4 Tips to help Home Buyers 👉 right now.
I’m getting calls from buyers that want to buy this year but they are aren’t sure if they can find something that meets their needs and budget. If you have Buyers in this situation, you can use these 4 tips to help your client find that perfect home that they didn’t even know was out there!
Tip 1 : DIY Homes
Now I’m not talking about telling your client to build a home, I’m talking about updating or remodeling a home that doesn’t look so pretty. A home that might need a little TLC. As a Realtor, you know that a home that is photogenic, or one that shows off beautiful new finishes is going to come with a premium price tag. And that price tag may push your client out of thier budget. One word of caution if you recommend this approach is to make sure the Buyers have a thorough home inspection, to help uncover any hidden items that may prove costly.
If the Buyers are willing to spend a little time updating the home before they move in, or just after - they can easily repaint, replace flooring, countertops, appliances, or even do a bathroom refresh. Replacing a whole kitchen or moving walls is a much more expensive project, but ask them to consider what it would cost to do a light remodel vs purchase a home thats already done - and you may find a sweet spot!
Tip 2 - Seek Seller Concessions
If your cash is light, a remodel may not be an option, but asking for sellers concessions should be at the top of your list. You might be able to negotiate a contract where the seller contributes funds to help pay some (or all) of the Buyers closing costs, and dont forget the interest rate buy down option, effectively lowering your clients mortage payment for the first couple years.
Tip 3 - Look for homes that are Off Market
If you have serached and just arent finding anyting on MLS, go the extra mile and look for an off-market property. You can create inventory when there is none by prospecting for homes. I’ve successfully found off-market deals for clients by calling other agents, sending mailers to homeowners, and attending local Realtor tours where agents discuss buyer needs and upcoming listings. Its a great way a Buyers agent can find deals for their clients.
Tip 4: Look at the new builds
There are some builders offering great incentives right now. These incentives could be lower interest rates, credits a the design center, or funds towards closing costs. Incentives are always changing, so scope out a few new home communities to see what is being offered. The word of caution here is to make sure that you specifically tell your Buyer’s that you need to go with them, or registers them before they go in and tour ANY new homes, its a very important protocol with most builders.
So those are my top 4 tips that you can use for Buyers that are considering buying a home right now. Drop me a note and let know what home buyer challenges you have in today’s market.