Being a Teacher in the World of Real Estate

The world of real estate can seem overwhelming and daunting to a prospective first-time home buyer.  It is for this reason, that REALTORS® hold such an important role for those looking to purchase a home.  Whether the client is a first-time buyer or a family looking to purchase a second home, a REALTORS® knowledge helps guide buyers down the path of purchasing a home.  However, out of all buyers, it seems that first-time home buyers are the weariest and have the most obstacles to overcome.  In fact, NAR statistics show that first-time home buyers have dropped in the recent year and this can be explained by the market and it’s low inventory.

“The dreams of many aspiring first-time buyers were unfortunately dimmed over the past year by persistent inventory shortages, which undercut their ability to become homeowners,” said Lawrence Yun, NAR chief economist. “Solid economic conditions and millennials in their prime buying years should be translating to a lot more sales to first-timers, but the unfortunate reality is that the nation’s homeownership rate will remain suppressed until entry-level supply conditions increase enough to improve overall affordability.”

Not only is the market intimidating for a first-time home buyer, but the financial burden is a huge factor as well.  Some of the most successful REALTOR® members, attribute success to their history of being a teacher.  It is important to inform those interested in purchasing their first home of all the programs that will assist with the leap into becoming a first-time home buyer.  For example, first-time homebuyer down payment assistant programs.  Or student loan and down payment assistant programs.  In this market teaching and encouraging new homeowners is a must, and having full knowledge of all the programs and options available will result in a positive experience for your clients.

To read more about this topic, view  the Full Report by Down Payment Resource