As a realtor, getting your clients into their dream homes is your goal — but your clients have to be in the right position to land the home loans that they need. Enter: being qualified for their home loans! When you’re looking to help your clients get into homes they love, helping them to get prequalified — and then qualified — is extremely important.

However, there’s only so much you can do when it comes to helping your real estate clients get qualified for their home loans. Here’s our recommendation: essentially prequalify your clients to work with you, and then refer them to a trusted lender. Here’s what you need to know.

Do your due diligence with real estate prospects

Realtors know the feeling of finding a beautiful home that’s perfect for their clients, only to realize that their clients aren’t in a good enough financial position to even come close to making it work. There’s one way to fix this — and it’s to do your due diligence by effectively prequalifying your clients to work with you. Curious how? Ask these questions:

• What’s your current debt-to-income ratio?
• Do you currently rent or own? What’s your rent payment or mortgage payment?
• What’s your “why?” for moving homes?
• Is there any financial situation that I should be aware of before moving forward?

Next up: connect them with a trusted lender

Once you and your client have built a working relationship and are ready to move forward finding a dream home, refer them to a lender! A lender is the only expert around who fully knows and understands all of the details around the mortgage process, and they’re the ones who can effectively prequalify and qualify your client.

Your lender can lead your client into three main levels of approval:

Pre-qualification

In pre-qualification, the lender will obtain some high-level financial information about your client. Using the financial information from your client, the lender can make a surface-level (though not in stone) decision.

Pre-approval

In pre-approval, the lender uses an official mortgage application to document and verify financial information from your client, the borrow. This level of pre-approval tends to carry more weight — though it’s still conditional.

Pre-underwritten approval

Pre-underwritten approvals are the highest level of mortgage approval, and happen when the loan underwriter reviews the mortgage application and gives it a green light.

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As a realtor, there’s nothing more important than having a trusted network of vendors around you — which is where VRMREA comes in! Learn more about our vendor network here.

Marketing Tools for Real Estate Agents and Brokerages

As a realtor, you have one of the most fun jobs ever. After all, you get to help people buy and then live in their dream homes… and what’s better than that?! However, there are a lot of realtors out there, and a lot of them are really, really great at what they do. The key to standing out? Making sure that you have a really great marketing strategy that sets you apart and helps you build an audience who trusts you and believes in what you do.

Luckily, marketing has never been easier to do than it is now. Social media and the digital world makes advertising a lot more attainable… and a lot more effective. While advertising used to mean that you’d have to purchase billboard space or ads in the newspaper, you don’t necessarily need to do that anymore. 

Here are your top marketing tools as a realtor.

Create a website for your business

First things first? Create a website — like, yesterday. This doesn’t need to be a complicated thing, either. Just a simple landing page that gives prospective clients insight into your process, tells them a little more about you, showcases some current listings, and provides contact info is really all you need. We also love recommending that you publish consistent content (like blogs) to keep your website fresh and SEO-friendly. 

Take advantage of social media

Social media is really the most impactful marketing tool you have  — and it’s free! People turn to social media to do everything from connect with others to find services, and you have the really unique opportunity as a realtor to pop up right in that overlap. If you can build a social media presence that’s equal parts engaging and informative, you can connect with new people and show off your own excellence for those looking for realtors.

Be an email marketing superstar

Email marketing offers you so many opportunities for marketing your business and services, whether it’s the ability to connect with people on a more personal level or it’s the ability to segment your audience and really tailor down your marketing. You can start slow here (think: weekly or monthly newsletters that spotlight current listings) and slowly build your email marketing up to a more robust level. 

Set yourself apart with photos and videos

One of the best ways to market your own real estate business is to market your listings beautifully — and that’s why it’s so important to set yourself apart with really excellent photos and videos. Consider enlisting a professional photographer and styling team to photograph your listings, and also play with things like video and drone footage to showcase the homes you’re selling. (Psst… this is a great way to elevate your social media presence, too!)

Partner with community members

As a realtor, you’re usually selling homes and apartments in one particular area — so why wouldn’t you take every opportunity you have to further connect with that community? Nothing better. Whether it’s sponsoring schools or joining in on community events, just make it a focus for your real estate business to get involved. When you can do this, you’ll consistently pop up in people’s minds as a realtor who *actually* cares for the community they’re selling in, and that matters. A lot!

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We know that being a real estate agent means that you’re wearing a lot of hats, all the time — and that’s why building a network is so valuable. At VRM Real Estate Alliance, we’re here to give you every ounce of real estate expertise we have, courtesy of our network of partners and solutions. Find out more here. 

