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Every client presents an opportunity for repeat business and referrals, writes Jonathan Pressman. How can you ensure you impress them and stand out from the crowd?
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As an agent, distinguishing yourself from the competition can be a challenge. Every client presents an opportunity for repeat business and referrals, so how can you ensure you impress them and stand out from the crowd?
Here are five ways to wow your first-time buyer clients:
Talk to them about homeowners insurance
For first-time buyers, purchasing a home can be overwhelming. Most buyers focus on the home and the costs, neglecting to consider how they’ll protect themselves and their investment in the event of the unexpected.
If your client is taking out a mortgage, homeowners insurance is a requirement. Regardless of whether your client is financing their purchase or paying cash, make sure they have a policy that goes into effect at 12:01 a.m. the same day they close on the house.
The property becomes your client’s responsibility as soon as the deal closes, meaning they’ll need adequate protection against potential losses. Don’t let them wait until after closing to purchase insurance. Send them a few names of local insurance agents a week or two in advance and check in to make sure they’re covered before they sign the closing documents.
Explain savings opportunities with the homestead exemption
The homestead exemption can save your clients thousands of dollars each year on their property taxes. By helping your clients save money after you’ve earned your commission, they’ll know you have their best interests in mind and will almost certainly remember that when they’re ready for their next transaction.
The homestead exemption is only available for those who own their primary residence, and the deduction amount can vary by location.
Share a list of reliable local handymen and contractors
Many homeowners dread having to deal with contractors. Proactively providing a list of reliable handymen and contractors in the area shows you’re thinking about your client’s needs beyond buying and selling.
It also gives you another opportunity to go above and beyond the usual call of duty and can help you build relationships with contractors who might provide you with referrals in the future.
Remind them to speak with their accountant about tax write-offs
Nowadays, there aren’t many tax write-offs left for those who aren’t business owners or self-employed. Fortunately, being a homeowner still comes with a few tax benefits.
Reminding your clients of potential tax write-offs for mortgage interest and points, property taxes and closing costs highlights your value and industry expertise. In doing so, they’ll also see you’re committed to helping them save money.
Encourage them to set up (or update) their will
Discussions about mortality are difficult, but for first-time buyers, some basic estate planning is a must. Explain to your client that buying a home is the perfect time to set up (or update) their will, and encourage them to consider formalizing a plan so they won’t have to worry about it later.
Unless you’re also an estate planning attorney, you won’t have to go into any more detail than that.
Continue following up after closing
After the transaction is complete, follow up consistently with your clients to see how they’re doing. You might be their real estate agent, but you’re also a friend who is personally invested in their happiness and long-term success.
Checking in with your clients periodically shows you care and positions you to win repeat and referral business by staying top of mind.
Jonathan Pressman is a Realtor who writes on a wide range of financial topics. Connect with him on LinkedIn and Instagram.
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