In late October, Realcomp upgraded MoveInMichigan.com, Realcomp’s public search site, to include integration with Down Payment Resource (DPR). Realcomp has provided Down Payment Resource (DPR) to Realcomp REALTORS® for more than a year now through RCO3®, your MLS system. By adding it to our public search site (and Broker IDX feeds as well), consumers can now know on an immediate basis whether a property is eligible for any number of public (and some private) down payment assistance programs! Here’s how: Realcomp’s listing database is regularly processed through DPR to determine the down payment assistance eligibility of the listings and to update the DPR flags on the listings. Based on these updates, we know that 71% of the listings in Realcomp are indeed eligible for one or more different kinds of down payment programs.
So, that’s half of the “down payment program puzzle.” Additionally, the DPR tool enables consumers to provide specifics regarding their particular buying situation (i.e. number of people living in their household, whether the person currently owns a home, annual household income, and more) through the online interface to learn whether they themselves may be eligible for the same programs.
Without actually submitting their specific information, the consumer is only able to determine the number of programs for which they may be eligible. However, once they “submit” the information, they receive an e-mail from Down Payment Resource which automatically notifies them of the specific programs. The e-mail also provides them with your contact information and informs them that you have been notified of their interest. Additionally, you as the listing agent are automatically notified via e-mail of the consumer’s interest in your listing. This e-mail contains the consumer’s contact information, whether the consumer is currently working with an agent, the programs for which they pre-qualify, and a “Next Steps” suggestion for you to contact this potential buyer.
Steps Realcomp REALTORS® Should Take to Prepare for Receiving these Leads:
1. Check your contact information in Realcomp and make sure it is up-to-date. If it isn’t, be sure to update it at your earliest opportunity.
2. Add this domain to your safe sender list, so these e-mails are not blocked by your e-mail server.
3. Check your e-mail regularly.
4. Be sure to follow-up on these leads – the e-mails will originate from the “@Workforce-Resource.com” domain.
5. Learn more about the Down Payment Resource tool. Take a look at the Down Payment Resource YouTube videos.
6. Call Realcomp if you have any questions about this value-added product. You can reach us at (866) 553-3430.
See how one REALTOR® has benefitted from Down Payment Resource in her business.
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