Branko Kovacevic
Mortgage Broker
Office:
Phone:
Email:
Address:
102-1289 91st SW, Edmonton, Alberta
BLOG / NEWS Updates
Prices have come down from their peak in July
From the National Bank of Canada
Declining transactions in the resale market and rising interest rates continue to weigh on property prices, with the Teranet-National Bank Composite House Price Index falling 0.2% from June to July after seasonal adjustments. This is the first monthly decline since the one seen at the beginning of the pandemic in June 2020. Using the unsmoothed seasonally adjusted index, which is more sensitive to market fluctuations, the decline is even more pronounced, with property prices falling 1.4% from June to July. Moreover, price decreases continue to be widespread across the country. In fact, for all 32 markets where the seasonally adjusted unsmoothed index was available in July, 58% experienced a decline during the month, the same proportion as observed in June, but much higher than those recorded since the beginning of the year. You have to go back to May 2020, at the very beginning of the pandemic when uncertainty was at its peak, to find such a large proportion of markets down. While the Bank of Canada has indicated that it will continue to raise its policy rate and that transactions in the real estate market should continue to decline, we anticipate that the composite index should decrease by 10% by the end of 2023.
https://www.nbc.ca/content/dam/bnc/en/rates-and-analysis/economic-analysis/economic-news-teranet.pdf
Easy way for Realtors to increase closing ratio, save time and increase client satisfaction by following this 5 steps
An easy way for Realtors to increase closing ratio, save time and increase client satisfaction is by following these 5 steps.
Step 1. Find a mortgage broker who will work with your lead. You need a dedicated mortgage broker who works thoroughly with clients as you do. Check with the mortgage broker if he/she is: checking on buyers purchasing power, what techniques and tools are used to inform/educate clients, and whether does mortgage broker prepare clients (credit score, debt ratio, etc.).
With proper mortgage broker partnership. You will not just save Your time but also insure client experience.
Step 2. Pre-approve your leads. The closing ratio with the pre-approved buyer is significantly higher. Sellers are often willing to accept lower bids or to relax other conditions when the client is pre-approved. It shortens the closing time and increases client experience.
Step 3. Check if the mortgage broker follows You with consultancy and real-time market information.
Step 4. Check the mortgage brokers ability to close deals and results in challenging credits. You want a mortgage broker constantly working with clients to practice early document collection. Do not be shy to ask for strategies and practices used in working with clients.
Step 5. Referral partnership with Your mortgage broker.is a good way to increase Your business.
It is not easy to estimate a potential successful partnership with the mortgage broker on closing ratio, or an increase in business volume, it depends of course where You are right now, but according to my many years of experience, it can improve realtors business up to 20%.
Easy way for Realtors to increase closing ratio, save time and increase client satisfaction by following this 5 steps
An easy way for Realtors to increase closing ratio, save time and increase client satisfaction is by following these 5 steps.
Step 1. Find a mortgage broker who will work with your lead. You need a dedicated mortgage broker who works thoroughly with clients as you do. Check with the mortgage broker if he/she is: checking on buyers purchasing power, what techniques and tools are used to inform/educate clients, and whether does mortgage broker prepare clients (credit score, debt ratio, etc.).
With proper mortgage broker partnership. You will not just save Your time but also insure client experience.
Step 2. Pre-approve your leads. The closing ratio with the pre-approved buyer is significantly higher. Sellers are often willing to accept lower bids or to relax other conditions when the client is pre-approved. It shortens the closing time and increases client experience.
Step 3. Check if the mortgage broker follows You with consultancy and real-time market information.
Step 4. Check the mortgage brokers ability to close deals and results in challenging credits. You want a mortgage broker constantly working with clients to practice early document collection. Do not be shy to ask for strategies and practices used in working with clients.
Step 5. Referral partnership with Your mortgage broker.is a good way to increase Your business.
It is not easy to estimate a potential successful partnership with the mortgage broker on closing ratio, or an increase in business volume, it depends of course where You are right now, but according to my many years of experience, it can improve realtors business up to 20%.
