Thursday, September 1, 2011


Just after the housing bust of 2007, most modular home sales reps were asked for leads from their assigned builders.  I can remember it like it was yesterday.  "If you can supply me with good leads, I'll switch to your factory."

It should have been simple to hand them a couple of dozen leads like it was in the early 2000's but both the builder and the factory have watched their leads dry up faster than a Texas lake.  

But times have changed and even though builders still ask for leads, that is not the Number One thing they want today.  Now you hear "Do you know any bank that can finance these people?"

The modular home industry has a huge opportunity to cash in on this question and raise awareness of the benefits of modular home living.  That advantage is having a lender in your pocket!

Think about this for a minute.  Most independent site builders and a lot of modular home builders don't have good working relationships with a banker that can actually loan money for new construction, especially "construction to permanent."  If a builder is doing 1 or 2 homes a year, bankers tend to write them off which leaves the prospective new home buyer looking for his/her own mortgage financing.

If a sales rep has established a good relationship with a banker that can actually finance new construction, the banker would reap the reward of many builders providing buyers and that makes it a win-win situation.  But if a sales rep hasn't taken the time and energy to ferret out a banker, then what else can the builder do but look for a sales rep that has one in their pocket?

Factories that don't actively pursue financing for their builders or their sales reps will start to see their builder base erode and worst case, they close their doors.  Can you imagine how many modular home builders, including site builders, would become customers if the sales reps had financing to offer them along with a good product? 

Financing, one more tool in the professional sales rep's toolbelt.


Anonymous said...

Finding a loan for a builder's customer is hard enough but most lenders don't even want to talk to the buyer when they hear the word modular. When are these people going to learn?

dcbrady said...


Contrary to popular belief, construction/perm loans are available with low down payments and credit scores as low as 640. We offer them in 31 states. Let me know if you want details.

Anonymous said...

hey dcbrady, if you've got such a great program, why aren't all the new home builders using it?