Advising First-Time Buyers: What Estate Agents Need To Consider

June 9, 2021

Between the COVID-19 pandemic and ever-increasing property prices, it’s safe to say that 2021 is a tough time to be a first-time homebuyer.

As such, property buyers looking to purchase their first home are increasingly turning to their estate agents for help and advice. They will also expect a higher standard of service from their estate agency, as they are paying exceptionally high prices for their first home.

If you and your estate agency staff are unsure about the support that you need to give to first-time buyers, then keep reading. We’ll discuss the ways that you can help new homebuyers to find and purchase their first property.

Send Them To A Mortgage Broker

Finding a good deal on a mortgage is vital for first-time buyers, so you should help them to find the right option that suits their requirements. If your estate agency doesn’t have an in-house mortgage broker, then you’ll need to collaborate with one to help your first-time buyers to understand how much money they have to spend on their dream home. If you want to partner with a broker that can tailor their service to a range of needs, then Alexander Southwell Mortgage Services could be the ideal broker for you to partner with to help your clients. These experienced mortgage brokers in Southampton can help a range of buyers to find the ideal mortgage deal so that you can send all of your clients there, including new home buyers.

If you want to give your clients the best advice, then ensure you work with the experts.

De-Code The Difficult Terms For Them

Buying a home is one of the most expensive and significant purchases that most people will ever make. As such, most new home buyers take the time to do their research before they start searching for their first home. Still, while first-time buyers might have done their research, they may still require support and advice when dealing with complicated terms. For example, when they’re checking the paperwork from their surveyor or even reading the advertisements for homes.

As such, you should take the time to help first-time buyers to understand the specific terms that are involved in buying a property. Taking extra time to advise and assist first-time buyers could benefit your clients and earn your business a reputation for exceptional customer service.

Advise First-Time Buyers On The Government Support Available To Them

There are many schemes backed by the UK Government that can help first-time property buyers to afford their dream home. However, your clients might not be fully aware of the grants, loans and other benefits that they could receive as a first-time buyer, so you should advise them on what they are eligible for and how to get this support. This approach will help first-time buyers to purchase a higher-value property, so you could potentially earn more commission on the sale. Also, it will again help you to give your clients the exceptional customer service that they expect when purchasing their first home.

Keep In Touch With First-Time Buyers

Buying a first property can take a lot of time, so if your clients don’t find the ideal home initially, you should keep supporting them throughout the process. Stay in touch with your first-time buyer clients and keep them up to date with the latest homes you have for sale so that they can find the perfect option. By supporting them and showing that you’re dedicated to helping your clients, you could not only get a sale later down the line, but also achieve a positive review for your business.

Supporting first-time buyers in these challenging times can seem difficult, but it doesn’t have to be that way. These tips should help you to get inspiration and understand what today’s first-time buyers need from their estate agents.

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