How many sales are you or your company losing because homeowners cannot qualify for financing the installation of your solar system due to credit score? Homeowners typically need a credit score of 640 or above to qualify. And in some cases significantly higher. If you’re experiencing many situations where homeowners can’t qualify due to credit score pay close attention. I’m going to share with you how to generate solar sales with credit repair.
I started my credit repair business in August of 2012. In October of that year, I went to a local street fair and stopped by a table that had been set up by a solar company. The young lady that was behind the table asked me, “have you ever thought about adding solar to your home?” I told her that I hadn’t. But I asked her, “How many times do you sell a solar system and the homeowner can’t qualify due to credit score?” She rolled her eyes and told me that it was an alarming amount. It was frustrating to her and the other salespeople. And, she told me that the turnover of salespeople was high because of it.
Solar Companies Lose Up to 50% of Sales Revenue
I got the manager of the company’s information from her and set an appointment to meet with him. He shared with me during that 1st meeting that (as of November) they had written contracts for about $100 million so far that year and over 50% of the homeowners didn’t qualify for financing. They had lost $50 million in sales that year because homeowners didn’t have the credit score to qualify.
I talked with him about how to generate solar sales with credit repair and we began working together. Each “turn down” they got was passed on to me. We enrolled several of these homeowners in our credit repair program and within a few months, I was passing some of these homeowners back to them as qualified prospects.
How Many Home Owners Will Come Back?
Will every homeowner reach the credit score required by going through our credit repair program? No, not everyone. It will depend on why their credit score is low, to begin with. Will every homeowner that increases their credit score come back to you and have you install solar on their home? No. They may change their mind or have other priorities by that time. It typically takes a minimum of 90 days and up to 6 months or longer in some cases.
But you will get some of them back. Wouldn’t it make sense to start building a pipeline of homeowners that potentially will come back to you as motivated and now qualified prospects? What if it added just 10% to your revenue each year? Depending on the number of sales you or your company does on an annual basis, it could mean millions of dollars in sales.
Partnering With Us to Increase Solar Sales with Credit Repair
Because we are able to do business in all 50 states we have helped solar companies all over the country. To learn more about what we do for credit-challenged consumers visit our Partner page. There you can watch a video about how we partner with professionals in real estate, the mortgage business, bankers, solar salespeople, and solar companies. You'll also see an icon where you can book a phone appointment with me, Dale Guiducci. We'll talk about your situation and formulate a game plan to generate more solar sales for you.
One Other Option to Consider
Some solar salespeople become Agents with our company. Instead of just referring the client to us they sell our services to that client and generate the income associated with the sale. As an example, one gentleman out of North Carolina started selling our credit repair service in 2016. Today he has a credit repair business that has generated over $300,000 in sales in a year. For details on our credit repair business visit our Business Opportunity page.
This article which was originally posted in 2019 is updated regularly and was last updated in July 2023.
Please note- ERA Credit Services is an Independent Advisor
and does not directly provide credit repair services or accept funds from clients for credit repair services.