First time home buyers can almost always use some help figuring out how to get their finances in order and make sure they are financially ready for home ownership. If you have clients who are thinking about buying a home but aren’t quite financially ready to take the plunge yet you can help them learn more about the mortgage and home buying processes as well as helping them with money management skills to get them on the path to home ownership. Three ways that you can help your clients learn are:
Create A Recommended Reading List
A great way to help prepare your clients to buy a home is to create a recommended reading list of books that will help them with everything from creating a budget to figuring out property taxes. Buyers will really appreciate the information and that extra step will communicate to them that you are really on their side and want to help them get into a new home. You can print a copy of the list to give to new clients or you can create a digital list that can be shared and you can share it on your website and your social media. Set up an affiliate account with a site like Amazon and you can earn money when they buy a book based on your recommendation.
Send Them to Home Buying Classes
Another way to help your clients prepare for home ownership is to send them a class or classes on home buying. Many colleges offer continuing education or adult education classes on topics of all kinds including home buying. You can check to see if any schools in your area offer classes that would be helpful to new home buyers and recommend those classes to your clients.
Teach A Mortgage 101 Seminar
If you can’t find any helpful classes in your area, or if you just want to make sure that your clients get the information they need, you can teach your own seminar on home buying and understanding mortgages. You can teach things like what a debt to income ratio is, how if affects your mortgage, and what type of mortgage is best for each buyer’s situation. You can also teach them how lower their debt to income ratio and provide helpful money management tips and budgeting recommendations.
Even though buyers should be prepared financially for the costs of buying a home they often aren’t, especially if they are buying their first home. Taking the time to work through the process with them is a fantastic way to build a strong relationship with your clients and make sure that they continue to come back to you when they are looking for a new home and get them to refer friends and family to you also.