Relationship Selling 101

By
Real Estate Agent with HomeSmart Realty West & Geneva Financial, Llc. CA 01938972,CA-DBO1483386

 

 

Young first time home shoppers, Jan and Keith texted me over the weekend to embark on their first ever home buying expedition. Being the ‘babes-in-the-woods’ that they were, we asked if they would have some time to sit down with us to discuss their vision of their first home and allow us to bring that vision closer to reality.

 

The goal of a first meeting with prospects is to not only determine the needs and wants, but also help our clients with the decades of experience by putting the most effective tools in their hands to make their dreams become a reality.

 

One of the most important items we discuss is their credit worthiness and ability to secure the mortgage funding that will be needed. We find many first time home buyers are buying for a multitude of valid reasons and often, the timing is not perfect. By that I mean, many buyers are ill-prepared with inadequate down-payment, or closing funds, and as a result, will be forced to seek funding from government insured sources like Fannie Mae, Freddie Mac, or from the government through Ginnie Mae, or even in select cases, USDA, or VA guaranteed funding.

 

When dealing with non-conventional funding, there are often benefits, but also, there are higher costs over the life of the loan. Sure the FICO score threshold necessary for loan qualification is lower with these funding sources as a general rule, but when the borrower(s) lack the necessary down-payment, and place the minimum down (less than 20% of the purchase price), there is Mortgage Insurance (MI) involved that will add to the overall loan cost by increasing the monthly payment and in so doing, reduce how much may be borrowed. That’s right folks! The government ‘giveth and taketh away’!

 

So how do we move forward?

 

We like to interview our prospects to determine if they are aware of the responsibility they are planning to assume and if they are prepared for the ‘bumps in the road’ that are sure to be encountered at least over the first 5-7 years. Job loss, relocation, etc. are first considerations, then when we find the ‘picture-perfect home’ and the home inspection has revealed, for example, that the roof, although not needing repair, has only 5 years anticipated life left. Are these buyers going to be capable of dealing with this issue?

 

You see; as our clients’ agents, we partner with them to try to paint the most realistic picture of what to expect and anticipate. It gives us comfort in knowing that we will not be setting the stage for a failed marriage, and homelessness  and in some cases, we do recommend a delay in the home search process to allow our prospects to better prepare for their future as homeowners.

 

We don’t just want to sell a house; we want to help our clients buy a HOME!

 

 

 

Save

Posted by

Sandy Padula & Norm Padula, J.D., GRI
CA DRE# 00902455 &  CA DRE#01938972, FL Bkr# 3090255 & NMLS#1483386

Home Smart Realty West

Geneva Financial, Llc.

760.985.2055  Sandy
858.444.7060 & Norm

SDLuxHomes.com

PRESENCE ~ PERSISTENCE ~ PERSEVERANCE

 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Tags:
carlsbad condos for sale
carlsbad real estate agents
encinitas real estate agents
carlsbad luxury single family homes for sale
carlsbad single family pool homes for sale
vista california 4 bedroom homes for sale

Spam prevention
Show All Comments
Ambassador
1,345,922
Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-755-2905

p.s. I agree with Ron and Alexandra Seigel this should have been featured!

Jul 29, 2016 12:09 AM #68
Rainmaker
1,566,988
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

You are too kind, Gayle Rich-Boxman Fishhawk Lake Realtor (503)755-2905 . We bet you are enjoying The Lake right now!

Jul 29, 2016 12:55 AM #69
Rainmaker
881,994
Elyse Berman, PA
Best Connections Realty, Inc. - Boca Raton, FL
Boca Raton FL (561) 716-7824 CRS, ABR, GRI,ePR

Sandy Padula and Norm Padula, JD, GRI NMLS#1483386 There is a lot that goes into working with first-time homebuyers.  Your post illustrates that.  I agree, it should have been featured.

Jul 30, 2016 11:39 PM #70
Rainmaker
1,566,988
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Thank you, Elyse Berman !

Jul 31, 2016 12:14 AM #71
Rainmaker
1,675,429
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Sandy Padula and Norm Padula, JD, GRI NMLS#1483386 ,  Very good bog!  That's the way everyone should treat their clients. We try to form a ifetime relationship with our clients so they will not regret buying their home.  It should be an exciting and positive memory.

Jul 31, 2016 05:18 AM #72
Rainmaker
1,566,988
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Right you are, Larry Johnston !

Jul 31, 2016 10:24 PM #73
Rainmaker
2,096,177
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

I really, really like this post and I know I'm not the only one because I was the 22nd person to click Like!

It's great and so are you! I hope you get featured!

Aug 03, 2016 01:04 AM #74
Rainmaker
1,566,988
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Patricia Feager You are so nice to compliment us as you did; Thank you!

Aug 03, 2016 05:04 AM #75
Rainmaker
597,444
Pamela Cendejas
Second Self Virtual Assistance - Kingman, AZ
Second Self Virtual Assistance (928) 692-3235

Great article.  Your interest and consideration of your clients is wonderful. 

"We don’t just want to sell a house; we want to help our clients buy a HOME!"

Love that.

Aug 04, 2016 04:34 AM #76
Rainmaker
1,566,988
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Thank you, Pamela Cendejas !

Aug 04, 2016 06:03 AM #77
Rainmaker
765,088
Kimo Stowell
HI Pro Realty LLC RB-21531 - Honolulu, HI
REALTOR Associate® RS-76763 - Honolulu Hawai'i

Aloha SnN, superlative pointers for first timers, it's all about the relationship building and trust.

Aug 05, 2016 01:16 PM #78
Rainmaker
1,566,988
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Thanks, Kimo Stowell All the best to you for a productive weekend!

Aug 05, 2016 10:50 PM #79
Ambassador
2,908,969
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

The best kind of clients are those who are willing to have that sit down and listen to the process being explained.  Good for you and GOOD for them

Aug 10, 2016 06:06 AM #80
Rainmaker
1,566,988
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Thanks, Tammy Lankford, Re-read your post and captured your message.

Aug 10, 2016 11:27 PM #81
Rainmaker
3,259,684
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Sandy & Norm how did I miss this awesome post, what I would like to know where did you guys take the picture of the Donkey pulling the cart? Endre

Aug 13, 2016 02:01 PM #82
Rainmaker
1,566,988
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Endre Barath, Jr. Perhaps it might have been East L.A.? Thanks!

Aug 14, 2016 12:44 AM #83
Rainmaker
1,502,613
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

One of my favorite quotes: preparation is the key to success. Well prepared and educated client is a happy client:) 

Aug 20, 2016 03:42 AM #84
Rainmaker
1,566,988
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Inna Ivchenko I know the happy clients are the ones you work with. Thanks!

Aug 20, 2016 05:02 AM #85
Rainmaker
166,642
Lee Davenport
Sandy Springs, GA
Learn With Lee: Real Estate Coaching & Consulting

Kudos, Sandy and Norm, on recognizing it's not about herding people into real estate transactions but helping people make a home!

Aug 23, 2016 12:32 AM #86
Rainmaker
1,566,988
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Thank you, Lee Davenport Hope you have a wonderful day!

Aug 23, 2016 12:41 AM #87
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
1,566,988

Sandy Padula and Norm Padula, JD, GRI

Presence, Persistence & Perseverance
I'm here to answer your questions!
*
*
*
*
Spam prevention

Additional Information