People are frightened right now. About each aspect of the said, "Real Estate State of Being". DO NOT BE AFRAID...FORGE AHEAD.
Yes, everything from Appraisals to Lending seems more difficult right now but only because it simply is. As a great agent would say, "Tell it like it is" and if the client is ready to rough it then "Go For It!"
Regular folks use to be able to shop for Real Estate like they were flipping through clothes on a rack. "This one looks like it would fit" they would say and even if it was not the perfect fit they would go for it because there was always an alternative.
HONING....WHAT IS HONING IN?
Honing and "Honing in" on a property is what is absolutely necessary in this day in age. A client must be Fervently Decided upon a particular property to make it work. There is no more dart throwing. No more horseshoe clangers that almost counted...nope, not anymore. A Realtor must target each and every detail with the client and the Lender. Cover it all and close any loose ends.
Find the heart of your client. Educate. Let them know in no uncertain terms that their decision is putting EVERYTHING ON THE LINE...like their ability to purchase, their ability or YOUR ability to negotiate for them is on the line. Exactly what is your plan to get them into the house? It's up to you my Realtor friends!
We have a choice of Conventional Financing...maybe so if you are lucky. But, at this time it takes jumping through firey hoops to make this happen so then what is next? Does the owner own the property free and clear? Could they Owner Finance? What would be their terms? Would they hold a second on their home to get a buyer in? Does the Buyer need to up their credit score to qualify? Are they (the buyer) stated income? If they are then look for the Owner Financing Options...there may not be another.
The most difficult problem I have had is convincing the potential clients that what I say is true. That Lending has changed as much as the horses in The Wizzard of Oz!
They are now a horse of a different color and you must stay apprised of their new laws and guidelines to be able to help our clients! And, that's why we are here right? To help them get their dream homes.
It's time to study, research and EDUCATE. You can do it.
Check out my website at: www.debs-realestate.com.