As a lender, you have most likely been shifting your focus these past couple of months to borrowers looking to refinance their mortgage. The time is now though, especially moving into the month of June, to start thinking about your purchase leads again. Amid the current world state people are still looking to buy or sell homes and when the time comes for them to need financing, you want to make sure you are top of mind for these borrowers.
Overall visits to for-sale listings rebounded in April, and was even slightly higher than April 2019.
For-purchase mortgage applications are now up year-over-year, 54% higher than lows hit in April.
With the help of our predictive analytics platform, Mortech Protection, you can more proactively target your marketing spend to these home sellers who will need new financing on their next home purchase. Built on pre-mover data from Zillow, our platform takes your uploaded list of customer addresses and flags the homes that are currently on the market as well as predicts the likelihood of a home to list in the next 90 days. With this information you then can create a more targeted marketing approach to these specific home sellers through phone calls, direct mail campaigns and curated emails.
Some key data points that our platform looks at to flag homes in your database that are on the market or could be soon include:
- For sale by owner
- For sale by agent
- Coming soon
Zillow site data:
- Home details
- Site usage
- Location/census data
- Past home activity
Our algorithm accurately predicts 1 in 4 homes with a “very high” status that will list in the next 90 days. By focusing on smaller subsets of home sellers that are actually in need of your services now helps you save both time and money. Contact us at firstname.lastname@example.org to learn how you can leverage Mortech Protection to be the first lender to reach out to these purchase borrowers.