Written By: Karen Deis
According to the US Census Bureau, Americans have spent almost $200 Billion (yes, that’s billion with a B) on remodeling and home improvement projects last year! It’s almost a $25 billion dollar increase over last year!
With people unable to sell their homes, they have turned to home improvement instead!
Breaking it down even further, 75% of the money spent and the projects made were by homeowners while the balance was spent by rental property owners (investment or fix-and-flip).
Do you know what’s happening right now?
You are losing business to loan officers stationed in home improvement stores like Home Depot, Lowes and Menards.
They have kiosks located near the bath and kitchen remodeling departments for the sole purpose of providing home equity loans to customers who need financing to start or complete a home improvement project.
Here’s the most startling part—very few people care about the interest rate! What they care about is how their home improvement project will improve their quality of life.
In talking to loan officers who specialize in home equity loans, what I have found is they end up closing more cash-out refinance loans than HELOC’s.
Based upon the information above, why not hold Home Improvement Seminars?
You know where to find attendees…they’re your past clients!
Here are some ideas on speakers and content.
In addition, John Stearns and Dan Casper with Robbins & Lloyd Mortgage Company have piggybacked on this idea with their Home Equity Seminar!
If you need a refresher with tips on how to hold a successful seminar, visit www.LoanOfficerSeminars.com and view the "Successful Home Buying Seminars Made Simple" online course.
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