Category: Real Estate

<img class="blog_post_image" src="https://eracreditservices.com/wp-content/uploads/2019/06/How-to-Operate-a-Credit-Repair-Business-Blog-625x415.png" alt="How to Operate a
Credit Repair Business
Getting Referrals" />

How to Operate a
Credit Repair Business
Getting Referrals

In the last post and YouTube video about how to operate a credit repair business, I discussed the first phase of marketing. It’s where everyone should start and that is their warm market. You can read that post and watch the video at https://eracreditservices.com/2019/05/how-to-run-a-successful-credit-repair-business/

In this post we’re going to go into the 2nd marketing phase of how to operate a credit repair business. This phase is critically important as well because it will potentially bring you the most and best leads for credit repair customers.  There are several industries that rely on customers to have a minimum credit score in order to qualify for financing. Because many consumers don’t have this minimum credit score it creates a win-win-win that you should take advantage of.

Who Has a Problem That You Can Solve?

In 2012 when I started my credit repair business in San Diego, I was determined to learn how to operate a credit repair business quickly. I did a lot of research. One bit of info I wanted to find out was how many real estate agents there were in the county. I Googled it and found that there were 18,000 licensed real estate agents in San Diego County. 18,000!! So, I developed a plan of action to expose what I do to a lot of them in hopes that some of them would start referring people to me.

First, I had to determine if indeed they had a problem with prospects that couldn’t qualify for a mortgage loan. I quickly found out that almost every single one of them did. For some it happened occasionally. For others it happened many times a week. But I can’t recall more then a few that told me they never had an issue with prospective buyers that didn’t qualify.  This became the proverbial, “shooting of fish in a barrel”.

You Must Go Where They Are

It’s fairly easy to have conversations with real estate agents once you put yourself in a position to have the conversation. You need to get in the habit of asking people that you know, if they know someone in the real estate business. Tell them why you’re asking and that you can help their friend or acquaintance close more business because you help their prospects get a higher credit score. By the way, you just informed your friend of what you do in the event their credit score is hurting. That’s a potential bonus!

You also need to go where real estate agents and brokers are. I started to attend networking meetings. This is a topic I will cover in the next post in detail. In just about every business networking meeting group there is a real estate agent, a mortgage broker and a banker. All of which fit into the category of needing what I/you do.

Here are 3 organizations that I highly recommend. Don’t be intimidated because they are based on ethnicity. I am a white guy and can’t speak any language other than English. And, I felt very comfortable in all 3. In fact, my wife and I were invited and attended their Christmas parties.

NAREB- The National Association of Real Estate Brokers

NAHREP- The National Association of Hispanic Real Estate Professionals

AREAA- The Asian Real Estate Association of America

Visit their websites and see if they have a chapter in your community.

You’ll be the Most Popular Person in the Room

I also went to board of realtor’s meetings that would allow outsiders to visit. Many such organizations have a program for affiliates. Those that provide services that realtors need such as home inspection, mortgage loans, home staging, and yes, credit repair companies. That great thing about networking meetings and other type meetings where real agent agents go is that I almost never encountered another credit repair representative or company. I was the only one. And as I like to say, I was the most popular person in the room. Why? Because every single one of them had a problem only I could solve.

Here is a side note about attending meetings and meeting people that could be interested in what you do. And, I’ll cover this in detail in the next post about business networking. You’ve got to know your stuff, yes. But I found it best to simply determine if they had a problem with folks that don’t qualify, get their card, and call them at another time. I wasn’t there to get their referrals. I was there to meet them, get their info so I could contact them later, and spend this time meeting more people. That way I didn’t appear too anxious or “salesy”. And, I could simply concentrate on getting to know them, which is a key to getting people to like you.

Keep the Conversation About Them

When meeting people in real estate or any “credit-related” field here are some good tips. Keep the conversation about them and their business. Ask good questions about the market, interest rates, and more. You don’t have to be a real estate expert, but you should have the ability to hang in a conversation with someone in real estate. Then when you have developed a bit of rapport you want to get to the question that has made me a lot money. Come to know this question like the back of your hand and use it often.

The All Important Money Making Question

“Let me ask you (Agents first name). Does it happen that someone wants to buy a home, but you find out they don’t qualify due to their credit score? Does that ever happen”? You can ask this question in any way that’s comfortable for you. But your whole reason for meeting this real estate pro is to ask it.

