Tuesday
September 2, 2014

As Buyers' Nerves Fray, Agents Take Support Roles

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As Buyers' Nerves Fray, Agents Take Support Roles

In the current market, where buyers are plentiful but homes are not, house hunters can become discouraged, but real estate agents can help keep them motivated.

Agents should encourage buyer customers to obtain mortgage preapprovals before they begin looking at homes, given that deals are closing fast, and they should secure showings within 24 to 48 hours of finding a suitable property for their clients.

They also will want to stress the importance of strong offers, as making a bigger earnest money deposit and down payment and minimizing concessions will improve the bidder's chances of being accepted.

Agents should ensure that buyers have realistic expectations, helping to keep them in the necessary price range and encouraging them to walk away from deals that are not in their best interests.

Finally, they should save the listing agent time by submitting a complete package with a preapproval letter, a strong offer, and other supporting documentation to highlight the buyers' strengths.

Ultimately, if they cannot find an existing home suitable for their clients, agents can turn to new construction as an alternative option.This approach will benefit the agent as well, as builders will provide commissions for finding them buyers.

Source: "Help Discouraged Buyers Stay on Track," RISMedia (06/24/13)

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