This course is designed to give realtors a deeper understanding about mortgages and the mortgage process. Realtors typically have a much more direct and more personal connection with buyers/borrowers, who will often look to them first for guidance and clarity on financing questions. While there is no expectation that realtors will be able to answer all, or even most, mortgage-related questions, a firm grasp of financing concepts and considerations will help solidify the realtor-client relationship and ultimately lead to a better buyer experience.
In this course, you will:
- review a range of loan products including JUMBO, portfolio loans, and “niche” products to show potential clients the variety of options and encourage them to explore what may be available.
- review types of properties eligible for residential loans, especially those with unique characteristics or considerations. It can be difficult to secure financing for these “special” properties, the more due diligence that can be done up front could reduce client frustration.
- review the mortgage process, from pre-qualification to close to servicing, including milestones, timelines, and expected costs. In combination with their lender partner, realtors can help manage client expectations and ensure a smoother process and better client experience.
- define a list of useful financing-related questions realtors can use during initial conversations with potential clients, be they informal exchanges (e.g. the grocery check-out line, social media, etc.) or formal buyer consultations. The questions can give a realtor a better view into how serious a potential client is about financing a new home, help the client better understand the options available in the lending market, and increase realtor credibility.
THIS COURSE IS APPROVED FOR 3 CREDIT HOURS
BY THE DIRECTOR OF THE MAINE REAL ESTATE COMMISSION.
NOTE - this course offers 3 Continuing Credit Education Hours for Maine Real Estate Brokers, Associate Brokers, and Designated Brokers. Certificates are emailed within 3 business days of the course.