Have You Heard: There’s a Tsunami of 1st Time Buyers on the Horizon!

Have You Heard: There’s a Tsunami of 1st Time Buyers on the Horizon!

Jonathan Smoke, chief economist at realtor.com, says he’s excited to see traffic and survey data indicating “first-time home buyers are poised to come back in a big way in 2017.”

That’s the good news; however, Smoke notes that, unfortunately, this surge doesn’t mean all of them will actually become home buyers.

Up-to-speed on neighborhood schools & amenities?

And, that’s where an agent with sound business processes can make a difference!

Why? This first-time buyer tends to face more challenges than other home buyer demographic segments:

  • They need help with down payment funds
  • These buyers tend to be renters so there’s a lease in place that needs to be managed
  • Many need to improve their credit score
  • They need to fine tune their focus towards homes in the appropriate price range to quality for a mortgage
That’s where the agent comes in with, as Smoke suggests, education, advice and support!
Why not have a prepared informational package highlighting common issues and offering suggestions to address them? A FAQ package, in other words! Work with your lenders so you understand which loans are most appropriate for your buyer profile — so you can comfortably discuss some of these details with prospects.  If this is your buyer profile, think about scheduling group educational sessions — and use your CRM software to send out invites, manage responses and keep track of attendees. You can become your prospect’s “trusted advisor” for all things home buying!
CPS has been providing sales/marketing software to home builders since 1985 — and we’ve seen several tsunamis!  Today’s CRM product will help you display financing and qualifying ratio scenarios, slice/dice data to focus on buyers needing additional information and manage those educational sessions, too!  Let us know how we can help you be prepared for this tsunami!

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