New homers make up a big part of the emerging real estate market, but many people who would previously have been considered of homebuying age are more
New homers make up a big part of the emerging real estate market, but many people who would previously have been considered of homebuying age are more equipped to rent due to factors ranging from recent recessions and elections to student loans.
Another important segment of the market is those who currently own homes but are looking to upsize, downsize, or relocate. This can include families who are growing in size and are searching for more appropriate accommodations, aging populations who are looking to downsize or pass their homes off to the next generation of their families, and those who are responding to cultural and economic shifts by searching for employment in new markets.
Planning relocation is no simple task, even for a professional and especially for a layperson. There are many factors to consider, and getting a good picture of all of the relevant angles from which to view your client’s situation will serve you both well in making their relocation as smooth and successful as possible.
As a real estate professional, you also have the opportunity to build or solidify a relationship by helping to see your client through each step in such a convoluted and often stressful process.
Assess reasons for relocation
The most important piece of information is arguably the reason your client gives for relocation. The decision to relocate can be rooted in positive, negative, or neutral prompts. A growing family, a promotion, or the inspiration of a new and better life can be extremely inspiring during the arduous process of finding a new home and selling one’s old one.
On the other hand, some reasons for relocation are not as rosy. Local economies may have tanked, or personal tragedies or unexpected changes may have required your client to move to a new style of home or even a new area. It is important that no matter the reason your client gives for relocation, you understand their background as well as the stress that may be tied up in the move.
This stress goes beyond the inherent stress of moving and is more related to the factors that influenced the move. You may need to play the role of cheerleader or counselor in addition to real estate agent or broker, depending on the personal history of your client and the reason they are searching for a new home.
Try to create a seamless experience
No real estate endeavor is going to be perfect, and this is especially true when a client is trying to sell an existing home and search for a new one. They will inevitably be emotionally invested both in their former property and in the idea that their future one represents a step toward growth and a better future.
As an agent, you can assure them that all parts of the process will run as smoothly as possible in your hands. Make sure they are aware that you are focused on all parts of the move, and that they won’t wind up paying two mortgages or regretting what has the potential to become one of the best decisions of their lives.