Based on what I’ve already told you, you already know the answer to this question. The answer is “yes”. It happens once in a while. It happens every day. Or somewhere in between. But it happens. They just told you they are losing money. They are losing time, energy, and investment into their marketing efforts, which is money. And they have no solution usually.

What Makes You Different?

Referring people to a credit repair company may have crossed their mind but they haven’t run into one. Or, maybe they referred people to a credit repair company, but that company didn’t do a good job or keep them informed. This is where you must be on your game. What differentiates your company or you from anyone else in the industry? I wouldn’t get into it right at this meeting where you just met the real estate agent. Again, I would get their info and set up a time to call them, meet them for coffee, or meet them at their office (which is the best opportunity). But at some point, you need to impress them. What do you do that no one else does?

Our company has several of what I call “differentiators”. What makes us different? What makes us better than any other company? You should to be able to verbalize your differentiators quickly, and with confidence. And, they should be very impressive. Part of discovering how to operate a credit repair business is realizing that you don’t want to be a “me too” in the credit repair industry.

Teach People How to Give You a Referral

Let’s say you do your job and impress the real estate agent. And, they tell you they’ll refer people to you. Success, right? Not quite yet. You have more work to do. You must school them on how to give you a referral. And, you should explore other opportunities they can bring you. Let me explain both.

Typically, a real estate agent will ask you for business cards or brochures to give to their credit challenged customers. In their mind this is how they give you a referral. That is not a referral. That is a suggestion. A referral is when the real estate agent edifies you by telling their prospect about you and how she/he teams up with you in these situations to help people like them. Then they ask their credit challenged prospect if it would be ok to give you their information so you could call them. That’s a referral.

Leverage Your New Referral Source

But you’re still not done. Now that your relationship is solidified and you’ll be helping her/his prospects with sub-620 credit scores, it’s time to explore other possibilities. For example, do they work in an office that has other real estate agents in the same boat? Who would she/he suggest you talk to? Does her/his office allow vendors to come in and talk to the agents about what they do? Yes, well who should you speak to about getting on the calendar? Does she/he have a mortgage broker or two they work with? They always do. So, would it be ok with them if you reached out to their colleagues in the mortgage business? You could take this one contact and leverage it into many. Then continue leveraging with your new contacts until you have a steady stream of referral business coming to you. And here’s the best part. It’s all free except perhaps the cup of coffee you bought them.

In learning how to operate a credit repair business, networking with people in credit-related industries is a must. It typically brings you motivated client prospects that are emotionally invested in buying that something that they were just turned down for and couldn’t buy. And, they will typically have no problem paying your fee.

The Solar and Auto Industry

I already talked about real estate, mortgage and banking. But another industry is solar. The credit score needed to finance a solar installation is higher than the credit score needed to buy the home. Many people don’t qualify and it’s a huge amount of lost revenue for the solar company. My suggestion is that you seek out people in this industry. You won’t typically find them at a network meeting, however. So, you’ll have to ask people if they know someone in solar sales or management.

Many would say that the automobile industry is also a place to seek referrals. I disagree because people in the auto business are very often hard to talk to and very impatient to see results. They live from month to month. How many “units” can they sell this month. They don’t really care about the sales they can make in 4 months. But if you want to give it a try, go for it. I believe that with the number of people in the real estate and mortgage business out there, and the commission they make on a home sale, that’s the best place to focus your efforts.

For more information about how to run a successful credit repair business subscribe to our YouTube channel.

For information on our turnkey business model and credit repair business training visit Credit Repair Business Opportunity.

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How to Qualify for a Mortgage

As of the writing of this post the real estate market is as hot as it’s been since 2007. Many consumers are looking to purchase a home soon because they anticipate that prices will continue to go up. However, many that want to buy a home cannot qualify mainly due to credit score. The most important factor in learning about how to qualify for a mortgage is a credit score.

This issue not only affects the prospective buyer, but also the real estate or mortgage professional that is assisting them. Most people in these industries realize that the first thing they must do is ascertain if the prospect can qualify. In most cases, if they cannot, it’s due to a credit score issue or other issue involving their credit report.

Working with Real Estate & Mortgage Professionals

Many real estate and mortgage professionals have realized that spending their time to advise a person how to clean up their credit report is time consuming.  And, a lot of time it doesn’t lead to a closed escrow because their client doesn’t follow through on their own.

