HOW A FIRST TIME HOMEBUYER CAN GET HIS ENTIRE CORE7 TEAM TOGETHER

How a 1^st Time Homebuyer can get his entire Financial Team together

You may have read this in the first part of the book. I am repeating it here to put a focus on what it is. So here it is again.

Let’s say the Realtor is working with a homeowner and the natural referral is to the Mortgage Consultant and the Real Estate Attorney. 

This should happen every time because the Realtor is the quarterback of the home purchase. 

The Realtor refers these professionals, if the Mortgage Originator is doing their part and introducing the Financial Advisor with either the Cash Flow Cross-Sell at the Loan Consultation or by the Closing Cross-Sell which can be done either by the Mortgage Originator or the Real Estate Attorney.  If that is happening, the advisor is being introduced 

I’d say about 50% convert and actually meet with the Financial Advisor, but it should still be done every single time because as I said earlier, clients come back to me a year later and have asked me for this Financial Advisor referral.  I’m establishing that I’m their financial resource first for the introduction to this Financial Advisor. 

The referral has gone from the Realtor to the Loan Officer to the Real Estate Attorney, and it has now been introduced to the Financial Advisor.

The Financial Advisor starts working with the client to create a financial plan and the other Core7 professionals are brought in to complete the plan and complete the client’s financial team. 

They are meeting with the Financial Advisor, they are putting together a financial plan and at a minimum they are going to need to talk with an Estate Planning Attorney to discuss a will, power of attorney and a health care proxy. 

They should discuss, if they have any assets, they should discuss an Umbrella Policy with the Property & Casualty Insurance Agent. 

The Accountant should be there to review some tax planning now that they are going to own a home for the interest deduction and stuff. The Financial Advisor is bringing in all the other professionals.

If the Financial Advisor does a financial plan, all the other professionals absolutely are needed.  There may not be, for example, a tax need right at that point, but having a tax expert in place is a huge benefit.   

These four professionals are constantly working and collaborating together, and it’s the client who benefits the most because every time a home is purchased, the client has the opportunity to get their whole financial team together immediately right when they make what is typically their first major financial investment of their life. Buying a home kicks off so many other financial needs. 

The younger you are when you start planning, the better.  It’s cheaper, things have more time to develop, and it makes perfect sense. 

(We have a special bonus training called Financial Advisor Referral from the 1^st 2 Pages of the Tax Return. If you work with Tax Returns you can jump to page (x) to review.)