How to get your buyers ready to buy when they can’t today
Buying a home is the biggest purchase most people will make in their lifetimes. Unfortunately, many first time buyers often begin scheduling showings or visiting open houses before they are ready to buy. There are a number of ways agents can guide buyers – even if they aren’t ready to buy today.
Common reasons clients aren’t ready to buy
Finances aren’t in order
Not being financially ready is the primary reason buyers aren’t able to immediately purchase a home. Whether it is not having a preapproval letter from a lender, not having enough for the down payment, or being unable to cover closing costs, make sure to frankly discuss the financial aspects of homeownership as early as possible. Help first time buyers get their finances in order by encouraging them to check their credit scores, build their credit in other ways, and save aggressively towards a down payment.
Starting their search too early
Many first-time buyers are ready to start scheduling showings months before they are ready to put in an offer. Even if they are still saving towards a down payment or are not relocating to the area for six months or more, they may view starting the search early as a way to avoid “missing out” on their dream home. Rather than skipping showings altogether, take time to discuss their wants and needs for their first home; take them to two or three homes that are indicative of what they can get in their preferred neighborhood or at their price point, but save the serious searching for when they are ready to buy.
Buyers can’t agree
Working with first-time buyers can sometimes leave you feeling more like a couple’s counselor than a realtor. He wants to be centrally located downtown, she wants to be in the suburbs. She wants a sprawling ranch, he wants a classic colonial. He wants low maintenance, she wants a large yard. When these types of disagreements occur, discuss the pros and cons of their conflicting styles; oftentimes the best advice is to encourage them to take more time to discuss their specific wants and needs before continuing their home search.
by Author, Jan. 11, 2019