Are you ready for July? As we enjoy the celebration of our independence, we also must prepare a strong message for our people to keep them energized and excited about buying that next home! The message of the month for July is all about the change in the DTI limits. For some of you this might not seem like much, but the move from 45% to 50% DTI can be a really big factor for some people, and needs to be shared with ALL your people.
Prepare yourself, your clients, and your referral partners for the rise in the DTI Limit! How much more purchasing power does 5% more income mean in your market? Let’s do the math! What is the monthly income boost?
- $6,000 monthly in income = $300 more, or $60K
- $7,500 = $375 more, or about $75K
- $10,000 = $500 more, or about $100K more purchasing power!
Now obviously you have to work the real numbers with real rates and taxes in your area, but you can see where this is going. It also isn’t on all programs and for some of you, this may not be as big a part of your market as it is for others, but you need to share the information!
Have you or your referral partners had someone who couldn’t find a house they loved in the price range they were looking? Time to give them a call and share with them all the properties that now make it to their list! The summer is the perfect time to make your business: SIZZLE!
Using this powerful strategy to craft an effective message can make all the difference in your business! You need to reach out to everyone you may have talked to in the last 240 days that didn’t close with you. And I mean everyone! This is far too important to leave to someone else to share. You need to get working!
Make a short video explaining the change and email it to your database. Post it on Facebook®, LinkedIn®, put it on your YouTube® channel! Call all of your referral partners and get them engaged! Don’t miss your accountants, financial planners, and attorneys! Everyone needs to know about this change!
Use the tools on the website! Schedule your Summer Success Strategies! You can’t afford not to keep the momentum going! Watch for new changes in the website! The all new Coaches Playbook® tutorials are arriving soon! Have a happy, healthy, and SAFE holiday celebration!
Questions and comments: Mike@IMTcoaching.com
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