One of the trickier tasks as a real estate agent is establishing a trusting relationship with your buyers since ultimately, you work for the seller. First-time buyers can be particularly wary since they’ve no idea what to expect.
Fortunately, there are a variety of strategies that enable you to earn the buyer’s trust and put them at ease throughout the process. For instance, you can provide a road map that covers every stage of the journey. You can also encourage buyers to get preapproved and make them aware of first-time home buyer programs.
In this post, we’ll take a look at four simple tips to help first-time buyers navigate the process. Let’s get started!
1. Let Them Know What to Expect
If you’re looking to help first-time buyers prepare for the process ahead, one of the best ways is to educate prospects about what to expect. It’s easy to forget, but some buyers might not have any idea about the events that take place once their offer has been accepted.
In this instance, it’s easy for buyers to become overwhelmed with the amount of information they have to absorb in such a short space of time. Plus, many people lack the confidence to ask about such things since they feel as though it’s information they should already know.
With this in mind, you can provide buyers with checklists or road maps where they can clearly see every stage of the journey from the initial inspection to collecting the keys on the move-in date:
Better yet, you can use one of the beautiful templates at Jigglar which means you don’t need to have any technical or creative skills to achieve this.
All you have to do is customize the road map with your real estate logo and your email address. Naturally, you’re also able to swap out the content to let buyers know where you can offer extra help or refer to other services.
2. Encourage Buyers to Get Preapproved
The next way to help first-time buyers is to encourage them to get preapproved before they start looking at properties. This way, you can ensure that they’re not wasting their time looking at the wrong houses (and you’re not wasting yours).
When doing this, it’s important to emphasize how quick and easy it is to get sorted. In some cases, it only takes a few minutes, and it can be completed online with the lender of their choice.
Then, you (and your buyers) have a better understanding of the budget and loan programs they’re using. The latter is especially relevant in this instance since some loan programs require properties to meet certain criteria.
3. Highlight First-Time Home Buyer Programs
Since you primarily work for the seller, most agents don’t go the extra mile to earn the trust of buyers and make sure they’re comfortable at every step. However, it can be really useful to check in with prospects and make them aware of first-time home buyer programs (like FHA):
Of course, existing home owners are able to buy new properties by selling their own home or using equity to make a down payment. But, first-time buyers don’t have this option. So, it’s a good idea to educate your clients about the programs that have lower down payment requirements and better interest rates.
4. Share Common Pitfalls
When buying a new property, there are a ton of things that can go wrong (even for repeat buyers). However, first-time buyers are likely to be more wary and will therefore look to you to help make informed decisions.
Naturally, your clients will engage with legal professionals throughout the process, or consult a mortgage broker. But, with your expertise in the field, buyers may feel more comfortable relying on your knowledge, especially as the process gets underway and you get to know one another better.
As such, here are some ways that you can assist your clients:
- Help them decide whether the location aligns with their priorities.
- Identify any red flags that you notice in the property (like signs of damp or lack of building regulations).
- Discuss how the property compares to other homes in the area.
Additionally, you may even like to put together a buyer protection pack so that your clients better understand their obligations:
For example, you can share information about the rules of buying a home, cooling-off periods, building reports, and more. Not only can this be of great help to your current buyers, but it can also help you score more referrals.
Conclusion
Buying a house can be a daunting process, even for repeat buyers. However, as a first-time buyer, it can be particularly intimidating since there’s so much to learn. Plus, it’s likely the biggest purchase (and biggest decision) they’ll ever make.
With that in mind, here are four tips to help first-time buyers navigate the process:
- Let them know what to expect using road maps or checklists.
- Encourage buyers to get preapproved.
- Highlight first-time home buyer programs.
- Share common pitfalls.
At Jigglar, we offer a stunning range of customizable templates to improve your real estate marketing and aid your buyers (and sellers). Get started today with a free 14-day trial!
