Closings - Relocation
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Transcript Closings - Relocation
Certified Agent Advantage Program
Presenters:
CNAS:
Cartus
Network
Affinity
Specialist
2013
Copyright 2012
Agenda
2012 Program Performance
2012 Company Performance
Standard Operating Procedures
Service Performance Expectations
Agent Generated Referrals
HES Affinity Client Updates
–
–
Navy Federal Credit Union
Discover Home Loans – Real Estate Rewards
USAA
USAA Military Overview Training
CARTUS
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2012 Affinity Services Results
2012
YOY
96,320
15.9%
Total Closings
40,516
17.9%
Broker Pipeline
30,787
18.8%
Total Sales Volume
$9.3 billion
21.1%
Total Cash Back Paid to Customers
$39 million
20.4%
89.5%
flat
$265 million
20.8%
Referrals to Network
Recommend Rate
Broker Action Commission Paid
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Affinity Contribution to Our Company $ in
2012?
Line of Business
Affinity
(USAA & HES)
Destination
Affinity
(USAA & HES)
Departure
Total Affinity
(USAA & HES) Business
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# of Units
# of
Closings
Sales
Volume
How Did We Perform in 2012?
Our Firm
Home Event Services
Goal
Sales Conversion - Homefinding
45%
Sales Conversion – Listing
30%
Top Block (excellent only) Program
88%
Top Block (excellent only) - Agent
88%
USAA MoversAdvantage®
Sales Conversion- Homefinding
50%
Sales Conversion - Listing
30%
Exceptional Experience
(Blocks 9&10) – Program overall
85%
Exceptional Experience
(Blocks 9&10) – Agent
85%
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New Goals for 2013
Goal
Home Event Services
Sales Conversion - Homefinding
38%
Sales Conversion – Listing
25%
Top Block (excellent only) - Program
89%
Top Block (excellent only) - Agent
89%
USAA MoversAdvantage®
Sales Conversion- Homefinding
46%
Sales Conversion - Listing
25%
Exceptional Experience
(Blocks 9&10) – Program overall
85%
Exceptional Experience
(Blocks 9&10) – Agent
85%
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2012 Local Strategy Closing Goal
(Agent/Company Generated Referrals)
Our
Firm
Navy Federal
Closings
USAA Closings
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Goal
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AGR Submission - Why do it?
It makes Good Business Sense
Looking for a way to build your business? Take
advantage of your affiliation with USAA and Navy
Federal Credit Union to market yourself to former and
active military
Competitive edge – it is unique service
A risk!...member may contact the program and they
could be assigned to a competing firm or agent
Retention tool = Evokes loyal customer
Satisfied customers will tell their friends, family and
co-workers
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News to Know
Timeliness of reporting
Initial contact report
Critical gap in compliance nationwide
What happened with the lead? Coordinators need to know
2-day follow-ups by RECs –
Effort to reduce member issues and lost sales
Pending Sales
Our corporate clients receive daily list to see if a mortgage
outreach is necessary
REC congratulations call
Automated emails are sent with home event tip sheets
Closings
Members are looking for their cash bonus
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10
News to Know
New Standard Operating Procedure
Agent should discuss the program’s mortgage features and
benefits on 2 separate occasions
At initial meeting
At contract
Reminder – Member not using the program’s mortgage
company? Member is still enrolled in the real estate assistance
program!
Stay engaged with member
Set a communication plan
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Service: Customers want RESPECT
Our members look for a Real Estate Agent to highlight their
commitment to outstanding service through….
Rigorous attention to detail
Effective communication
Seamless deliveries
Professionalism
Efficiency
Courtesy
Trustworthiness
“Always do more than is required of you”
– General George S. Patton
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12
USAA Launches The Electronic
Survey!
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USAA – Survey Introduction Letter
Survey is from USAA and subject line of email :
USAA MoversAdvantage ® Satisfaction Survey
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USAA – Program Overall Question
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USAA – Agent specific Questions
Agent Name is referenced
In the question!
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USAA Email Surveys – Key Points
Member “may” receive a survey
Due to spam issues
There is no survey example to show member as in the past
Remind member to update their contact information on usaa.com
including their email address within 2 weeks of closing
Especially on military emails
Members will receive the survey 17 days after closing
Members who drop from the program will receive the survey 5
days after their file is closed
There is no ability to re-send the survey
What if member states one of the following: 1) I haven’t
received the survey? 2) I accidently deleted the survey?
1) Ask the member if they informed USAA of their new email address
within 2 weeks of closing. 2) Unfortunately, USAA cannot re-trigger
MAP email surveys. Members are always welcome to contact usaa.com
to provide feedback
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HES: Electronic Survey
Program Rating = Question
#11
Top 2 Blocks are referred to as
“Top Block”
Agent Rating = Question #10
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Client Updates
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Navy Federal Credit Union
Founded in 1933
4.4 Million Members as of 2012
Ranked number 56 on Fortune's 100 Best
Companies to Work For list in 2012
Bill Tessier
Asst. Vice President
Real Estate Lending
Navy Federal Credit Union
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Navy Federal Credit Union RealtyPlus
Program Name & Logo:
Customer Type:
Member
Participating Lender:
Navy Federal Mortgage
Incentive:
Cash Bonus (deposited into member
share savings account)
Closings since 1993:
34,270
Program Results
REALTYPLUS – 2012-Another Record Year!
