How Realtors Can Help Clients Who Have to Wait

We hear again and again that helping people move into the home of their dreams is one of the most gratifying aspects of a Realtor’s job. It’s exciting to help them find a home or a floor plan that fits their needs, help them through the build/closing process and see them successfully settle into their new home. But these days, prospective buyers often have to wait before they can start building or closing on a home. While this might be frustrating, there are several things hopeful home buyers can do in preparation of signing a contract:

Make Sure You are Pre-approved

It’s a good idea to get pre-approved for a home loan before buyers go house hunting. With inventory at an all-time low, it’s a necessity. Many builders require pre-approval before they will even put someone on the waiting list. Pre-approval indicates a motivated buyer. It also helps buyers determine how much home they can afford. This can be important if a builder’s prices begin to rise.

Keep an Eye on Your Credit

A pre-approval letter from a mortgage lender often expires after a certain time period. A buyer may still be on the wait list when it does, so it is very important to make sure their credit history is spotless in case they have to reapply.

Continue Saving

While a prospective buyer is on the wait list, they should continue saving money for their new home. It could make the difference in how much more can be put down on the home, allow the buyer to afford additional options or help them be prepared if home prices go up.

Make Plans Ahead of Time

Even though a contract hasn’t been signed, a prospective buyer can still start making decisions. A builder sales professional will likely have brochures featuring floor plans as well as the options available. We suggest choosing more than one floor plan in case a preferred design isn’t available when it’s time to sign a contract. Buyers should decide if they want to add a media room or a larger covered patio. They can even start thinking about furniture.

Create a Mood Board

When a buyer is able to purchase a new, to-be-built home, they will have to visit the design center to choose cabinets, countertops, flooring and more. While prospective buyers are waiting, why not create a mood board? Mood boards can be created on Pinterest, Houzz and even at home with home décor magazines and poster board. They should include appealing colors, a dream backsplash, appliances and paint. That will keep them from being overwhelmed when it’s time to decorate.

Check Back Often, Be Polite

We encourage buyers to check in with their builder every so often to see where they are on the waiting list, to find out if new sections are being opened in the community and if prices have gone up. Call or visit the model home. It may be a few days before a sales representative can respond, so buyers shouldn’t get discouraged; the sales representative will do their best to keep them up-to-date.

Get Social

Buyers can also spend time getting to know the builders they are considering by following their social media pages. There, they’ll see fresh design ideas, floor plans and possibly comments from other homeowners. Also follow the social media channels of the community where their new home will be built to learn about schools, lifestyle, the local area and more.