I never was in the military, I have to admit it but I have had past armed forces people work for me in corporate life. They are methodical, follow the
Buyer Preparedness – It is Like the Military
procedures and tend not to waive too far left or right on decision making but use good tactical thinking. Armed Forces being ready should equal buyer preparedness.
When dealing with Rhode Island real estate and the necessary qualifications for buyer preparedness, the military has some similarities especially with the lenders. And I bring this up because so many home buyers are coming into my Open Houses every Sunday very unprepared to buy a home. It is a fact and it is not a fault of theirs. They have no idea how to proceed as a buyer and never had anyone to guide them. Realize that the biggest part of buyer preparedness is being pre-qualified by a lender!
Buyers please do not use those on line calculators to gauge your ability to pay for a home…these on line calculators are so lacking.
They do not include PMI (private mortgage insurance) you may need, the amount of real estate taxes for the community you want to buy into or flood insurance (if needed), etc. Please above all else go and make an appointment with a mortgage originator at your local credit union or small bank. Find out what you can AFFORD in monthly payments to buy a home and do all this before you start looking for a home! Then call me and I will guide you well in a home purchase (psst! My services do not cost you anything but time- remember!). So you see it is buyer preparedness – and it is like the Armed Forces.
My goal is to work with qualified buyers and truly find them what they want, in the neighborhood that suits them as well as it being an affordable home within their budget. Yes, being prepared makes the whole difference in buying your Rhode Island real estate home.
Search for Rhode Island homes for sale by town here.
When you are ready to find the right North Kingstown neighborhood and home for sale, contact a North Kingstown real estate agent. I’d love the opportunity to help. Phone me today at (401) 529-7849, or email me at RiByTheBay@gmail.com to schedule an appointment. Buyer Preparedness – Like the Armed Forces.
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Ginny Lacey Gorman is a North Kingstown Realtor who works and knows the North Kingstown RI geographic area of homes for sale, schools, happenings, important tidbits of information and businesses well. Waterfront, water view, ocean front, luxury and coastal Rhode Island real estate are her specialty. If your considering Buying, Selling or Relocating to Rhode Island and need a real estate Professional it would be my pleasure to help you! When you are in need of an internet savvy RI realtor® who sells homes in this real estate market, call Ginny today at 401.529.7849
This blog © and its contents is original to Ginny Lacey Gorman
Ginny L. Gorman a purveyor of Fine Waterfront RI Real Estate
Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich, Westerly RI and beyond ... I sell dreams! because there is no place like home...the RI Realtor in the Sparkly Red Shoes.
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53 Comments on Buyer Preparedness – Like the Armed Forces
Ginny, the drill Sargent!
You are dead on with teaching kids how to handle money in high school. I remember HAVING to take a semester in bookkeeping in the 9th grade. At the time I thought it was a bunch of bull learning how to balance a checkbook and financing a small business - boy was I wrong!
Hopefully the kids living thru these tougher times will come out on the other end better money managers.
Ginny- Great post and spot on. Many people don't understand that financing has many variables and an online calculator doesn't paint the real picture.
With a Military ppst next to us, and me being stationed there at one time, 90% of my Clients are Militarty. And you're right. MOST are VERY well prepared, and I even learned some stuff from them when I was new ("How'd you find THAT out?").
SOMETIMES, if they think they know EVERYTHING, it's a problem. MOST of the time, it actually makes my job easier!!
Be prepared and get qualified..
Mortgage qualification is primary, I agree. I am still surprised at how many buyers come to us without having been pre-qualified. The process is so fast and reasonably effortless. We will do one mini-tour without a pre-qual and wait until after for subsequent tours.
We, as agents, need to teach our buyers how to be prepared. The military is not "born" prepared, it is something that is taught over months, years & decades. As a military wife, I know there is a constant training that takes place to help our military be the best in the world. We, as realtors, need to teach our buyers to be the best in the market.
Thanks for the post and a great analogy.
I wish that consumers would realize that the Internet is a tool only, and not a solid resource.
Education and being prepared is not only for 1st time buyers but all buyers. Many things have changed over the years and if you bought a home before doesn't mean process will be the same.
Anyone ever thought about starting a "BUYER BOOTCAMP"?
Seeing your title made me want to read this blog because I live and work in an area with two full on naval bases, a national guard camp and near a submarine base. These buyers are the best becasue they are used to following orders and understand the need for rules.
Ginny - I definitely agree with your #27 comment. Financial management should be something taught in schools. Learning to handle money is such a vital part of being successful in life - and yet even kids who have taken advanced math classes emerge from school unable to do something as simple as balance a checkbook.
Thanks all perhaps we should all do a free mentoring session for kids in school about finances & also not believing everything that is on the web as gospel!
Hi Ginny, on line calculators and Zillow go hand in hand! lol
I guess you will have to give them some buyer boot camp. Educating buyers is the biggest part of my job.
Hi Ginny, I had a conversation on this topic this evening! Great topic to share with buyers!
Ginny
Well said. Preparedness is so important in this competitive market - there are so many issues that can arise and those buyers who are not THOROUGHLY prepared, and working with a strong knowledgeable agent such as yourself, will not be successful. Education, counseling, and helping buyers through the problem solving process is a key part of our job, but there is only so much we can do if someone is not truly prepared.
Jeff
In this current market of low inventory, if your buyer is not completely prepared, approved, and ready to write, he will be left behind.
Hi Ginny,
Congrats on the feature! This is a really great post, and you've made some excellent points. I definitely think we should start teaching kids about this stuff and finances in school, and I completely agree that people have come to put too much faith on what they read online. Again, great blog. Keep up the good work as a top North Kingstown short sale agent!