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Guiding First-Time Buyers Toward Homeownership

How can you enhance your messaging?

A couple reviewing documents.

Millennials are still the largest group of today's first-time buyers.[1] But many of them, and younger generations, feel they don't have what it takes to buy a home. That’s why they need our help navigating their options.


92% of consumers consider homeownership important, but…[2]

About 90% overstate or don't know the minimum required down payment for a typical mortgage. 55% lack confidence about navigating the mortgage process. 19% choose to rent because they don't think they'd qualify for a mortgage. 32% don't know or significantly over/underestimate the minimum credit score required by lenders. 60% are unaware of counseling resources.


This outlook on the homebuying process comes from a lack of education and support. Buyers need someone to educate them about what it actually takes to buy a home, including sharing what financial resources are available to them. In fact, homebuyers cite real estate professionals as their most influential source for information.[2] This represents a huge opportunity for you and me.


First-time borrowers are looking to us to educate them and help them understand that homeownership is attainable. Working together, you and I can help today's homebuyers fully prepare for this important life milestone, so they can reach their goals confidently and quickly.


Closing the Knowledge Gap


I have access to a variety of educational resources that help first-time buyers understand everything that comes with buying a home, from setting a budget to finding a property to long-term home maintenance. You and I can co-brand these materials to position both of us as the trusted experts first-time buyers need. By establishing this relationship before they're ready to buy, we'll be the ones they come to when they're ready to take the leap.


 
Sources:
[1] National Association of Realtors®, Homebuyer and Seller Generational Trends, 2024.
[2] Fannie Mae Mortgage Understanding Study: 2023 Refresh.

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