Full Name. Email Address. Phone Number. Recent Posts. ActiveRain Community over 10 years ago. Once a contract is agreed to and signed, the real work begins. In busy markets appraisal, home inspection and mortgage companies can be significantly backed up. Traditional mortgage underwriting can then take a couple weeks, or even as much as 60 to 90 days when lenders are really slammed. Real estate closing costs are most frequently the biggest concern of a home buyer, but sellers can have costs too.
This can include a variety of miscellaneous borrowing costs such as loan application fees, inspections and appraisals, points, credit reports, and more.
According to BankRate. Sellers will also normally have various expenses which are subtracted from their home sale proceeds. This can include title company or attorney settlement fees, taxes, prorated association dues and rent credits. With inbound sales, you're giving value before you ever ask for anything in return; establishing expertise and building awareness of your brand and product. Unlike traditional sales, transparency actually complements the inbound approach to sales.
With inbound sales, you're sharing all of your knowledge with prospects to help them make educated decisions, earn their trust and respect, and ultimately, their business.
A lot of businesses are uncomfortable with this strategy as it "gives away your secrets," but this is a misconception. Take a look at our agency for example. Truthfully, a potential client could subscribe to our blog and learn everything they need to know about inbound marketing and simply do it themselves, but our clients don't hire us because they don't know how to do inbound marketing.
They hire us because they don't have the time or resources. They are paying for the convenience of not having to hire and train an inbound marketing team and the assurance that the job will be done perfectly from the beginning.
We are happy to give away as much information as possible because this content gives our services more credibility. The more we help people for free, the more likely they will see the value in paying for our premium services. In today's market, transparency and information are in high demand and highly rewarded. Even if your brand is slow to adopt this approach, you will have competitors that aren't and that's where your persona will look instead.
With inbound sales, your reps always research leads before contacting them. The sales conversation revolves around your buyer persona and their specific situation. Not only is this the personable and thoughtful approach, but it just makes sense.
By identifying the problems that your lead is facing or the goals they want to achieve, you can position your brand as the solution in your sales conversation. Without knowing this information beforehand, or identifying it early in the conversation, you can't set your brand apart as the clear choice for them. Inbound sales isn't a numbers game, it's a situational game.
The goal is finding the right people in the right situations that are a perfect fit for your brand and focusing all of your energy on them. With this approach, leads are more welcoming to your sales pitch because the process is more genuine.
It's a win-win for everyone involved. Free Inbound Marketing Playbook. Free Guide: Take your inbound strategy to the next level Master the 7 principles of highly effective inbound marketing Dramatically improve your inbound sales Get more buy-in at your company. Read it now. For Sales Leaders and Sales Teams. Your company can't survive without sales -- but is your approach killing your profits? Which Method is Better for My Organization? Traditional Sales Traditional sales is very seller-centric.
Does it work? Cold Calling Most traditional sales people reach prospects by cold calling or sending cold emails. Furthermore, the foreclosure process can be expensive for the seller and lender and ultimately force them to file for bankruptcy in some cases.
Although the steps involved in a short sale are very similar to a traditional deal, the process is more complicated because of the lender's involvement. The typical home buying process merely requires the seller to transfer their equity to the buyer in exchange for the agreed-upon purchasing price.
However, in a short sale, the transaction is in the hands of the lender, so the process tends to be more time-consuming and convoluted. The following six steps illustrate the primary differences between a short sale and a traditional sale. As with any home purchase, the first step is getting approved.
It can be done online by filling out an application and providing us with permission to check your credit score, and sharing information regarding existing income and assets.
After you've shared documentation around income and assets, see your options. Instead of searching through all the listings available in your desired area, focus on preforeclosure property listings online. You can also search through public records by getting in touch with the local county court. Identifying and navigating a short sale can be tricky, but an experienced real estate agent can help you.
They can assist with and explain all aspects of the home buying process, including locating short sales. Before you make an offer , you want to gain all the information you can about the property. Real estate agents are an excellent resource for determining home value because they have access to the Multiple Listing Service MLS , which provides information on the prices of homes currently on the market and recently sold.
Before you purchase a short sale, you must make sure that you know of every person or entity that has a claim to the property these are called lienholders. So, you should also double-check that there are no other liens on the home. You can ask the seller, their agent or lender for this information. However, to be safe, you should also ask a title company to do a title search on the property.
When making an offer on the property, you must use your knowledge of local home values to consider what the lender will think of your offer. You might be looking at the short sale as a way to get a deal on the home, but keep in mind that the lender is still trying to recoup as much of the remaining mortgage balance as possible — and likely also has to meet investor guidelines to accept the offer.
Your offer should be close to the market value of the home if you want it to be accepted. If the seller asks you to pay money under the table for the opportunity to apply for a short sale, refuse and report it.
While the seller is required to disclose any known defects, sometimes this type of information falls through the cracks.
If repairs are needed, research the cost or get estimates, so you can find out if the home will make financial sense for you in the long run. Even after the lender has accepted the short sale, you need to ensure that the lender and any other lienholders are willing to release the collateral. The more lienholders there are, the longer this process can take. Short sales can be beneficial for all parties involved.
They provide greater investment opportunities for buyers, and minimize the financial repercussions that both lenders and sellers would face if the properties went into foreclosure.
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