7 of the Most Common Questions Buyers Ask Real Estate Agents
Prepare Yourself for These Before That First Client Meeting
The home buying process can be confusing, exciting and, at times, a little terrifying. Quite often, buyers look to agents for feedback that alleviates common fears. To make sure you’re ready with the right answers, learn the most common questions buyers ask their agents.
Q: What Can I Afford?
A: Of course, this will depend on the buyer’s income, credit and financial obligations. Encourage the client to meet with a lender to get pre-approved for a home loan. Tell them to do this before they start shopping, so they won’t fall in love with properties outside their price range.
Q: What Should My Credit Score Be?
A: While some lenders will approve buyers with a 580 credit score or lower, buyers are better off with a minimum score of 620 or higher. This will result in better lending terms and lower monthly payments. Bear in mind that loan requirements are constantly changing, so encourage clients to meet with lenders to explore all their options.
Q: How Do I Know If I’m Getting A Good Deal?
A: There’s no certain way to determine whether a client is getting a bargain, especially when you factor in the subjectivity of individual buyers. That said, you can get a good value assessment by evaluating what similar properties are selling for in the area.
Q: How Many Homes Should I Look At?
A: There’s no definitive guideline here. While some prospective buyers look at hundreds of homes, others fall in love with the first one they see. If they really want to streamline the process, encourage your clients to hone in on specific neighborhoods they like.
Q: How Soon Can I Close?
A: Typical escrow periods span 30 to 45 days. This should provide plenty of time for loan completion and property inspection.
Q: Should I Get An Inspection?
A: Many buyers question the importance of home inspections; however, they can take considerable weight off their shoulders. Explain that homes often have unseen problems with roofs, heating and air, electricity and plumbing. Make sure these things are up to par to prevent costly repair charges down the line.
Q: What Can An Agent Do For Me?
A: Some prospective buyers have been led to believe they are better off without an agent. Explain how agents walk buyers through every part of the buying process, educating them about every available option. Let potential clients know that agents represent a buyer’s best interests throughout the entire transaction and beyond.
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