Am I Wasting My Time With These Buyers? (Podcast)

Am I Wasting My Time With These Buyers? (Podcast)

Am I Wasting My Time With These Buyers?

My first year in real estate, I’d jump at the opportunity to work with anyone that would let me show them houses. I was ambitious, determined, and green. After showing one particular  family houses over the course of 6 weeks, I eventually realized that they were never going to buy anything, and that they were just wasting my time.

I had to be honest with myself, look in the mirror, and figure out what I’d done wrong.

It’s completely normal to get excited when you’re a new agent, and take whatever comes your way. You rationalize with yourself, don’t take the proper steps to qualify your client, and before you know it, you’re in over your head with a client who’s looked at dozens of houses, and gives no indication that they’re going to put in an offer.

First things first, determine the level of need. There are three types of buyers.

  1. The “Want To” Buyer – These folks have no real need to buy a home, and they usually say something like “If we come across the right house, we’ll buy it.” I’m not saying that you shouldn’t work with these folks, but you shouldn’t give them the lion’s share of your time. Just keep the relationship going, and send them the houses that meet their specifications.
  2. The “Need To” Buyer – These folks usually have a life change coming up, or are already in a house that isn’t meeting their current needs. Usually, the timing’s just not right – the lease isn’t up, the kids are still in school, or they’re busy with work. Be on the hunt with these folks, and when you see something that’s perfect for them, take them to see it. The right house can change their timing, but again, keep your expectations in check.
  3. The “Have To” buyer – You just sold their house, their lease is up, or they need to get in the right school district before school starts. You want to make sure and communicate with these clients every day, and be showing as much as their and your schedule will allow.

 

To hear the rest of my buyer strategy, listen to the Real Estate Ninja Podcast, and join the discussion with Brett Creager and myself!

Download this episode (right click and save)

Comment below with your worst buyer story. The winner gets a free ticket to The Empower Conference, where on June 7th,  Athena Captain, Kyle Draper, and I will get you back on track to finish your year strong!!

 

5 Responses

  1. This was a great podcast! A few months ago I was working with a single lady. She had been looking for a few months at this point. She loved the house but not the location. She was strongly considering making an offer until we got outside. One of the neighbors 5 year old walked up to us and said watch out for the clowns. They’re coming… my client freaked out and decided to pass on the house.

    1. LOL!! This one’s gonna be hard to beat…

  2. I have one divorced father who has been out with me three times searching for a house with a pool and theater room. He won’t talk about his time line or exactly what he wants. I have been emailing him since October and he is checking his portal but not responding to messages. I also have a couple who wants to buy a bigger house so they can entertain. Their daughter is in
    College and hasn’t moved out yet. I’ve taken them house shopping seven times. I could really use
    This class 😊 thank you for the info 👍

  3. I worked with some clients who wanted a historical home and some of those beautiful houses are not far from some that are, well, not so great. This particular house sat just a couple homes in from a main road & a convenience store. I asked them if that was a problem for them and they said they didn’t mind. As we were walking in we heard a man and a woman screaming at each other at the Tope of their lungs, having a domestic. They were calling each other names and it’s was MFr this and MFr that, with lots of other colorful words mixed in that we could hear quite clearly. My buyers decided pretty quick maybe they didn’t want to live so close to the busy road & convenience store after all.

  4. I had a buyer from a nearby town who is a licensed Realtor. I trusted her since she knows the business. They had a large budget & were paying cash. I spent time showing her some homes and jumping through hoops to get her into homes that we would pass along the way. Her list of needs/wants was a mile long, so I did a lot of research over several months and sent her dozens of homes. Well, once she settled on a particular area, she said that if I have a listing in that area then she would work with me, and “why would I use a Realtor when I have my license?” When I explained how much effort I had put into her search, she said, “I know how long it takes to send an email. Not long.”

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