Grow Time - August 2024

This month, the new requirements go into effect from the NAR commissions lawsuit settlement. Your Marketing & Business Development Team put together a five day series of social media posts that you can share across your channels, and email your clients to help educate the changes.

These changes present some unique opportunities for lenders across the country. Here are some ways you can WIN and stay ahead of the game with your borrowers:

1) Educate your borrower on the home buying process along with the benefits and value of having a buyer representation provides. This agreement means more than just locating a home, and your close referral partners will appreciate the assist.

2) Help your borrowers understand all their options they have to pay buyer's commissions, whether the seller is paying it or not. This could be one of the biggest roadblocks and hurdles and also the largest point of misunderstanding how these changes affect buyers.

3) Start targeting and attracting more listing agents. Loan Status Update campaigns have been updated to include listing agents in the loan process. We also have a follow up and referral campaign to any new agents you haven't worked with before after a deal closes. And don't forget we have heavily discounted Open House Kits available for agents to purchase at no cost to you! You can weave these conversations into your weekly calls to agents.

4) Be first to the consumer! We have a social post this month demonstrating why it's important that homebuyers get pre-qualified first so they have a number to shop with, and a pre-qualification letter to present to sellers which could help elevate their offer.

We also a social media campaign (see below) to explain the various changes for you to post beginning August 16th.

Lastly, we created a robust campaign for First Time Homebuyers (see below).

Continue to build your social media network (remember the Find Me On Facebook email last month?), and utilize the posts our team creates, or create your own! Our automated marketing within Total Expert is here to help you build a long-term engagement strategy to stay in front of them.

5) WATCH OUR WEBINAR! Dan Catinella, Chief Lending Officer with Total Expert, along with Joe Massey, and Jennifer Yeo, Principal Broker from Presidio Real Estate led a webinar outlining all the changes from the NAR Settlement. Together, we discussed the changes, the implications and impact, and how loan officers can stay ahead of the game, help their agents grow, and WIN. Click here to watch a recording!

1) Schedule all of your social media posts! Especially the NAR Settlement series, and the Consumer Debt Snapshot series! Click here to jump down to our social media calendar. All posts (except the one locked for Mastermind attendees) are loaded and live in Total Expert and ready for you to pre-schedule to your channels. Pro-Tip: Delete and redo your Facebook and Linked In integrations before you start scheduling. Why? This will ensure an updated connection between the platforms, and will get you in the habit considering Linked In needs to be refreshed every 2 months. This won't affect your currently scheduled posts.

2) Send the "NAR Settlement Updates" to any clients who are still in Lead Status in Total Expert
Instructions
- Find the "NAR Settlement Updates" email, click ACTIONS>SEND
- Then click on SELECT RECIPIENTS
- Click the blue filter button on the right of the page
- Scroll down to LOAN FILTERS, under Loan Status select LEAD (PROSPECT)
- Exit the filter screen
- Click the checkbox to the left of ACTIONS to select your filtered contacts
- You can either send immediately or schedule (we recommend sending this the week of June 8th)
- Contact Marketing if you need help

3) Email your high equity clients! Send the "Turn your home equity into an investment opportunity" email in Total Expert
Instructions (read carefully, this process is different)
- Click on the LEADS & CONTACTS tab and click CLIENTS
- At the top of the page, you will see a new tab: HIGH EQUITY CLIENTS. Click on this tab. This collects funded clients with 25% or less LTV
- Take a careful look at the clients who appear in this list. Then click the checkbox next to Name to select everyone in this list
- A new blue ACTIONS button will appear. Click that and select SEND EMAIL
- Search for the email by typing the title in the search bar
- Click ACTIONS and then click SEND
- You can either send immediately or schedule. The contacts have already been selected by following the steps above
- Contact Marketing if you need help

5) Have you been keeping up with flyer deliveries to your agents? This is a great way to visit brokerages you know, or even some you don't know! Agents NEED marketing support, especially loan education collateral. Don't sleep on this persistent strategy of ours. Stick to it!

Select the "Average American Moves 11 Times" flyer, download it from Total Expert, and print 100 copies. Divide them up into groups of 25 and visit four different real estate brokerages. OR divide them into two groups of 50 and visit two offices. If you know any agents in these offices and they are a co-marketing partner in Total Expert, then co-brand the flyers before downloading and printing them!

Get focused with Focused View!

