Winning the trust of first-time homebuyers
Buying a home for the first time is indeed exciting, but it is also scary and nerve-racking.
First-time homebuyers often feel overwhelmed, second-guessing themselves if they are doing the right thing purchasing their first house or condominium unit,
This is where real estate brokers come in, to serve as beacons of enlightenment for newbies to the game of home buying. Brokers are not there just to make sales–they are tasked to educate, guide and support so that aspiring homeowners are able to make a well-informed decision when taking that huge leap towards home ownership.
Here’s what first-time homebuyers expect from their property brokers.
Know your client
Brokers need to find out more about their client’s specific needs and wants.
Do they need proximity to a school? Does it matter if they are within the central business district? Do they care about living a stone’s throw from restaurants and shopping malls or is it their priority to be next to parks?
Be clear with their budget, too. Make sure that your clients have a pre-approved mortgage. Present them with realistic options–homes they can afford. Understand that the client needs to work within a budget because aside from paying for their new home, they have other expenses, too.
Show the ropes
Walk the client thoroughly through the steps of the homebuying process. This includes getting pre-approval for a mortgage, making offers, conducting home inspections, and closing.
Many first-time homebuyers are in the dark when it comes to the home buying process. As a property broker, it is your duty to educate the client so they will feel empowered as a future homeowner. At the same time, showcasing your expertise builds confidence in your client that they picked the right person to be with them in their home buying journey.
Be transparent
Brokers often highlight the benefits of buying a home and the client is most probably already aware of these.
But you also need to disclose what this entails. Let the client know the potential costs of buying a home beyond their mortgage–closing costs, property taxes, insurance, among others. Keep in mind that first-time homebuyers may not realize that there are additional expenses, so being straightforward with this information helps them prepare for further costs.
Being transparent and honest saves your client from having to deal with such surprises as well as assures them that they can place their trust in you.
Explore their options
Many are discouraged from committing to buying a home because of one fear: they cannot afford to buy one. Guarantee aspiring homeowners that there are available options for every budget which can still meet their needs and wants. Showcase affordable homes and other options.
Explain the financing options that are available to the client. Guide them so that they would understand which option would suit their situation best.
Be the champion of your client
As many first-time homebuyers are unfamiliar with contract terms and negotiations, it is your task as a broker to push for the best possible deal for them. Your expertise can save them money and stress, for which your client will be eternally grateful for.
After-sales care
Your job as a broker does not end at the signing of the deal. Let your client know that you are there for any property concerns they might have. Offer help with issues such as utilities setup, moving in or even home maintenance tips. Recommend contractors, landscapers or home service providers.
Showing your client that you are sincere in ensuring their long-term happiness with their new home will help you maintain a good relationship with them. In turn, your client will keep you in mind when it’s time for an upgrade or even refer you to other potential homebuyers.
Crucial role
Going through the process of purchasing a home with a first-time buyer requires a lot of understanding, patience and strong communication skills. First-time homebuyers ultimately wish for a smooth experience, especially since buying a home will be one of the most significant and monumental decisions of their lives.
Property brokers play a crucial role in making this major life event a special one.
