Published on July 14, 2020
Written by The Servion Group
By hosting home buyer or home seller seminars. And given today’s uncertain world, you can easily host a webinar instead, allowing you to reach your audience digitally and without the need to gather in person.
Why should seminars/webinars be part of your FI’s mortgage strategy? We’ll offer 10 reasons why – five reasons in this article and five more in an article coming up shortly.
Providing financial education to your community shows that your institution cares about more than transactions. Sure, you care about earning their mortgage business, but you also care about their overall financial wellness. You want them to be prepared for one of the biggest financial deals of their lives. You can show this even more by partnering with reputable real estate company (such as our own Servion Realty), an insurance pro in your area, and other value-adding experts. This way, attendees perceive you as making a genuine attempt to help them, not just sell them something. Your loan officer participates in the seminar/webinar, but there’s no hard sales pitch; just reasonable advice from trusted sources who know home buying inside and out.
Chances are high that your local residents are constantly being barraged with online “information” that may be suspect. Plus, whatever they’re reading, it’s probably not written specifically about your city or town. And, most people considering buying or selling a home have a friend or two who is in their ear with tips or advice, which may or may not be accurate. Your seminar/webinar is a chance to give people real, verifiable information without making them feel uneducated or naïve. Many will relish the fact they are getting the latest and greatest information directly onsite from an insider’s perspective.
Hosting a seminar/webinar helps your institution gain a better understanding of the people in your community. You’ll get to interact with families and workers, and learn more about the household demographics of the areas you serve. That enables you to evaluate your products and services to make sure they match the needs of the community and make changes to your offerings if needed. If you routinely hold seminars/webinars, use them as test labs. Take notes in each session and compare/contrast the questions, comments and habits of attendees over time. You’ll learn how to adjust and tweak your mortgage message to a variety of buyers and sellers since they are all in different situations. Analyze the exact circumstances they are facing. Maybe even take some quick written or verbal surveys.
Home buying/selling seminars educate your institution as to whether it should be involved in more types of mortgage programs and lending opportunities (or fewer). There’s a web of different government mortgage programs out there (FHA,VA and USDA), as well as state and local “affordability” programs, initiatives and grants for first-time and hardship buyers. How do the mortgage products and services your FI offers compliment these outside efforts?
The home buyers and sellers who attend your seminars/webinars will leave the event with a deeper understanding and respect of all the work it takes to make their purchase or sale a success. Such an education builds trust and sets proper expectations before the process begins. Their admiration of the way your FI delivers a mortgage will probably increase and proper expectations lead to a more satisfied client.
Financial literacy is very much needed in communities across the country. Buying and selling a home is the largest transaction most people undertake in their lives, and by helping people understand the process, you’re contributing to their overall financial health.
Add home buying and/or selling seminars to your to-do list and you’ll slowly see positive results for your FI.
Want tips on how to set up real estate seminars/webinars? Not sure what topics to talk about? Contact Chris Nowak, managing broker of Servion Realty, for advice or help getting a program off the ground!