Member Placements: 10,277 Up 45% YOY
Closings: 3,986 Goal 4,000
Up 45.6% YOY
Average Sales Price: $ 239,931
2013 Opportunities up 32% YOY Goal is 5,000 Closings
Service Excellence:
Program Overall :
Real Estate Agent Overall:
Satisfaction:
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Copyright 2012
88%
91%
91%
Sources of Business
Did you know? There are 5 primary sources of members reaching Realty Plus
Source
Percent of Business
Members introduced by Navy Call Centers
50%
Members Call 800#
16%
Internet
14%
Navy Branch Leads
14%
Agent Generated (2013 goal is 12%)
6%
In 2012 NFCU welcomed 600,000+ new members
Branch visibility! Currently 225+ branches worldwide and RealtyPlus leads received
from over 684 Branch employees up 58% YOY
9 New Branch openings in 2012 – FL / TX / GA / CA / MD
Navy has 3 Call Center Locations: Winchester, VA, Vienna, VA (Navy’s headquarters),
Pensacola, FL (350+ call center employees )
An active broker pipeline averages 4,000 members
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Marketing
In 2012
Home Center - promoting education / Mortgage / RealtyPlus
Navy no pre qualification / application fee to members
Broker training webinar posted to Cartus Networks
Select Broker Branding Available to Brokers in Network ( Posters / buttons/ mortgage
folders / micro sites / email)
Varies campaigns: Radio spots / TV commercials / Face book / You Tube videos /
statement inserts / In branch marketing / ATM marketing –LCD /Plasma screen ads
In 2012 and 2013 continue efforts to drive members through website/call center
Continue promotion of $2,500 in closings costs
https://homecenter.navyfederal.org
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A Variety of Mortgage Programs
Including : Conventional, FHA, VA, 100% Buyer’s Choice®, & Active Duty
Choice® Mortgages
Some benefits members receive:
Closing costs up to $2,500*
Personal guidance from first call to closing, 7 days a week
No application fee*
Competitive interest rates and points, including a no-point option
No fees for underwriting, document preparation, notary service or
document copying
No PMI on most conventional loans
No hidden fees or surprises at closing
Navy Federal service for the life of your loan
Rate lock options
Bi-weekly payment plans
No prepayment penalties
Loans available nationwide
Need Mortgage Assistance?
Contact Local Navy Federal Team Members
* Limited time offer
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Banner NFO Web Offerings
Navy Agent Help Desk
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Discover Home Loans: Real Estate Rewards
Discover Home Loans and The Real Estate Rewards program launched October 2012
Customer Type:
Customers
Participating Lender:
Discover Home Loans
Incentive:
Cash Rewards
Customers
30+ Million Credit Card holders
Discover Employees
Mortgage Bankers
(contact info provided w/referral)
(may have direct contact with Agents)
Mortgage Escalation
To the Cartus Coordinator
and/or Mortgage Banker
In KS and TN Discover Gift Card Offered
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Discover’s Lending Promise
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Real Estate Rewards in 2013
Marketing campaign
Real Estate Rewards Site with MLS
Search
Up to $2,000* in mortgage incentives
Up to $3,100* in Cash Rewards for
using Real Estate Rewards
Target closing goal is 500
Customer Inserts
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2012 Year End Key Results
Members Services Received
Placements to Network
Pipeline of Services Placed
Closings
AGR closings
Member Satisfaction
Mortgage Closings
127K
9.3%*
94.8K
16.6%*
25.9K
15.9%*
35.5K
3,795
14.2%*
18.0%*
82.1%
1%
15K
4.1%
*All Time Record
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A Message from USAA Leadership
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MoversAdvantage® 20th Anniversary
35805
37500
30783
35000
32500
24775
30000
25311
25541
23700
27500
25000
30993
28559
22211
22500
20000
17500
15000
12500
10000
7500
5000
2500
0
2004
2006
2008
2010
375,000 transactions closed since 1992!
Over $3 Billion commissions earned!
$301 million paid to members!
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2012
USAA Mortgage Updates
Electronic E-signatures now accepted
New Construction
VA Loan Standard Documentation /Training tool
Partnership with D.R. Horton, national builder
Increased USAA mortgage fulfillment staffing
95% complete before appraisal can be ordered
2011 – 46 pods (teams)
2012 – 77 pods
2013 – 89 pods
Certified Cash Buyer program (CCB)
CARTUS
The Certified Cash Buyer Program otherwise known as a CCB is a
conditional credit pre-approval for your home financing. The mortgage
conditional credit is valid for up to 90 days before closing so you have
the advantages of a cash buyer. VA loans are valid for 120 days for
existing homes, and extended to 180 days for new construction.
