I have some good news for people that already own a home that are in your database.
Here's the stats:
According to the KCM blog, home equity is up 29.3% across the board — which equals $51,500 in added equity over the past 12 months.
So then the question is:
Well, what can people do with that equity?
And there are a lot of things they could do:
They could pull it out in cash with a refinance, of course. They could take that equity and use it as a way to move into their dream home by stepping up — and there's a lot of people out there that may not realize that they can step up into their dream home with very little changes in their payment because of their equity.
There are tons of conversations you can have here.
Take that data, repackage it, and push it out to your people in your sphere of influence and start having conversations with them.
You could say, "Hey, would you like to get a specific number for how much equity build you've had in the past 12 months?"
You can share the big data and then say, "Hey, would you like me to refine this and actually do a little quick CMA for you? I know you may not be interested in selling, but just let me reach out to you and just give that to you for free as a service to you. Happy to do it."
Have a reason to start a conversation.
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