As a real estate professional, you may have fallen into a steady routine with your clients as the process of a real estate transaction has become second nature. Even though there are usually some moments of surprise or even stress as a part of many real estate transactions, it’s probably nothing you haven’t already experienced. So, while the experience may be relatively the same for you, the home buyer’s experience for your customers is usually completely new.
Your customers will be looking to you to help them through the entire process. While you can probably handle much of it in your sleep, chances are your buyers might actually be losing a little sleep because, as exciting as it is for them, it can also be scary and nerve-wracking. That’s why it is important for you to always try to come up with ways to improve a home buyer’s experience. Not only will it greatly benefit your client, but possibly you as well when your client recommends you to others.
Consider the following ways to improve a home buyer’s experience and put them into practice moving forward.
Communication is Key
Communicating properly with your clients is the key to setting their minds at ease. At the same time, listening to their concerns and taking the time to truly understand the client’s motivations can facilitate the process by making it easier for you to find a home that really suits the client’s needs and wants.
When you first sit down with a new client, ask them a series of questions about what they are looking, and what they definitely don’t want. It shouldn’t just be about the rudimentary details such as a maximum price and a certain number of bedrooms. Are they looking to downsize from a larger home or upgrade to a larger home that is more suitable for a growing family? Will schools in the area be important? How far are they willing to travel to work?
When you really understand not just what the client is looking for but also why they are looking for it, you’ll be in a better position to really serve them well and improve the home buying experience right from the start.
Let Them Know Everything There is to Know
The buyers are going to be overwhelmed with a lot of paperwork from the mortgage lender. On top of that, they’ll have to schedule a home inspection, deal with appraisals, provide information to title attorneys, and much more. They’ll have a lot of questions — don’t wait for the clients to ask their questions. Instead, take the initiative and tell them everything they need to know beforehand.
Walk them through the whole process so that they know exactly what is going on, how long certain things can take to complete, and why certain types of information are being asked for. Remember, you’re the expert, but they likely know very little about everything involved in a real estate transaction. Show them your expertise by providing them with the information they need instills confidence. It also helps them feel more included in the overall process, which also serves to improve the home buying experience.
Obviously, you’ve got a lot on your plate each day. But ensuring that you are always available to speak with your client and alleviate their concerns assures them that they are a priority. Even if you don’t have the time to get into an in-depth conversation, make sure you respond via text, phone, or email letting them know that you’ll talk with them as soon as possible. Doing so lets them know you aren’t just ignoring and helps to alleviate some of the anxiety they might be feeling.
A significant portion of today’s home buying population is seeking homes with Smart upgrades. They’re also pretty tech-savvy in general, which means it’s in your best interests to be the same for both of your benefits. Using text messages to keep in constant contact with your clients, providing virtual tours, and acquiring decent knowledge about smart home automation devices will help you serve the tech crowd better.
Additionally, you should consider using an electronic money transfer system for earnest money payments, closing costs, and other fees associated with a real estate transaction. Doing so not only caters to the tech-savvy crowd but also ensures more security, which brings us to our next way to improve the home buying experience.
The real estate industry is a frequent target of cybercriminals, hackers, and scammers. One of the most common ways fraudsters dupe unsuspecting individuals out of money is via wire transfer fraud. To combat this and reduce the risk of fraudulent activity, many real estate professionals now avoid wire transfers and cashier’s checks and instead opt to use paymints.io.
This is a fully electronic, secure, and compliant money transfer platform that was designed by real estate professionals, specifically for the real estate industry. Using this ACH transfer system offers much more security than a wire transfer, and also helps borrowers, buyers, sellers, and real estate agents save time and money.
Specialize in a Niche
Lastly, you can also try niche marketing to provide service to a specific group of customers. By specializing in a particular market, you differentiate yourself from a larger spectrum of real estate agents and also showcase your experience and expertise with that particular market. You’ll be able to cater directly to a group of clientele that knows they can rely on you for information another real estate agent might not have readily available.
Essentially, to improve your home buyer’s experience, you need to show your clients that you are knowledgeable, passionate about what you do, and always available for them. Keep their best interests in mind and you’ll likely find yourself more in demand from future home buyers as word of mouth spreads. Give your customers the VIP treatment — you’ll create longer, stronger relationships that will help you grow your real estate business.
For more information on ways to improve the home buying experience, and other important industry-related news, visit various blogs and forums that offer a wealth of resources for the real estate professional.
Get started using a secure ACH transfer system for earnest money deposits, closing costs, and other fees. Schedule a free demo of paymints.io today.