The Power is Now

In Defense of First Time Home Buyer: Part 1

In Defense of Sellers: Don’t Forget Where You Came From Part I.

Sellers, It’s Time to Pay It Forward

Hello fellow homeowners,

Are you contemplating selling your home but find yourself facing uncertainties? Perhaps the current climate of high-interest rates and escalating real estate prices has you hesitating. It’s crucial to recognize that the time has come to move forward while also remembering where you started.

Let’s take a moment to reminisce. Do you recall the effort and dedication you invested when you purchased your first home? Did you rely on VA, USDA, or FHA loans, or did you benefit from a city grant or parental support? Did you experience housing shortages like those we face today, and what was your interest rate – 7% or even lower? If these situations sound familiar, it’s time to contemplate giving back.

Now, here’s the catch: if you haven’t considered selling your home with this perspective, it may be because you’ve been working with a listing agent focused on a quick sale, possibly neglecting diverse groups of potential buyers. Here’s the difference we advocate for.

Let’s embrace the idea of opening our doors to all types of buyers, including those who may not have a 20% down payment or those relying on VA or FHA loans. It’s time to discard preconceptions that a perfect buyer fits a specific mold. Let’s celebrate diversity and inclusion.

So, who is this seller we’re addressing? It could be someone from a family that never owned a home, a single parent striving to make ends meet, or an individual who overcame adversity to succeed. These are the sellers we focus on today – those who faced challenges and received assistance along the way.

We’d like to share inspiring stories of individuals who transformed their lives thanks to the support they received. Imagine someone who grew up in poverty, earned a scholarship, went to college, and purchased their first home with the help of education, grants, and scholarships. These stories illustrate the profound impact of a little assistance.

Now, what’s your story, Mr. or Mrs. Seller? Who extended a helping hand when you needed it most? Are you following your realtor’s advice or listening to your heart? It’s time to reflect on your journey and to pay it forward. By doing so, you can contribute to addressing the ongoing housing challenges in our nation.

But there are important considerations to address. Some agents discourage buyers from writing motivation letters or sharing personal details due to concerns about fair housing laws. However, sharing this information can help ensure no discrimination occurs. It’s time to be more transparent about clients’ circumstances and stories. Let’s document all offers received and have objective reasons for selecting an offer, beyond just the highest price.

Here’s our call to action for sellers:

  1. Recognize your home’s value and consider offering a seller credit, typically around 3%, to cover first-time homebuyers’ closing costs.
  2. Prioritize the highest offer, without letting the buyer’s financing type influence your decision.
  3. Avoid judgment of buyers using 100% financing or down payment assistance, and let’s not discriminate against the working class.
  4. Base decisions solely on merit and avoid discrimination based on race, color, place of origin, or sexual orientation. While you may not be privy to a buyer’s characteristics, your agent might be.
  5. Request motivation letters to understand your buyer’s story better. Your home may hold greater significance to them than you realize.

Sellers, you have the power to make a meaningful difference in the lives of First Time Homebuyers. If your home has been on the market for a while, consider offering a seller credit to cover closing costs and or for repairs, before lowering the price. Your challenge in selling your property quickly may be more about the terms or conditions of the property and not the price. Speak to your agent, share your story, and express your willingness to assist someone in need.

Reach out to your community and express your desire to sell your home to someone who truly needs it – perhaps a member of your church, tribe/club, nonprofit, or extended family. If you’re contemplating selling, reach out to me, and I can connect you with agents who understand the importance of paying it forward.

Remember, tomorrow never arrives. The time for change is now, and it starts with you, the seller. Sellers, let’s make the world a better place, one home at a time.

Unlock your full potential in Real Estate or Business today! Connect with Eric Lawrence Frazier MBA via telephone or video for a personalized consultation. Let’s shape a strategic plan together that will empower your journey to success.  Your Power Is Now – seize it!

Signature Line:

Eric Lawrence Frazier MBA
President | CEO
Real Estate & Mortgage Advisor

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