Tag Archives: working with buyers

What do I say when buyers call about my pending listing?

Getting buyers through the front door

What do I say when buyers call about my pending listing?

An agent recently told me that a buyer called about one of their listings that is under contract. I asked the agent how they handled the call and this is the response:

She was asking about my listing that is pending, so I let her know that if she had any questions, to feel free to ask and that if they can’t get this property, I can definitely help them find what they are looking for.

The offer of helping potential buyers with any additional questions is a good response, but I suggested the agent consider a more direct approach.

Mr./Ms. Buyer, As we discussed, the specific home you called about is under contract. I will keep you updated on the status of this home and I will inform you immediately should it come back on the market. In the meantime, let’s schedule a time this weekend to go out and visit similar homes in the area that match the size and price of this home.

You might want to try a more direct approach as well when dealing with home buyers calling on listings that are no longer available.

Find out what the buyer wants, give them what they want, if they do not buy, find out what they want.

It is not unusual to listen to an agent talk about their career buyer. You know the career buyer, right? They are always looking but never buying. Either they place offers that are ridiculously low or they never make an offer at all because they just can’t find the right home.

If you are going to work with buyers you should follow these steps:

Find them, find out what they want, give them what they want, if they do not buy, find out what they want.

Finding buyers

How you find buyers is up to you. The best way to find a buyer is to hang out where they hang out. Historically buyers have been know to hang out at open houses, they have been seen calling or stopping in an office during floor time, buyers have also been spotted associating with people you already know and an increasing number of buyers hang out around the internet.

Find out what they want

This is the qualification period in your relationship with the buyer. Qualifying a buyer goes beyond their financing. Finding out what a buyer wants involves understanding what type of home – style, pricing, location, enhancements – will motivate them to make a serious offer in an appropriate time frame.

Give them what they want

An agent who thoroughly knows the market will be able to easily identify all of the homes that match the buyer’s criteria. These are the homes you will want to present to the buyer and show them over the next few days.

Uh oh, the buyer is not buying you better find out what they want

So you have found the buyer, listened to them and thought you found out what they want but now they are not buying. It is time to re-qualify them in order to avoid having your very own career buyer.

Agent: Mr. Buyer when we first met we discussed in great detail the type of home you were interested in. You told me how many bedrooms you needed, the area you desired and you provided me with a price range that you would be willing to spend for the right home. You also indicated that you wanted to be in your new home within the next 60 days. Have your criteria or time frame changed?

The buyer’s answers to your questions will let you know whether you should modify your search criteria, hand them off to another agent in your office as a referral or stop showing them homes until they are really ready to buy.

Qualifying and then continuing to qualify your buyers during the buying process will result in you closing more transactions.

What day(s) are you free to look at houses?

There are a lot of buyers taking advantage of the home buying tax credit, the low mortgage rates and the low prices created by bank owned and short sale listings. As an agent your task is to find these buyers and then make sure that they use you when they purchase their next home.

The fact is there are a lot more real estate agents in any given market than there are home buyers. Being that the competition is so fierce you will want to do all that you can to keep the buyer loyal to you throughout the buyer’s house hunting process. To help accomplish this I would suggest you add the following question to your buyer pre-qualification script.

What day(s) are you free to look at houses?

Knowing the answer to this question is crucial to your success of being the agent that writes the offer for them. Whatever day or days they are going to be free to look at homes or drive by homes or call about homes they find online or in the paper should be the same day or days you are free to look at homes with them or drive by homes with them or be available to take their call about homes they have seen online or in the paper.

Of course with multiple customers and your busy schedule it is not possible to always be available when your buyers are but you will increase your sales production if you strive to be available more often than not. Make sure ask the buyer about their schedule; are they off work during the week? Do they have the entire weekend off? Can they get free on weeknights? Additionally make sure they know that you maintain a schedule that is conducive to helping buyers find and purchase homes so that they never feel like they are “bothering” you.

The floor agent who asks this question up front will close more transactions than the agents who never find out what the buyer’s schedule is.

Your buyers will appreciate your great attitude!

What Do Buyers Appreciate?

I asked Irena and Suzanne Aistrop to offer their insight to this question.  Irena and Suzanne are multi-million dollar producing agents with Watson Realty Corp. in Central Florida.

When working with buyers real estate agents may be surprised to learn that it’s the simple personality traits that are most appealing. Simply enjoying what you do can make a big difference.

Buyers don’t want to spend the day with an agent who is grumpy and annoyed that the market isn’t booming like in 2005, they want someone who has a positive attitude and someone who shows enthusiasm.

Along with these qualities, being personal, attentive, professional and having good listening skills are also appreciated.