That’s where we come in. We do nothing but help consumers increase their credit score. And, we have several ways of doing it. Although credit repair is a great step, it is not the only step to be taken. By referring their credit challenged clients to us real estate and mortgage professionals can continue to work on their low hanging fruit, those buyers that can qualify right away. They don’t have to teach their prospect how to qualify for a mortgage.

We work with their credit challenged client and keep the real estate agent or mortgage broker informed of their clients progress. When we do get a client to that 640 score, or the score needed to qualify, we remove any remaining disputes to avoid any issue in underwriting.

We’ve been doing this since 2004, have an A+ BBB rating and are certified by the National Association of Credit Services Organizations (NACSO). We work in all 50 states and currently work with some of the biggest names in the real estate, mortgage and banking industries.

qualify for a mortgage

How to Qualify for a Mortgage

Do You Have Clients
with a Low Credit Score?

Real Estate Agents, Real Estate Brokers, Mortgage Brokers, Loan Officers, Bankers

Do you have clients with a low credit score? How much income do you lose when prospective clients don’t have the necessary credit score to qualify to do business with you. That number can be staggering. But what can you do? You can turn lemons into lemonade!

clients with a low credit score

Here are 4 options if your prospects have low credit scores.

Move on to the Next Prospect

The first option for clients with a low credit score is to do nothing and move on to the next prospective client. Hopefully these people will be able to increase their score on their own. Or will come back to you when the derogatory items pulling their score down drop off their credit files with Experian, Equifax and Transunion. But think of it. How many times has that happened?

Try to Help Them Yourself

The second option is to try and help prospects with low credit scores yourself. But do you have the time and expertise to do so? Are you familiar enough with the Fair Credit Reporting Act to derogatory items off their report? And, what kind of time will that take from your marketing to new credit worthy clients.

Refer the Client to Us

The third option for clients with a low credit score is to refer that client to us. We have been in this industry since 2004 and have successfully removed over 875,000 derogatory items from consumer credit reports. That includes over 100,000 public records (bankruptcy, foreclosure, tax lien). After over 200,000 clients we are backed by an A+ rating with the Better Business Bureau. And we have services beyond credit repair to help your prospects increase their score as quickly as possible. We provide the best opportunity to get derogatory items removed from their credit profile and increase their credit score. We also add you as a ‘Referral Source’ and give you access to monitor the progress of your clients deletions and credit status.

is to work directly with us. You can sell our service yourself, earn the income yourself, and stay that much more connected with your client. Many real estate, mortgage and banking professionals have closed more of their primary business as a result of offering our credit restoration service to their clients. And, they have earned a significant income from selling our services. Think of the other professionals in your industry that have credit challenged clients that you could contact.

Many people in your industry have turned this into an income that exceeds what they earn from real estate, mortgage or banking. In addition to selling the services to their clients they have developed a team of other Independent Agents. These might be people in their area or around the country. They can earn a substantial income from the production of those Agents.

A Few of Our Successful Agents

Mike Watsonformer top producing Keller Williams Agent in Eastlake, CA. Mike is now an Executive Sales Director with us and  has over 100 Independent Agents around the United States.

Miranda Harrisreal estate broker in Columbia, SC. Miranda has become one of the top producing Agents with our company and earned the title of Vice President. She is also a member of our Six Figure Club. Our average Vice President earns over $24,000 per month.

Derrick Smithformer owner of 2 ReMax brokerage offices in Maryland. Derrick is now a Regional Vice President. He is also a member of our 6 Figure Club.

Cynthia Davisformer branch manager for CitiBank in Las Vegas. Cynthia has become a Regional Sales Director and has left the 9 to 5 banking world to develop her own business with FES.

Clients with a Low Credit Score

These are just a few of the people who first came to us because they had clients with a low credit score. You don’t have to change careers and strive for the type of income these people earn. You can simply work with us on a part time basis. Simply help your clients to increase their credit score and close more real estate, mortgage and banking business.

If you simply want to refer your clients prospects with a low credit score to us, or you want to develop a second income stream…watch this video.

To talk with me, Dale Guiducci, click below to ‘Book a Phone Appointment’

Credit Repair May Be Needed by Many Boomerang Home Buyers

According to a January 26, 2015 article published on RealtyTrac.com, more than 7 million people will fall into the category of Boomerang buyers and enter the housing market over the next 8 years. People that lost their homes prior to 2007-2008 are now in a position to start looking to be a home owner once again. Part of the reason is that they are now past the 7 year period where a foreclosure or short sale (or any derogatory item) should show up on their credit report but still may be in need of credit repair. Credit bureaus do not always remove these items in a timely manner. And, over the next few years more people will be past that 7 year period and will once again, have the opportunity to buy a home.

