If you think of what you do as a Real Estate Agent, you market yourself to get leads of prospective buyers and sellers. Then you qualify these people to see if they are worthy of your time. The majority, as in any sales scenario, don’t lead to a sale. But what if you could take a portion of these leads, your credit-challenged buyer leads, and use a tool to build your pipeline? Real Estate Agents, I’m going to share with you how to add credit repair to sell more homes.
You may or may not refer these credit-challenged buyers leads, the people that can’t qualify due to credit score, to a credit repair company now. If you do not, you may not think credit repair really works. Or, you may have had a bad experience with a credit repair company. If you do, that’s great. But are you kept aware of the progress of these leads through the credit repair process? And how many of these leads do you actually get back as a qualified buyer?
What I just shared represents some of the challenges in using credit repair as a tool to increase the number of closed escrows each year. Now I’m going to overcome each of these challenges and show what thousands of real estate agents around the country are doing to explode their business.
Before We Go Into Detail
If you like what you read here or watch in the video about 'real estate agents how to add credit repair to sell more homes', you can refer your clients to us. But the bigger opportunity is for you to directly offer services to your credit-challenged buyer prospects to increase their credit score. The goal here is to give you an opportunity to offer services that will attract buyers to you. You can use these services in your marketing to get people to call you first. By doing so you will earn additional income and keep better control over these buyer prospects.
The true and honest answer is yes and no. Or, better put, sometimes. To understand why is to understand credit repair and credit repair law. Credit repair is strictly defined as the removal of derogatory items from a credit report using federal credit reporting law. If an account on a credit report is erroneous, it can easily be updated or possibly removed. If an account is obsolete, older than 7 years, it can easily be removed. However, a majority of derogatory accounts are not erroneous or obsolete. They really did happen within the last 7 years. In those cases, the only way they are removed is when the creditor does not respond back to the credit bureau when the account is disputed by the credit repair company on behalf of the consumer.
Why the Majority of Credit Repair Companies Don’t Get the Results Your Client Needs
Does this type of derogatory account (not erroneous, not obsolete) get removed? Yes, on a very regular basis. But not always. That is why some clients don’t get the results they need to qualify for a mortgage. If you as a real estate agent or your client do not understand what I described above, you are both going to be disappointed with the credit repair company. This next point is important. There are very few credit repair companies that do anything but try to remove negative accounts for your client. The results are hit and miss.
We Can Impact 100% of a Credit Score – What We Do Differently
Yes, we do credit repair and do it very well. But just like every other credit repair company we must work within federal law to attempt to get derogatory items removed. As mentioned above, sometimes it works, sometimes it doesn’t. But we go much further than credit repair.
When a derogatory item is removed it does increase a consumer’s credit score. But it only affects a portion of their credit score, Payment History. Payment history only impacts 35% of a credit score. If 1 or 2 items get removed, the credit score goes up. But perhaps not significant enough to get someone qualified. So, we work on the other 65% of a credit score as well. Namely, Amounts Owed (35%), Length of Credit History (15%), Credit Mix (10%), and New Credit (10%).
Services That Impact 100% of a Credit Score
We take a holistic approach to each client. We first look at them as individuals and their specific credit history. Then we assess how we can impact that client’s credit score the most. Credit repair, of course, is part of it. But we also look at the positive side of their credit report ledger. How can we increase the number of positive accounts they have? Perhaps we can add some new credit accounts with money they are already spending. Such as getting their rent payments for the last 24 months added to their Equifax, Experian, and Transunion credit reports. What if we can get them to pay down some of the amounts owed such as on their credit cards? Perhaps they don’t have credit cards. We get them one and teach them how to use it. And, much more.
Build Your Pipeline of Buyers and Earn Income
Yes, we would be pleased if you decide to simply refer your clients to us. We will take good care of them and keep you aware of their progress. However, for just referring your clients there is no compensation to you other than helping more of your clients get in a position to buy a home from you.
However, you can become an Independent Advisor yourself. You can offer these services directly to your client. When you do so you earn $75 upfront and $10 per month for as long as your client is on service with us. It’s not a huge amount of income but you do very little work to earn it. In addition to the income, the advantages to being an Independent Advisor are that you can use these services to market yourself as a real estate agent that helps credit-challenged buyers. You will be very aware of their progress and you’ll be building your pipeline of qualified buyers.
Watch This Video to Learn More
What’s Your Part?
Real estate agents, how to add credit repair to sell more homes is not difficult at all. When you hear back from your mortgage person or otherwise learn that a buyer prospect doesn’t have a qualifying credit score, you need to talk with them. You explain our services to them and enroll them through your Independent Agent website. That’s it. From there, our AI technology platform does all the work. Your client will see their credit reports and credit scores immediately. They can start the credit repair process and get rent payments and utility bills reported to the credit bureaus. You just stay in touch with your client from time to time and check on their progress.
What Does It Cost for You to Become an Independent Agent?
While there is no cost for you to simply refer your credit-challenged clients to us, there is a cost to become an Independent Agent and earn income. You pay a one-time fee of $99 plus tax and shipping for a business kit. Then just $9/month.
Do You Have Support?
Absolutely. First off, you would be working directly with my wife and me. We have been in the credit repair business since 2012, won multiple awards, and basically know this business very well. We are here to support and guide you and will help you with your first few clients by talking with them while you listen to the conversation. After that, you will no longer need us because this is fairly simple.
However, if you want to really grow this startup credit repair business beyond just your own credit-challenged clients, we provide extensive support and credit repair business training on how to do that. I know this will sound too hard to believe, but it is very true that we are working with an eXp real estate agent that has grown this business to over $10 million per year in addition to his real estate business. Yes, that’s how big the market is. No lie, no joke, no exaggeration. And, you would have direct access to him as well.
What Do You have to Do to Learn More?
You’ll need to give us about an hour of your time. Yes, we know you’re busy. But if you want to close more escrows and earn more income it’s well worth it.
Step 1 – Click Credit Repair Business Opportunity and watch our business overview video to learn specifics. Don’t go into this without knowing what you should know.
Step 2 – Under the video click the icon to Book a Phone Appointment with us. Let’s spend some time getting to know each other. We want to make sure that you know this is a real opportunity with real people behind it. And we want you to get all your questions answered. By the way, we don’t sell you on this. We provide information so you can make your best decision.
Step 3 – If you like everything about how to add credit repair to sell more homes and decide to get started, we walk you through online enrollment. And, then involve you in our private Facebook Group so you can stay up to date on what’s going on and anything new. We provide you with a couple of videos and a script for the phone calls with your clients, so you know what you’re talking about.
One more thought. Please take the time to watch our video completely before you book an appointment with us. Yes, it requires some focus and attention for about 20 minutes. But our time is valuable too. We want to spend time with you talking about the opportunity to grow your real estate business using our services, not on details of our opportunity that are contained in the video. That statement will make perfect sense to you once you do watch the video.
This article which was originally posted in 2021 is updated regularly and was last updated in July 2023.
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