The four things first-time homebuyers are trusting you to teach them
There’s nothing like buying a home – especially if it’s the first one. No matter how much you prepare your clients for the journey, there are going to be a few surprises along the way. That’s why Realtors and other real estate professionals play such an important role in helping your clients through every aspect of the process.
An industry reporter and editor for realtor.com recently encountered several lessons in her own home buying process, so just imagine what those who don’t have any idea how real estate works, feel about the homebuying journey. We thought the whole piece was great, but here are our favorite four helpful tips to pass along to your clients.
Your buyers will have to compromise.
Let’s face it. You’re up against stiff competition in the current real estate market, which means it’s not likely that you’ll end up with everything on your wishlist. Prioritize what is a must-have and be open to readjusting your list as you get an idea for what is available. You can always consider adding or fixing the shortfalls in the future.
It’s going to be a large financial commitment.
Buying a home is often a smart long-term investment, but it’s going to sting when you see most of your savings disappear. As you take some time to crunch the numbers, you’ll begin to notice all of the sacrifices being made. It won’t last forever though – just put in some work finding an amount within your means and you’ll be glad you made the decision.
The journey may be more emotional than anyone thinks.
Your home carries a lot of meaning. It’s hard not to envision the life you could have through a house showing, but what happens when another prospective buyer blows your offer out of the water? You’ll likely have to let yourself grieve a dream in addition to letting go of the house itself, maybe even more than once. Don’t let yourself give up though, the process will eventually lend itself to the right home for you.
Tell your clients to expect the unexpected.
Not to sound cliche, but it’s true. From hidden costs to hiccups in the closing process, there’s no way to know exactly what will happen. Try to keep a backup plan in mind to avoid uneasiness and always remember that you only have so much control. Once you secure your house, you’re going to have to carry that same mindset. Regular maintenance is just part of owning a home, so it’s best to budget for repairs or surprises.
A real estate transaction is an exhausting process – one filled with tough decisions through all the ups and downs, but our team is here to help you through it all, especially when it comes to title and closing. Just use your expertise and be the trusted guide. Your clients will thank you for leading them through the journey to security in their first home. As you use these tips to support homebuyers, we hope you will partner with us so that we can support you with easy and professional title services.
For more real estate news, stop by Pacific Alliance Title’s Blog.