Are your buyers crying?
Updated: Sep 29, 2018
“It’s no secret that buying a home can be a complicated and even confusing process,” begins a recent housingwire.com article by Kelsey Ramirez.
She goes on to reference a survey by homes.com in which 33 percent of homebuyers “admitted to shedding tears at some point in the home-buying process.”
“Part of the reason for a sometimes overwhelming amount of stress can be a lack of proper preparation,” claims the site’s Cheria Brickhouse.
The site’s senior manager of content seems to lay this lack of preparation at the feet of the consumer. “By doing research and discussing your desires and needs with your real estate agent, you can find a home that meets your needs while also staying within your budget,” he said.
It’s not the ability to find a home or the clients’ budgets that bring them to tears; it is a lack of understanding the process and being hit by the unexpected that frustrates them. Neither of these are the consumer’s fault. If the consumer deserves any blame, it’s this:
They chose the wrong agent
Had they chosen the right agent, the 38 percent buyers surveyed that said the process took longer than expected would’ve know how long the process might take.
With the right agent, the 13 percent who felt they overpaid for the home would know better.
Sadly, 80 percent of these buyers said they lacked confidence during the purchase process and 30 percent of this group said this lack of confidence resulted in them feeling “heartbroken,” when they lost a home they bid on.
Again, whose fault is it that an inexperienced homebuyer doesn’t understand the process, is confused over market value and has no clue when it comes to bidding wars?
Be the right agent
The right agent has a system that includes a comprehensive counselling meeting with her clients before looking at even one home.
While these meetings accomplish several goals, the most important is that it ensures the client understands the process and his or her role in it. No guessing and no surprises.
Another important goal is uncovering the client’s wish list or assisting him in determining what he needs and wants and discussing whether or not the list is realistic in the current market. Again, no surprises and no disappointments.
Discuss the mortgage process, from start to finish. Explain current market conditions and how they impact homebuyers. Go through the purchase process, in plain English, step-by-step.
Explain what might go wrong during the purchase process.
Discuss their expectations, for everything from how quickly they expect you to respond to phone calls, texts and emails to whether they expect you to help them secure the services of a lender, home inspector or homeowners insurance agent.
Ensure that nothing is confusing and that nothing that that might happen will be unexpected or so frustrating that it brings them to tears.