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Create your competitive advantage and sell more homes by understanding Purchase Reverse Mortgages. Join the small minority of agents selling more homes understanding/introducing Purchase Reverse Mortgages as an option for clients.
What is as a Purchase Reverse Mortgage and how does it operate? Knowing about Purchase Reverse Mortgages, having the ability to use them creatively and being able to address the first one or two objections will enable you to differentiate yourself from competing agents and sell more homes.
Two examples of how a Purchase Reverse Mortgage can help you sell more homes. Buy a home with no monthly payment while making significant cash available for years to come, and setting up a second home sale.
A Purchase Reverse Mortgage enables your clients to buy more house with the same money. Understand how this works and amaze your senior clients - especially those in two story houses,
Real Estate agents establish unique, often lifelong relationships with their clients. Seniors will often confide in you about their finances. By understanding how a Reverse Mortgage Refinance works you can significantly help seniors and open doors to their sphere of influence.
Zillow and other companies are developing apps that will enable customers to buy and sell homes on their cell phones. At the same time there are 10,000 baby boomers retiring each day who value trusted, personal relationships. SISREP enables you to build a real estate future in response to these industry trends.
Reverse Objection Number One: The bank owns my home with a Reverse Mortgage
The first objection you will hear is that the bank owns my home. This video introduces a simple three question technique: (1) who did you hear that from? (2) how long ago was it? and (3) did they look at a Reverse Mortgage? - to help you blunt initial negativity and explain that while their source was right the program has changed.
How to answer objection two: The bank will take my home
Your client may have heard a story where a wife not yet age 62 lost her home when her husband died and she was not able to refinance the Reverse Mortgage. FHA guideline changes have eliminated this as a possibility if ownership is easily set up correctly. Don't let this Reverse Mortgage flaw from the past stop you from making that sale!
Responding to objection three: Reverse Mortgages are expensive
All loans have interest and a Reverse Mortgage is a real estate loan so there are closing costs. Ultimately your client must weigh the benefits of a Reverse Mortgage against the costs to determine if the loan is right for them. Whether it is "expensive" depends on how well the Reverse Mortgage helps your clients achieve their goals.
Objection number four: My kids will inherit less when I die