What Realtors Need To Know Spring 2023

WHAT REALTORS NEED TO KNOW SPRING 2023

Spring has sprung, and we couldn’t be happier! Besides the weather, what’s most exciting for mortgage and real estate professionals? The uptick in home sales, of course. Let’s get you the tips you need to head into the busy business season with ease!

Follow these 5 tips to help you build your business all throughout spring.

Tip 1: Create & share short videos!

Get Reel (on Instagram)

Is it just us or does it seem like every time you get used to something on social media, there’s something else to learn? Since social media is here to stay (and growing more essential to business every day) we want you to feel educated and confident using it.

Let’s break down Instagram Reels so you can expand your following and provide value to your clients.

Instagram is the #1 social media platform

for businesses

Reels are shared through private message

1 BILLION times a day

The potential ad audience on Instagram Reels over 750 million users is

That’s 750 million reasons to get on your “A” game for Reels! Post anything that adds value for potential and current clients or industry partners!

When it comes to Instagram Reels, you want to educate people in a concise and easy-to-understand way. For example, if you’re talking about market availability, you won’t use real estate jargon or use stats that followers know nothing about. Instead, provide simple insights that can make buyers (or sellers) feel more confident, and show industry partners why they want to refer you.

How to create a reel

1. Concept: Decide what you’re going to talk about and gather any screenshots and text you’re going to use.

2. Record: Go to the Reels tab at the bottom of the screen on Instagram and record yourself. (Don’t stress, you don’t have to publish right away!)

Top things to note:

•You have about 8 seconds to capture the attention of your followers.

•Instagram has a timer option, so you can go hands-free and edit your video together after recording.

•To get the green screen for Reels, just click on the effects icon, select green screen, apply it, then go back to your creation page and add the image you want to be the background.

•Use the Instagram “help section” for Reels if you have questions (help.instagram.com).

3. Preview: Make sure you have everything the way you want it. This includes audio, graphics, text, the way you look, etc.

4. Share: Add a relevant caption before you publish. Give a quick synopsis of what you’re covering or say something to reel your follower in (no pun intended) and peak their interest. Then, hit share and watch the views roll in!

Tip 2: Pull topic ideas from frequently asked questions in Facebook groups, at Open Houses, or even from client text messages!

If you’re looking for ideas of what to post, think about what you would want to know as a buyer. You can also:

•Help people understand the current market

•Give ideas on staging their homes to sell

•Give buyers ideas on what to look for before making an offer

•Do a Q & A segment

•Debunk myths

•Share a day in the life of a Realtor

The options are endless, you just have to try new things and see what works for your particular audience! For optimal results, posting at least twice a day is great for Reels. However, if you’re just getting comfortable with this, aim for a few times a week!

Social Media Posts

It’s time for some social media posts that reflect this time of year. Remember, there’s no need to overthink your posts or captions. Just make sure they’re kind, easy-to-read, and they give your followers the opportunity to engage.

Tip 3: Download free templates at www.churchillmortgage.com/agent-resources/templates.

Passover - April 5-13

Caption: For all those who celebrate, may your Passover be one of family, remembrance, and great joy!

Easter - April 9

Caption: May your Easter be filled with fun, family, and delicious food! Hoppy Easter!

Mother’s Day - May 14

Caption: Mom. Mama. Mommy. Madre. Mere. Matka. Moeder. Okaaasan. We may all say mother differently, but our love, admiration, and gratitude remain the same. Happy Mother’s Day!

Star Wars Day - May 4

Caption: Happy Star Wars Day! Raise a glass of Alderaanian ale or Meiloorun juice today, in honor of those battling for good in a galaxy far, far away!

Who’s your favorite Star Wars character? Let me know it the comments!

Pop-bys for partners and clients

Tip 4: It’s always nice to let people know you’re thinking of them!

Spring - March 20 - May 20

Give your referral partners a beautiful spring flower with a note that says, “I’m so glad working together has helped our businesses bloom!”

Easter - April 9

Why not drop off a basket of chocolate bunnies and candy-filled eggs to your recently closed clients’ new homes with a card saying, “Happy Easter every bunny! Working with you is EGGcellent!”

Cinco de Mayo - May 5

Want to make a fun day even better? Pop by and visit your past clients with some tortilla chips, homemade salsa/guac, and a card that says, “Did you know? You’re nacho average client. You really guac my world!”

Investing in Real Estate

Do you have clients looking at investing in real estate? Expanding a real estate portfolio can be a great way to build lasting wealth, if done in a smart way. After all, investment properties can provide passive income, tax advantages, and profit through appreciation.

