Realtors: What Should You Be Doing for Homebuyers?

Written by Posted On Friday, 05 October 2018 07:27

 

As a real estate agent, you know that everything you do for your clients, they can do on their own. They can find preapproval for a home loan. They can find a home, basing their search on location, price or any other trait. They can choose an inspector, hire an attorney and even negotiate the price of the house.

However, your client has come to you for a reason: they need help. Maybe they don’t have the time to buy a house through a DIY process, or perhaps they find the process confusing and hard to navigate. Whatever the reason, they need or want your help.

As an agent, you can get by with doing a bare minimum. That said, it’s important that you earn and maintain a reputation within your community. Here are x things you should be doing for homebuyers to go above and beyond.

1. Attend the home inspection

Even alongside negotiations and closings, the home inspection is one of the most nerve-wracking events of the homebuying process for buyers. Make it easier on them: show up.

When your buyer is given the inspection report, he or she may not know what it means, or what to do with it. If you’re there for the inspection, you can further your knowledge of the findings, and can more accurately sit down and explain to your client what needs to be brought to the seller’s attention.

2. Help with the pre-approval

If your client is a first time homebuyer, there’s a good chance that buyer doesn’t know where to begin. He may come to you asking for a list of properties yet he hasn’t even begun the pre-approval process.

Some clients may come to you with a prequalification letter, thinking they’re good to go. Explain the difference between pre-approval and prequalification and help your client connect with a trusted lender who can pre-approve him.

Additionally, be prepared to speak with your client about his budget and the market in your area. He may have questions about whether he can afford a house; be honest and tell him what to expect.

3. Inform your client of options

I once spoke with a woman who’d recently been divorced due to domestic violence offenses. She’d been reliant upon her ex-husband for so long that she didn’t have noteworthy credit on her own. She was anxious to get herself and her children into a home, but didn’t feel that her credit score of financial history was up to par with lender expectations.

In this woman’s case, she was able to qualify for a USDA home loan. Your client may be eligible for a VA loan or there may even be low-cost foreclosure homes in her desired market that she can comfortably afford.

As a real estate agent, you are the expert. Your client has come to you seeking your expertise; don’t just do the bare minimum but instead establish a relationship with your client so you’ll both get the most out of the transaction.

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