Many of you have been asking for more call lists within Total Expert, especially with Customer Intelligence alerts. We've gotten rid of tasks and now replaced them with Focused View, where you can view contacts, and also track how you communicate with them, logging outcomes for leaving a voicemail, or even taking their application over the phone! A lot of your automated campaigns (journeys) feed contacts into your Focused View.

We'll be doing a LIVE training on Focused View on Wednesday, August 7th at 2pm MT.

Also during Marketing Mastermind, we will be doing one final training on Lead Capture Apps, and show you how to set up a Lead Capture App to pair with the social post scheduled for August 14th.

Starting in September, you will see recommendations to make and pair your own Lead Capture Apps with our suggested social media calendar.

Our team has created a new campaign designed to reach out to First Time Homebuyers. A series of six emails over the course of a month is designed to get these first timers to submit their application and get started with you. They will drop from the campaign after email #6, or if you start a loan record for them in Byte.

Click here for sample emails.

First Time Homebuyers can get onto this campaign in three ways 1) You create a contact and add them via grouping, 2) You create a First Time Homebuyer Lead Capture App and share it on social media, 3) You already have existing First Time Homebuyer contacts and you add them to a group.

The steps:
Adding a new First-Time homebuyer in Total Expert
- Click on LEADS & CONTACTS and then CONTACTS
- Click on CREATE CONTACT
- Input as much info as possible, at the very minimum we must have a full name and email address (only use the EMAIL field)
- In the CONTACT GROUPS section, select the First Time Homebuyer group. This will automatically kick off the email campaign!

Creating and sharing a Lead Capture App
- Click on LEAD CAPTURE APPS
- Click on the blue +Create button
- Select the First Time Homebuyer Layout
- Name the page
- Set up your lead source as you wish - you can either have a generic lead source or you can create one depending on how you use the Lead Capture App (ex: pairing it with social media posts)
- OPTIONAL: If you want to co-brand the Lead Capture App and the email campaign - be sure to select your agent in the SHARE WITH USERS section under the Create Source Screen. Don't forget to add your agent's name to the app as well.
- Any leads who fill out this form will be automatically added to the campaign!

You will receive a notification when a client enters this campaign. It will provide more information. All clients will be placed into a Focused View relating to this email campaign which you can use as a call list. BE SURE TO LOG OUTCOMES FOR EACH CLIENT YOU CALL!

As always, contact our team if you need help or training!

Last month we introduced a weekly business development strategy to make seven hours worth of calls to clients and agents each week.

Seven hours of weekly prospecting to grow your business! You got this! Stick to it!

If you are new to CCM or need a refresher, you will find sections below that detail each day's calling campaign. Time block your calendar accordingly: Monday = Two Hours | Tuesday = One Hour | Wednesday = One Hour | Thursday = One Hour | Friday = Two Hours.

Click the + next to each section to review.

Agent Relationship Strategies

Monday's are where you should plan to time block two hours to call approximately 40 agents. Whether it's your best referral partners, or someone you're trying to develop a relationship with, these calls will help you grow your business.

These strategies are proven and everyone has the time and capacity to follow this path! You can do this! Stick to it!

Sample Script:
Hey [Agent], it's [Your Name] from Castle & Cooke Mortgage. How was your weekend? Did you host any open houses?

I'm just calling to check in and see how everything is going with your buyers. Have they all been pre-qualified and set with their home loans? Do you have anybody you'd like me to chat with to help them get started? Are there any challenging buyers who are having trouble getting pre-qualified? Any buyers having trouble getting under contract?

Last questions - What can I do this week to help make your life a little easier? Do you have any open houses this weekend you need help with? Let me know if you need any flyers, websites, or loan scenarios. Or if you need help setting up, I'm happy to come early and put out signs, bring some water and snacks.

If there's anything else I can do, call me any time. I'll check back in with you next week.

Start setting up your calendars in Outlook to time-block two hours on Mondays for these calls starting next week!

