We all know how great it was having buyers standing in line with offers turning into bidding wars as common practice, but these days it is much more challenging to accomplish a successful real estate transaction.

Today, agents must be creative and educated within all facets of the industry. Some are open to widening their view while others stay closed to the new challenges today’s market has generated. As time goes on, they will have to get on board with current strategies or they will be left behind watching as others excel in the industry.

One way in which sophisticated agents are building their reputation and customer base is by offering tips through social media. These tips should provoke thought and action as well as covering all aspects of the real estate process. Discussing credit scores, preparation for financing, property values, choosing an Attorney and negotiation strategies in the beginning of the process, displays the quality of professionalism offered, while solidifying relationships. Additionally, giving helpful insights could draw new clients and broaden referral sources.

Here are some useful tips to post on your social media with regards to credit scores:

• Before you even begin the process of shopping for a property you should buy your Fico scores at www.myfico.com to see what credit score you have.
• Ordering your own credit scores from www.myfico.com will not hurt your scores AT ALL.
• Only when third parties pull your credit score drops occur.
• Fico is the credit score banks use when reviewing the risk level of a borrower before approving mortgage financing.
• An excellent credit score is considered a 740 Fico score and above.
• Having the best credit scores can save hundreds and thousands of dollars over the life of a loan.
• The power of a higher score could be a lowered interest rate. Even a 1% lower interest rate on a $900,000 mortgage would equal a savings of $200,000 over the life of the thirty year loan. The interest rate would be 4.25% with the higher score.
• Reviewing credit early and using the right professional guidance can equal better interest rate loans and huge savings.

Feel free to tweet, share on facebook, or email any and all of these tips and follow me on Twitter @tracybecker for more credit tweets!!