As a Real Estate Broker and a member of the real estate industry for 28 years, Annette has been a top producer moving hundreds of units, year after year. She has worked tirelessly to achieve her goals and further her development as one of the country’s leading women in the real estate industry. Annette is also an inspirational coach, community volunteer, and has launched a new FREE service to help seniors and their families through housing transitions.
Millennials are Finding Value in Buying Their First Home
Trevor Medema, Farmington, Michigan, was 22 when he closed on his first home. He had just graduated from Albion College with his Bachelor’s degree and was determined that real estate was his direction. He followed in the footsteps of his mother, Annette Compo, a Broker for over 30 years, and he saw his role helping millennial clients as one of an adviser and educator with their next large purchase, their first home.
“I’ve been there and taken the first steps and experienced what my clients have, because I’m a millennial too, and honestly a little nervous even though my mom was walking me through each step,” Trevor said. “I now want to help them navigate this market in a timely manner and show them that buying their first home is a great first step and can set them up for financial success. I have gone on to buy an investment home, land, and a commercial multi-use building as well.”
By joining with his mom at the Annette Compo Home Team at Keller Williams, he has been able to leverage relationships with vendors to support his clients to a higher level. With the real estate market being very competitive to buyers, there are some strategies that he has used to secure his offers are chosen over more experienced agents by the sellers of the home. With these relationships in mortgage, title, and inspection, he creates a strategy around meeting the goal of negotiating the sale of his client’s dream home to the closing table at the lowest cost.
Trevor sits down with his clients and isn’t afraid to tell them when a purchase doesn’t make sense, and when it does, and educates them so they can see all of their options. “We, Millennials, like options, and we like to make educated decisions. “
For example, one client’s lender said they could only afford up to a $150,000 FHA loan. Trevor connected them with a loan officer who ironically was his athletic partner during the off season of football in high school at Detroit Country Day.
“One of the many things my mom coached me to do when I was younger, was to network and build relationships. My preferred lender, Greg Goddard from Summit Funding, and I have worked side by side for years together.“ By having this relationship to leverage, Greg fell into place with outstanding response time, better options for the clients and the clients saved money on their first home.
Myths Versus Facts
Even with a solid lender, homeownership can feel out of reach for millennials who are saddled with student debt and high home prices. Trevor Medema recognized this and has the grit to help them replace homeownership fears with facts, unveiling the possibilities hiding behind the myths.
Trevor likes to share these myths that he was able to overcome when buying his first home:
Renting is cheaper than buying.
Coming out of college or mom and dad’s home, millennials can be hesitant to make a large purchase or take on extra debt. Trevor can help with running a rent-versus-buy scenario for a client’s area, which often shows it’s more affordable to buy than rent, especially in higher rent areas. He leveraged this when he was looking into renting vs buying and saw the financial number unfold to reveal that he could save money by owning.
I need a lot of money saved for my down payment.
Trevor shares how this isn’t the case. “Conventional, USDA and FHA home loans offer options with 0-3% down payment,” he says. Many times the money that you need to buy a home is less than paying your security deposit, rent, and application fees for a potential rental”.
Partnering with Keller Williams was the next step that he knew was critical after taking Gary Keller’s class Quantum Leap during his sophomore year in college. This class taught Trevor how to break down a goal that he wanted to accomplish in his life, find out how important it is him, leverage resources to obtain it, and find the grit to pursue and work towards it. Keller Williams has also shown Trevor the value in technology tools that help his clients find their dream home faster and easier.
If you have any questions, about your next step in buying your first home, you can contact Trevor Medema at 248-808-8738 or firstname.lastname@example.org