Working With Buyers
Working With Buyers
There is one group of prospective clients who literally "have $$$ burning a hole in their pockets" ... BUYERS! Buyers will bring you income in the shortest amount of time - but in some cases with the most amount of time invested ... seriously, unless you "pre-frame" your buyers expectations and get them to do the leg work for you, you may spend more time with buyers than any other client or customer.
There are 3 main systems for working with buyers:
- Buyer Consultation
- The Search System
- The Showing & Offer System
In the Buyer Consultation System you will educate your buyers with information that is designed to have them "take control and ownership" of their buying process. The ingredients of the system include:
- A Home Buyer Workbook (much like your Pre-List Package, but geared to buyers). This is a multi-page book written for our local market by Sheila. It is available in Powerpoint so that you can make it your own.
- The Buyer Questionnaire (a written form with the specific questions that track the buyer book to get you to KNOW what your buyers wants & needs are).
- Lender Package (the buyer must be PRE-APPROVED prior to physical showings)
The Search System consists of: After the buyer consultation, go directly to the computer. Let the buyers know that they are the ones picking out the homes they want to see, not you the agent making decisions for them. Help them narrow down their focus by telling them ahead of town what their result will be: i.e., 'we'll find 10-15 houses and print them out. Then we'll narrow that down to 6-8 homes. As we look at these homes, you'll compare each one to the one before and chose the favorite and by the end of the day, you will have found the best house for you" This works and I constantly met and sold buyers in just one day.
You can also use this consultative process for buyers who won't be ready for 3months to 3 years. By bringing them in for the consultation you can explain that then while they're waiting for the right time, they'll have a focus. You'll be surprised how quickly they become current buyers. Also, once they have the consultation, they're YOURS!
If you can't get a commitment to receive the buyer book and questionnaire, then you can start them out as below:
- An Automated Email Search system (automated to send the buyers new listings that match their specific search criteria)
- A Feedback Package (includes instructions and materials for dealing with Open Houses, FSBO's and new construction) Recommended is a Buyer's Passport, available on the CRS site. The book likes like a passport, contains your business cards and has pages that the buyer fills in as they vist an open house. That way it's easy to remember to give the open house agent your business card.
The Showing & Offer System includes:
- A Buyer Agreement (that you will always be able to complete PRIOR to placing the buyer in your car)
- A Buyer Showing Package (for use during the actual home showings).
When you utilize these 3 systems, you will either have the buyer doing most of the actual home search process, and only meet with you when they have narrowed the search to a 4-6 homes in 2-3 neighborhoods and are ready to BUY! OR the buyers will meet with you, have a consultation and then go directly on a buying trip. Either way, you win!
Buyers are "instant" money and can convert to closings within the next 30-60 days. Call me at 317-867-0177 if you have any questions, it will be my pleasure to help in any way that I can.