If your buyers know their budget, have a plan, and educate themselves while working with a team they trust, they can see great success in investing.

Tip 5: Be a resource for those look to invest!

When educating your clients, make sure you’re discussing:

•Rules and regulations around owning multiple properties.

•A plan: Will the property be rented out? Is it a vacation property? A second home for retirement? This can help you figure out what is needed and how to best achieve their goals.

•Risks associated with investing. You may want to advise clients to speak with other investors before buying. If you have a past client who owns multiple properties, perhaps you can set up a meeting for all of you.

You’ll also want to be aware of the different loan programs available and what’s required of buyers. Take the DSCR loan, for example.

DSCR stands for Debt Service Coverage Ratio. This type of loan allows your client to borrow for an investment property based on the expected monthly income that will be brought in from renting. This replaces the use of tax returns, proof of income, etc. for qualification. Here are some other details:

•Minimum credit score of 660 (depends on lender)

•Borrow up to $2 million

•Borrow for up to 10 properties

•Fixed and adjustable-rate options

To calculate the DSCR ratio, the net operating income is divided by the total debt service.

The net operating income is the income after all operating expenses are taken out. This does not include taxes, interest, etc. And the total debt service is the total of the monthly mortgage payment.

Why would someone want a DSCR loan? For real estate investors who have complicated incomes, a DSCR can be an easier route with a quicker approval time. It also allows an investor to get multiple loans for multiple properties at one time.

Fannie Mae and Freddie Mac have versions of DSCR, as well. Fannie requires 1.25 times the amount of net income to qualify, while Freddie Mac bases their requirements on the current market in the area the borrower is buying in.

With business picking up, please feel free to reach out to us! We’d love to help you take your business to the next level and look forward to working with you.

Keep an eye out for more content like this on our Agent Resources website!

www.churchillmortgage.com/agent-resources

888.562.6200

churchillmortgage.com

Source: https://blog.hootsuite.com/instagram-statistics/#Instagram_Reels_stats

Company NMLS ID # 1591 (www.nmlsconsumeraccess.org); AL-20934; AK-AK1591; AR-32094; AZ BK# 0926494; CA-4131256 & 60DBO-140687, Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act, under Churchill Mortgage Corporation, which will do business in California as Churchill Mortgage Home Loans; CO-Mortgage Company Registration, Churchill Mortgage Corporation, 1749 Mallory Lane, Suite 100, Brentwood, TN 37027, Tel 888-562-6200, Regulated by the Division of Real Estate; CT-ML-1591; DE-033845; DC-MLB1591; FL-MLD1264; GA-23146; ID-MBL-8038; IL-MB.6760685, Illinois

Residential Mortgage Licensee, Illinois Department of Financial and Professional Regulation (IDFPR), Division of Banking, Bureau of Residential Finance, 555 West Monroe Street, 5th Floor, Chicago, Illinois 60661, All Inquiries: 1-888-473-4858, TYY: 1-866-325-4949, Website: https://idfpr.illinois.gov, IN-10930 & 10931; IA-2009-0009; KS-MC.0025136, Kansas Licensed Mortgage Company; KY-MC19522; LA- Residential Mortgage Lending License; MA-Massachusetts Mortgage Lender License #ML1591; MD-18840; ME-Churchill Mortgage Corporation, Supervised Lender License NMLS # 1591; MI-FR0019728 & SR0014889; MO-19-2136, 2300 MAIN ST STE 900, Kansas City, MO 64108-2408; MN-MN-MO-1591, MN-MO-1591.1 & MN-MO-1591.2; MS–1591; MT-1591; NC-L-144110; ND-MB103110; NE-2037; NH-Licensed by the New Hampshire Banking Department 21382-MBS; NJ-Licensed Mortgage Banker by the NJ Banking and Insurance Department; NM-03780; NV-5187; OH-RM.850178.000; OK-MB002527, ML002574, ML014679; OR-ML-5134; PA-41761, Licensed by the PA Department of Banking and Securities under Churchill Mortgage Home Loans; RI20173440LL; SC-MLS-1591, MLS - 1591 OTN #1 & MLS - 1591 OTN #2; SD-ML.05137; TN-109305; TX-Mortgage Banker Branch Registration; UT-11711076; VA-MC-5222, Churchill Mortgage Corporation of TN; VT-7009 & LS-1591; WA-CL-1591; WV-ML-34919 & MB-1591; WI-1591BA & 1591BR; WY-2516; Tel 888-562-6200; 1749 Mallory Lane, Suite 100, Brentwood, TN 37027; All other states, Churchill Mortgage Corporation; For licensing information go to: www.nmlsconsumeraccess.org