When it comes to real estate, information is power. Without adequate information, buyers may become confused, hesitant, and even discouraged. The more your buyers know, the more confident they will feel about each step of the real estate transaction process. Here are some ways to make sure your buyers have all the data they need to make informed decisions.
1. Share online and print resources.
Have a library of helpful links and printed materials that cover a variety of subjects to share with your buyers. For example, first-time buyers may need information about navigating real estate transactions and timelines. Older homebuyers may want to know about downsizing and tax implications. Relocating clients may want information about schools and area amenities. Ask if any real estate topics are of particular interest to your buyers and provide related resources.
2. Help them understand comparables.
We often think of comparables as information that sellers need to help set the listing price of properties. This information can also help buyers learn about the market and resale values of properties they may be considering. Comparable statistics can also help them calculate offers, evaluate counteroffers, and recognize potentially advantageous opportunities.
3. Suggest mortgage pre-approval.
Buyers who go through the mortgage pre-approval process will have a more accurate and realistic assessment of what they can afford, which can be empowering. They may also have an advantage over other buyers in multiple offer scenarios.
4. Encourage them to ask questions.
From the start, make it clear to clients that you welcome their questions along the way. Urge them to speak up anytime they need information or clarification, and always respond to such requests as quickly as possible.
5. Help estimate utility, property tax, and maintenance costs.
When buyers consider properties, help them gather utility and property tax history to project future costs. It can also be empowering to help them compare maintenance costs of homes they are considering for budgeting purposes.
6. Home inspection
Buyers who opt for a professional home inspection receive valuable information from a third-party provider about the condition of a property’s structure, systems, and appliances. Home inspection reports can also help buyers become familiar with a home’s features and maintenance needs.
7. Include home warranty coverage.
HSA home warranties empower buyers by giving them a sound strategy for dealing with the unexpected home system and appliance component breakdowns that are an inevitable part of homeownership. The budget protection provided by HSA home warranties can give buyers the confidence to proceed with transactions and can help promote buyer satisfaction. Your clients will also know they have a reliable repair resource for covered malfunctions, which can save them time and frustration.
Knowing they can depend on your real estate experience and knowledge can also help empower buyers. Let clients know that you’re on their team and will work diligently on their behalf from showings to closing.