Listing Bits Episode 55: Getting People in Homes with Down Payment Assistance – with Rob Chrane

According to research conducted by Freddie Mac, there are 83 million mortgage-ready renters in the US! But most grossly overestimate how much they need for a down payment and very few know about the low down payment programs available to low and moderate-income home buyers. How much could a real estate business grow simply by making down payment assistance part of its business development strategy? Rob Chrane is the CEO of Down Payment Resource, a platform that aggregates down payment assistance program data and connects homebuyers with down payment assistance. Rob has more than 30 years of experience as a top-producing Realtor and mortgage broker, and he has been recognized as a HousingWire Vanguard for his leadership in the housing economy.   On this episode of Listing Bits, Rob discusses who down payment assistance is designed to help and why some agents and lenders are reluctant to incorporate these programs into their workflow. We also discuss the evolution of Proptech as well as the pros and cons of the fractional ownership model. Listen in for insight around how Down Payment Resource shares its data with MLSs, lending companies, and individual agents and LOs—and learn about the massive opportunity available to real estate players with access to down payment assistance tools.   What's Discussed:  How Rob connects homebuyers with down payment assistance What inspired Rob to create Down Payment Resource Who down payment assistance programs are designed to help Why agents and lenders are reluctant to use these programs How Down Payment Resource gets its data to industry players MLSs and Associations Enterprise solutions for lenders Down Payment Connect (individual agents, LOs) How Down Payment Resource makes money via a subscription model How Rob thinks about the Proptech fractional ownership model How DPR's data shows up for MLS clients vs. individual agents   Resources: Urban Land Institute Freddie Mac Housing & Economic Research Cloud CMA MGIC Divvy Shelley Specchio   Connect with Rob:  Down Payment Resource Down Payment Connect