Stephanie's Blog

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The First Time Buyer Hiccup

So often I work with First Time Buyers. I love these people. They are so interested in the process, they ask the right questions, and they are fun to work with. After years of working with First Time Buyers I've come to the conclusion that it's better to prepare them to be prepared to be prepared to be prepared...

Huh? What do I mean by this? Most specifically, I run into these scenarios so frequently that it should go down in the books. The buyers see a wonderful property and they haven't looked at enough to determine that this really is the best one for thtem. OR The buyers are uncomfortable with taking the next step (making an offer) because they have never done this before, and another offer comes along too quickly before they decide to make an offer. This is painful.

While balancing between not wanting to push a new buyer and being honest about these possibilities, I find myself needing to be quite blunt about it. I can't hold back, these buyers need to know the reality that, even in this market, properties are selling in under 30 days still, especially if it is a home as desirable as the one they've just fallen in love with.

So my approach to this has changed over the years to: the more the buyers know about the possibilities, their options, the various scenarios that can play out, the better informed they can be and the better the chance it is that they will not lose out when they come upon THAT home.

As their agent, it is my job to take them through this process in a way that is transparent, without hiding anything. The experiences I've had add value to what I offer as a Buyer's Agent to the First Time Buyer. It's something we all need to be assertive about because this is what we're hired for.

Comment balloon 3 commentsStephanie Jacques • September 29 2008 11:19AM

Comments

Spokane Wa Real Estate Expert Yeah I show them options and possibilities. I also let them know I will move as fast or slow as they want, but that if it's a great deal to us , it's a great deal to everyone else and the best homes on the market at a given time can go at any moment.

I teach them be slow to be sure of what you want, but be quick to move on it if you find it.

Posted by Ross Quintana, Real E Smarter Real Estate Coach - 509-362-1966 (Real E Smarter) over 9 years ago

I know exactly what you mean! My team is working with a first time home-buyer right now and let me tell you, does he have a LOT of questions! We are taking our 2nd tour of homes and boy do I hope he puts some of his fear away and takes our advice.

He hears things or thinks he knows of options (that don't exist or aren't possible) and I educate him on what is really available to him. He holds his ground and won't listen. Until he realizes on his own that he was wrong is when he puts his trust in our advice.

The questions he has are getting to be fewer and fewer and easier to diffuse, but in these times being a first-time home-buyer must be terrifying. I want to tell him/them about the different scenarios without pressuring him or scaring him away.

Thanks for sharing, Nicole Weidauer

The Egerer & Weidauer Team, Keller Williams Realty North Seattle

Posted by Nicole Weidauer (Keller Williams Greater Seattle) over 9 years ago

Sometimes the reality of what they are about to do makes them pause for a moment. It is great that you prepare them for the possibilities.

Posted by Richard Mielke, REALTOR, Gettysburg Pennsylvania Real Estate (RE/MAX Results) over 9 years ago

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