1. They Don’t Consider the Details.
You want your clients to toast the memory of you handing them the keys to their home, not rue the day they closed. To keep them from regretting the biggest purchase of their lives, you need to help them think through the details of what they want before you even start looking at properties. So, ask them questions like: Who do they picture living in the house in 10 years? How will they spend their time in and outside the home? How will everyone get to school and work? From there you’ll be able to help them determine their non-negotiable needs before they are seduced by a home that seems perfect to them now, but that they’ll regret in a few years.
2. They Ignore Important Information.
The nitty-gritty details of buying a home, like disclosures, inspections, and loan documents, pale in comparison to buyers’ excitement at having their offer accepted. Of course, it’s up to them to review all the important documents, but as an experience agent, you can anticipate potential oversights on the part of the buyer by flagging important items, setting appointments to review documents, and urging them to ask questions — even if they’re afraid of sounding silly. Make sure the buyers know what they’re getting themselves into before they finish signing the papers.
3. They Sabotage Their Financials.
Clients can be their own worst enemies when it comes to closing a deal. Keep them from sabotaging their chances by sharing all the ways you’ve seen buyers complicate financial matters for themselves. Mistakes include increasing credit card debt, buying a car, changing jobs, or paying bills late. No matter how long it takes for them to purchase a house, make sure they consult before they make major financial or career changes.
4. They Wait Too Long.
When it comes time to make a move, some buyers just can’t pull the trigger. Maybe they hesitate to make an offer, or they’re slow to get their documents to the broker, or they wait so long to review inspection reports that they freak out and consider pulling out of the deal. As an agent, you can help them avoid these buyer pitfalls by briefing them on common scenarios and the possible consequences of their actions. That way, when it’s time to act, they’ll feel that you have prepared them for each situation they face.