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Andy Ogorzaly, Real Estate Pro in Oak Park, IL

What is your average amount of showings you will go out on with buyers before they close on one?

Asked by Andy Ogorzaly, Oak Park, IL Sat May 26, 2012

What is your average total time spent with a buyer client? From consult to closing.

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22
Michael A Stangel’s answer
Andy,

This really depends on how much research you have done on an area and feel comfortable with. If you are unfamiliar with an area, it will take longer to get to know the housing choices/location differences of the area. So, it can range from 2 or 3 homes, to over 20 homes.

I always consult with the buyer prior to showing homes to help them find the home that best meets their needs.

Thanks,
Mike Stangel
0 votes Thank Flag Link Tue May 29, 2012
Hi Andy! For clients that are serious and focused, I certainly don't mind showing them 50+ homes in a relatively short period of time (2 weeks or so) to help fully educate them on everything about the market. When showings are quick and consolidated, clients can quickly determine exactly they like and don't like, and can make fully informed decisions. Second and third showings will be longer and more detailed, of course. In general, most clients see between 10-15 homes before they decide to make a serious offer, but I want to make sure they don't ever feel rushed during the process. I probably spend at least 15-20 hours with each serious client, but if I were to log the hours appropriately, I'm sure most clients get a lot more of my time than I think!
2 votes Thank Flag Link Sun May 27, 2012
I think it depends on two things: the client and your business load. Some buyers need more time, aren't 100 percent sure of what they really want, and have to see them all. If you've got more business than you want/need/can handle, refer them out. But, if you have some time and haven't reached your business target, take the time and show them what they need. With some clients you'll get lucky and never show them a single property, they'll see it online from out of town and make a purchase sight-unseen. You just never know!
1 vote Thank Flag Link Sat Jun 2, 2012
This will vary completely from buyer to buyer. Some buyers are focused and can narrow down their choices online before requesting showings, others need to see the entire market to feel like they are making an informed decision. We support either method.

On average I would expect 15 to 35 homes shown, and 20-30 hours per client file.
Web Reference: http://www.chicagorea.com
1 vote Thank Flag Link Mon May 28, 2012
Its different everytime. I have some clients that can find something in the first few times out. Then I have others that need about 30-50 viewings before they know what they want. You got to take it case by case.
1 vote Thank Flag Link Mon May 28, 2012
We have buyer consultations. This has really helped decrease the number of showings per buyer. We recently had a "buyer" say that they wanted to see EVERYTHING in their price range. We promptly referred them out. The agent we referred them too fired them after a few times out. This is a business, not a hobby.

Great question by the way!
1 vote Thank Flag Link Sun May 27, 2012
Good for you!
Flag Thu May 31, 2012
HI Andy-This may be a longer answer than you were lookin for....my job is to listen to what my client is saying and not saying. Help them to narrow down what they are looking for (the needs and wants), then to review the inventory focusing in for them. Anyone can be a taxi driver...... A buyer is hiring an agent to guide them in the purchase process, but also make things easier and more efficient. Initially, I will show the client 5-7 places. This helps to build a picture in my mind from the feedback they provide and also help them focus in themselves. The second time out, we may see a few they liked initially then say 3-4 more. Usually, the 3rd time out we have zeroed in and they are ready to write. So, to answer your question-12-15 places? Total time, 2-3 weeks and then the 30-45 days to close. Hours? B/w showings, research, inspections, administration of paperwork/calls/lender/atty dealings/walk through/etc.- 15-20 hours?
1 vote Thank Flag Link Sun May 27, 2012
It depends on the Buyer. Some people want to see everything out there so they're know when they find the right home that they've researched the market. Some people want their Realtor to weed out the inventory for a multitude of reasons: maybe they're too busy or they get overwhelmed with too much information. As a Realtor we need to discuss the clients' needs with them from the beginning and make a mutually beneficial plan.
Overall, I'd say 10 - 15 showings.
1 vote Thank Flag Link Sat May 26, 2012
Hi, The answer to this all depends on how focused and realistic the buyers are. If there is a decent amount of inventory that meets their specific criteria it can happen on the first showing. I've had this happena few times but don't bank on it at all. I take alot of time in the beginning helping my clients zone in on what they really want, this spares us from wasting time down the road. If they are finding homes but just not pulling the trigger then there could be an emotional block that will need to be addressed. Every buyer is different and should be handled in a way that helps them feel comfortable with the decision they are making.

