Over the past couple of weeks, I've had the pleasure to sit down with several first-time homebuyers. As a real estate professional, I believe part of my job is to help these folks with their decision by providing them the information they need to make the right decisions for themselves. Sometimes, that decision is to wait. Other times, it is about how much to spend. The important thing for me to remember is that it is all about them, not about me.
There seems to be a big difference between the first-timers of today and those we saw on the market 2-3 years ago. The buyers I talked to are very aware of the market, the pitfalls of buying beyond their ability to pay, and they are willing to buy what they need now and for the foreseeable future, rather than go for the whole package at once. They are also more cautious and they ask a LOT of questions.
To be honest, I like these new homebuyers. As a group, they are knowledgeable, sensible, and, most important to me, they are willing to listen to a real estate professional and ask for information when they don't understand something.
For those who are working with new-home buyers, patience is a virtue. So is looking at the long-term plans for your clients. Don't be afraid to ask the personal question about potential life changes such as whether they will start a family, whether one of them will stay home when that happens, and how long they anticipate being in the area. Too, it is worth talking to them a little about building a safety net for themselves so that they have money in the bank on which to fall back should their employment situations change or emergencies arise. I try hard to make sure my first-time homebuyers are my clients for life, and they appreciate my willingness to go the extra mile to help them through a very challenging and life-changing decision. It is worth every extra minute to help them realize their dreams and I know they appreciate the service I provide.
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