to paint and replace flooring to suit their décor. Instead of taking your buyers to another house, 203(K) Streamline financing enables you to show buyers how they can purchase the home and access the financing they need to make the desired changes with one loan !
  • Scenario : A buyer needs an FHA loan but the listing has issues such as lead base paint, termite damage, septic, water damage, mold or rot damage. This property typically would not be allowed with FHA financing. With the 203(K) Streamline it is! The borrowers simply get an estimate to have the issues corrected, finance the cost in the loan amount and have the work done after closing. Now the seller will not have to correct those conditions before the buyer could receive approval on an FHA loan. This is a win-win for all parties! Seller has their house sold, buyers get their new home and you get paid!
  • Special Invitation to Selling Agents: (NOTE: HMC should bring sample to show agent). What a great way to ensure your properties are getting maximum exposure! We develop a co-branded piece and send to 10 other agents you select. Opportunity To Steal Listings: And while mentioning other agents, this program also enables you to go after listings that are about to expire. You can focus on those customers and take this program to tell them you have a fresh approach that’s worth trying on their house.
  • Yard Sign: The Wells Fargo name resonates with potential customers as a powerful and trustworthy brand. This is a great way to convert lookers into buyers. Our financing options may help further expand the potential pool of customers. Note: You’d be surprised how many calls our yard signs generate. And we get those leads right back to you. MLS: Promoting that Wells Fargo Home Mortgage – the nation’s #1 retail mortgage lender – based on 2011year-end statistics by Inside Mortgage Finance 2/25/11, is providing special financing through the MLS can go along way to helping expand your client’s buyer pool. Example MLS statements: “Special financing available through Wells Fargo Home Mortgage”
  • So the Listing Edge program is just one of our unique programs geared to helping you. There’s more in the Wells Fargo Home Mortgage arsenal that you’ll be glad you know about! Let me just take a few minutes and give you the highlights of our Stagecoach Priority ® Value Package.
  • I want you to walk away knowing that: No other lender is as committed as we are to helping you grow your business. No other lender have what we provide. No other lender does it better than we do. That’s what the Stagecoach Priority program is about – delivering an exclusive package of benefits and services to help your customers.
  • Single Source ® Capabilities : What’s unique about working with Wells Fargo Home Mortgage is that you gain the power of an entire financial team to bring you the very best that we have to provide. In addition to my expertise, you can count on our Single Source capabilities – a team of specialists accessible through one lending relationship. Your buyers get the financing options from professionals with the right experience.
  • Priority Buyer ® Preapproval: As an agent, you’re busy enough. So make the most of your time by working with credit-checked, ready-to-buy customers who have a written Priority Buyer preapproval from Wells Fargo Home Mortgage. (It’s reliable, preapproved financing – in clearly specified loan amounts and terms – on official Wells Fargo Home Mortgage letterhead). It’s the easiest way for listing agents to separate firm leads from squishy offers. You’ll feel better knowing you’re dealing with serious buyers who have already completed the application, credit check, and first decisioning phase.
  • Buyer Connections SM : Buyer Connections helps our HMCs and their agents build business by creating a connection to current and future homebuyers, many of whom have not yet begun a relationship with a real estate agent. Wells Fargo has the technological capabilities and the commitment to connect buyers and sellers through local HMCs with real estate agents and builders who can assist them. What This Means For You?: Buyer Connections is a competitive advantage. Other lenders with similar capabilities typically route prospective homebuyers to representatives in their centralized platform versus sending them back to representatives in their local marketplace. When we route the leads back to the local market, it provides the opportunity to cultivate mutually beneficial relationships with agents and builders – resulting in better service to our customers.
  • So let me stop telling you “why Wells Fargo is your best choice,” and instead, share what everyone else is saying about us. REVIEW SLIDE: (with the following supporting points): Wells Fargo is one of the most powerful brands in the world. We provide funding for one out of every 4 homes financed in the United States. We’ve been around for 160years. What could speak louder to our stability, experience, and standard of excellence. This is important to know because as you team with us, this is what your association with Wells Fargo will communicate to your customers. So in essence, by working together, we both can become stronger. (The whole is greater than the sum of its parts).
  • Here are our rankings from 2011 You become #1 when you know what you’re doing. Wells Fargo Home Mortgage remains the #1 retail mortgage lender. More consumers choose to finance their homes with Wells Fargo Home Mortgage than any other mortgage lender! I’m not sharing all of this to be pretentious. Listing Edge is all about our teaming together to grow our business, and that includes your ability to leverage our leadership position with buyers and sellers. In essence, you have the power to leverage our standing. Who better to team up with than the nation’s #1 retail mortgage lender? Why wouldn’t you want to make certain you’re working with a proven entity and the company more consumers have chosen than any other lender? It’s a testament to our stability, experience, and credibility! Conclusion: You need a competitive differentiator in the market now more than ever. Listing Edge can help you grow your clients, and help you take your business to the next stage. Next Steps: Discussion on applying the Listing Edge program for existing and potential clients and listings.

The Listing Edge Program The Listing Edge Program Presentation Transcript