Wednesday, November 10, 2010

Sales Tip 107: "How to Dispose of Current Property in Order to Buy a New One"

One of the biggest challenges facing new home sales reps today is not that buyers don't want to buy a new home, but rather they can't sell their current one in order to move to their new residence. While a Guaranteed Rental is not for everyone, it is worth exploring in the early stages of negotiations with a potential buyer.
1. Mention from the get-go "Have you considered renting your current home if it does not sell?" Many Sales reps are afraid to go there... or rather... introduce this concept too late into the process and the buyers are not enthusiastic about the possibilities...
2. Make sure that when you are qualifying them you get them qualified with 2 mortgages. The lenders will only consider a portion of their rental income... not the entire rental income
3. Have a qualified Real Estate agent on call that you can refer them to to help them set a realistic rental price
4. Remember, that as the housing market slowing improves, so will the prospect of them selling the house in the future while being able living in the house of their dreams now

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