How MLSs Can Support Brokers and the Community
Recently, large brokers have voiced their discontent about the focus and support they receive from their MLSs. The discord reached its boiling point last month following a panel discussion at CMLS in Boise, Idaho that sent MLS executives scrambling to touch base with their broker members. Here's one specific tool that MLSs can use to strengthen the relationship with all of their members and provide an extra boost to your large brokers, too. It's called Down Payment Resource (DPR). It integrates with your MLS system to provide your members with information about down payment assistance programs in your area. It's the first step to removing the down payment hurdle for qualifying consumers. While an average of 70% of listings in any given market are eligible for down payment assistance, these programs are often underutilized. Information can be difficult to find, but DPR makes finding this information simple. It aggregates data on all active assistance programs in your area and flags eligible listings in your MLS's data feed. At a glance, your members are able to see if a home qualifies for down payment assistance. Everybody wins with this program. If anything, large brokers with more listings actually benefit even more smaller brokers do. Any brokerage that has a mortgage company as an ancillary business can benefit in two ways--the program can help generate leads for agents as well as the mortgage division. In fact, two-thirds of agents say that with DPR they are able to convert sidelined prospects into qualified homebuyers. Large brokers can work with DPR to educate their mortgage divisions about how down payment assistance programs can significantly increase the number of clients that qualify for a mortgage--even with QM and QRM restrictions in place. Watch the attached webinar to learn more about the DPR program and how it can help your brokers grow their business.
MORE >
How MLSs Can Support Brokers and the Community
Recently, large brokers have voiced their discontent about the focus and support they receive from their MLSs. The discord reached its boiling point last month following a panel discussion at CMLS in Boise, Idaho that sent MLS executives scrambling to touch base with their broker members. Here's one specific tool that MLSs can use to strengthen the relationship with all of their members and provide an extra boost to your large brokers, too. It's called Down Payment Resource (DPR). It integrates with your MLS system to provide your members with information about down payment assistance programs in your area. It's the first step to removing the down payment hurdle for qualifying consumers. While an average of 70% of listings in any given market are eligible for down payment assistance, these programs are often underutilized. Information can be difficult to find, but DPR makes finding this information simple. It aggregates data on all active assistance programs in your area and flags eligible listings in your MLS's data feed. At a glance, your members are able to see if a home qualifies for down payment assistance. Everybody wins with this program. If anything, large brokers with more listings actually benefit even more smaller brokers do. Any brokerage that has a mortgage company as an ancillary business can benefit in two ways--the program can help generate leads for agents as well as the mortgage division. In fact, two-thirds of agents say that with DPR they are able to convert sidelined prospects into qualified homebuyers.
MORE >
  • Upcoming: TransactionDesk Broker Essentials - Full Suite More>
  • Upcoming: Local Expert Best Practices to Help Win Listings More>
  • Upcoming: The Best in the Business: Making the Most of Your RPR Reports More>