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The process of helping your clients buy a home can be quite an adventure — especially if you’re a new agent. From knowing clients’ taste to actually getting them the house that matches it, the journey is a rollercoaster of excitement and stress.
Veteran agents probably know this. New agents, however, might find this a little bit more challenging and intriguing as well. As an agent just starting out and hoping to close more deals in 2021 and beyond, you might want to take a look at these hacks. I’d like to divide the process into two sections: idealization and realization.
The idealization stage
1. The nonnegotiable requirements
Homebuyers often have an idea of what they want in a home. It’s usually simple. Typically, they’re looking for a specific number of rooms, bathrooms, an ideal room and plot size, garage size, type of house and more.
If your clients don’t have the nonnegotiable factors marked, point it out to them, and advise them to do so.
2. Figure out the negotiable requirements
Having established the essentials, the client should create a list of love-to-haves. Even if your clients are the carefree type, there is usually some design or item they might have seen in other people’s homes or even when they turn on the TV which they desire.
These may be general features such as a study or a bar extension from the sitting room or particular features such as the flooring material, color of wall paints and so on.
You must remind the client that the more extravagant the love-to-haves are, the higher the final cost of the home. All of these factors have to be considered before setting a budget. When that budget is set, encourage your clients to stick to it.
3. Choosing the environment and style
Next, the homebuyers must define their style. While this may not seem very important at first, it will definitely help save time and resources when the home search begins. Other than that, the client will naturally have a dream style or architectural preference in mind. That’s why it’s called a “dream home.”
Having chosen a preferred style, it’s time to choose a neighborhood. Do well to advise your client about expected price range in their neighborhood of interest as well as how their chosen location will impact their access to social infrastructure and more.
Still on this stage, the client should be enlightened about the inevitability of changes and how these changes can affect their taste over time. For example, if they are newly weds, their housing needs may change when they start having kids. Again, retirement may require downsizing, and all of these have to be looked into ahead of time.
The realization stage
4. Draft a timeframe for moving
Having created the ideal home in your and your client’s mind, it’s time to hit the fields. This stage is pretty straightforward, and it starts with setting up a timeline that can be evaluated periodically to keep your clients on track.
It also affords them the necessary motivation to complete the process as well as help them get their finances ready in preparation for a huge purchase. So, create a timeframe for achieving this goal, and encourage your clients to commit to it.
5. Choose the right mortgage
The timeline requirement above helps your clients to straighten out their finances, which is necessary if they will be applying for a home loan. When it comes to loans, choosing and applying to a suitable one will increase your clients’ chances of securing it.
Now, some homebuyers know their way around mortgages. For some others, it’s going to be their first time, and they’ll rely heavily on your knowledge of mortgages. This is where you flex your knowledge, but you can always encourage them to see a loan broker for more professional guidance.
6. Get other experts involved
Although they are already working with a real estate agent (you), your clients will need a team of experts every step of the way to alleviate the stress of the process. Some clients do not know this. They will often assume you are all they need to buy their ideal home.
Do well to involve other relevant experts when necessary and with your client’s permission. Interestingly enough, it will make you look even more professional.
The point of all these tips is to help you guide your client throughout the process of buying a home. You will basically help them figure out what they want and help them find it, even if it involves getting other professionals involved in.