Three more MLSs announced today that they will offering a great new service that helps connect consumers to a myriad of downpayment assistance programs around the United States. The program called Workforce Resource helps agents promote downpayment assistance programs that will help their clients be able to afford homes because they will receive help with the downpayment. Within the MLS system each listing is tagged with the type of downpayment assistance program(s) available for that home.
These forward looking MLSs now join NorthstarMLS and Empire Access MLS to cover 23 million Americans in 10 states served by over 90,000 REALTORS® marketing more than 140,000 listings eligible for 824 homeownership programs administered by 128 Housing Finance Agencies.
Russ Bergeron from MRED has joined a new phrase for these types of applications. He calls them Public Service Applications or “PSA’s”. He says “MRED is very pleased to be able to provide our brokers and agents a tool that enables them to identify listings that qualify for down payment assistance programs and help buyers determine their potential eligibility for those programs,” said MREDs Chief Executive Officer, Russ Bergeron. “In todays environment, prospective purchasers face new, stricter requirements to obtain a mortgage. Down Payment Resource helps both potential buyers and the real estate professionals serving them. It is truly a winning proposition for everybody involved. This is just one more example of MREDs dedication to offering its customers no cost applications that enable them to put people in homes they might otherwise not be able to afford.”
In a time when MLSs are struggling to find new ways to keep our organizations relevant and vital to their membership, these kind of applications can make a meaningful difference in the lives of agents as well as their clients. It’s a great way to deliver tangible value to your subscribers while helping in some small way to solve the real estate crisis we are living through at the moment.