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.
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.