One of the things that never ceases to amaze me is why most Realtors have not yet embraced the Reverse Mortgage product. With just a few exceptions, most of the realtors that I know seem to regard Reverse Mortgages as COMPETITION!
Why not take a look at the largest untapped market in Canadian real estate: Canadian Homeowners aged 55+. There is a massive opportunity in the Canadian real estate market but many agents have yet to act. Canadian Homeowners aged 55+ have needs that are not being met by standard real estate arrangements, but they are nevertheless looking to buy and sell just as much – if not more – than their younger counterparts. Terry Lynch has a perfect solution that will help you, as the realtor, leverage your network to address this gap in the market.
What does that mean?
More commissions and better returns for you and your business.
Realtors could be making more $$$ !!!
As a Realtor, you could be taking home even more commissions by offering reverse mortgages in the right situations. Unfortunately, this money is slipping away due to a simple lack of information. Which is why I would like to make you aware of these opportunities; you could be tapping into an otherwise ignored market!.
As a realtor you are well-positioned to tap into this lucrative market sector, providing you many mutually profitable opportunities.
Why not increase your income by tapping into an otherwise overlooked real estate market.
It’s time to think ‘Outside the box’
Many realtors have, or should have a network of age 55+ Canadian clients. We can work together to leverage these relationships into more sales and more commissions. While the rest of the housing market experiences its ups and downs, this new audience will help you meet (and even exceed) your targets long term.
Here’s how you can get started:
- Review your age 55+ database and identify the clients who fall into this demographic
- Let me explain what a Reverse Mortgage can offer your clients, such as:
- The flexibility of receiving a lump sum or monthly payments to boost their lifestyle
- The ability to leverage the equity in their current home to purchase another property
- Free up existing Money from their property equity to upgrade their home for a higher sale price, without jeopardizing their retirement, or:
- Use the proceeds to help their children/grandchildren purchase their first property, or:
- Purchase an investment property or a ‘getaway’ water-front summer cottage
- The list is limited only by your imagination.
Remember, this is ‘tax-free’ money to spend in any way your clients see fit, no limitations. Let Terry help you with the knowledge and the sales collateral to help you, as a Realtor, communicate these benefits to your clients.
We can do more together – Financial incentives:
The one constant in a constantly changing market. Canadians 55+ are the country’s fastest-growing demographic and hold over 1 trillion dollars of equity in their homes. While the rest of the housing market has its ups and downs, you can meet (and even exceed) your long-term targets by tapping into this expanding client base and you can provide out-of-the
box solutions for your clients
How can you make more $$$$ by partnering with Terry Lynch TMG The Mortgage Group? Following are some often-overlooked opportunities for realtors to make extra commissions: The Reverse Mortgage is purpose-built for Canadians 55+ who do not have a regular income. It provides the funds to help them upgrade their current roperty for sale and get into a new one. Don’t let this opportunity slip away While other realtors compete over conventional homebuyers, you could be capitalizing on 55+ homeowners – and all the commissions that accompany them. Whether they are looking to move into a new home, purchase a vacation property, or help family members own their first house, 55+ clients are the key to finding your edge in the market.
While downsizing can free up equity in a home to pay off debt and provide income, clients worry that moving costs will be much higher than expected
A reverse mortgage gives clients the cash to get into a better home, cover moving expenses, eliminate debt, and increase cash flow. And when they want to move, they will come to you.
Upgrading to a more expensive property:
A client wants to move into a home or neighbourhood that is, financially speaking, just out of reach
Use the proceeds from the sale of their home as a down payment on a new home. Then apply a reverse mortgage on the new home to complete the purchase and let them live without mortgage payments. That means two sales – and two commissions – for you the realtor, commissions from the sale of the existing property and the purchase of the new one as well as a Referral Fee from me.
Buying a vacation property:
A client wants to spend part of the year in a more hospitable climate, but they aren’t sure they can afford it.
While keeping ownership of their Canadian property, a reverse mortgage can give a client the funds and freedom to purchase a second property.
Helping a family member buy a home:
A client wants to help their children or grandchildren purchase their first home. Unfortunately, they don’t have the cash or income to contribute.
Use a reverse mortgage to unlock equity from the client’s home so their children or grandchildren can get the realtor’s help to break into the real estate market. A win-win for the client, and you the realtor.
In the unfortunate event of a divorce or separation, the home often needs to be sold, leaving both parties in need of a new place to live.
As the realtor you can help your clients sell their current home, then help each party purchase a new home by using a reverse mortgage to pay off the outstanding balance of the purchase. The result? Three sales and two new Reverse Mortgage referral fees!
Do you have a situation that might be a fit for the above?
Why not give Terry Lynch a call to discuss these opportunities in greater detail.
Terry Lynch is a licenced mortgage agent with TMG, The Mortgage Group. In addition to Reverse Mortgages, Terry also specializes in: conventional mortgage funding, lines of credit, commercial and construction loans, Challenged Credit. He also secures funding for a variety of businesses such as retail, restaurants, franchises etc.