Tag: Home sales

5 Ways to Help Buyers Understand Credit Scores

Marci Sepulveda Leave a comment

The homebuying process can be an overwhelming ride for buyers, particularly first-timers. Add in the aspect of understanding credit scores and your clients can become even more perplexed. While most homebuyers will require a loan, a fundamental step in acquiring that loan will be an adequate credit score.

This blog breaks down four ways you can make the credit score topic more understandable to your clients.

#1. Understand Your Buyers

One of the crucial first steps is to create dialogue with your clients on their understanding of credit. Start this off by asking some general questions, as it’ll set the stage for clearing any confusion. Do they have any student loan debt? Do they know what their credit score is? Have they owned a property before? Knowing where your clients are financially and their knowledge level will help you to tailor the information you give them in a more relevant manner during the buying process.

#2. Avoid Technical Language

In your daily life as an agent you may use terminology that the average non-agent individual may have no clue on. Using terms like LLPAs, PITI and loan-to-value won’t impress your audience, it’ll just add complexity. Financial jargon may be useful when it comes down to understanding the paperwork, but creating explanations that your clients will understand is key in keeping focus.

#3. Explain the Typical Timeline

Walk buyers through the entire process, from the purchase and credit line decisions that could impact their credit score to prequalification and preapproval to the process of applying for a mortgage. Many don’t understand the process after they’re approved but before they close. This time period is critical in terms of keeping the financial of the deal intact, so don’t end the timeline prematurely.

#4. Utilize Visual Aids

Many people are visual learners and they understand topics better if they can see what they’re trying to comprehend for the first time. Touch base with lenders and mortgage brokers that you frequently work with and ask if they have infographics or charts that’ll help breakdown the complex loan process visually.

#5. Bring It All Together

The process of homebuying has many complex stages. From perfecting the home search for your clients to walking them through the mortgage process, credit scores are another area that can cause confusion. Utilizing the five ways explained in this blog can create a simpler and better understanding of credit scores. To learn more about guiding your clients through these processes, begin your seven-day free trial of AgentEDU and gain access to our fundamental “Representing Buyers” video course.

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AgentEDU® is a platform where agents at every level can come to watch 10-minute video courses for the many situations that successful agents must master. From essential to advanced level and everything in between, AgentEDU® courses help agents become top producers with increased earnings and a plan for continued growth. For a 7-day free trial sign up here.

AgentEDU® is an Agent Publishing brand. For nearly two decades, Agent Publishing has been committed to providing residential real estate professionals with the information and training required to build successful and meaningful careers in their local markets. Agent Publishing’s influence extends to every career stage and reaches agents across print, digital, events and online learning.

5 Things Your Client Can Do to Help Sell Their Home

Anne Hartnett Leave a comment

Preparing a home for sale for top dollar can take more time and effort than your clients may realize. This is where you need to engage, and possibly even get in front of potential clients who may not be ready to sell now but possibly will be soon.

No matter what state of mind your clients may be in, it’s never a bad idea to keep a list of important pre-sale tasks to share for when it comes time to sell. Here’s a list of five things your clients can do to further prepare their property for selling.

#1. Purge and Donate

Moving can be an expensive task; there’s no reason to pay to pack and move items that have sat unused and will remain unused in a new home. Although people may have items they keep for sentimental value, freeing up space is a great start toward an eventual move. Tell your clients to start by going through closets and sorting unwanted items into donate piles. Closet space is essential in selling a home so freeing up valuable storage areas contributes a positive selling point.

Another positive to remind your sellers of in this conversation is the donation aspect. There are many deserving charities that’ll benefit from clothing and household items they no longer use. And don’t forget to mention the possible tax deduction.

#2. Deep Clean

Now that there’s more space in the home, it’s time to convince sellers to roll up their sleeves and get to work. There are areas of the home that typically never get a good scrub unless you dedicate time to it or hire professional cleaners.

Remind clients to think about spaces such as  under beds, inside appliances, fan blades, blinds, and windowsills. Remind them to ensure their showerheads and tubs are free of calcium and rust stains. This is also a great time to get the HV/AC unit serviced and cleaned.

#3. Home Inspection

It’s probably been a while since the property’s last home inspection, so you may want to suggest a prelisting inspection. This’ll allow any known issues to be dealt with sooner rather than later. This will not only save time when their home is officially on the market, but also can put both the sellers’ and buyers’ minds at ease while building trust and transparency between the two parties.

#4. Repairs

There may be some repairs that the home inspection report suggests undertaking. If there are larger issues that need repairing, such as electrical work or plumbing issues, hiring a professional is the way to go. Smaller fixes like cabinet doors and knobs that need tightening or fixing broken door locks can be done by the homeowner if they’re comfortable with the work. But if there’s a long to-do list, it’s best to hire a handyman.

#5. Updates

Often there’s a to-do list that sellers have been fidgeting with since the initial move-in, but never got accomplished. Maybe it’s taking out carpet, removing wallpaper, adding a backsplash to the kitchen or getting cabinets replaced. Go over this list and help your clients decide what, if anything, should be done before listing the property.

Freshening up a home is a key low-impact way to get the property market-ready. Simple tasks like clearing out closet space or replacing kitchen cabinet handles are small touches than can make major impacts. These are mostly inexpensive ways to prepare a property for the market, but also smart ways potential sellers can get a head start on the selling process, even if they don’t plan on putting their home on the market for several months.

To learn more about the ways you can prepare a property for market and better serve your sellers, start your free seven-day free trial of AgentEDU and watch our “Representing Sellers” course for vital information.

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AgentEDU® is a platform where agents at every level can come to watch 10-minute video courses for the many situations that successful agents must master. From essential to advanced level and everything in between, AgentEDU® courses help agents become top producers with increased earnings and a plan for continued growth. For a 7-day free trial sign up here.

AgentEDU® is an Agent Publishing brand. For nearly two decades, Agent Publishing has been committed to providing residential real estate professionals with the information and training required to build successful and meaningful careers in their local markets. Agent Publishing’s influence extends to every career stage and reaches agents across print, digital, events and online learning.