It’s no surprise to you that being able to stand out as a realtor is one of the biggest challenges in the real estate field. Most of the initial competition happens before you even meet a potential client. So, how do you set yourself apart immediately, before any face-to-face interaction happens? It’s all in the bio! A great realtor bio will grab attention and build connections with clients who will love to work with you.

Let’s look at 3 important things to include in your realtor bio that will make buyers and sellers excited to reach out and work with you.

1. Establish authority in your field.

We’ll start with the most obvious part of the bio – telling people why you’re good at what you do. You want to build trust quickly and prove that you are a real estate pro. Show that you are capable and confident, but don’t overdo this part. You don’t want to end up with bulky paragraphs talking about yourself and your accomplishments. 

Instead, get straight to the point, make it clear, and make it quick. Giving specific examples of achievements is a great way to show authority without going on and on about yourself.

2. Emphasize the value you offer clients.

Most realtors get too wrapped up in talking about themselves, but the part that’s really going to win people over comes from talking about your potential client. Once you establish authority, tell the reader why they should want to work with you. This is where it’s important for you to know who you want to work with, and what their specific needs are. 

Once you know who you’re speaking to, you can appeal directly to their needs by highlighting the benefits they will get from working with you. What value do you offer the client directly? Be specific and clear, as if you’re speaking directly to your ideal client.  

3. Show your personality.

Your bio tells people what it’s really like to work with you. What you say is important, but how you say it is just as important. Give people the feel of who you are, how you work, and what makes you different from others. 

Ask yourself how you want future clients to feel while working with you – or even better – ask what past clients have felt through the process of working with you. Getting feedback from past clients can help drive home what you should highlight for future clients.

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At VRM Real Estate Alliance, we offer tailor-made solutions rooted in industry expertise to help you stand out and appeal to the needs of each client. Find out more here.

When you think about the most important pieces of the puzzle as a realtor, you likely think of everything from your clients to your closings — and we get that. However, we’re big believers that there are actually few things as important as a great vendor network as a realtor. Whether you’re looking for a team you can trust to assist with loan procurement or you’re in need of home inspectors you can rely on, building a network of vendors is absolutely essential as a realtor.

See, being a realtor doesn’t just encourage vendor relationships… it requires them. If you have a strong network of vendor relationships, you can provide a stellar client experience and streamline your own workflow. Without a strong network of vendors at your side, doing so is a lot harder. As a realtor, you simply cannot do everything for your clients… but your vendors may be able to!

Why is a great vendor network important?

So much of selling and buying homes comes down to two things: the relationships you build with your vendors and clients, and the relationships that your clients build with you and your vendors. For many, a home is a massive purchase that invites years and years of involvement — and the more involved and open you can make the process, the better. As a realtor, the vendors you build relationships with can completely and totally transform the way your client experiences the homebuying journey and the way that you grow your own business, too. Vendor relationships go hand in hand with referrals — on both sides — and the right vendor relationships can be lifelong ones.

What vendors should be in your real estate network?

Curious what vendor relationships to focus on building? There are a ton, and we’d like to think of them as equally important. However, here are some of the top ones to consider:

• Lenders: Being able to refer to a great loan officer can be helpful to your clients, and a loan officer you have a strong relationship with can also refer clients to you.
• Handymen + construction: Have a home that may need some renovation love? Have a team of construction experts that you can turn to.
• Landscapers: Great landscaping can transform a home’s curb appeal — keep a great landscaper on speed dial!
• Plumbers: New homes can often go hand in hand with plumbing issues, and it’s always a good idea to have a plumber on hand that you can trust… and that your clients can refer to post-closing, as well.
• Appraisers: Need a home appraised? Don’t feel the need to click on the first Google result — instead, take the time to build a relationship with one you trust.

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At VRM Real Estate Alliance, we’re proud to have a strong network of vendors and business solutions that real estate professionals can trust. Complete with industry expertise and decades of experience, our vendors can help you to create tailor-made solutions for every client. Find out more here.

If you’re working to build an investment portfolio, it’s likely you’re familiar with a variety of types of insurance. From property coverage to liability coverage to everything in between, you want to make sure you and your property are both covered. However, it can be hard to decide what needs coverage and what doesn’t — after all, you didn’t start investing in real estate to get tied up in red tape right? Luckily, it doesn’t have to be as hard as you think. The biggest priority? To protect your investment.

Enter: real estate investor insurance. 

What is real estate investor insurance?

