Why should an agent know what loan programs are available??

This is an area that I personally feel is crucial for real estate agents. You have to know your various forms of payment as much as you need to know your merchandise....It is not just about selling the home, but about instilling hope and excitement into a potential buyer. My experiences are that there are many buyers out there that THINK they can not buy because they have no clue about the various programs offered by each state, county and lender.

Example : I go to a furniture store and I see a great living room set. I ask the sales person how can I buy this.. He says - I don't know.. You have to go back to customer service and ask. Maybe you will and maybe you wont.

Example: Hi, can I help you? Yes I like this furniture set. Well did you know that we have interest free payments for the next year if you purchase by the end of the month. If that program doesn't work for you, we have a low monthly payment installment. Here, let me take you to customer service and introduce you to the finance manager so they can find the best program for you.

HELLO.. how can that not be a fabulous asset in your real estate tool kit?

Agents, it is vitally important that you and your preferred lender do lunch and get to know the programs they offer. You are more than likely the first person the buyer will contact. Either through being sent a lead from a lead generation, them checking out homes on your website or casually talking to you at the grocery store. The odds are they will look first before checking out their lending situation.

There are many lenders that do not know the various programs because they are not trained to handle them. USDA rural development is a fabulous program that not all lenders are educated in. It is important for you to find lenders that are trained to handle not just FHA, Conventional etc but the SPECIAL FINANCING programs available in your area.

There is a whole market of Buyers who think they can not buy without 20% down and 800 credit score. That is not true and therefore these Buyers are continuing to rent and miss out on the low interest and programs available TO THEM and you are missing out on some very special Buyers!