FAQ About Credit Repair (Realtor Edition)
Ever wonder what happens when your client gets referred to credit repair? If so, we’d like to help provide some clarity to help you get more returning clients ready to credit qualify for their home.
Question #1: Why does it take so damn long?
Unfortunately, credit repair is not a magic wand. A responsible credit repair partner will seek to uphold the rights of your client, while working to help them build healthy credit for the long term. This process can take some time depending on the severity of your client’s casework. Most clients are able to reach their goal within 6 months, and their active participation will help speed up that time frame.
Question #2: Can you guarantee a credit score increase?
Avoid companies that provide specific credit score guarantees or promised time frame expectations. These companies may have short term success in manipulating a credit score, but fail when creating a legitimate home buyer. Not only are credit score guarantees misleading for your client, but they are a violation of the Credit Repair Organizations Act.
Instead of hyper-focusing on a credit score, we recommend focusing on the accuracy and health of the content on the credit profile. There are hundreds of factors that go into a credit scoring model, but if you have a healthy credit profile with accurate account information, you should have no issue credit qualifying for a home loan.
Questions #3: How do I keep tabs on my client’s progress?
Communication is key to getting your clients back to you to credit qualify. Instead of online portals and cryptic emails, we focus on providing a simple approach to our partner communication.
You’ll receive a monthly video email with active client updates.
You’ll receive 3 points of communication within the final 30 days of your client finishing our services.
You’ll receive a video email with casework details and time frame estimates on all new client enrollments.
In addition to all of this, you have a dedicated team committed to answering your questions and driving more contracts to you and your team.