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Need Conversion: What a Buyer Needs

As I have written before, the term “lead” is a four letter word that somehow became dirty. I have suggested a name change to “need” because converting a client means meeting their needs. First, a look at the buyer.

A buyer needs to:

  1. See ALL the listings the agent sees. This is need numero uno.
  2. Get as much up-to-date information about the listings as possible, including all available public information, without having to hand over name, rank and serial number.
  3. See pictures—lots of them—and video and virtual tours if available
  4. Know all about the neighborhood, amenities, schools, crime, jobs, green space, public transportation and other quality of life issues
  5. Know about any restrictions on use of the property or other legal issues which may impair the quiet use and enjoyment of the home
  6. Know the details of all the comparable homes for sale in the area and recent comparable sales in the area
  7. Have a home inspected by an experienced licensed inspector or engineer
  8. Know their creditworthiness and all about mortgage products they qualify to obtain
  9. Find a home quickly
  10. Have an experienced agent represent their interests ONLY (not the seller’s)
  11. Know all the costs of the purchase before reaching the closing table
  12. Know how the home purchase process works beforehand, as well as all their rights, including the right to negotiate the commission
  13. An experienced real estate agent to provide choices and explain the choices
  14. Understand the terms of the contract of sale before they sign
  15. Own a home they can afford


arrow4 Responses

  1. Hi

    I think it is a favor of buyers and I think very a nice subject.It is a choice of buyer and what does he want?

  2. Joseph Ferrara
    126 mos ago

    Sometimes a buyer doesn’t even know all their needs. A professional does best, IMO, by making the buyer aware of their needs and then serving to meet them. A buyer who knows what value a professional provides is better able to recommend them to others. And a referral is a gold, Jerry, gold.

  3. 126 mos ago

    well, but sometimes that information can’t be shared for legal reasons (like neighborhood diversity, etc.) or the house is in a state that doesn’t require the owner to disclose information. it’s up to the buyer to do some research on their own, too. also, i’m not why finding a home quickly is a need. maybe finding the right home to meet the buyer’s needs is more accurate.

  4. 126 mos ago

    I like the new nomenclature. “Need” is much better than “lead”. Lead alway felt a little cold and indifferent to these people. A lot of these “leads” end up becoming close friends and its always wierd to say back when they were a “lead”. Calling them a “need” better reflects how I think of new clients.

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