The article also shared that these consumers still may have other derogatory items on their reports and may need to utilize credit repair in order to raise their credit score to the level required by mortgage lenders. Individuals can attempt to do it themselves by contacting the credit bureaus directly. However, it is time consuming and requires knowledge of the law. An alternative is to hire a professional, reputable credit restoration company.

Las Vegas, Northern & Southern California, Florida and Detroit, MI are markets that are likely to see the most activity.

Credit repair for Boomerang Home Buyers Infographic

What consumers must realize is that time is required to go through the credit repair process.

It can take anywhere from 60 days to several months to effectively clear a credit report of derogatory items. We have offices in Clearwater, FL and San Diego, CA to help people repair their credit.  And, we work with independent Agents around the country that can assist consumers in any U.S. market.

For San Diego credit repair call 619-492-3040. For Tampa, St. Pete, Clearwater credit repair call 727-222-0120.

We offer a free, no obligation consultation. Together we will determine whether credit restoration can help you by discussing your individual situation. We will then give you details on the process and time frame.

Get ready for the opportunity to be a home owner once again by taking action now to restore your credit and your overall financial health.

Visit https://eracreditservices.com/credit-repair/

Credit Worthy Clients
Florida Real Estate, Mortgage,
Automobile, Banking & Solar Professionals

Do you need credit worthy clients? How often do you spend time with a prospective client, after having spent advertising dollars to get that prospect, only to find out they don’t have a high enough credit score to qualify to do business with you?

What do you then do with that prospect? You can spend further time trying to guide and help them which, in most cases is not productive. Or, you can partner with ERA Credit Services and allow us to work with that client to increase their credit score while you focus on your main business.

There are fewer credit worthy clients in Florida

Florida consumers have a lower credit score on average than those in the other 50 states. According to Experian in a 2014 study, the average VantageScore credit score in Florida is approximately 656 while the U.S. average is 669. In 2013 the Sun Sentinel reported that credit scores in Miami-Dade and Broward Counties had dropped to a 646 after it had been a 658 in 2012. Compare that to states where the average score is well over 700.

Here’s the Average VantageScore in Major Florida Cities (Experian- 2014) credit worthy clients infogrpahic

Tallahassee- 643
Jacksonville- 647
Miami- 649
Orlando- 656
West Palm Beach- 665
Tampa- 659
Fort Meyers- 673

What if you could spend very little time and effort, yet build your pipeline of credit worthy clients and qualified buyers? By working with us you can. We would be happy to discuss how our credit restoration service works and how you can monitor the progress of your client’s service online. Let us do the work while you build your business. Then we’ll pass that client back when they are ready to close a deal with you.

Better yet, what if you could become an Independent Agent and earn income associated with helping your clients? Our staff does all the credit repair work, analyzing credit reports, working directly with the client and the credit bureaus. After explaining our service your job is to input the client’s information into our online system. And, you get paid the next week! This could lead to some great part-time income or even to a whole new career.

Either way we would like to speak with you and see how we can increase your bottom line. What if we could help you close just a few more sales per year? What if you could now separate yourself from your competition by having a partner that can help prospective clients when no one else can?

Give us a call at (727) 222-0120 or to read more visit Clients with a Low Credit Score

Do You Need Qualified Clients to Close More Business?

Are you in a profession or industry such as real estate, mortgage, auto, banking, or the solar business? Then you need qualified clients with a good credit score to qualify for financing. This article can help you close more business and earn more money.

qualified clients

What Do You Do With Unqualified Clients?

You talk to people on a regular basis that do not have the credit score necessary to qualify to be your client. What do you do with them? We have found that in many cases, professionals in the industries listed above would rather just move on to find someone that can qualify instead of trying to help someone that can’t. If it only took you 10 additional minutes or less to help these people why not do both? In other words, take 10 more minutes to assist your unqualified client to see if they can become qualified in the future, and then move on to find someone that qualifies now.

How do you do that? How can you help someone that can’t qualify due to a low credit score become qualified? By developing a relationship with a trusted credit repair professional that has a stellar track record of helping people raise their scores. All you have to do is say to your unqualified client that you’re getting ready to lose, “I know someone that can potentially help you. Would you like me to give them your information and have them contact you?” That’s it. It’s actually less than 10 minutes of your time.

