High Demand for Buyer Boot Camps

The purchase process can be complicated. A growing number of real estate professionals from across the country are stepping up to offer clients home buyer workshops. Agents say the public demand for such workshops is growing.

First-time home buyer workshops are becoming more commonplace, according to U.S. News & World Report. Real estate professionals, lenders, and agencies approved by the U.S. Department of Housing and Urban Development are offering buyers tips about everything from getting approved for a mortgage and making an offer, to preparing to close on a home.

Consumers are “coming in fresh and brand new and just wanting to understand the whole process,” says Darlene Bharath, a housing counselor for Belair-Edison Neighborhoods Inc., a HUD-approved counseling agency in Baltimore.

Jessica Diaz, a real estate pro for Coldwell Banker Residential Services in Atlanta, conducts first-time home buyer workshops with colleagues. Some clients decided to list their home with Diaz after attending one of her workshops. Even those who had bought before were wanting to take a refresher course.

“It took the edge off, because [buying and selling] can be scary to do at the same time,” Diaz says.

Real estate pros are using workshops to walk consumers through some of the most challenging aspects of buying or selling. At these buyer or seller workshops, real estate professionals are highlighting some important points:

  • The importance of your credit history and how to improve it, if necessary.
  • Preapproval is a must in this type of market; here’s why and how to do it.
  • Check into assistance programs and whether you qualify, whether it’s for a down payment assistance program, a grant for the purchase price of your home, or another form of monetary assistance.
  • How to start your home search online and the real estate professional’s role in finding you houses, touring them, and helping you to narrow your options.
  • The professionals involved in a home sale or purchase, including the real estate professional, lender, home inspector, the title representative, and others.
  • Learning about the negotiation process, due diligence, and what to expect at closing.

Source: “8 Things You Can Learn From a First-Time Homebuyer Boot Camp,” U.S. News & World Report (Aug. 2, 2017)