According to 2017 loan data, 36% of mortgages across the largest U.S. cities were eligible for down payment help. Plus, the average down payment assistance benefit was $9,208. That means more than a third of buyers might be leaving money on the table!
The down payment ranks as the number one obstacle for potential homebuyers, and for some buyers, leaving money on the table could lead to them not being able to buy.
As a NorthstarMLS subscriber, you have access to Down Payment Resource, a core service that helps you help your clients identify these programs.
With Down Payment Connect, NorthstarMLS subscribers get their own personalized link to a custom landing page that invites homebuyers to fill out a form and see if they are eligible for down payment programs in our market. It can be a powerful lead-gen tool for agents and valuable service for first-time buyers.
As an agent, you can add the link to your website, email signature, social media and Facebook ad campaigns. The video below walks you through how to embed the link and use it as a marketing tool.
A few weeks back, we announced that NorthstarMLS subscribers now have access to a new lead-gen tool from Down Payment Resource called Down Payment Connect. It’s a new way to quickly match clients and prospects to down payment programs they may be eligible for.
If you weren’t able to attend the free online training webinar last month, DPR recorded the webinar and you can now watch it on your own time. Click here or click the play button on the video below to view it.
Solve your buyers’ biggest problem with Down Payment Connect
Through our partnership with Down Payment Resource, NorthstarMLS subscribers have their own personal landing page and down payment assistance (DPA) program search–called Down Payment Connect. This lead-gen tool is free and available to all NorthstarMLS subscribers. Your clients and prospects want to know about these programs, and you can help them find this information.
Use Down Payment Connect on your websites, blogs, email signatures and social media. Live webinar training is available for this new feature on Thursday, May 11 at noon. But you can start using Down Payment Connect now!
Get started in 3 simple steps:
Log into NorthstarMLS Matrix.
Click Down Payment Resource (from the Home tab menu or External Links box) to open the member home page.
At the top of the page, you’ll find your personalized Down Payment Connect link.
The name! Formerly known as the Personal Marketing Tool, Down Payment Connect has more focus on the homebuyer and how you can help connect them to valuable resources.
More marketing help, all in one place. Updated customizable flyers and other marketing tools. The best part is they are now all accessible from one place.
Down Payment Resource (a NorthstarMLS core service) was recently named one of 2017’s most innovative technology companies by HousingWire TECH100. DPR received the honor for its ability to automate the process of matching buyers and properties to more than 2,400 available homebuyer programs.
In 2016, visitors to DownPaymentResource.com increased by 122% and down payment program searches completed increased 39%, according to the HW article.
Currently, 52% of Active SF Residential listings on NorthstarMLS Matrix display the DPR flag, which means the listing is potentially eligible for a down payment program.
Respondents in the latest National Association of REALTORS Profile of Buyers and Sellers said that saving for the down payment was the most difficult step in the home buying process. Data also shows that buyers aren’t overwhelmed by more information—they are consuming and using it to help move their home search forward. Many buyers are unaware of or have no access to information about homeownership programs that could make their home purchase more affordable. As a NorthstarMLS subscriber, you have access to Down Payment Resource, a core service that helps you help your clients identify these programs.
This video shows how to begin the process of checking your client’s down payment program eligibility and how to search through local programs that may be available to your clients. Give it a view, it’s just over two minutes long!