Helping a Buyer to Achieve Their Home Ownership Dream
Working with buyers in today’s market involves so much more than just sitting down to write the contract on the home they saw online. Pre-conceived notions as to what they feel they can buy and how much they have learned about buying a home by searching the Internet can be an issue.
First contact: The initial visit with the buyer sets the stage for the flow, and is very crucial. I take great care with a first visit, as it sets the tone for the transaction and the degree of trust each will bring. Many people bring a caution to the meeting, as so many stories are told of buyers being mislead and getting into trouble due to over-zealous agents.
During the first visit, we discuss the necessary issues such as pre-qualification for a loan, as this avoids wasting time and allows for a more focused search on homes within their buying range. Location, size and amenities are always factored into the conversation as well.
Home Search: Buyers have access to a lot of information on the Internet, but not all of it is current. I offer to create a search that feeds directly from the MLS so that all information is current and they get a first look at homes as soon as they are posted to the MLS.
When a home is found that suits their needs, then I prepare a Market Analysis to better evaluate the value if the home against current similar sold homes and actives.
Contract Process: With all of their paperwork in hand, we sit down to write an offer on a home. The presentation of the contract must be done clearly so as to show the qualifications of the buyer and that if we agree on terms the flow will be smooth. Inspections, contract contingencies and closing projections must all be jointly agreed to and accepted.
Closing: When all the aspects of the transaction have been followed and handled properly, the closing process should be the final formality and there should be no surprises. In Connecticut, the lawyers usually set the closing date and time to fit mutually acceptable schedules. The buyers meet with their lawyer to sign off on the note and the mortgage. The seller’s attorney shows up with the final documents and after both attorneys agree to the HUD’s, final signatures are executed, and the buyer is presented with the keys to their new home.
Keeping the Process Flowing:
Buyers should know early on that their agent’s job is not just to sell them a house, but to make sure that they buy properly but that all aspects of the transaction flow smoothly. They need to know that our job is to interpret the information and explain it so that all is understood. Once a buyer senses that you are their advocate and looking out for them, they become more comfortable. This comfort allows them to be more objective and appreciative of our suggestions as they now appreciate that we are trying to help them and not just look for a pay check.
Buying a home is a big investment, and it must be done properly. Finding an agent that will advise and protect is an essential part of the process. At the end of the deal, the smiles are warm and the handshakes convey trust, and a referral partner has been made that will pay future dividends.
Helping a Buyer to Achieve Their Home Ownership Dream
Comments(5)