Contact has shown intent to purchase in the past but didn't complete a transaction. However, this county's inventory is starting to improve in the past month.
Alert Background:
This contact meets the minimum credit criteria set by your organization. They have shown intent to purchase a home in the past, but no new mortgage resulted from their previous activity. Inventory has improved in the past month in their county, meaning there is more of a possibility of getting their offer accepted as a first-time buyer than before in a tighter inventory market. They may or may not have found a buyer's agent to work with. If you refer a soon-to-be buyer to an agent, you will likely get more of their other soon-to-be buyer business.
Script Example:
This script is one example; feel free to make it your own and communicate the message in your own words.
"Hi (First Name),
It's (Your Name) from (Your Company)."
Make the Connection: At this point, you want to remind them of how you know each other. This will change the tone of the conversation from a cold call to a warm call. For example, if you spoke to them about buying in the past, bring that up. If this is a contact that an agent provided to you, let the client know the connection, for example:
"We spoke a year ago when you were looking into buying a home..."
OR
"I work closely with (Agent Name)'s clients..."
OR
"We went to college together ..." (you get the picture, right?)
Now that the conversation has relevance, it's time to start talking about them...
"You may have seen the letter or email from me recently; my system periodically reaches out to clients that may be in the market, and your name popped up, so I thought I would give you a quick call. In addition, it looks like the housing inventory is improving in your area, so I thought I would reach out and see if I could answer any housing market or mortgage-related questions for you."
Now let them talk, and ask follow-up questions that will get them talking about their plans, for example...
"Have you been looking at any homes recently?"
"Are you currently renting?"
"Is there anything preventing you from buying vs. renting that I may be able to help you navigate?"
Give Value: Let the conversation continue from here, with you asking questions about them. Let them tell you how you could help them. Remember, buying a home is a complicated process. All you are looking for in the initial call is if they intend to buy in the coming months. People don't want mortgages; they want homes. The more value you can give, in the form of insight or answering questions, the more likely they will open up and have a meaningful discussion.
Differentiate Yourself: Talking about rates and terms will put them to sleep. Rates and Terms will sound very similar from one lender to the next. Tell them how you are unique compared to other lenders and why you like helping find their dream home.
Possible Next Steps:
The contact is ready to buy in the next 1-3 months:
- Answer any questions they have and get them pre-qualified!
- If they aren't ready to pull credit, let them know about your SoftPull tool, and you can still get the pre-qualification process going without a hard credit pull. Answer any credit and income-related questions that may be a barrier in their mind.
- If they don't already have a buyer's agent, ask them if it's ok if you introduce them to a good agent you know and trust!
- If possible, make an introduction to the agent so the client has a warm intro and the agent knows that the referral came from you.
- Keep in touch often throughout the process.
The contact isn't quite ready, but is thinking about it, maybe within the next 4-8 months:
- Send them an email thanking them for the time and let them know you will check in in 30 days. This will ensure they have your contact info if they have any questions along the way.
- Set reminders in your CRM to follow up with an actual check-in email or call once a month.
- If they don't already have a buyer's agent, ask them if it's ok if you introduce them to a good agent you know and trust!
- If possible, make an introduction to the agent so the client has a warm intro and the agent knows that the referral came from you.
The contact isn't interested at this time:
- Send them an email thanking them for their time, and leave your contact info.
- Tell them you are here to answer questions even if they aren't ready to buy.
- Add them to your value-driven nurture campaigns in your CRM.