Governor Hobbs,
I am inspired by your initiative to help approximately 500 Arizona first-time homebuyers with down payment and interest rate assistance.
As a result, I asked my best 72SOLD Realtors across the state to provide free representation to help buyers in the new program purchase a home. They all enthusiastically said, “Yes.”
This means homebuyers in the program will have the opportunity to receive a cash credit at closing of the entire commission that their 72SOLD Realtors would have earned. This should make purchasing a home even more affordable.
I am also an attorney and when I practiced law, my 50-100 hours a year of pro bono work was incredibly gratifying. The 72SOLD Realtors who offered their time for this endeavor are similarly excited to give back to the community.
Rising home prices and high interest rates have prevented many hard working Arizonans from achieving the dream of homeownership. You recognized it. You did something about it.
I have no “ask” of you, just a thank you.
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That is a letter I recently wrote to Arizona Governor Katie Hobbs praising her efforts to help low and moderate income first-time homebuyers in Arizona.
If you read the Phoenix Business Journal, you probably saw the article released on April 12 which started by saying, “Gov. Katie Hobbs has rolled out a new $13 million housing program to increase home ownership in Arizona. Called Arizona is Home, the program is expected to help about 500 people with their mortgage down payments and interest rates.”
I was honored to be quoted in the article as well:
“When Greg Hague heard about the program, the founder of Phoenix-based 72SOLD said he was so inspired that he plans to launch a companion program through which his best real estate agents across the state will help first-time homebuyers purchase a home and take advantage of this new program at no charge. He said his agents will waive back 100% of the commissions they might earn to the buyers on the purchase of their homes.
‘That is money that can be used for closing costs, moving costs and home improvement costs. This is an opportunity for the real estate industry to do our part in helping Arizonans capture the American dream of homeownership. I intend to do my part.’”
Appreciating home prices and higher interest rates have made it extremely difficult for first-time homebuyers to share in the American dream. Since these buyers have not previously owned a home, they haven’t benefited from accumulated equity that Arizona homeowners have enjoyed over the years. This makes it even more difficult for those who are trying to purchase their first home. Combine that with fast rising prices and high interest rates, and it’s clear why first time homebuyers need help.
That is why I was so thrilled to see Governor Hobbs step in and do something about it in my home state. Government exists for the good of the people, and this is a stellar example of that.
Inspired by her initiative, I reached out to a group of my 72SOLD agents across Arizona and a large number of them volunteered to do what attorneys do…work pro bono for first-time homebuyers participating in the governor’s new program. These agents graciously agreed to help first-time homebuyers in the program by waiving back any commission they would earn as a credit to the buyer at closing. This is a proud moment for our state, for our government, and for the company I founded.
While it was my idea, the real kudos go to the group of about 100 72SOLD agents who will do the hard work. They are going to give up their time and absorb the expense of helping these first-time homebuyers. Hats off to all of my agents who raised their hands, volunteering to help.
If you know somebody who would like to purchase their first home in Arizona, encourage them to go to this link: 72SoldFirstHome.com. They can enroll in the program and if they qualify, a 72SOLD agent will give them full service representation free of charge.
My right arm on this project, the amazing Martha Thompson, is a veteran 72SOLD agent and one of our most esteemed national coaches. Martha is overseeing the coordination of our agents participating in this project, She will be connecting first time homebuyers with the agents who specialize in areas they are looking.
You can email FirstHome@72SOLD.com for more information.
This is my “first time” writing a letter to our current governor. As I said in the sign off of my letter…
I have no “ask” of you, just a thank you.
