Agents: Serve first-time homebuyers well and everyone wins

Kris Rosser Schmitt, Illinois based agent and managing broker at the Barbier Agency, has fueled her business with first-time homebuyers since 2001. Why?

“As agents, we are psychologists who sell houses. And first-time homebuyers are your best referral strategy…if you do it right. You are going to hand hold and educate more, but the ROI [return on investment] is huge. When you build trust with first-time homebuyers, you’ll gain stronger, more motivated leads,” said Kris.

Kris puts the focus on serving her first-time buyers well and they do the rest. Kris said her successful first-time homebuyers will give her 5 -10 leads in the next 12 to 18 months. They actively share all the details about their home buying experience with their friends and family.

“We [agents] are relationship based people. That’s how we sell,” said Kris. keep reading

Agents and Lenders, Can you explain down payments to clients?

A comprehensive look at programs for buyers

by: Rob Chrane, CEO, Down Payment Resource

  • Assistance programs may offer grants, funds for closing costs, a second loan, a low-interest mortgage with no PMI or a tax credit.
  • Funding comes from federal sources, bond-funded programs, state-sponsored housing and TBA (to-be-announced) and capital markets funding.
  • Without clear guidance, some lenders may decide to pull back on using these programs for fear of an audit.
  • Explore local options and talk to lenders to fully understand the loans they originate.

In a market where first-time homebuyers consistently cite the down payment as their no. 1 challenge, there’s a battle brewing behind the scenes — a fight to preserve the wide range of down payment programs that propel scores of new buyers into homeownership.

More real estate professionals are trying to reach first-time homebuyers — it’s the future of the market, after all. Many of these buyers may qualify for down payment help, helping boost their buying power and getting them into a home sooner.

Even if you already use homeownership programs, you probably find yourself asking: Where does the money come from? How do the programs work? Can my clients benefit? keep reading

Join us at Inman Connect: Your discount code

300x250_ICSF16_PromoAssets5Inman Connect creates the two biggest real estate technology gatherings of the year. Celebrating its 20th year, Inman Connect is where innovation is celebrated, relationships are forged and deals are made.

You’re invited to join us and the leaders of real estate at Inman Connect August 2 – 5 in San Francisco with a special rate. Click here to register and enter promo code DPR for $200 off.

Here are the top three reasons we wouldn’t miss Inman Connect:

  • Startup Alley: Every company started somewhere! We appreciate the opportunity to talk to new startups who are solving problems, improving customer experiences and developing new technologies. In 2009, we were one of those start ups—one of 16 in the first ever Startup Alley. The event inspired many strategic decisions for our company. Check out our list of partners today!
  • Awards: We were thrilled to be named the 2011 Most Innovative Technology. We wouldn’t miss getting to know the up and coming people, businesses and technologies that are improving the way we do real estate.
  • Sessions: We look forward to taking in sessions dedicated to discussing what’s next for digital marketing, MLSs, data and agent success.

Learn more about Inman Connect. keep reading