A renter picks up the phone and calls a lender. They are nervous. They already did the hard part. They raised their hand.

And what do they get? A number. Or a no. Or a link to an app.

David Sidoni calls that a stop sign. David is a realtor and the host of the How to Buy a Home podcast. He has helped first-time buyers since 2006, and he has been my friend for a long time. He says there is a better answer.

What should a renter hear on the first call?

This is your starting line.

David’s program is called the Last Lease Ever. Here is the idea. You find out where the person is today. Maybe they are ready to buy. Maybe not yet. Either way, you give them a plan.

What replaces the loan application?

Three numbers. Credit score. Monthly debt. Savings.

Write them down. Then draw three thermometers, like the ones charities use. Fill each one to where the buyer is today. Put the goal at the top. David adds sparkles and glitter. I am not going to tell you not to.

How does the monthly check-in work?

Every 30 days you ask the same three questions. What is the score? How is the debt? How is the savings?

You are not calling to talk about rates. It is not a prospecting call.

Give one small action step each time. Get added as an authorized user. Ask a card company about a higher limit. Keep the steps small. David says smaller goals get more replies.

I ran mine the same way. Before the first call ended, I put the check-ins on the calendar for the next 12 months and sent the invite. A week before each one, I sent a short email with the agenda. No shame if the buyer missed a goal.

Why is it worth the work?

A loan officer has a job. A mortgage advisor has a career.

A loan officer wants to close this one or move on to the next lead. An advisor stays with the buyer until they are ready. A first-time buyer who gets that kind of help can stay with you for 30 years, and every friend they have is in the same spot.

And if a first-time buyer asks a lot of questions, look at your explanation first.

 

What should you do this week?

Do these four things.

1. Write three questions on a card: credit score, monthly debt, savings.

2. Pick the last buyer you told to call you when they were ready. Text them those three questions.

3. Draw their three thermometers. Put the goal at the top.

4. Put the next check-in on the calendar before you hang up.