Working with First-Time Buyers

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It’s really exciting being a buyer’s agent for first-time home buyers and helping them become home owners. A prepared agent helps things go smoothly and makes happy clients.

EXPLAIN EVERYTHING

The first step should always be to meet with the buyers at your office. This initial consultation sets the tone for the entire transaction, so use this meeting as an opportunity to showcase your expertise and put them at ease. Prepare a ReeceNichols buyer’s booklet for them to review. Take your time, and go over the entire process. Explain to them what writing a contract looks like, how earnest money works, what the inspection period and appraisals are like and more.

SET EXPECTATIONS

Oftentimes, the only experience first-time buyers have with purchasing a home is through TV shows that make the home buying process look so easy. Make sure to explain to them the details of how the inspection will go and reiterate that we are on the same team. We have found that the inspection can be one of the most shocking parts of the buying process, so include a sample inspection report for them to see. First-time buyers often do not realize how many issues are found during the inspection process. By showing them a report now, it will take away the shock when they see one for the home they purchase.

GET PRE-APPROVED

Have them get pre-approved by the HomeServices Lending officer connected with your office.  If they have already been approved, let them know your lender will give them a $100 gift card for getting a second opinion. Once they have been approved and the buyer decides which price range they want to search in, set them up on the ReeceNichols Home Match program.

OUTLINE NEXT STEPS

Always finish the consultation with another appointment scheduled, such as, “Talk with my lender, and we will plan on meeting at 10 a.m. on Saturday to look at homes.”

By following these steps at your first meeting, you will help your first-time buyers know what to expect throughout the process and reinforce your market knowledge and experience.


Written by Mike Potchad
Managing Broker
ReeceNichols Real Estate, Cedar Tree Square