Buying a home can be quite a process, especially for first-time buyers—and their agents. However, there are ways to streamline the buying process and save valuable time and speed up the home buying process for buyers and agents alike.

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Time Saving Tips for Agents and Buyers

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Get Educated.

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Agents 

The first thing real estate agents can do to help ease stress and save time is to sit down with the buyer and explain the home buying process in detail. Tell them what to expect, what they can do ahead of time to be prepared, and allow them to ask questions. Have a nice cheat sheet of real estate jargon you can share? Anything that can be helpful. You’re the expert, share what knowledge you can.

Make sure to cover their financing options and walk them through the entire home buying process from house hunting to closing. Remember, when your buyers are aware of the stages, procedures, timelines, and paperwork involved in the home buying process, they’ll feel more confident in their decisions and move quicker.

Buyers

The first step buyers can take to speed up the home buying process is to be prepared. Know your budget, make a list of your must-haves in a new home. When you know what you’re looking for and what you need, you’re less likely to waste time viewing properties that aren’t the right fit.

This is also the time to brush up on your local market trends. This is where your agent is a great resource. You can ask them about crime rates, schools, traffic. Also ask them about contacts that you might need—lenders, inspectors. This way you know what to look for and that you’ll have the support you need when you’re ready.

Be available.

Agents

Make sure your clients have your contact information and (if possible) be flexible with your availability. Respond to questions or concerns as quickly as you can and check in on your buyers regularly. Send updates and new listings whenever circumstances change. The more direct and forthcoming you are, the more likely you and your buyer are to stay in step and on schedule.

Buyers‍

When a market is hot, time can be the difference between getting the home and not getting it. So stay available to answer questions. Once contracts are drawn up, simply being available and organized could speed up the home transaction process and will ensure you can prevent potential delays on your end. Among contracts signed during the past three-month period as of January 2022, 23% of contracts were delayed. Of those that were delayed, 20% were due to appraisal issues and 24% were due to financing issues. Some delays you won’t be able to control. Control the ones you can!

Start the preapproval process early.

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Agents

Your buyers will need to get preapproved for a mortgage before sellers will take them seriously. As their agent, it’s important that you make yourself available to help them with their process should they ask. For example, if your buyer applies for a preapproval and finds out that they can’t afford the amount they were expecting, this should change your strategy. Stay in close contact. Have a lender you know is on-time and easy to work with? Recommend them.

Buyers

It can be tempting to jump right into the house hunting process, but it’s important to get pre-approved to understand what your financing options are. There’s lots of fees that go into purchasing a home, so thinking beyond just the listed price on your dream home is important.

Your pre approval letter will tell you exactly what a lender will loan you for a house and is based on your financial information such as income, assets, debt, and your credit score. A pre-approval letter will also add weight to your offer and will show sellers that you’re serious and prepared.

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Finalize all loose ends.

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Agents 

Keep an eye on all the necessary paperwork — contracts, agreements, and other documents —and ensure that everything is filled out correctly before submitting anything on behalf of your buyer. If they’re new to purchasing a home, make sure that they’ve signed everywhere they need to, as this may be the first time they’re seeing these types of documents.

Buyers

There are a number of details involved with the home transaction process. Some are so important that a sale can fall through if you’re not prepared. Make choices ahead of time. Would you be willing to go up in your offer? Are there any inspections you’re willing to skip? If you and your loved one are trying to get a home but one of you has better credit, are you comfortable having only one name on the mortgage? Each choice will help streamline the experience, which can be crucial when dealing with tight deadlines.

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Buy with cash.

With a cash offer on the table, the home buying process becomes much faster and more secure. When there’s no mortgage involved, buyers and agents don’t have to wait for the lender to approve, underwrite, and process the loan. Plus, there’s less paperwork and fewer people involved. This significantly reduces the amount of time waiting to close.

RibbonCash Offers helps your buyers by turning their offers into cash, which are 3x more likely to win. Ribbon’s offer is even stronger than a traditional cash offer because they also waive the appraisal contingency, home sale contingency, and the deal is guaranteed to close once the inspection period ends. Ribbon has a 100% on-time closing rate. Helpful for your buyer, and for you.

Speak with a Ribbon expert about how RibbonCash can help you save time and win. Book a free consultation today.