H OUSING N EWS R EPORT
May 2016
home buyers will still be in homes for 30 years of their lives; it’s just more likely they will be a series of homes. So by helping protect the down payment, you ease a big part of the stress of home buying. This brings more buyers to the table who are more eager to pull the trigger when they get there. It gives seller agents more pricing authority, more offers and quicker sales. It moves the lending conversation beyond the morass of points and rates. And it frees up inventory by encouraging move-up buyers to sell. With down payments finally protected, agents sell more homes faster at a higher price. And they help their clients close on the American Dream.
back when they want to move. This will give homebuyers peace of mind, flexibility, and control.”
A superpower for agents
Although down payment protection chiefly benefits the buyer, it’s also a powerful new tool for any agent. A big part of an agents job is coaching the prospective buyer through the natural anxiety of committing to a major financial decision. Most buyers feel vulnerable in the transaction especially to banks, which seem to be holding all the cards. As Professor Wilcox says, down payment protection brings peace of mind, flexibility and control to the transaction. Flexibility is key. Modern homebuyers don’t want to be locked into a home when they might have to move, especially in an era when they can share cars, stream (versus buy) music and pay for smartphone service as they go. In this mobile society,
Joe Melendez is the founder and CEO of ValueInsured, the only provider of down payment protection for modern homebuyers.
SOURCE: RealtyTrac
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