Instructions for listing content
(Note: Agents MUST be set up in Total Expert first as a Co-Marketing Partner before you can co-brand any flyers or websites!
Step 1 - Create a Single Property Website
Instructions
- Go to WEB MARKETING > SINGLE PROPERTY SITES
- Click CREATE
- Enter the MLS in the SEARCH BY MLS field and click the magnifying glass
- Click on the home that pops up and wait for the page to refresh
- DON'T FORGET!!!! Click ADD next to your name under Lender Partners, and select your agent's name under Agent Partners.
- You can either leave the page as is and click ACTIONS>SAVE or click NEXT and play with the site layout, etc.
- Click ACTIONS>VISIT SITE to see the site live and to copy the URL
Step 2 - Create a Listing Flyer (or Open House flyer)
- Go to PRINT MARKETING>CREATE NEW
- Under the FOLDERS drop down select LISTING FLYERS
- Pick a flyer and click ACTIONS>SELECT
- Select your agent under CO MARKETING PROFILE
- Enter the MLS# and click the magnifying glass
- Click SELECT under the home
- Click CUSTOMIZE AND PUBLISH
- If it is an Open House flyer, be sure to enter the date and time in the appropriate field
- You may need to edit the home description so it can all fit
- Click SAVE FIRST DRAFT, then PUBLISH
- Click ACTIONS and GENERATE PDF
- You can either save the PDF to your desktop or copy the URL to the PDF
Step 3
- Now, open an email in Outlook, and send the link to the Single Property Site, the link to the PDF (or attach the file) to your agent!
- Don't forget to offer your agent the ability to purchase Open House Kits at EXCLUSIVE wholesale pricing (requires 7-10 days advance notice)
Loan Status Update Calls

Ask any successful loan officer, and they'll tell you about Loan Status Update Tuesdays. This is a strategy our team has been sharing since the very beginning and when done properly, can ultimately save you time!

Each Tuesday, time block an hour to contact the borrower (it's ok if you just call the primary), buyer's agent, and seller's agent with an update on the home loan. It doesn't matter if there isn't any change to the loan's status from the previous week. The goal here is to provide weekly updates to calm nerves and anxiety through the process.

Sample Script:
Hey [Buyer], it's [Your Name] from Castle & Cooke Mortgage. Just giving you a ring with your Tuesday update call. I wanted to let you know that your home loan [insert status or update here]. Everything appears to be in good shape. Let me know if you have any questions and I'll be glad to help. I'll check back in next week with more news.

Hey [Buyer's Agent], it's [Your Name] from Castle & Cooke Mortgage. Calling to update you on the [Buyer's Name} loan at [Subject Property Address]. I wanted to let you know that [insert status or update here], and everything looks like it's in good shape. Before I let you go, do you have any buyers you'd like me to speak with? Do you have any needs for open houses you or your brokerage may be hosting this weekend? I'll check back in next week with more news.

Hey [Seller's Agent], it's [Your Name] from Castle & Cooke Mortgage. Calling to update you on the [Buyer's Name} loan at [Subject Property Address]. I wanted to let you know that [insert status or update here], and everything looks like it's in good shape. Are you hosting any open houses this weekend? Do you need my help setting up or can I bring some waters and snacks? How's everything going with your other transactions? Any challenging situations I can help with? I'll check back in with you next week with more updates on the loan.

The key here is to decrease your incoming calls from agents who constantly call you to check in on your borrower's home loan. Stick to it!
Alphabet Calls

Each Wednesday, plan to time block one hour to call your funded clients going through the alphabet based by last name. (Week 1=A, Week 2=B, etc).

One letter a week for the next 26 weeks. When those six months are up, you start over! This allows you to give a personal call to your clients twice a year.

All it takes is time-blocking and sticking to the plan! You can do this!

Sample Script:
Hello [Client], it's [Your Name] from Castle & Cooke Mortgage. It's been a few months since we chatted last, so I just wanted to call and check in. I wanted to make sure you're getting your mortgage statements and that everything for your home loan is going smoothly.

Do you have any questions or run into any challenges lately?

Have you been reading your Homebot report you get each month?

We happen to have some new loan programs that can help people [pay down credit cards], [buy investment properties with their equity], [upgrade or downgrade], [get cash out for home improvements].

If you happen to know of any friends, family, or neighbors who might need help in that area, would you be so kind to pass them my contact info?

Thanks for being a great client - please call me any time if there's anything I can do to help.
Homebot Motivated Clients

Homebot does a great job in setting up your daily dashboard to show you clients who are motivated to sell (and also refi, but we are focusing on sellers for now).

For those of you who attended (or watched) our Homebot Best Practices on Day One of our Virtual Sales Rally, you may remember our rep, Bethany, showing us how to leverage and communicate with Motivated Sellers.

Each Monday you receive a report from Homebot showing your most active leads. When you click on VIEW ACTIVITY FEED it will bring you right to your Homebot Client Activity Feed.

