Home buying is an ultracompetitive game. Smart buyers hire savvy real estate agents like you to guide them through the process and share insider tips to help them gain an advantage over other buyers. As we head into peak homebuying season, it’s more important than ever for prospective buyers to get a handle on their credit standing.
According to Compare Camp, 6 out of 10 Americans have a credit score above 700, which is considered “good.” But, only 1.2% of Americans have achieved the highest possible score of 850, so most buyers will have room to improve!
While some of your clients may have a general idea about credit scores, you may need to educate some of your newer or first-time clients. It’s important to explain what a credit score is, how to improve it, and the benefits that come along with a higher score – especially in a tough market. Continue reading
Throughout your career as a real estate agent, you’ve probably seen it all when it comes to how the buying process plays out for your clients. It’s true that while the steps are mostly the same for everyone, the ebbs and flows of the process can differ from client to client and home to home, especially during competitive times like these.
If you’re lucky, you’ve had families who fall in love with the very first home you showed them, made an offer, and had the offer accepted that same day. That qualifies as pure homebuying bliss.
But you’ve likely also had those scenarios where it takes a client months (or even years) to find the right place. When they finally have their dream home insight and make an offer, someone else swoops in at the last minute with a more substantial bid. Ugh!
Nevertheless, as their advocate and trusted expert, it’s your job to do anything possible to ensure that they keep the momentum to find the home they want, make competitive, well-informed bids, and score a house they can call home for the next several years.
Even during competitive buying times, you can help make that happen by coaching your client on what they need to do to be the most competitive buyer bidding. A competitive offer is an obvious choice, but there are additional steps that can increase their buying power while ensuring they are not overpaying for a home.
Here are five ways you can help keep your clients be competitive in the homebuying process: Continue reading
Buying a home for the first time can be an exciting and satisfying experience. No more paying rent, dealing with loud, obnoxious upstairs neighbors, hauling laundry to the laundromat, or waiting days for the maintenance man to fix the leaking ceiling.
But that excitement can quickly turn to frustration for your clients looking to buy their first home. Since it’s their first rodeo, they don’t understand that the home buying process is an exercise in patience, persistence, and paperwork (lots of it). As their realtor, you can help make their first home-buying experience a great one by setting realistic expectations, explaining how the process works, and encouraging them along the way.
Here are some specific ways you can help first-time homebuyers get the most out of their experience and help alleviate any stress or anxiety they may have during their home-buying journey: Continue reading
When it comes to putting money down on a new house, you should:
- See if they’ll accept Monopoly money
- Put down as much as possible
- Put down as little as possible
- Pay in doughnuts
As much as Answer A would be nice, in most cases, you will put some sum of money down when buying a new house. But the amount will vary, and every situation is different. You’re probably wondering if you will have enough money to slap down to buy the house and then finance the rest. Many people think they must have a big chunk of change for a down payment in order to even buy a home. That’s simply not true. Continue reading