Real Estate June 18, 2024

Credit Repair & How Agents Can Generate More Business!

Credit Repair Tips for Realtors: An Expert Guide


In the competitive real estate market of Cleveland, understanding credit repair can be a game-changer for Realtors and their clients. Today, we have Mike Ferrante from Century 21 HomeStar and the 21 Mike Team discussing this crucial topic with Attorney Bob Willis, a credit repair expert from Credit Repair Resources (CRR).

Introduction to Credit Repair

Mike Ferrante opens the discussion by emphasizing the importance of credit repair in real estate. He highlights how a good credit score can significantly impact a client’s ability to secure favorable mortgage terms and overall financial well-being.

Meet Bob Willis

Bob Willis, an attorney and CEO of Credit Repair Resources, brings over 28 years of experience to the table. His unique background in litigation against debt collectors and credit bureaus has equipped him with the knowledge to help consumers improve their credit profiles through a meticulous auditing system.

The Real Impact of Credit Scores

Bob explains that credit scores are like a financial resume. They affect not only loan approvals but also job prospects, auto insurance rates, and homeowners insurance. For instance, a person with poor credit might pay $900 more annually for homeowners insurance compared to someone with good credit.

Understanding Credit Scores

Bob breaks down the different credit score ranges and their implications:

  • 580 and below: Typically considered poor credit, limiting loan options.
  • 640: Often a threshold for FHA loans.
  • 700 and above: Opens up more loan options and better interest rates.
  • 760 and above: Allows consumers to essentially “write their own check” in terms of borrowing power.

The Process of Credit Repair

Unlike the dubious services advertised on late-night TV, CRR follows a rigorous, compliant process. Bob explains that CRR conducts a free review of a client’s credit report before taking any fees. They only accept clients they believe they can help.

The Importance of Positive Trade Lines

Bob emphasizes the need for a diverse credit mix. For example, having only student loans on your credit report is not enough. Adding other types of credit can improve your score.

How Realtors Can Benefit

Tony Geraci, Broker/Owner of Century 21 HomeStar, highlights the importance of having reliable credit repair resources for clients. He points out that maintaining regular follow-ups with clients working on their credit can keep them engaged and ready to buy once their credit improves.

Partnering with Credit Repair Resources

Mike Ferrante shares how partnering with CRR has helped his clients and improved their chances of securing favorable loan terms. He recounts his personal experience where CRR helped remove derogatory items from his credit report, boosting his score and securing a better mortgage rate.

How to Make Referrals

Bob suggests the best way to refer clients to CRR is through a warm email introduction, which ensures that the client gets immediate attention. CRR also provides report cards every 45 days to keep both the client and the referring Realtor updated on the progress.

Final Thoughts

Bob encourages Realtors to use credit repair as a tool to build customer loyalty. By helping clients improve their credit, Realtors can establish lasting relationships and become a trusted advisor beyond just buying or selling a home.


Improving a client’s credit score can significantly enhance their ability to secure better loan terms and overall financial stability. Realtors can benefit greatly by incorporating credit repair into their services, thereby increasing their value to clients and building stronger, long-term relationships.

By understanding and leveraging credit repair, Realtors can not only help their clients achieve their dream of homeownership but also differentiate themselves in a competitive market.

Contact Information

For those interested in learning more or referring clients, Bob provides the following contact details:


Thank you to Attorney Bob Willis for joining Mike in this discussion!



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