Mortgage Grapevine

Hey GO WORK OPEN HOMES but choose which ones carefully

People. Start doing open homes. Just got an idea---contact relitters who specialize in reo and short sales. You can call orifices and ask, or look through the MLS if you have some form of access. Most relitters for these listings only want FULLY qualified, no bullshiot buyers. If you can put together a plan to meet the borrowers, rapidly take their info and get them a fast, true approval than do it and take a display to the open home. I used to do a chalk board (cave man days) then a white board on a painters easel. It had a blurb on my rapid purchase programs, incentives, etc. I gave everyone a free appraisal coupon to get them to come back to me if they went away and found something else. This was OK with the open home relitter cuz I would get many people back for a prequal and then give them to the original r.e. broker. Most of the people had not found a home but most all had been asked if they were pre-qualified.


Dont fool with regular listings. People are out there buying bargains and will continue to as the f/c market becomes larger. Its a WASTELAND out ther, folks. Property values are going back to where they really should have been. Owning a home is going back to just being a dream for many until pricing is within Joe and Jane Averages base pay.
by Marvin Von Renchler March 28, 2009 5:20 PM

Remember to educate the folks about the first time home buyers tax rebate too Marv.

Here is a helpful link on that.

http://www.federalhousingtaxcredit.com/2009/faq.php#
by TennesseeTuxedo March 28, 2009 5:35 PM

99% of the open homes in my area take place on the weekends when we're off from work.

Where are you guys located?


by The Tower March 28, 2009 6:34 PM

That's funny Tower.


by TennesseeTuxedo March 28, 2009 6:48 PM

I think he was serious Tux.........

.....(shake my head, turn around and walk away in total disgust.......)
by deja vu March 28, 2009 7:47 PM

You mean there are LOs that work weekends?!

Why in the hell would...
by BigHappy March 28, 2009 10:11 PM

99% of the open homes in my area take place on the weekends when we're off from work.

Where are you guys located?

by The Tower March 28, 2009 6:34 PM

Most of us are located in the real world. Where are you located?
by Ski March 28, 2009 11:05 PM

Maybe he works at ACME Mortgage where you got a time clock on a tree with a whistle and everything.
by BigHappy March 28, 2009 11:12 PM

I think this poster has a good idea here. It's just that where I work, most of the open homes are on the weekends. Some RE agents hold open houses on weekdays in the Spring & Summer.

I work Monday-Friday 8-5PM and have a family & kids. It would be kind of hard telling them that i'm planning on working weekends going to open houses.

To me, that is the real world. Working weekends is NOT the real world. Just my opinion though.

Open houses are a good idea though.


by The Tower March 29, 2009 12:47 PM

Whoa. If you are making all you need, Tower, then by all means have your weekend time. Is your week of 9 to 5 in the mortgage biz or something else? If its something else then when did you plan to do ANY mortgage biz? An d if that the picture then why are you on a mortgage chat site?

Most of the mortgage industry people I know have ALWAYS worked evenings and weekends to some degree! Thats when buyers buy. Thats when realtors are out there plugging.

Im happy for you (and Im not being sarcastic) that you can have your weekends. I am trying not to lose my families house and will work 24-7.


by JustplainMarvin March 29, 2009 2:25 PM

Tower,
like jpm said, good for you if you are able to do M-F 8-5 day in day out. I find that I have to be available all the time for clients and referral agents or risk not writing any loans. A full weekend with no phone calls or office time is always preferred but usually a rarity. I hit up the open houses usually 2 Saturdays out of the month and have brought my wife sometimes if she already knows the agent or the agent's wife, etc.
Good luck to all.
by jimmymac079 March 30, 2009 2:59 AM

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