Upsides and Downsides of Partnering with a Credit Repair Company

What’s the downside? Assuming it’s a reputable credit repair company and they have proven to previously have helped thousands of people, the only downside is that this client isn’t a candidate for credit repair, or the client goes somewhere else to buy your product or service once their score is higher because you didn’t stay in touch with them.

What’s the upside? The credit repair company you chose has a system to keep you informed of the progress of your clients score improvement allowing you to know when to call them back. You, of course, do so and you close a transaction with someone you otherwise would have lost. All for an investment of less than 10 minutes of your time.

We Help You Have More Qualified Clients

When business is good we sometimes lose sight of these type opportunities to build our pipeline of future business. But this is so easy and time efficient it truly is something everyone in a credit related industry should do.

To learn how our company is different and is geared toward helping professionals like you watch this video. Then ‘Book a Phone Appointment’ and we’ll discuss how we can work together to help you close more business.

Now Click Below to Pull Up My Calendar and Book a Phone Appointment

If you are looking for a trusted company with a proven track record and an A+BBB rating visit ERA Credit Services . We work with professionals all over the U.S. helping their unqualified prospects become qualified clients, and helping them close more business.

Boomerang Buyers – San Diego Real Estate Market

Chances are that you have never heard of boomerang buyers before. Boomerang buyers are former home owners who have gone through a short sale, foreclosure, or bankruptcy in the past few years and are saving up for a down payment to purchase a home again—are coming back. Of course, one of the issues these people face is repairing their damaged credit and getting their score back up to be able to qualify for a mortgage.

Boomerang Buyers

I recently had an opportunity to discuss this topic with one of the top real estate professionals in San Diego, David Demangos.  As a tenacious and powerful Keller Williams Real Estate Agent, David’s desire is to help his clients buy and sell residential real estate. He is known as San Diego’s “go-to guy” and is extremely well networked. David connects local business people, building relationships, resulting in repeat referral business for one another. His leadership and management skills shine through.

Boomerang Buyers Are Re-Entering the Market in San Diego

David recently sold a home to a nice man who short-sold his home, built his credit back up and purchased a new home in just around twenty five months. Boomerang buyers are expected to flood markets in some of the hardest hit areas for short sales and foreclosures in the coming years. They are predicted to account for nearly one in every five home sales in the certain metro areas this year such as San Diego.

Rising rents and the desire to own again now that the economy is more stable are driving many boomerang buyers to re-enter the market. They also want to jump in before interest rates and home prices climb too much higher.

How Soon Can Boomerang Buyers Jump Back Into the Real Estate Market?

But how soon they can jump back in will depend on the type of loan they had as a previous home owner. According to my trustworthy lenders, boomerang buyers who had FHA loans may need to wait only three years if they can prove that a hardship, such as job loss or death of a wage earner, led to their foreclosure or short sale.

Borrowers have typically been required to wait five to seven years to qualify for another loan, but mortgage giants have begun to change their rules to allow home owners who underwent a foreclosure or short sale to qualify sooner. Those who underwent a short sale will likely qualify the soonest. However, not all lenders are participating, so borrowers will need to shop around. David is well equipped to refer people to lenders who can help.

Freddie Mac’s wait time is usually four years following a short sale or deed-in-lieu, and seven years after a foreclosure. Fannie Mae may require a seven-year wait for a foreclosure, but only a two-year wait following a short sale as long as the borrower can provide a 20 percent down payment.

Credit Score Implications for Boomerang Buyers

However, for all these people their credit score is going to be an issue. David and I agree that the first step anyone who wants to “boomerang” back into the market must take is to check their credit score and determine the gap, if any, between that score and a score that will qualify them for a loan.

Between David Demangos and me, Dale Guiducci of ERA Credit Services, we can help you step through the process of getting in position to be a boomerang buyer.

Who do you know looking to buy, sell or invest in real estate? Call:

David Demangos
Keller Williams Realty
Cell:  858.232.8410
Realtor® BRE# 01905183
San Diego Real Estate Area Expert / Green Specialist / ALC Committee
www.awesomesandiegorealestate.com

LABELS: BOOMERANG BUYERSFORECLOSURES IN SAN DIEGOHOMES FOR SALE IN SAN DIEGOSHORT SALE HOMES IN SAN DIEGO, credit repair in san diego, san diego credit restoration