Breaking Down Seller Concessions & Giving Back – Brock Love
On this episode of The Closing Table, we sat down with Brock Love!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Brock Love…
The conversation starts with a fill-in-the-blank icebreaker on what sells a home faster, common mistakes of new homebuyers, and more. Brock then described his current market, the low country in Savannah, Georgia. The climate in the area is warm with mild winters and has many local things to do, including visiting the city squares, old homes, and numerous restaurants.
Moving on to real estate, Brock explains what seller concessions are and how they benefit buyers. These concessions can take many forms, such as paying closing fees, providing cash incentives to close faster, or offering a stipend for roof or paint repairs. Sellers use these concessions to entice buyers and close deals. He then discussed low or no money-down programs for homebuyers in Georgia. Some people mistakenly believe that “no money down” means they get a home without paying anything. However, buyers are still responsible for other fees and parties involved in the transaction. Low money-down programs, on the other hand, can provide financial assistance with down payments, but this assistance does not go towards equity in the home. He explains that if you are financing the entire value of the home, you will not have equity initially.
Next, he the Georgia Dream program, which helps low-income households with down payment assistance. This program offers a second mortgage with no monthly payments due until you refinance or sell. While the application process can be lengthy, it is a great opportunity for low-income households to become homeowners. Brock also discusses the USDA program and the qualifications necessary.
When asked about his emphasis on strengthening the local community, Brock talked about his support for small businesses in the area. He expressed his appreciation for Georgia’s hospitality and how he incorporates his support for local businesses into his work. The two then talked about the recently awarded Silver Award and named Rookie of the Year to Brock. To achieve the Silver Award, he had to achieve $2 million in sales. Despite starting in real estate while still working a full-time job, he felt lucky to receive the Rookie of the Year Award. He attributes his success to carrying himself with integrity and being dedicated to his clients.
The conversation wraps up with Brock sharing that outside of work, he fosters dogs for rescue agencies and loves animals. He often helps clients find pet-friendly homes and even fosters dogs from Renegade. He finds great joy in helping animals and people alike. When he has spare time, Brock reads novels. He recommends East of Eden by John Steinbeck as a book that has helped change his perspective in his professional career.
Check out Brock Love:
https://www.facebook.com/benjamin.b.love
https://www.facebook.com/profile.php?id=100063593501152
If you loved this episode subscribe so you never miss one! Want more The Closing Table content? Head over to our blog.