How to ease the minds of first-time home Buyers
Buying a home can be a worrying, anxiety-filled experience, especially for people buying their first home. With affordability a constant obstacle for Buyers, it’s important to think about your process and approach to helping your clients buy the right home. Often, that starts by putting their minds at ease. Use these tips to help boost confidence in your professional skills and ultimately increase sales.
1. Get them over the mental hump
In the past, home ownership was a rite of passage. Now, it’s much more challenging for first-time home Buyers to find a home they love that’s also within their price range. In fact, nearly two-thirds of millennials regret buying a house. Why?
Some Buyers don’t know what to expect as they enter the home-buying process. Others go beyond their means in an effort to pursue a dream they can’t yet afford. Still others rely on helpful but flawed information.
The common thread that ties these obstacles together is education. As a real estate professional, you can teach your clients what to expect throughout the process. You can help them understand the additional costs of home ownership, such as maintenance costs, and how to prepare for them.
By helping your clients understand what they should do throughout the process of buying a home, you can relieve some of the anxiety that inherently comes with not knowing what will happen next. Injecting a sense of calm in what can be a chaotic decision is valuable to first-time Buyers.
2. Be the connector
There are dozens of people ultimately connected to a home sale. Knowing who the important players are in the transaction and being able to refer experts that your Buyers can trust can go a long way in reassuring them that they’re in good hands.
So, consider providing them with a printed contact list of your recommended vendors. Some vendors you may recommend include the following:
- Home inspector
- Mortgage lender
- Home appraiser
- Home Warranty Service Agreement provider
When you show your clients that you’re committed to happy home ownership—even after the sale—it provides extra reassurance. That reassurance can lead to more referrals and partnerships for you.
3. Inform them about future costs
One common mistake first-time home Buyers make is thinking that the down payment and monthly mortgage are the end of their worries. You know that’s not the case, but many first timers don’t.
This misconception is common but easily avoidable. As a professional, your knowledge of the neighborhood, the kinds of issues similar homes may have, and network of professional partners give you a wealth of information to share with your Buyers.
From property insurance, homeowners association dues, taxes, maintenance, and utility bills, you can help prepare your Buyers for their futures. The more a potential Buyer knows about the process of buying and owning a home, the less likely it is that a conflict will arise later.
4. Give your Buyers a head start with a Home Warranty Service Agreement
The current feeling among many Buyers is “What’ll go wrong next?” Many face numerous offer rejections, settling for something less than what they love, and the burden of maintenance and other costs.
One way to remove a costly burden for first-time Buyers is with a Home Warranty Service Agreement from 2-10 Home Buyers Warranty (2-10 HBW).
Buying a house is one thing. Making sure that house is a comfortable home is completely different. And when important items around the home break down—like the A/C, heater, or fridge—it can cost your clients a small fortune they may not have.
With a Home Warranty Service Agreement from 2-10 HBW, you can help your Buyers protect their budgets when they need it most. That can go a long way in showing how committed you are to the best possible home ownership experience for them, even after the sale.
2-10 HBW offers comprehensive systems and appliances home warranties to help protect your clients from unexpected repair and replacement costs. Contact us to learn more.