RISMedia's Real Estate Magazine

APR 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/1097917

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Page 127 of 144

RISMedia's REAL ESTATE April 2019 121 The webinar, sponsored by Ameri- can Home Shield, was titled "The New Normal for First-Timers: How to Confront and Overcome Today's Buyer Challenges." Participants included Terra Bea - ver with The Mike Coke Team at Terra Firma Realty, Inc.; Brenda Jones, principal broker of the Bren - da Jones Real Estate Group; Cam- eron Drew, a sales partner at The Power of 2 Team; Julie Munchel, a buyer's specialist with the Lee Tes - sier Team at Tessier Real Estate; Paul Johnsen, a sales partner with the Lee Tessier Team at Tessier Real Estate; and Bob Davoli, a re - gional sales director at American Home Shield. Opening up the webinar, Workman asked: What are the differences be - tween first-time and repeat buyers? The biggest difference, according to Beaver, is that previous owners know what they want. To a first-time buyer, Johnsen added, owning a home means stability and control. As an agent, you're helping them grow in the long term. You must understand what they need and show them how you can help them get it. With first-timers, Drew noted that you're more of a mentor through the process. "You want to explain things in a way they can understand and ensure they can trust you and build a comfortable environment." Munchel added that when work - ing with first-timers, "I want them to understand the process, and I get enjoyment out of teaching them." "A common thread with first- time buyers," said Jones, "is they all have misconceptions regarding the real estate market and how the process works." So, how do we meet their expec - tations? EDUCATION. "Find out what they're looking for, what's important, then walk them through the steps," not - ed Beaver. Davoli explained how his com - pany can rise to assist first-timers after the sale. "We offer buyers financial protection after closing, when they're vulnerable," he said. COMMUNICATION. "First-timers are less likely to pick up a phone call than to answer a text," said John - sen. "You need to adjust to how they prefer to be communicated with." How quickly you communi - cate is also crucial. MARKETING. How are agents and brokers reaching today's first-time buyers? According to Beaver, the answer lies in social media. "I en - gage and attract on Twitter, Insta- gram and Facebook," she noted. Drew has found success host - ing young professional network- ing events and other unique, in- person initiatives. "Camp out in a coffee shop and purchase coffees for folks coming in and ask them about their real estate needs," sug - gested Drew. OVERCOMING OBSTACLES. What's standing in the way of today's first- time homeowners? Debt. In Jones' market, unemployment is also a hurdle. "The availability of jobs in [Vermont] is not that great. We're still coming out of the reces - sion. Because of this, there's a lack of inventory." How does Jones combat this? "We're running ads that state that we have a qualified buyer looking for a property at the value of X." RE To view the webinar in full, visit https://bit.ly/2ESV6PM. Zoe Eisenberg is RISMedia's senior content editor. Webinar Recap: How to Overcome Today's First-Time Buyer Challenges by Zoe Eisenberg I n RISMedia's latest webinar, moderator Verl Workman, CEO and founder of Workman Success Systems, sat down with top industry professionals to chat about working with first- time homebuyers.

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