Tips for Dealing with First Time Home Buyers

Helping first-time homebuyers find the house of their dreams is much different than helping a seasoned homebuyer with their search. People that are purchasing their first home typically have a different set of questions and requests that may vary significantly from those who have been around the block a few times. First-time homeowners can significantly grow your reputation as a real estate agent, as their recommendations on a job well done can bring in new business for years to come. Find out how to communicate effectively with first-time homebuyers and where to find these prospective customers seeking new homes.

How to find first-timers.

Making up the largest group of people that purchase homes, more than 30% of individuals looking to buy a house are doing so for the first time in their lives. With so many folks looking to buy their first home out there, it is vital to devise a strategy that will help bring in these types of buyers. Many people looking to purchase a home for the first-time are young professionals, fresh out of college, or recently married. Use this information to your advantage by looking for potential customers at apartment complexes, college campuses, social media, and wedding expos. It’s also a good idea to mention that you love first-time homebuyers in your email newsletters.

Yes, they’re rookies.

Since the individuals that you will be dealing with have no experience in the world of real estate, you will likely have many questions thrown your way. The key to successfully handling first-time home buyers is to be patient and answer all of their inquiries truthfully. While they may seem eager and aggressive, just remember that these people are making a decision that will impact the rest of their lives. Take every question they ask seriously and offer a response that will help ease their woes.

Family matters.

Some people may opt to bring their parents along for the journey, which can provide an equally annoying barrage of questions. Parents have a unique knack for finding every minor problem in a home, which is why dealing with their questions and concerns can be a bit overwhelming. Try to get these inquisitive parents in on the conversation by thanking them for their advice and educating them on the local real estate market.

Help guide them in the right direction.

For first-time homebuyers that have absolutely no clue in the kind of home they wish to purchase, a questionnaire may be helpful in narrowing down their search. Find out what these clients are looking for in a new home (number of bedrooms, backyard space, etc.) and provide options that suit these parameters. A little background work can go a long way in cutting down time spent seeking inadequate residencies. If your clients are having a hard time choosing, it’s helpful to gently refer back to the questionnaire and remind them of what they initially said was most important to them in a home. Even when you deal with clients who are purchasing for investment reasons, try to point them in the direction of a good property management company.

Whether it’s dealing with dozens of questions, indecision, or pesky parents, it’s important to communicate effectively and honestly with first-time homebuyers. Remember that real estate is built on growing strong relationships with homeowners, so make the proper considerations when handling these types of customers. With some proper planning and a whole lot of patience, your work spent with new homeowners can sprout fruitful relationships filled with happy families and future referrals.

Elite Realty is one of the leading real estate brokers in Las Vegas helping realtors experience personal growth and development since 1991. If you’re interested in joining a community of likeminded, motivated agents at a brokerage that puts its agents first, please give us a call at 702.835.5255