The inspiration for this post is from the existing homeowners, prospective homeowners and allied real estate professionals that have corresponded with me and commented on this blog over months past to the present.
I’ve learned and received much more than I’ve provided on this blog I assure you, but the common theme I’ve come away with is that consumers want authentic advice and to trust the people who are assisting them with their real estate endeavors. They want value and to know how real estate professionals will earn their business. The following is what consumers want:
Dear Real Estate Professional,
- I want to be treated like a partner, not a “lead” or a means to an end.
- I want relevant information, fast and accurate.
- I want to know why I shouldn’t buy a particular home and why I should.
- If my objective is to build equity, I want solid advice based upon my ownership horizon.
- I want to know exactly how my agent is being paid and by whom.
- I want to know if my mortgage broker’s company or my agent’s brokerage firm has any financial interests in the referrals they give me for third party providers (mortgage, escrow, title, insurance, etc….). I want to know these disclosures at the start of our working relationship, not when I’m signing my loan or closing papers.
- I want to know how my mortgage broker is being paid or if any of the associated fees are duplicate in nature or unnecessary.
- I want my best financial and personal interests to be looked after in my transaction.
- I want to know exactly what the market conditions are. I don’t want to learn about the market conditions from other sources after the fact……
…..Three factors caused this decade’s housing boom to spiral upwards: 1) a run-up in home price valuations that spurred a high sense of urgency in home buying and selling; 2) poor lending practices, which caused many homebuyers to secure loans that they ultimately couldn’t afford over the long term; and 3) speculative purchases of homes also increased, with buyers investing in real estate with the hope of a quick return-on-investment.
- I want to know what the benefits and detriments are of entering into a multiple offer situation.
- I want to trust you.
- I want to know if there is an incentive of any kind, financial or other benefit, from a seller to you (my agent) and how it impacts me.
- I want my agent to be responsive, authentic and collaborative with everyone in my transaction.
- I want to work with a professional.
- I want you to anticipate potential problems before they occur, not react to them as they are upon us.
- I don’t want to receive my loan documents to sign at the very last possible moment.
- I don’t want to pay for inexperience at the same rate as I do for an experienced professional.
Comment Add on’s:
- I would like choices in the service levels I would like to receive/purchase.
If you do this you for me you will have my business for life and I won’t have to go here when I decide to sell, buy or refinance again.
Sincerely,
Consumer