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

Agent launches DPR marketing tool DURING webinar!

Some marketing goals take weeks and months to accomplish. With Down Payment Resource, all you need is a few minutes to make a difference. Just ask Carrie Van Beusekom.

During a recent webinar, DPR best practices for agents, we showed agents using DPR through their MLS how they can set up their own DPR Personal Marketing Tool on their website, social sites and email signature. Carrie Van Beusekom with Coldwell Banker Burnet in Edina, Minnesota did just that. Before the webinar was over, Carrie copied her unique DPR link, chose a down payment icon and created her first business Facebook post highlighting down payment programs and how buyers can search for help with her new link.

We followed up with Carrie to find out more about her business and how she works with her buyers.

Why do you think many buyers are still on the sidelines?

Tmr104301f6720vanbeusekomwebwenty years ago I believed because I was in my early 30s and had an hourly, support job, I couldn’t afford or qualify to buy my first home. When I finally inquired, I was so happy and surprised I could and I did. But fear and discouragement kept me from calling anyone for a long time. keep reading

The real reasons millennials aren’t buying homes and what agents can do about it

by Bernice Ross

This guest blog post comes from Bernice Ross with RealEstateCoach. Her two part series covers the real reasons millennials aren’t buying homes and how you can build your first-time homebuyer pipeline.

Part 1: The real reasons millennials aren’t buying homes

Many experts have argued that affordability, student loans or fear of being tied down are the primary reasons millennials are not buying homes. The real reasons, however, might be quite different from what the conventional wisdom suggests.

Although many people believe that millennials don’t want to be tied down with a home, a recent Redfin study indicates otherwise.

According to Nela Richardson, the chief economist at Redfin, “92 percent of millennials who don’t own a home say they plan to buy in the next four years.”

Richardson believes the big driver for homeownership is having children. In fact, the Redfin survey showed that 38 percent of U.S. millennials said they would, or have, put off a wedding or honeymoon to afford to buy a home. As Richardson says, “Mortgages before marriage.”

So what is keeping millennials from entering the housing market? Here are the factors at play:

Student loans: not the real issue

A study from TransUnion found that student loan impact on rates of millennial homeownership might be overblown. keep reading