At least 5 million homes are sold in the U.S every year. Business is booming in the real estate industry, and current and prospective homeowners are continually looking for the next best house to buy.
However, the industry is as competitive as it is lucrative. As a realtor, you need to provide the best for your clients if you want them to recommend you to friends, family, and social media circles.
Customer service is critical. Not every prospective homeowner knows what they want or has been through the buying process before. You need to understand your client’s needs so you can sell them a house in the perfect location.
With this in mind, keep reading for tips on how to help your clients find the best place to buy a house.
Ask About Their Lifestyle
Your client’s lifestyle is a great starting point when helping them find the perfect location for a home. Do they love living in the city? Or would they prefer suburban or rural areas?
Single or young clients who are working in the city may prefer to live close to their jobs. Thus, they wouldn’t mind buying a house in the town. However, the older ones may prefer a more quiet environment in the suburbs or rural parts of the state.
Ask about the customer’s lifestyle and preferences. What’s their ideal location? Are there lifestyle issues which would affect their choice of location?
Such information can help you narrow down your selection to select residential areas in the city or state.
Know Your Client’s Budget
The average housing prices vary from one state to another. The national average listing price is around $279,500. However, a home in Ohio costs an average of $279,900 while one in California will set you back over $544,000.
Know the average listing price in your state, towns, and cities. Ask your client the maximum they’re willing to spend on their new home.
With this information, you can recommend the most suitable locations where they can get a house within their budget. Take the initiative to find out about existing properties in these areas, the features, and listing prices.
Discuss Property Features
What kind of property does your client want? Is it contemporary, mid-century, ranch-style, or Victorian? How many rooms do they need?
Narrowing down the features of the house can give you an idea of where to find homes for sale in the preferred style. For example, contemporary buildings are common in the cities while ranch-style ones are popular among older generations in rural areas.
Break down details such as the following as well:
- The preferred square footage of the home
- Number and types of rooms
- The need for a large driveway and backyard
- Future property modifications or additions
Consider Social Amenities
Social amenities are a crucial consideration when choosing the perfect place for a home. For example, a family with kids would likely want a location near schools, playgrounds, and other kid-friendly facilities.
Essential amenities to consider are:
- Health services
- Recreational options
- Entertainment venues
- Shopping destinations
Ask your client about the kind of amenities they’d need and find a location within proximity to the facilities. This can promote convenience and improve their quality of life.
Ask About Financing
Buying a house in cash is every person’s dream. However, most of us need a mortgage loan to finance a home. As of the end of 2018, the outstanding mortgage debt in the U.S was around $15 trillion.
Most new home buyers know nothing about mortgages and the complexities of getting approved. Thus, if they plan to get a mortgage loan, they’ll need help to navigate the process.
If your client is getting a loan, walk them through the financing process. Recommend the best financing institutions. You can even hook them up with a reputable mortgage expert you know.
Also, inform your client that location usually affects mortgage rates. Thus, as they select a specific city or town, their choice can mean a higher or lower mortgage interest rate.
Discuss Risks and Insurance
Some areas are prone to natural disasters such as floods and fire, and these are expensive to insure. Thus, it’s important to talk to your client about these risks and whether they’re prepared to acquire adequate insurance against them.
If your client has concerns about paying a lot of money for insurance, recommend locations with a low risk of natural disasters. If possible, get information about the average insurance costs for these locations. This will help your customer to make an informed choice when buying a home.
What to Do After Finding the Best Place to Buy a House
You have used the above factors and helped your client to narrow down their search to a specific location. What should you do next?
1. Find Listings in the Area
Look for listings which match your client’s needs. Contact developers, call your real estate contacts and get recommendations.
Online resources are also excellent places to find properties as well. You can learn more here about various real estate listings your clients would love. Strive to find the best properties for your customers.
2. Invest in Virtual Technology
Gone are the days where clients would physically visit tens of houses to choose the best one for their needs. The process is exhausting and time-consuming. You can ease it by investing in virtual reality technology.
The tech allows you to offer virtual reality tours to your clients. They view the entire house on a computer, and this saves them from making multiple trips. Once they like a house, organize for physical viewing.
3. Walk Clients Through the Buying Process
You are your client’s best friend when it comes to property buying. Thus, live up to this role by easing the process for them.
Help them with home inspections, mortgage applications, and any other task they’d need professional insight. You can even recommend contractors for remodels and home improvement.
The quality customer service will go a long way in earning you positive feedback after the deal is closed.
Are You Ready to Sell a House?
Selling homes is a process that requires you to get in touch with your clients’ needs. Consider these essential factors and help your customers find the best place to buy a house. You’ll earn yourself points for excellent service and build your reputation in the industry.
Check out our real estate articles to learn even more about how to build a successful real estate business.