What would you consider to be most important when dealing with buyers in the new build market? We’d argue it’s communication, communication, communication.
Focus on the client experience
These buyers tend to be at the younger end of the scale. It’s likely to be their first home so it will be a special time for them. No matter how long you’ve been in the mortgage business, try and share in their excitement. Think about any concerns they may have and reassure them. A large part of this will be about being accessible and communicating regularly.
They won’t have been through the process before so it’s absolutely crucial that you keep them up to date at all stages. Even if the message is just to say that ‘not much has happened this week but everything is still OK,‘ that makes the difference between a 3 star service and a 5 star one. Consider how you can use technology to provide regular notifications. Use WhatsApp, FaceTime and text rather than just email. Dashboards let clients check in and see where everything is up to. Has their valuation been agreed? Has their application been approved? It will help them feel more in control.
Find the right type of lender
Search the market for a lender that understands the new build market; one that provides direct access to underwriters will help ensure a quick turnaround of applications and iron out any niggles at an early stage. Ask about flexibility in terms of extended offers as, inevitably, new build projects won’t always go to plan. What approach do they take to credit ratings?
It’s the little things…
And finally, providing a welcome pack in your buyer’s new home with a few essential items for their first day will make a great impression.
Find out what brokers think of Accord’s new build offering in this subtitled video