5 ways credit unions can connect with realtors
by: Shannon Van Sickler
The family home. It’s where the day starts and ends for virtually every member of a credit union.
Your members’ homes are the foundation from which their life grows. When neighbors talk about possible future moves over a back fence, your credit union should be part of that conversation.
So why do so few of your members get a home loan from your credit union? Often, it’s because real estate agents steer home buyers to other home loan sources. In many instances, that’s because real estate agents just aren’t very familiar with credit unions, which still account for a small part of total mortgage originations nationwide.
Even in this age, when our smartphones can literally guide shoppers to homes they want to look at, buying a home is still very much a person-to-person business. Members place enormous trust in their real estate agents, just as they trust you to help manage their financial lives.
In short, real estate agents are a key to building your credit union’s mortgage business. Educating agents in your area sounds like a tough task, but the good news is that real estate agents are eager to hear your message. Large banks in faraway cities can’t match credit unions in at least three key areas:
- A hometown presence. If agents have a question, they can drop by to speak to someone at your credit union in person.
- Strong borrowers. Your members collectively boast higher incomes and credit scores than the general population.