The rate hikes from the Bank of Canada have had a cooling effect on the housing market. The latest 100-basis-point hike has caused a lot of concern for homebuyers. That, coupled with more inventory over the last couple of months than we’ve seen in a while, has home sellers second-guessing if it’s really the right time to sell.

Times are tough. Inflation is astronomical and rate hikes are still rising, all of which are causing economists to speculate about a recession. Buyers and sellers are feeling skeptical and cautious.

All of this is coming off the heels of record-breaking increases in the housing market prices. The housing market is rapidly becoming unaffordable for many. Customer acquisition is becoming more and more tricky, especially when potential clients have plenty of options to choose from since so many realtors have entered the industry over the past few years.

Mortgage brokers and realtors can leverage these rate hikes by using Locorum to close clients. Locorum’s incentive program rewards consumers for hiring local professionals, such as realtors and mortgage brokers. Locorum helps to make buying/selling and purchasing/refinancing feel more affordable and less risky for consumers.

When consumers go to find a local professional to work with on our platform, they’ll be able to browse through verified reviews from other locals like themselves as well as see what rewards they can earn by choosing to work with you. We know that points suck and dollars don’t so those rewards are the dollar amount that they can earn for choosing to work with you! Those dollars will get loaded onto their Locorum Rewards Mastercard which they’ll be able to use in-store and online anywhere that takes Mastercard.

Not only does Locorum’s rewards program set you apart from the competition and incentivize consumers to work with you, but it also helps to increase your social proof. You’re guaranteed to receive verified reviews from customers that actually worked with you.

The great thing about listing on Locorum is that you get to set your own marketing fees. You’re in control of your acquisition costs. So not only is this giving you a leg-up on your competition, providing a simple way to incentivize consumers to buy/sell or purchase/refinance, but you can rest assured that this incentive program won’t break your budget.

Final Thoughts

While we’re navigating through these tricky times, you can have peace of mind knowing that you have Locorum in your arsenal for ways to close clients. If you have any questions, contact Locorum today! Our sales reps are excited to answer any and all of your questions.