What do first-time homebuyers want from real estate agents?
First-time homebuyers are a unique breed of consumer. With little in the way of experience in real estate, they offer a fresh batch of challenges and opportunities for real estate agents.
Thanks to the newest J.D. Power 2014 Home Buyer/Seller Satisfaction StudySM, which is now in its seventh year, we have a solid understanding of what first-time buyers expect of their agents when it comes to the homebuying process.
Here are the three big takeaways from the survey:
1. Clear, Copious Communication – All homebuyers want solid communication during the homebuying process, but it’s particularly important with first-time homebuyers, who will have little to no background in how the process actually works. Also, J.D. Power found that first-time buyers expect not only clear communication, but explanations at every step of the process; so though you may be able to skimp a bit on your explanation of certain details with an experienced buyer (how PMI and escrow works, for instance), you’ll want to avoid such assumptions with the first-time buyers.
2. Take the Lead – Because first-time homebuyers are such freshies to the real estate world, they expect agents to take the lead in the process. So whether it’s the appraisal, the inspection or the home warranty stage, the first-time buyer is looking to you for guidance and leadership.
3. No Seams – Finally, J.D. Power reported that first-time buyers want a seamless real estate experience. Given how overwhelming the homebuying process can be, the last thing they want is a slip-up that prolongs the process and leads to more questions and worry; so, from the home showings, to the offer, to the negotiations and closing, make sure you have everything planned and ready.