We have talked a great deal about the August changes. I have done a series of webinars and put together an e-book and shared a report by Price-Waterhouse on the website that I think is great. For my private clients, you have been working the plan and are now prepared for “Phase 2” of the program, which is getting out and sharing the information with your referral partners. Yes, we have spent the last six months working on our file flow so we could be comfortable with our process and be sure our “Clear To Close” timeline was at least three to five days prior to closing. We have mastered that skill and now are comfortable sharing the plan on how we are all going to still close loans in 28 days or less from receipt of the full application.
We now are required to share the message about the August 2015 changes, and even if there is a delay in implementation granted, why wouldn’t you want to have a system that got the job done in 28 days or less? That is just great business!
So in order to get the word out we need to implement a plan. If we use the visitation schedule on the website that shares how to create a list of “ABC” referral partners, and the very timing of visits so you cover everyone effectively. Here are what I see are the sixteen steps you need to cover to be sure everyone is ready and prepared for change! Each one of these steps is covered in detail inside the e-book “August 2015 Changes – Coaches Playbook”. I will share the items with you today, and go into more specific detail on one item a week over the next sixteen weeks so you have guidance along the way.
Here are the sixteen topics:
- Overview – Price-Waterhouse report on homepage is a great start!
- Forms – Share the new forms so your people are comfortable.
- Pre-Approvals – Why not looking at documents will cost you!
- Timeline – If you don’t have it, you won’t close it on time!
- Listings – Things the better Realtors® will do to close more deals!
- Sellers – How to engage sellers and win their business!
- Contracts – Do’s and Don’ts of handling the sales contract.
- What is a Day? – Be able to define what you mean by business day.
- Property – Why you can underestimate type and condition
- Programs – Why the loan program can change everything!
- Inspections – They really don’t take ten days!
- Appraisals – Make the Realtors® defend their price.
- Repairs – You just can’t give a credit at closing that easily.
- Insurance – Homeowners, flood, and PMI can kill your deal.
- Walk-throughs – Not just a casual event you can leave for the last minute.
- Changes – Why what may seem like a minor change can create issues.
Over the weeks and months to come I will walk you through this process with usable information that you can share with your clients and referral partners. So this week your message needs to be crafted around the Price-Waterhouse report and have a link handy to share with those who want to know more.
Great information is only part of it. You need to get out and share it with those who need to hear it. Most of the people in our industry are just going to extend contracts by fifteen or thirty days. You need to have a plan of accountability and information so you can close days in 28 days or LESS by getting everyone to take ownership of the outcome!
Questions or comments: Mike@IMTcoaching.com
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