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.
- 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.
- 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.
- 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!
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!!