Realtors® Reveal: 4 Ways They Calm First-Time Buyer Anxieties

Fifty-six percent of prospective first-time homebuyers feel hopeless or overwhelmed about buying their first home, and 64% are deterred from buying because they’re intimidated by the process, according to a survey by BPG Inspections. While homebuying is a huge decision, Realtors® are here to help.  

PAR asked Realtors® how they calm first-time homebuyer anxieties. Here’s what they said. 

1. Telling Their Own Story 

“I tell the story about my first time I bought my own house and all the challenges, frustrations, disappointments, excitement and, ultimately, happiness – feelings most buyers will feel during the process,” PAR President David Dean says, adding that his own experience buying his first house played a critical role in his decision to become a Realtor®.  

“Then I explain that because of my first-hand experience and 21+ years of experience, I can help them through these feelings and come out the other end feeling less stressed and more hopeful,” he says. 

“Will I magically be able to wave a wand and say, ‘I’ve got this,’ and everything will be stress-free? No. But I’ve found that telling a story keeps the buyer more engaged, more comfortable working with me and more realistic about their feelings and the buying process itself. That’s my best gift to first-time homebuyers.” 

2. Having a Detailed Consultation 

“I definitely agree the homebuying process can feel overwhelming, especially to first-time homebuyers,” President-Elect Eric Rehling says. “I always try to sit down with first-time buyers and explain that homebuying is a process, not an event. In that initial meeting, I can answer their questions, talk about the emotions involved and set out a visual roadmap for success relative to their unique situation.” 

“When the process is broken down into smaller, tangible goals, I find it can really help reduce the anxiety. Most of us like a five-day weather forecast because it reduces the fear of the unknown – an initial consultation can have the same impact. Giving them space to flush out their fears, questions, etc.” 

District 2 Vice President Michael Maerten seconds this strategy. 

“I learned a long time ago that there are first-time homebuyer anxieties regardless of market conditions,” Maerten says. “Yes, first-time buyers today are entering an extremely complex market. One point I want to instill in them is that I am their advocate, their consultant and their guide during the journey.” 

“Having a fully prepared consultation process with questions designed to learn more about what they are looking for, what their finances allow for and what their goals are really helps. I have a three-page questionnaire that we go over in person to help guide our journey. We go over the buying process, the closing costs, how I show homes and what financing options exist to help them either afford more or lower their budgets.” 

“The key for me has always been that consultation,” he says. “It’s the foundation to starting off on the right foot with a buyer.” 

3. Keeping Buyers Informed and Staying Positive 

“I find that my first-time homebuyers are very anxious and overwhelmed,” District 5 Vice President Terry Solomon-August agrees. “I try very hard to keep them informed of the market trends and the process of purchasing a home. Sometimes the fear of the unknown makes anxieties much higher.” 

“I also try to keep the hunt for a home as laid back and fun as possible,” she adds. “I keep with the ‘everything happens for a reason’ mentality. It can get hard to keep buyers positive, especially after so many disappointments. I find that if I stay positive, it usually is contagious!” 

District 8 Vice President Douglas Meagher echoes the importance of positivity, adding, “The most effective way to ease a client’s anxiety during the homebuying process is to project confidence. As a Realtor®, you are the expert. Reassure clients that you will guide them through every step of the transaction. Rather than telling them what to do, focus on educating them so they can make informed decisions on their own.” 

“If buyers do not need to be ‘under roof’ immediately, encourage patience when the right home does not appear right away. Set expectations early by explaining that there is often a lull in activity between going under contract and closing, as the lender and title company work behind the scenes.” 

“Above all,” Meagher recommends, “Be supportive and patient, especially with buyers who ask many questions. Remember, while you’ve navigated this process hundreds of times, for them it’s entirely new.” 

4. Showing Successes and Setting Expectations 

“I have found the easiest way to calm first-time buyer anxieties is to simply show buyers what to expect,” says District 4 Vice President Jason Burkholder. “We all hear stories; we all know people lose. However, first-time buyers succeed every day!” 

“Everyone’s story is unique, and many people in the same price range or life event spaces as them have had the same thoughts. So, I share with them recent stories of folks in similar situations to theirs who have been successful. We sit down and go over the process, what happens and when it’s supposed to happen, and I especially like to go over the math with them.” 

“The internet is full of information that is simply wrong, or overwhelming, when it comes to affordability,” Burkholder notes. “People don’t know what to believe. When I sit down and go over the process, showing them not just what they can afford, but how we came up with that number, it demystifies the process, and we can empower them with the confidence they need to go out shopping, because they know what matters most to them.”