Chris
0 votes Thank Flag Link Mon Jun 4, 2012
Have sold a home many times after one outing and others have worked with me "seasonally" for three summers or over a year.
0 votes Thank Flag Link Mon Jun 4, 2012
Wow...don't know that anyone keeps these kinds of records but most agents get the feeling fairly erly on whether or not the buyers are motivated for a quick purchase or one in the distant future.
A guesstimate for the average amount of time spent showing property, supporting their interests, answering questions, and championing the purchase prcess would be 40-60 hours.

I'll be anxious to see what others contribute.

Bill
0 votes Thank Flag Link Sun Jun 3, 2012
NAR reports the average to be 12 homes. Not to far off from what others have reported.

Tom's (NC) approach is exceptional and one I try to adhere to. Unfortunately, the extreme lack of inventory compels a default position of , "Let's see what's out there."

Too often the buyer is seeing real estate for sale on Zillow or Trulia and can not comprehend these are fictitious and will result in chasing vapors. The credibility gap between fact and fiction can create uncertainty in the mind of a buyer.

Including consultation,research, promotion, negotiation, attending inspection, appraisal and closing wrap up, testimonial video, quality assurance review, the average hours per transaction is 57.4

The work may be completed by me or delegated, it however still must be done and paid for directly or indirectly by me.

When working with buyer it is critical to get a positive response to the question, "When the property you like is found, are you intending to use me as your agent?"
0 votes Thank Flag Link Sun Jun 3, 2012
I think the answers here are going to vary a great deal for several reasons. First agents are independent business owners and we all choose to run our businesses differently. Second we all specialize in different types of markets and have different levels of experience. My process is a bit different than many agents I spend about 2 hours at the first meeting asking pointed questions, working hand in hand with the client on internet searches and education then we go tour the 5-6 homes they have selected. I find more work on the front end usually decreases the number of homes shown and quickly narrows the scope of the home we are looking for. To show just for the sake of showing is not advantageous to the business model I am trying to create. Usually after 2-3 times out they are ready to make an offer. I think the trick is to find their top 3-5 needs and continuously focus on homes which fit those goals. The pre-game meeting/planning session is the key for me in having more closed transactions.
0 votes Thank Flag Link Sat Jun 2, 2012
It is said that you should be able to take a client(s) out to 5-7 homes. Normally, I do not expierence this. I show as many houses as need to get the client(s) highest level of satisfaction. This can come in as little as 3 homes shown, and with one client we saw roughly about 50 homes over a years time. so it just varies.
0 votes Thank Flag Link Fri Jun 1, 2012
Varies from buyer to buyer. Some buyers are will decide after the first showing depending if they found what want in the home that showed them and some will continue to look. It can sometimes take months of showing before a buyer submits an offer.
0 votes Thank Flag Link Mon May 28, 2012
6 to 10 MAX.

However, we do sit down for an hour our two prior going though the following:

1. Location
2. Type of home and size
3. Location
4. Price
5 Location
6. drive distance to work, schools, shopping
7. Location
9. You get the idea

We do this on the Big Screen Computer in my office. And narrow down to 6 to 10 properties.

The first day we do 4 properties, than get lots of feedback.
Find out what they liked and did not like. Change the criteria if needed.

next day 4 more. By that time they are down to the their TOP 2 or 3 picks

Day three we start with One or Two New and back to their TOP 2 or 3 picks.

That does in 90% of the time.

Good Luck
Tom
0 votes Thank Flag Link Sun May 27, 2012
It varies; 1 client, we viewed over 40+, 2 clients, our first viewing, and maybe, per my average, 10-20 viewings before they closed.
0 votes Thank Flag Link Sun May 27, 2012
We'll look at 2 or 3 homes and I'll spend about 20 hours on the entire process.
0 votes Thank Flag Link Sun May 27, 2012
I don't keep track, but probably should. I've estimated it a few times at 20-40 hours from start to finish. I'm in NV, but thought I'd chime in anyway...
0 votes Thank Flag Link Sat May 26, 2012
Prepare the buyer before you even go out. Interview them to see what their needs are and make sure they are prequalified.
0 votes Thank Flag Link Sat May 26, 2012
I would say the average is 10, but I have a client that I have shown over 80 properties. I have endless patience because I understand what a huge decision this is for many buyers.
0 votes Thank Flag Link Sat May 26, 2012
I have shown 3 and sold one and I have shown 40 and sold none. I guess if I was to pick an average it would be around 10-12.
0 votes Thank Flag Link Sat May 26, 2012
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