In many markets throughout the country, low inventory is becoming a buyer’s worst nightmare. After hours and hours of looking to find buyers the perfect home, or the ONE, it is disappointing to find out you’ve been beaten by five or ten other offers. This story often repeats itself over and over, ultimately leaving your buyers upset with the market, the process, and many times, you.
Create a Vision Board
Take the time to suggest a vision board for your clients. Examples might include photos, notes or specific features. As they look at different listings, they can compare their vision with what is on the board.
The board also helps the realtor. Allowing them to keep in mind what their client is looking for.
Stress the Value of Improvements
If the clients budget doesn’t align with their wants and needs, stress the value of buying lower and making some improvements on their own.
This not only gives them something to take pride in, but can also help them financially down the road.
Be Upfront About All Expenses
Make an effort to present a clear picture of all the expenses a home buyer has after purchasing a home.
Explain the average utilities on that home and the cost of maintenance. Having this information presented shows that you care about your clients and are not just in it for your own benefit.
Remember real estate is based a lot on referrals and repeated business.
Encourage Pre-Approval
Take the time to work with your buyers, particularly first-timers, to get them pre-approved for a mortgage.
Make sure they understand closing costs and how much of a down payment they’ll need for the price range they’re shopping in.
Prepare for Contingencies
In almost every home purchase, the home inspection will turn up something or several things that need to be fixed.
Prepare your buyers so that they know the inspection is there to cover them.
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