The biggest challenge in today's real estate market, specifically for homebuyers, is affordability. Inventory is low. Interest rates are higher than they’ve been in a decade. Home prices have gone up. This presents new challenges for real estate agents as well. In this episode, host Dan Lesniak outlines 5 ways that agents can help buyers tackle affordability. They include: educating potential buyers on rate buydowns; analyzing adjustable-rate mortgages as an option for them; helping them consider making a higher down payment to lower monthly payments and possibly lock-in a better interest rate; being more aggressive with going after selling concessions; and house hacking in a variety of ways, such as bringing in a roommate or renting out the other side of a duplex. This is a time for agents and buyers to get creative so that buyers can be able to afford the right house for them.
Join GUEST and Host Dan Lesniak as they discuss…
∙ Putting the issue of affordability of buying a home in context – comparing it to renting.
∙ Looking for lenders with free refinancing options.
∙ How increasing a down payment can reduce monthly payments and lock-in lower rates.
∙ How seller concessions and house hacking can make getting into a home more affordable.
QUOTES TO SHARE
💬 “When they're renting, they're still paying the high mortgage rate, they're just paying the mortgage rate for their landlord.” - Dan Lesniak
💬 “You need to have some hard conversations up front, figure out what their budget is…” - Dan Lesniak
💬 “We've got declining inventories, less homes for sale than almost anytime in United States history” - Dan Lesniak
💬 “I've seen some house hacking scenarios where people are not only getting their mortgage covered, they're actually getting positive cash flow and living for free.” - Dan Lesniak
If you are ready to join eXp realty and would like Dan Lesniak to personally sponsor you so you have access to two nationally recognized coaching programs text 703-638-4393.