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USAA Updates
National marketing
Zillow, Homefinder,Military by Owner, Truila, Realtor and Adconion
Banner ads on usaa.com
USAA MoversAdvantage® Folders
Ancillary services for the member
ADT
Whitefence
Home Value Monitoring
Contractor Network
PODs
Home Circle enhancements
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HOME CIRCLE
Numerous Search Enhancements - Launched
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
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Improved MLS# search
Larger Images on Details Pages
Duplicate MLS# support
Better Google Ad tracking (traffic
improvements)
Agent Portal - Updated email
templates
Property Status (Active/Pending)
“Date Added” Now on Listings
Upgrade to Google Maps v3
Unique title tags for better search
engine placement
Property Risk Assessment Tools
Schools not displayed on maps
Agent Bulk re-invite Batch Mode
Better reporting on "No mortgage
available" (Agent Portal)
Floating Map on Search Results
Pages
Enhanced Rental Attribute Search
Copyright 2012
16.
City and Military Base Type-Ahead
17.
LeadQual - Placement form
18.
Broker Tagline Updates
19.
Atlas Tag for better reporting/analytics
20.
Cash Bonus Formula Update (HC, Alert,
AP)
21.
Agent Portal - Bulk re-invite for Brokers
22.
Coborrower & Mortgage/Agent
correlation
23.
Basic Pet Friendly Filter for Rentals
24.
MA Form A/B Test: Security Messaging
25.
Typeahead: Phase 2 Improvements
(unified search box)
26.
Search by Address - Phase 1 - Exact
Search
27.
And more….
Reminder! - USAA Updated Quote Request
When to Use
This procedure is required (not optional) for
all USAA MoversAdvantage® referrals.
member indicates they may not be using USAA
Mortgage because they need a faster closer or
are shopping rates,
Set the member’s expectations!
A USAA specialist will contact them for a
complimentary mortgage comparison
Immediately send request with a copy to
your Relocation Department to
[email protected]
Don’t send to be sending-2 weeks before e
closing is not acceptable !
Over 3,100 requests sent in 2012
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3-Step USAA Mortgage Process
STEP 1: GET PRE-APPROVED
USAA Bank provides a Pre-Approval/Certified Cash Buyer (CCB) certificate that contains
pre-approved loan amount, monthly payment and taxes.
This is an estimate of buying power determined from the member’s credit score and an
automated underwriting system decision based on the member’s stated information.
IMPORTANT: a CCB is not a Mortgage Loan Approval.
Once the seller & buyer have a signed purchase agreement member moves to step 2.
Note: Closing date is set and rate is discussed/locked AFTER the MEMBER calls USAA
Bank at 1-800-531-USAA (8722) to begin Step 2. Purchase agreement required.
STEP 2 : CONVERT PRE-APPROVAL TO MORTGAGE APPLICATION
USAA Bank will convert the Pre-Approval/CCB into a full mortgage loan application AFTER
BOTH “A” & “B” occur:
–
–
A) Member or agent fax in the fully executed purchase agreement to: (866) 384-8867
B) MEMBER MUST call USAA Bank at 1-800-531-8722 NO LATER than the next
business day. This is necessary to confirm the closing date, ensure it can be
met and to order the Conventional or VA appraisal.
STEP 3: SEND IN REQUIRED DOCUMENTATION FOR UNDERWRITING APPROVAL
Examples: income and asset verification as well as all signed disclosures, otherwise the
closing date could be in jeopardy.
USAA must confirm information that was stated by member at time of pre-approval as well
as receive a property appraisal verifying acceptable value and condition.
Note: If at anytime during the Pre-Approval, Loan Application, or Appraisal Process
something changes related to employment, assets, credit or the purchase
contract, please notify USAA immediately.
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USAA Contract Cover sheet:
USAA & MFHL
New look!
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Mortgage Escalation Process
Always check the USAA mortgage portal for status updates
Contact processor
If they cannot reach the processor they can press 0 (zero) to reach a
Senior
Agent Helpdesk
800-914-9691
Still need help? Agent should contact Relocation Department
Relocation department process
Email [email protected] with a cc to
[email protected].
The email must contain the following:
Member name,
File #, Member #, and loan # if available.
Your email will be forwarded to USAA, so please make sure it
contains facts and try to eliminate agent’s comments about
USAA. We will escalate the issue and keep you posted on
status when it is provided by USAA.
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Your Role
Continue to deliver exceptional service
Improve conversion rates
Make members aware of USAA products and services
USAA Mortgage UPQ
“Speed to Lead”
Use Agent Portal
Sales Contracts
CARTUS
Speed up the process- contract reporting time
Copyright 2012
USAA Preferred Agent Portal
Updated February 2013
Military
Overview