Recently I had an opportunity to work with a young couple who are thinking about homeownership. They would be first time homeowners in the greater Frisco TX area. Their initial call to me was to ask what advantages are there in working with a Realtor(R) if they wanted to purchase a new-built.
Right off the bat, I told them that my answer would be bias to begin with. I am a Realtor(R), so I respectfully told them that I would think that having a Realtor(R) in the picture would protect their interests since the salesperson that they are dealing with would naturally protect the interest of their company. At the same time, it does not cost them to hire me, my fees are paid by the Seller.
This couple will be relocating from California, buying their first home here in the greater Frisco TX area. I explained to them that are some features that are common in California, that may not be good selling features for North Texas. Also, I could be hear to set their expectations as far as working with a builder versus purchasing an existing home. Our conversation ended cordially, giving them time to call me back if they decide to work with me.
Three days later, she called me back saying that they do indeed want to hire me to represent their interests. So, I asked more qualifying questions to see if they are ready for homeownership here in Texas.
Like most first time homeowners, they do not have a down payment saved up yet. Hence, they want to lock themselves in a new-built, giving them time to save up for the 3.5% down for an FHA loan. Just a couple of years out of college and living out there in California has not given them an opportunity to save. They have plans to move here with one working a temporary job (still looking for a permanent position) and the other joining soon with no permanent employment in place. They really don't even know how much property taxes in Texas costs, let alone signing a contract with the builder this weekend - so they said.
With hardly any savings and no permanent employment, this is definitely not a formula for homeownership success. This is easy for you and I to see, but not for some. Especially those "really hot" to do something right NOW.
Although I'm not the mother of my clients, I do think that I need to voice how I really feel. This is where I know I'm threading on thin water. My job is to guide them the best way I know how. At the same time, my paycheck is determined when someone closes on a property. But no way would I even put that above the interests of the people I serve. That is very clear on my mind. But telling them, No.... now may not be a good idea. Perhaps when one of them have a permanent position after they have saved some money over and above the down payment.
"No" now doesnt have to mean No forever. Just for short term. It might just be better to get things settled in first.
Telling adults "No" is a challenging task. Everyone wants something and they want it NOW mentality. You don't want to offend them because you don't want to burn the bridge. At the same time, I find it hard to represent them knowing this could very well not be a good idea for them.
Ahhh.... another day in a Realtor(R)'s life.
- Down-To-Earth Home Buying Tips
- The Real Hard Truth about Homeownership
- The True Cost of Homeownership
- Unconventional Advice for Newly Weds
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I proudly serve and sell real estate in the northern suburb cities of the Dallas metroplex. If you are thinking about purchasing or selling your home in neighborhoods of Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area and other surrounding areas and more importantly, want to work with a local area expert, contact me at your earliest convenience.
It is a competitive market, hence it is important that you choose to work with the realtor who knows these communities like none other. I employ a systematic market approach in selling your home - an intentionally unique proposal that most real estate agents do not use. If you care to be on your way to a successful closing, contact me immediately to see how different my proposition will be.
Contact: Copyright © 2009 by Loreena Yeo (3:16 team REALTY). Telling Adults "No" Is A Daunting Tricky Task.
Realtor®/ Broker of 3:16 team REALTY
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Copyright © 2009 by Loreena Yeo (3:16 team REALTY). Telling Adults "No" Is A Daunting Tricky Task.