Real estate finance tips for you to pass on to your customers
So it is! To be the best realtor possible, it is not enough to have a keen sensitivity to identify the client’s needs, persuasion to close the purchase and a good real estate catalog to always have the best options. A good realtor is also one who is armed with information relevant to clients. This includes passing on real estate financing tips.
More than intermediating a purchase, the professional needs to be a real estate consultant. Guiding your customer on sensitive issues that may even make your sale unfeasible is one of those tasks. For example, if the buyer finds an impediment to getting a loan, all the time spent in negotiations ends up being lost.
So how about giving him a hand? In this case, follow up on some mortgage finance tips that you, the realtor, can use to help your clients.
Credit approved before choosing the property
Try to find out, in advance, what the financial situation of your client is. Getting financing before you start choosing the property can allow this process to be done without any major worries. Have you ever wondered if you help the client find the perfect home and, while he is looking for a loan, another interested person appears ready to pay?
As a precaution, the broker can notify his client of the advantages of getting pre-approved credit right at the first service. Valid for 90 days, the customer has enough time to think and find the property of their dreams.
Civil servants have special conditions
One of the ways to understand your buyer’s financial situation is to know what his profession is. This is because banks offer special rates and terms for those who are public servants. But those who work in the private sector also have their possibilities, such as using the FGTS.
By the way, the bank will also want to know what the buyer works with: let him know that, so he can prepare for whatever comes and goes. Anyway, it is essential that you register the main information of your customers in a Real Estate CRM . Thus, it becomes easier to pass on the best real estate financing tips to them.
Monthly income cannot be compromised
Has your client been looking for property for a long time? Such a question can help you to know if the potential buyer is also planning financially so as not to have surprises during the time that the installments are being paid. After all, installments cannot compromise more than 30% of your monthly income.
Therefore, the broker can suggest to the client that they supplement their earnings with someone else’s income. It is important to raise all possible scenarios, including the most pessimistic one, such as losing your job during this period.
Therefore, one more real estate financing tips is to have a financial reserve of 50% of the property’s value. And, to improve the situation, it is not good to leave this money in savings. Encourage your client to look for an application that yields higher than the rate of inflation.
Attention to additional expenses
Not only the value of the house or apartment is made the value of the loan. Your customer needs to know that there are other costs to worry about. Some fees involved in a real estate transaction are: ITBI (Tax on Transmission of Real Estate), expenses with the notary’s office for registration of documentation, life and property insurance, among others.
Anyway, it is always worth reinforcing these additional expenses so that your customer does not get indebted during the payment of installments.
Keeping an eye on deadlines and rates
The real estate financing tips don’t stop there. Here, it is very important for the broker to alert the client about the entry. Ideally, he’s already in with a good amount of money. This helps to shorten the time to pay off the loan.
After all, the longer it takes to finish the installments, the higher the interest rate, which also increases the total value of the property. Banks normally finance up to 80% of the property’s value. Still, it’s always good to suggest a good search to see who offers the best rates.
Finally, and beyond the question of values, it’s good that your client has up-to-date documents and that he doesn’t have outstanding bank debts. Let him pay attention to all these details should contribute a lot so that the business between you ends in success and gains for both.
By passing these real estate financing tips, you earn your client’s trust. He begins to see you as a professional concerned with the situation of your customers and not just with the sale. Maybe you won’t get more nominations in the future?