Everyone wants a home purchase to go smoothly, but sometimes, unforeseen problems do crop up. So what do you do when things start spiraling out of control?
Better yet, how do you prevent it from happening at all?
Understand Your Clients’ (Real!) Budget
Your clients may be attached to the idea of buying a home in a particular price range, but if that idea is unrealistic, they might be tempted to fudge a number here or there on their mortgage application. It happens… but it could lead to fraud charges and ruin the whole transaction.
It makes sense that lenders should look carefully at a borrower’s ability to pay and report any discrepancies. Unfortunately, it’s not unheard of for lenders to actually encourage borrowers to stretch the truth. In that case, it’s doubly important for you to act in your clients’ best interest and let them know that exaggerating on an application is not okay.
(Just FYI, mortgage fraud is a federal crime.)
It’s worth emphasizing to your clients the importance of being honest with themselves and with you about how much house they can really afford, so you can show them appropriately priced properties and avoid tempting them with luxuries that are out of their reach.
Keep Track of Deadlines for Your Clients
Once you have a property under contract, you know there are a number of things your clients need to do before closing. From home inspections to checking titles, it’s a pretty big laundry list. Keeping your own calendar for your clients’ timeline can keep things on track.
The fact is, a simple scheduled text reminding your clients to pick up a cashier’s check can make a huge difference in their entire experience.
Be Available, Even When You’re Not
Many homebuyers—not even just first-timers—need help through the process. If you’re going to be out of touch for more than a few hours, let your clients know that you’ll be unavailable but that you’ll be there to help them as soon as possible. It’s as easy as setting up an auto-responder in your email or making sure your voicemail says that you’ll call them back soon. That way, they don’t have to panic (and you don’t have to worry about collateral damage).
Are You Making the Most of Your
Real Estate Career?
If you’re not already working with us, it might be time to see what Benchmark Realty has to offer. From 100 percent agent commission to the flexibility to run your business however you see fit, you might find that working with us is a great choice.
Call us at 615-371-1544 or contact us online so we can set up a confidential meeting.