In recent years, Chip and Joanna Gaines have made headlines with their blockbuster Fixer Upper show and memorable Waco, Texas-based Magnolia brand. And while many of us don’t have Chip and Joanna-sized budgets, many homebuyers seem to think that’s just how the cookie crumbles when it comes to buying a home.
The fact of the matter is that we’ve all seen the “Fixer Upper” buyer, but how do you handle buyers with far-fetched expectations? Here are some of our ways to keep needy buyers in check.
Be Candid About Budgets and Goals
As a realtor, you’re likely already keen to what sort of budget your clients have in mind, but if you’re working as a seller, those things may not be as crystal clear. Here, you need to have a frank and candid conversation with potential buyers about their budget for their new home and what their goals are.
Many times, new buyers have ambitions that far exceed what they (or their budget) are capable of, and many times this can lead to delusional demands and lofty goals. As an experienced realtor, this is where you can intervene with some crafty suggestions. With your experience, help your buyer understand what aspects of their goals are doable and what may need to wait for another day.
Keep Open Lines of Communication
Communication is key when working with a Fixer Upper buyer. Setting the stage by being candid about their goals and budget should establish a precedent for how your relationship will proceed, but it doesn’t stop there.
Maintain an open forum for communication with your buyer and be the best mediator you can in helping them differentiate between dreams and reality. Be a good listener and allow buyers to voice their concerns while asking plenty of questions to help establish rapport with them. Offer insights based on their concerns and strive to reach a common ground for their ambitions and purchase.
Understand the Process
As a realtor, we expect you to fully understand the home buying process, but if you’re working with a Fixer Upper buyer, they may not understand exactly what the process looks like. This is where you, as the expert, can help guide your buyer in the right direction. For first time home buyers, the home buying process alone can be eye-opening and humbling enough to table any big HGTV ambitions.
Helping to guide your buyers through the labyrinth of home buying will build lasting trust and give you the leg up on referrals and future repeat business fueled by a positive buying experience. One thing you can do to help your buyer along is to begin at the end. In other words, help alleviate bottlenecks in the process by getting the hard stuff done early on.
Of course the #1 thing you need to help your buyer understand is financing and how to get a mortgage. Knowing where to go and helping your buyer get the process rolling will ensure that you get a closed sale at the end of the deal. Fortunately, Tidewater Mortgage Services, Inc is here to help! Our simple online application is a great starting place for your Fixer Upper buyer, and they can get pre-qualified for their dream home or fixer upper home.
No matter the circumstances, Tidewater’s loan officers have a solution and a way to get your buyer into their home.
