On TILA Changes: Exhibit Expertise in Your Marketing NOW

on-tila-changesOn August 1st the closing process will change forever. The CFPB and other myriad of government entities have put in place changes that will make a home buy and sell a lot more complicated. A home buyer using a mortgage will no longer have the luxury of time, sellers will have to scrutinize paperwork and processes closely – all things no third party or technology will help with. Now is the time to grill your mortgage and title providers on their preparedness. Now is the time to use your knowledge in your marketing. Now, more than ever, is the time to exhibit your expertise.

Enhance your website with the NEW Steps to buy and sell a home.
Use these changes in your marketing now to exhibit expertise in the buy/sell process. Prep your would-be buyers that time REALLY is of the essence and getting docs to mortgage and title providers is important and that last minute changes will hold up a closing. Prep your sellers on the same and add that “quick closings” in a multiple offer situation are no longer a positive to a deal. Don’t forget about potential cash buyers who will have a certain advantage in negotiations in a home-buy with no mortgage company to deal with.

Use video.
Interview your mortgage and title peeps on video, and grill them on the steps they’ve taken to prepare their employees on the forthcoming changes. You’ll build consumer trust while doing all this. Link your website to your youtube page and double up on your enhanced web presence.

Deploy your brain.
Broadcast your videos at your next open house with Chromecast or a hi-def wire plugged into the back of your client’s flat panel TV. Follow up with them after the fact with bombbomb.com or Mailchimp – and don’t forget those future buyers and sellers you have sitting in your CRM!

Whether you’re going to sell one home this year, or 100, these changes will affect you and your clients now and into the future. Think beyond portals, technology, and BS marketing garbage and help arm your clients of today and tomorrow with real knowledge to help them make better housing decisions and position yourself as a true expert in real estate.

Nobu Hata

Nobu Hata is the Director of Member Engagement for the National Association of REALTORS®. A former top producing REALTOR®, Nobu specializes in helping members, brokers and Association execs integrate new school techniques into their practice to reduce friction for members, buyers and sellers; increase productivity; and earn trust and business in a crazy real estate world.

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