Younger buyers
Dale Taylor from REMAX All Properties in New Lenox (dtaylor.illinoisproperty.com) has made it his mission to get the information-age, Gen-Y, first-time buyers on the right road to responsible homeownership. And lots of times that means working with potential buyers for months or even years before an actual purchase is made because they need to get their credit in order and save enough money for a down payment.
“Many of them come in, fearing to check their credit rating,” Taylor said, “but I get them to understand that knowledge is power. If we need to put together a plan of action to get their credit rating into the acceptable range, then we can do that. And if they don’t have the minimum 3.5 percent to put down, then I tell them about the various grant programs available to help, like the Chicago bungalow program that gives money toward a down payment and closing costs if you buy a Chicago bungalow. Some communities, like Manhattan, for instance, even have municipal grant programs for prospective buyers.”
Taylor even partners with an area loan officer who is willing to counsel young buyers on how to become creditworthy and with a real estate tax attorney who counsels buyers on appealing real estate values that have not fallen with the market.
“Most of my buyers are purchasing homes at $200,000 or less and their average age is 30 or 31,” Taylor said. “They are the texting generation so I am willing to have them interact with me anyway they want to — through Facebook, Twitter, text, email or phone. And I try to give them information in a format that they are willing to receive it. For instance, emailing comparables when they show true interest in a particular house.”
“The challenge with these buyers is helping them understand you need to go beyond texting on a transaction like this,” he said. “You can’t interpret another person’s intentions through a text. You need to meet face-to-face or at least talk to them on the telephone.
Find a home at http://dtaylor.illinoisproperty.com
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