Although most prosperous listing agents represent home or property sellers in the real estate industry, a majority of these agents get their commissions by acting as buyer’s agents in a real estate transaction. If you are one of those agents who deal with buyers, use these top ten tips on how to successfully deal with most potential home owners.
10. Qualify Your Prospects:
Instead of wasting most of your time following low-quality buyer leads that are probably not motivated to buying, you should ensure that you qualify your prospects. Even if you are so experienced in offering favorable interest rates or inventory levels, chances of convincing a buyer who doesn’t see any need for such state of urgency, you cannot increase your interest levels. If a potential buyer lacks such qualities just go to the next one.
9. Working with a committed base of clientele:
Don’t ask a potential client whether he or she is working with another agent, but instead ask whether he or she is committed to another client! The difference is, you want a client who can work with the philosophy of commitment. Unlike the clients that you choose to “work” with, who might actually leave you empty-handed if they decide to leave, you can get compensation for your “committed” clients. You can design a strategy of showing your new clients a new property once you have tested his or her commitment first; this way you’ll start dealing with clients who have gained loyalty with you.
8. Avoid assuming that a client is already committed:
You should avoid wishful thinking at all times if you are a real estate agent. It doesn’t mean that a client who comes to your house, calls you up after hearing your ad or hits on your website’s ads is already committed! Just know that the buyer is still shopping and you are in competition with all the other agents in the marketplace.
7. Asking for and Wining an Appointment:
You should ensure that you get face-to-face appointments with your prospects, regardless of whether they are sellers or buyers, so that you can extensively showcase your value to them in the most perfect way. Strive to close deals in these appointments followed by a commission check, if you want to be a successful agent.
6. Countering Typical Buyer Misconceptions should be top priority:
Most buyers and even sellers especially the first timers usually come to an appointment meeting with a list of misconceptions about the real estate industry and its agents at large. You ought to take time and review some of the most probable questions that such clients may have so as to know how to counter them and allay their fears. It’s your duty to explode those perfection myths about getting the right house by consulting with your potential clients widely.
5. Explaining the kind of Services You Provide:
It’s not healthy for an agent to just assume that the buyers already know what your work is and that is why they are seeking your services. Instead, you should take time to explain yourself and distinguish yourself from the other agents. In other words, just convince the potential client that you are the best candidate in the marketplace. You should give your clients the current real estate conditions in the market and how you will help him or her get the best house in the market.
4. Developing some good partnership with a lender:
To avoid increasing the odds to the fact, that you might end up with a lender in the mortgage industry who doesn’t give you favorable conditions you should create a partnership with a lender from the initial stages. Moreover, getting a lender from the initial stages will help you know the buyer’s financial qualifications so as to avoid dealing with buyers who are probably just wasting your time and yet they don’t have the potential of owning a home.
3. Asking your Buyer Prospects enough Questions:
Contrary to common belief, most people don’t like listening to the spiel from salespeople! Instead, most of the buyer prospects would want their needs and concerns addressed. With the right questions you will get the information that you are looking for and which will actually help you. You should also establish good confidence and build rapport with your clients.
2. Taking Control:
Working with sellers is deemed to be cheaper than working with buyers because the latter are more likely to work with more than one agent. The lofty and unrealistic expectations of most buyers make them a very complex area to pursue. You have to solve the confusion by creating solutions to their worries.
1. It is OK to say No:
Sometimes you have to be careful to avoid putting your license to practice at risk. For instance, if the buyer asks you to do shoddy deals with money that that has a covered trail, then you should simply say no and move on. Don’t allow buyers who ask you to write preposterous offers which might destroy your reputation among other agents and sellers.