Click on the MOTIVATED TO SELL filter and here are the folks you should call weekly.

Sample Script:
Hello [Client], it's [Your Name] from Castle & Cooke Mortgage. I just wanted to check in and see how you're liking your Homebot Digest? Do you have any questions about your home's value or some of the options you have? Based on your equity, you might have an opportunity to purchase a new home if you're thinking about a move. Should we set a time for your agent to do a CMA for a more accurate estimate? Have you been thinking about making a move, or using some of your equity? If you want, I can pull up your Homebot report and we can review your options together if you have time?

There is a reason they are called Motivated Sellers! They've explored their options in Homebot - get in front of them first to help them understand all the ways they can use their home equity. Stick to it!
Friday Pre-Qual Check Ins

Every Friday, time block two hours to call everyone AND their REALTOR in your pipeline who is pre-qualified but hasn't gone under contract.

Sample Script:
Hello [Client], it's [Your Name] from Castle & Cooke Mortgage. I just wanted to check in on your home search. How's everything going? Have you taken a look at your Homebot Buyer Report lately? Do we need to adjust your price point? Are there any contingencies we should re-think like appraisal or inspection? Anything else I can do or help with your home search?

Hello [Agent], it's [Your Name] from Castle & Cooke Mortgage. I just got off the phone with [Pre-Qualified Client], and he let me know they're still shopping for a new home. I wanted to ask if you thought maybe we need to revise their price range or change any of their contingencies? (If any changes are needed, let them know you'll send a revised pre-qualification letter). Are you working with anyone else this weekend I should chat with?

If you want to avoid people calling you in a panic over the weekend, this is a great way to cut down those calls. Stick to it!

Caption:
At the end of last year, total household debt stood at $17.5 trillion. Of that, student loan debt made up $1.6 trillion of that figure. As of that calculation, we saw delinquency rates increase for all debt products except student loans. But that could quickly change with recent legal challenges to the SAVE Repayment Plan which could result in student loan repayments increasing. If you own a home and are wondering if you can use your home's potential equity to pay off your student loans, contact me today to review your options as well as your FREE home equity digest.

Total Expert Tags: Market Conditions, Home Equity, Grow Time August 2024

Caption:
Between Q3 and Q4 of 2023, credit card debt climbed by $50 billion to $1.13 trillion! The past five years have seen household consumer debt increase, and with that, so have delinquency rates. With more and more Americans falling behind on their credit card bills, you might be worried about keeping up with yours. Don't wait! Review your cash out options with me today and see if we can use your home's potential equity to help get rid of or lower your credit card debt.

Total Expert Tags: Market Conditions, Home Equity, Grow Time August 2024

Caption:
Between Q3 and Q4 of 2023, credit card debt climbed by $50 billion to $1.13 trillion! The past five years have seen household consumer debt increase, and with that, so have delinquency rates. With more and more Americans falling behind on their credit card bills, you might be worried about keeping up with yours. Don't wait! Review your cash out options with me today and see if we can use your home's potential equity to help get rid of or lower your credit card debt.

Total Expert Tags: Market Conditions, Home Equity, Grow Time August 2024

Caption:
In Q1 of 2024, homeowners across the country had nearly $17 trillion in home equity. $11 trillion of that can be tapped by homeowners and still maintain 80% LTV. Whether you want to do a cash-out refinance or a HELOC, there are lots of options and even more potential with what you can do with your home equity. Even if you’re among the two-thirds of homeowners with a rate below 4%, you owe it to yourself to see if you're sitting on a hidden savings account. Contact me today to learn more and to get your FREE home equity digest.

Total Expert Tags: Education, Refinance, Home Equity, Grow Time August 2024

Caption:
You routinely check your credit card statements, so why ignore your mortgage statements? They offer valuable insights beyond your monthly payment, including a detailed breakdown of principal, interest, escrow (taxes & insurance), and fees like PMI or MIP. By staying on top of your mortgage statement, you'll gain a clear understanding of your current and future financial commitments. Curious about what your mortgage statement reveals? Contact me today!

