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Coach Agents to Help Buyers Navigate the Loan Market

Tight inventory and an easing loan market mean you need to coach buyers and agents.

(Boonton, NJ, July 21, 2015) — Mortgage markets are slowly easing, but the inventory of homes for sale remains tight.

That means plenty of competition among buyers — an uncomfortable reality that also offers up opportunity. If your agents know how to help buyers navigate the mortgage market, they’ll be more likely to close deals.

Gary Weaver of WJ Bradley Mortgage Capital in Los Angeles suggests working with a mortgage expert to create a script or presentation that outlines the basics of the mortgage market — the types of loans and lender requirements for credit scores, down payments, and income.

"A consumer who’s more educated in the process will be a lot easier to work with," Weaver says.

And today, even borrowers with poor credit scores and little cash can qualify for loans.

"You don’t need excellent credit, and you don’t need 20 percent down," says Kathy Cummings of Bank of America in Charlotte, NC.

Details on educating your agents to educate their customers, appear in the July issue of Real Estate Broker’s Insider newsletter.

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