Working with buyers is difficult. Itâ€™s no wonder most real estate agents would rather list homes and avoid spending a lot of time dealing with buyers. Home buyers are demanding, fickle, sometimes emotional, sometimes unrealistic, but always there waiting for an agent to help them.
Even though many home buyers think they want to do it alone, Iâ€™ve found most eventually ask a Realtor for help. They may not want a contractual relationship with a buyer agent, but they want assistance.
Many have gone from listing agent to listing agent and they are tired of looking for homes that way, so the buyer is in between, they donâ€™t want to sign a buyer agent agreement but they want guidance.
If you decide to work with home buyers you will have to capture them soon and you will have to impress them with service. Most buyers donâ€™t know what they can get from a real estate agent until they get itâ€”then they like it.
Buyers now are going online and making a request to an agent with a website, or going through a company like HomeGain that offers helpâ€”they want listings or information about a listing or areaâ€”they are sticking their toes in the water, to see what the response will be.
If the response is immediate and it offers help, then the buyer will likely go further.
Upon the first significant contact is the time to impress the buyer with service.
- Offer gobs of homes to consider.
- Offer an automatic notifier of all new listings.
- Give them links to informational sites.
- Offer them information on the homes they like and offer to make showing appointments.
- Offer everything you have of value without being pushy, demanding or overwhelming.
Then follow upâ€”nothing impresses a buyer more than following up.
Working with buyers can be rewarding if you get into the mindset of a buyer agentâ€”and it is a different mindset than a listing agent. There will be times when you have many buyers and they are all asking for something, and perhaps none of them are making a decisionâ€”this is a crossroad, because the temptation is to call it all a waste and go back to strictly listing, marketing and waiting on a response.
However, if you stick with it and fill your pipeline, you will begin seeing results year roundâ€”those home buyers youâ€™ve been sending information to for 4 months will finally come in to town and buy, then the pipe starts flowing.
But it takes awhile to get results and this is where agents have a problem because itâ€™s not producing immediate income like a listing might in a normal market.
Be sure you want to work with home buyers because itâ€™s a big commitment and the payoff is not immediateâ€”and itâ€™s a lot of hard work.
Doing both is what many agents doâ€”there arenâ€™t very many exclusive buyer agents anymore, but you will probably find yourself leaning one way more than the other, this is why to be effective you have to commit to working with buyers.
If youâ€™re doing it half-heartedly because you have a few listings to depend on, then the results will likely be poor.