4 Ways Modern Agents Are Empowering New Homebuyers
As we enter a new decade, owning a home may seem even more like a far-fetched goal.
Buyers face an inventory shortage, especially for entry level homes; home prices and rents continue to rise, but not wages; and the entire home buying process is still very much a mystery to many renters. Affordability and saving for a down payment remain top concerns, keeping buyers on the sidelines.
But there are positive trends developing.
At Down Payment Resource, we’re encouraged to hear from many agents who are helping new homebuyers overcome these challenges by addressing them head on. And, just in time. The next three years are expected to produce more first time homebuyers than any point since the recession, according to a recent TransUnion report. The future of the housing market is here.
Here are 4 ways we see modern agents empower new buyers:
1. Dispel outdated homeownership myths.
- Agents are the primary gatekeepers and its critical they help dispel myths that may cause buyers to self-select themselves out of the market. It’s shocking that 65% of homebuyers believe they need 15% down or more, even though the average first-time homebuyer down payment is now just 6% and could be even less thanks to available homeownership programs.
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