Real estate investor insurance — sometimes called “landlord’s insurance” — is insurance coverage that applies to rental properties. It helps investors, landlords, property managers, and more when it comes to investment properties, especially when those real estate investments have tenants.  There are different types of investor insurance for different types of investments, whether it’s an office building that needs a specific type of coverage or a vacant property that needs another.

Like with most types of property insurance coverage, there are several considerations to keep in mind, as there are typically different risks to the investor in various types of properties. Investor insurance can cover property, liability, or both, and would typically have options to cover the following:

• Property damage/dwelling coverage: This coverage can help to cover against property damage (think: falling trees, etc.) that interfere with your property, including fire, hail, wind damage, storm damage, etc.

• Landlord property coverage: This may provide coverage for things like loss of rent, burglary, or even needed building code repairs.
• Liability coverage: This coverage could cover your interests if someone is injured on your property.

Who needs investor insurance?

If you’re a real estate investor, you probably need investor insurance. Regardless of whether or not you’re sitting on a vacant property or have tenants renting out your property, your coverage is important. By investing in investor insurance coverage, you may be able to prevent or mitigate the risk that comes with being an investor — and that’s a big deal. Plus, like with most insurance coverage, you can work with a provider that helps you create the best coverage portfolio for you and your properties. The right insurance provider will help to build out custom coverage, which may give you confidence to trust that you’re just paying for what you need.

At VRM Real Estate Alliance, our unique medley of partners and vendors is at your fingertips. From lending advice to real estate valuation, our trusted partners know real estate — and are here to help. Find out more here.

Searching for the right valuation services provider is absolutely essential to having a positive experience in the real estate market space. When you think about it, the people and team you choose to value and service your property determines the process itself. 

At VRMREA, we pride ourselves on solutions that put you and your needs first — and, the way we see it, that’s what you need. If you’re wondering what to look for in a valuation services provider, we have you covered. Here’s what to keep an eye out for:

The right valuation services provider gives you tailored solutions.

If there’s one thing a good valuation services provider understands, it’s that one-size-fits-all is never the right choice. Real estate offers a truly unparalleled number of possibilities, depending on the day and the client — and that goes for valuation services, as well. Since valuation services play a big piece in the financial puzzle when it comes to investing in properties, it’s essential to work with a team that combines analysis alongside personalization for valuations that make perfect sense.

The right valuation services provider pays attention to detail.

Just like with most things in the real estate industry, detail is key — especially when it comes to compliance, regulations, and risk. When choosing a team for valuation services, look for a team rooted in experience and professionalism. From interviewing potential teams to mining customer reviews, do your research — it matters. Without a true attention to detail, your valuation services provider won’t be able to provide top-notch service… which is what you deserve. In addition, your valuation services team should be licensed across the country.

The right valuation services provider provides impeccable service.

Establishing trust and confidence is key to providing the best valuation possible — and that can’t exist without excellent customer service from the very outset of your work together. When looking for a valuation service provider that you can trust, there are a few (green) flags that point towards great service — like high-quality work, a faster turnaround time, and a lack of waste from beginning to end. By putting trust at the backbone of their valuation services, the right provider can ensure a great process for all involved.

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At VRMREA, our job is to provide tailor-made real estate solutions for every single client — and valuation services is a huge piece of that puzzle. If you’re searching for top-notch valuation services that can get the job done (and get it well), we’re here for you. Set up a call today.

When you’re a real estate investor — especially one with multiple assets — there’s a great chance you’re always thinking about one of two things. Those things?

1. Being proud of your real estate investments and excited about the earning potential within.

or…

2. Getting overwhelmed at the thought of managing your REO properties to keep the investment strong.

The best way to ensure that your investments are safe — along with your mindset — is to find the right partner to help manage your REO assets. However, you might be wondering how exactly to find the right one. We’re here to help.

Look for a partner who doesn’t focus on one-size-fits-all solutions.

When you start investing in real estate, you learn quickly that every property — and every situation — is different from the next, which is why it’s so important to look for an asset manager that understands that constant wheel. A great asset manager needs to be able to shift and mold as you grow, and it’s important to trust that the right solution can be met. Regardless of property size, tenant status, or landlord involvement, the right asset manager can handle it all.

Ensure that all of your management needs are met.

The most underrated piece of choosing the right manager for your REO assets lies in, well, what they manage. Different providers specialize in different areas, and it’s important to make sure that your chosen manager’s abilities reflect your needs. Here are some key areas of consideration when it comes to asset management:

• Ongoing maintenance and repairs, as needed
• Rental and lease agreement management
• Rehabilitation and renovation services
• Securitization services
• Property condition inspections
• Eviction lockouts

Find a provider that knows community matters.

