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

4 Common Down Payment Program Myths Debunked

Myths or Facts Concept

If you’re considering buying a home, you’re probably in deep in research mode right now. In fact, most homebuyers do significant online research before engaging a lender or agent. And, if you’re here, you are likely researching about the down payment for your home purchase.

Home prices, along with down payments, are increasing, but down payment assistance programs can help make buying a home more affordable. We’re breaking down some of the most common myths about home financing and down payment programs. keep reading

FHA: Affordable or Not?

If you’re a first-time homebuyer, you’ve likely heard of an FHA loan. Why do so many first-timers flock to FHA?

These loans, insured by the Federal Housing Administration, can be a great fit for new buyers because they allow low down payments (3.5%), good long-term interest rates and flexible qualifications. However, these affordable loans also include premiums (loan fees) and mortgage insurance for your lender to manage the risk on the loan. It protects your lender in case you default on your loan. keep reading