3 Homeowner Secrets Your Buyers Would Love to Know

June was Homeownership Month. And as a REALTOR, your job is to emphasize the value of homeownership. It's the product you sell, and you need to let people know that being a homeowner has significant financial advantages.

Here's the first one:

The average homeowner has 40 times the net worth of the average renter.

Why?

The number one reason is that every time you make your monthly mortgage payment, a portion goes towards principal reduction. It's like a forced savings account, building up over time. When you sell the property, you benefit from this accumulation.

Additionally, you have appreciation. Every year, the home's value increases, sometimes more, sometimes less, but over a 30-year mortgage, the property value generally rises.

On top of that, homeowners receive substantial tax benefits that renters don't.

These are three key reasons why someone should consider becoming a homeowner today.

Your job is to provide people with a path to homeownership. The biggest resistance point for many renters is the down payment. Many believe they need 20% down, but that's not true. FHA loans and many conventional loans only require 3.5% down, and sometimes sellers can contribute towards that. Veterans can get zero-down loans, so there are many opportunities.

Another challenge is credit scores. Many worry their score is too low.

For example, a 680 credit score qualifies for a loan. Some have lower scores, but if someone truly wants to become a homeowner, we can guide them. Work with a great lender who specializes in creating roadmaps for potential homeowners. If someone's credit score is 540, the lender can help them improve it to 650, 680, or higher.

By guiding people on this path, you'll create raving fans. Imagine helping someone improve their credit over a year or two and then assisting them in buying a house. They will refer you to many others.

Now, there's one last way to celebrate (belated) Homeownership Month:

Let every homeowner know their current home's value. Say, "June was Homeownership Month. I'm updating all my friends and family on their home's worth."

Offer unsolicited CMAs. Do two or three a day and watch your business grow.

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