First time car buyers often need to be assisted with the buying process. Identify another group of customers who might need special assistance the first time they buy. How can you increase their...
First time car buyers often need to be assisted with the buying process. Identify another group of customers who might need special assistance the first time they buy. How can you increase their comfort level during the purchasing process?
Another group of customers who might need special assistance the first time they buy would be first-time home buyers.
The fear of carrying a large debt can be quite overwhelming and can contribute to feelings of buyer’s remorse at the closing table. Even the risk of losing a large amount of earnest money or possibly be sued may not supersede the fear of having a potential 30-year mortgage debt. To increase the comfort level during the purchasing process I recommend the following:
To learn the basic process involved in purchasing a home, I strongly recommend that potential home buyers attend a home buying workshop or class. Preferable selecting a workshop or class that is conducted by a bank or credit union. Mortgage lenders know the process and in a better position to explain the credit application process. Also, this is the time the potential buyers can begin establishing a relationship with the lender.
If potential home buyers prefer to attend a home buying workshop or class through other venues such as a real estate office seminar or a community home buying program agency, I recommend potential home buyers ask if a lender will also be present. This will help the potential home buyers still get as much information on the lending process prior to speaking to a bank lender.
Finally, unless the real estate agent has a Buyer Agency Agreement signed by the potential home buyer, the real estate agent's duty is to the seller. A Buyer Agency Agreement establishes exclusive terms between the buyer and the real estate agent. This agreement establishes a strong advocacy on behalf of the buyer and with a strong relationship with the lender, a first-time home buyer could have a better comfort level during this whole home buying process.
Another area in which first time buyers have problems is computer technology. Even if people have used computers before, they often are bewildered by the sheer number of options available and the technical terminology. Often, they do not understand which sorts of computer characteristics are needed for which applications.
One way to make people more comfortable when shopping for computers is to focus not on specifications and technical terminology but on functionality. Instead of asking how much RAM people want or what sort of video cards, develop a script for talking with new users that starts out with questions about how they intend to use the system and explain at each stage how that will affect the system that works best for them.
For example, you might ask if they normally work in one location, such as an office or home office, whether they need a portable system, or whether they work mainly at home but sometimes travel. Then you can talk about the relative merits of towers, laptops, or flexible systems (laptops with docking stations, convertible laptop/tablet hybrids) in terms of the trade-offs of portability, price, and power. Rather than using complicated tech talk, just explain that laptops are more expensive than equivalent desktops (everyone understands the concept of "more bang for your buck").
Next, you should ask them what they will do with the computer. Someone who plays video games needs a system quite different than a business user, and an avid photographer needs more storage than someone who just does social media and homework. The more you focus on customer needs rather than technology, the more comfortable the new buyer will be.