Total Expert Tags: Education, Borrower, Grow Time August 2024

Caption:
Part of the new requirements from the NAR Settlement going into effect this month state that real estate agents must disclose in any listing agreements, buyer representation agreements (more on that tomorrow), and pre-closing disclosures that commissions are fully negotiable and not set or bound by law, allowing both buyers and sellers to set the terms of agent-paid commissions, including who pays and how much. Click here to read more: https://www.castlecookemortgage.com/nar-settlement

Total Expert Tags: Education, Purchase, Grow Time August 2024

Caption:
About 10,000 Baby Boomers become eligible every day for a reverse mortgage. As you get ready to enjoy retirement, consider a Home Equity Conversion Mortgage, also known as a HECM (and pronounced Heck-Um). This program allows borrowers to access the equity they've built in their home and can use it to pay off their mortgage balance, and then use the remaining amount as they wish. Best of all, you don't need to make any monthly mortgage payments (but you still have to pay any insurance, HOA fees, and property taxes). If you've reached your third act or it's just around the corner, contact me today.

Total Expert Tags: HECM, Retirement, Grow Time August 2024

Caption:
There's something magical about staying in a home during your vacation. Having a dishwasher, a communal space, and multiple bedrooms can be a game changer for many! As a homeowner, you could possibly use your home as a rental property when you're out of town. Alternatively, you can leverage your home's potential equity to invest in a rental property for short-term rentals. Either way, your path to more financial freedom could be around the corner! Give me a call today to discuss your next steps!

Total Expert Tags: Investor, Home Equity, Grow Time August 2024

Caption:
Contrary to popular belief, we think homeownership is underrated! Why, you may ask? Because being a homeowner has MANY benefits, including the opportunity for:

-Having more control over your monthly mortgage payment
-Building potential home equity
-Improving credit history & score by keeping up with on-time payments
-Taking advantage of property & mortgage interest tax deductions
-Being able to stay in the same area for as long as you'd like

These benefits could be yours through homeownership; contact me today to learn more!

Total Expert Tags: Buy vs Rent, First Time Home Buyer, Grow Time August 2024

Caption:
We know we said we wouldn't speculate too much on rates, because who really knows where things will end up, but recent increases in housing inventory suggest that the market is in a good position for lower mortgage rates. Back in March 2022, we saw only 240,000 active single family homes listed, and this month inventory stands at more than 650,000 homes for sale. Pending home sales are also growing, with a 3.2% increase from last year. Could rising inventory help with prices and rates? Only time will tell, but you don't need to wait to get pre-qualified so you can act fast when you're ready! Contact me today!

Total Expert Tags: Interest Rates, Market Conditions, Grow Time August 2024

Caption:
A rate & term refinance could be worth your while, even in today's market. Here are three potential scenarios that could be beneficial to your wallet:

-Reducing Your Interest Rate—Reducing your interest rate by at least 1% will likely help you save on your monthly mortgage payment.
-Shortening Your Loan Term—If you have the funds to reduce your loan term, you could potentially save thousands of dollars in interest and qualify for a better interest rate.
-Removing Private Mortgage Insurance or Mortgage Insurance Premium - This move alone could save you hundreds on your monthly mortgage payment.

If saving money is your thing, I’m here to help! Contact me today to learn more about your home financing options.

Total Expert Tags: Mortgage, Interest Rate, Grow Time August 2024

Caption:
While rates increased slightly this week, they remain more than half a percent lower than the same time last year. In 2023, the 30-year fixed-rate mortgage nearly hit 8 percent, slamming the brakes on the housing market. Now, the 30-year fixed-rate hovers around 6.5 percent and will likely trend down in the coming months as inflation continues to slow. Lower rates are good news for potential buyers and sellers alike.

Total Expert Tags: Freddie Mac Weekly Rate Update, Grow Time August 2024

Caption:
Mortgage rates plunged this week to their lowest level in over a year following the likely overreaction to a less than favorable employment report and financial market turbulence for an economy that remains on solid footing. The decline in mortgage rates does increase prospective homebuyers’ purchasing power and should begin to pique their interest in making a move. Additionally, this drop in rates is already providing some existing homeowners the opportunity to refinance, with the refinance share of market mortgage applications reaching nearly 42 percent, the highest since March 2022.

Total Expert Tags: Freddie Mac Weekly Rate Update, Grow Time August 2024

Caption:
Mortgage rates declined to their lowest level since early February. Expectations of a Fed rate cut coupled with signs of cooling inflation bode well for the market, but apprehension in consumer confidence may prevent an immediate uptick as affordability challenges remain top of mind. Despite this, a recent moderation in home price growth and increases in housing inventory are a welcoming sign for potential homebuyers.

Total Expert Tags: Freddie Mac Weekly Rate Update, Grow Time August 2024

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