Working with first time buyers is a passion of mine. The challenge is getting the first time buyers to talk with you. Once I do get a chance to talk with them I believe the education is the most important thing I can offer at the beginning. Most folks just don't know what they are doing.
I feel my first step is to educate. I like to sit down and talk about The steps in the home buying process.
I start with have they looked into financing. depending of the answer we talk about current first time buyer options. I always have them contact a lender to explore what they can borrow, as well as what they want to afford. We then talk about what they want, home style. their lifestyle, work, other factors of their current situation. I ask about long term goals. I talk with them about why home ownership may not be a good idea in some circumstances( leaving area in X number of years or months job security......) Maybe not the best for a quick sale but it helps me sleep. Then we talk about the process, offer, earnest money, counters, inspection, notices, appraisal, loan, insurance and other things such as HOA fees and restrictions..... Again this can scare some folks but again they need to be knowlegeable and comfortable with their experience to be pleased at the end.
If we make an offer I remind them this is only the beginning, we may not get it the inspection may reveal problems. Don't get too emotionally attached.
I continue to provide service throughout the process.
Prepare them for closing, go over numbers in advance tell them about the process
Main thing be patient.
If nothing else, this has helped to remind me to be extra attentive to first time buyers.
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