So often, real estate and REO management gets a bad rap — and for good reason. When getting caught up in growth and numbers and property preservation, it’s easy to forget about the communities that businesses and people are buying and renting in… and people do forget. The best way to start to mitigate that is by working with an asset management company that understands the higher level to real estate work — and lives it.

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At VRM Real Estate Alliance, we’re here to provide real estate solutions for every home, every community, and every person. As a responsible, dedicated, and friendly team with roots in every aspect of real estate, we can provide an impeccable experience for you and for your REO management solution needs. Contact us today.

Today is March 18th, 2020, and the world has come to a standstill. As of today, there have been a confirmed number of over 200,000 infected with COVID-19 and over 8,000 deaths around the globe. As this global pandemic increases and spreads from human to human, it causes one thing amongst all of society; fear. As the world fears and panics, it shows in their actions. People are stockpiling and purchasing more things than usual. Walk into many stores in America and you will see empty shelves where water bottles, toilet paper, disinfecting sprays and hand sanitizers used to be. Faced with the reality of being stuck at home for weeks at a time, the public is ensuring their preparation. The new Coronavirus and the reality of staying in your home are beginning to go hand in hand. But Coronavirus has another relationship with homes, the virus may have a significant effect on the housing market. As toilet paper sales increase, real estate sales could decrease. Let’s take a look at some of the ways our housing market could be affected by COVID-19.

What Does COVID-19 Mean for the Housing Industry?

But first, it’s important to note that no one knows for sure what exactly will happen as a result of these recent events. We can only speculate based on the effects we have already seen from the virus and the historical precedence, especially during the 2008 market crisis and recession.

#1: Supply lines are being disrupted:

One concrete effect of the virus is on home building itself. Home building may be a little tougher now than usual. A large percentage of home building materials are manufactured and shipped from China. As China finally starts to rebound from their own COVID-19 pandemic, they are only now able to start bringing their manufacturing output back to their volume before the virus virtually shut the country down. But it will not happen overnight and because China is one of the largest global distributors, this affects the housing market and the rate homes are able to be built in a considerably serious manner. As less and less materials are being shipped to the United States, this results in a decrease in production of home building.

#2 Lower Mortgage Rates:

The stock market fell to an all-time low this week, signaling the start of another recession. To counteract the economic impact of this crash and support banks and businesses, The Federal Reserve has begun taking drastic measures. Sunday night, the Fed announced further cuts to the benchmark interest rates, bringing it to zero percent. Additionally, as investors sell off their stocks and buy bonds, bonds increase in value and demand. The higher the price of the bond, the lower interest rates start to get. So what does this all mean for the housing market? Basically, when all of this starts to occur, mortgage rates tend to get lower too. We will see lower interest rates, more mortgage lending and more people refinancing their mortgages to lock in the low interest rate. What does this mean long term? It’s hard to know for sure but most economists believe we can expect to see an initial rise and then an eventual decline in the housing market, especially as we head into another recession.

Commercial Real Estate Will Decelerate:

Due to the scare of the virus and the potential spread of it from person-to-person, it is likely that this will hit commercial real estate hard. Quarantines will keep people away from brick and mortar stores, small business will be forced to close their doors, and big companies will begin downsizing. Current projects and construction will be delayed due to shutdowns, employee and material shortages. Potential buyers also won’t be viewing commercial properties currently on the market, resulting in a decrease in property sales.

Bottom Line:

We all want to know what the coronavirus means for the housing market. Will we see a crash reminiscent of the 2008 mortgage crisis? Will we bounce back quickly? Are we headed for a recession or a great depression? As dramatic as these question can be, they are important to address so we can prepare for whatever the outcome may be. No one fully knows what the effect of all of this will be. Although the scare of the virus is resulting in significant changes to the housing market, the market itself has not yet been drastically affected by the virus. As we’ve seen, however, the situation changes every day and hour, so who knows what tomorrow holds. Right now, it’s important to remain calm and avoid jumping to any drastic measures before we have a more concrete hold on the situation. Although surroundings may seem difficult, considering that inventory is low and demand is high, you can still purchase a home. Each individual has a different situation and the best solution is to make decisions based on that. If you have the right amount of money, and the property is right for you, check out our properties page, you still have the power to make that purchase, regardless of what virus is in the air.

*We are not financial advisors and any decisions should be made by each individual themselves, based on their own economic situation. *