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Working With Buyers
When we walk into the grocery store, how many of us go in with a list of what we are going to get? We have a plan before we ever walk into the store to make sure we don't forget the ingredients we need to make our meals. There are always extra items we find in addition to what we started out to pick up, but the essentials are collected. Now, with an executed plan, we are free to create the meals we planned without missing an ingredient. Hopefully, the meals come out the way we planned so we can enjoy them. The chances are greater, and the time we spend at the actual store is less. The key factor, however, is motivation. The motivation for going to the grocery store in the first place. WE ARE HUNGRY. Or will be soon. Going to a grocery store hungry is probably not a good idea, as it will probably negatively affect the plan for future meals.
You're probably saying to yourself, "Wait a minute, I thought I was reading a blog on working with buyers?" You are. That captivating first paragraph is to grab your attention, and here comes the boom. Working with buyers is a lot like going to the grocery store. If you are desperately hungry, and without a plan, you will be working with them forever, and end up with very little in your cart. Or in some cases with absolutely nothing in your cart.
Just like going to the grocery store in the first place, MOTIVATION is a key place to start when working with buyers. If they don't have a clear motive to find a home to purchase, chances are they won't purchase a home. So, be clear, and concise with them on why they are looking to begin with? Downsizing? Upsizing? Job transfers? Has been renting and ready to buy their first home? Whatever the motivation is, find it! As you go through the process, make sure to remind them why they started this home purchase journey to begin with. You will find that motivation has the power to ratify a contract or never even write one.
The next important aspect of working with buyer's is to have a plan. Developing a plan doesn't mean that you can't adjust the plan later. Its just a guide to start with to hopefully find the right home for your buyers. Having a plan will increase the odds that you do. So, ask them, "What are you looking for in your new home?" "Floor plan? style of home? backyard? town homes? etc". Again, remind them as you go through the process their own words that they shared with you at the beginning. This will help you keep them on track. There are A LOT of homes out there, and more listing everyday. A person can literally look forever. We as professional realtors, and buyer's agents, cannot look forever with one buyer or buyer couple. It's just not economically feasible for that much time to be spent looking. Don't let the plan become muddled with homes that will not work for them based on what they shared with you.
Be honest, and clear with the buyers. How often do we buy grocery items that we either end up not eating, or we really don't like to begin with. But we think "Well this is healthy" or "I'll eat only this to change my eating habits". Let's start being honest with ourselves, and for goodness sake be honest with the buyers. If they have ridiculous expectations, or cannot comprehend that what the market holds is what the market holds, then let them know. Of course in a nice way. We are here to assist and guide, but also we make a living from closings, not showings. A narrow statement of thought I know, but it's true. We don't get paid to show homes. If we did, we would be making a ton of money given the average number of homes we show. So be honest, always. It's always the best path.
Finally, we have to know when it's time to leave. I could stay in the grocery store FOREVER. But not everything in there is what I need, or is really even good for me. The same is for a buyer. Some buyers are just not worth the strain, and stress it puts on us. The profession is difficult enough with all the unknowns that can occur even after you procure a sales contract. Because they will make the rest of your business ill. This is not to say, give up. Don't ever give up. Sometimes you just have to toss the "spoiled" items, and go find fresher ones.
You don’t choose a home because you love the paint color. No, an investment this big demands in-depth knowledge so that you can buy with confidence. That’s where I come in. As an agent with Berk....