I can still remember my first real estate transaction. I was fresh from getting my license and a dear friend was ready to sell her condo in Lorton, Virginia. I was scared that I wouldn't be able to answer all of her questions but was pleased when I was able to answer most of them and get back her the next day on a few questions I wanted to run by my broker first before responding.
Now that I am no longer a newbie I am still pleasantly surprised when information our team considers so commonplace that everyone (not just those of us in the real estate industry) should know is in fact new information to a home buyer or seller.
Our most recent experience occured today when my fellow agent/partner was on the phone with an out of town buyer who had called us to tell us that due to how his new job bonus was being paid out that he would have to rent now instead of being able to purchase a home. My partner wisely asked a few more questions and learned that the buyer thought he had to put a minimum of 20% down to get any kind of loan. When he explained to the buyer that there were several loan programs out there and most of them required a lot less, he could “feel the buyer’s smile” through the phone as the buyer really wanted to purchase versus rent. The buyer immediately called our recommended loan officer and left the conversation encouraged that he and his wife really would be able to buy a home when they move to northern Virginia from the west coast.
Agents: Let’s don’t assume anything and get out in the world and be the subject matter experts (SMEs) we all are!
Buyers: Contact a local agent today. We all have recommendations on reputable lenders!
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