First-time home buyers are new to the real estate experience. They have no previous experience or knowledge about looking for a house and the closing process, so buying a house can seem daunting. They will rely on you heavily and expect you to guide them through the process and answer any and all the questions they have.
Here are three main things to best prepare your first-time clients to buy a house seamlessly:
Be prepared to act quickly
Trends in real estate are unpredictable. A house that might not be worth much can rise in value because a clientele’s aesthetics are constantly shifting. Economic trends can also affect house prices and dictate whether your client needs to take out a larger (or even smaller) mortgage. So, you need to make sure that you act proactively, especially in the unpredictable real estate market. Keep yourself up-to-date with bidding wars and be available so that your client can buy the home they truly desire.
Be systematic in your approach
Because first-time buyers are unfamiliar with the buying process, they are more prone to being succumbed by emotion and acting on gut feeling instead of logic. This means that you need to become the voice of reason in the relationship between you and your client. Take time to research local market trends and make sure your client’s finances are in order all while catering to your client’s needs and taste. This will allow you both to come to an agreeable situation and allow your client to put their money in the right investment.
Communicate clearly with your agent
Communication is always key. Clear communication establishes trust and honesty during the buying process, and also helps demystify any confusion your client may have. The real estate process is overwhelming at times and you want to make sure that your client doesn’t get lost in the confusion and end up making uninformed decisions that cost them. Be truthful with your client. Explain each process, what it entails, and how this affects their home buying. This makes the process smooth for both of you and leaves you both satisfied with the process.
There are many components to the real estate process and first-time buyers may not know what home buying entails from a simple Google search. So, make sure to prepare them for every little detail involved and guide them towards the home of their dreams.
Additionally, provide them with a copy of our Real Estate Transaction Checklist to help them feel like they are a part of the experience and informed along the way!