subject: Preparing A First-time Home Buyer [print this page] First-time home buyers or those who seek to find their precious first homes make up the biggest slice of the real estate market. As such, first-time home buyers make for good prospective clients. How to convince first-time home buyers about acquiring a property? Take a cue from the following tips:
Tip #1: Help him envision his dream house. A lot of couples starting out do not think they can actually afford a home of their own. That's why, settling for a home rental is almost always the best alternative they see. What your clients, prospective first-time home buyers, must understand is that acquiring a home is possible even for a limited monthly income. Once you are able to convince your client that he can afford a home, it is time that you help him sketch out a realistic dream house. Acquiring a home of his own is a dream in itself so it would not be bad to start out with what fits into his budget and paying capabilities.
Tip #2: Find a couple of options where he can take his choice. It helps that you are able to present not just one property for sale to your client, especially if he is a first-time home buyer. Remember that he would be looking out for the most suitable choice. Think about location, size, and of course, the price. You must be able to offer different choices with those factors in mind to inspire your prospective client to actually pinpoint what he wants with this property acquisition.
Tip #3: Talk him through his options, the property details, and even the payment scheme. A good real estate agent is one who is able to offer valuable knowledge to his clients. You must not only be an informant of homes for sale but also of other things connected to the possibility of a purchase. A first-time home buyer would appreciate it if you will be able to introduce him to the world of real estate, especially his options for acquiring a good deal at any given time. You know the market very well and you know exactly how it works. It would be helpful closing a deal if you use that advantage into good use by being downright honest with your client.
Tip #4: Help him assess his credit score. Your client's current credit will speak of his ability to pay. You need to ensure that he has a clean record to secure the best mortgage deal. Also, make your client understand what role his credit score would play in a home purchase. It is important that he knows what being a responsible payer makes of a financial transaction.
Tip #5: Make an offer he can't resist. Now, this is your opportunity to earn. Since you know your client's needs, you could easily measure what will actually convince him to make the purchase. Being a good real estate agent means being a good sales representative. Based on your prospective client's buying power, offer him a good, affordable deal that he would be stupid to resist.
