What I tell my agents is to have a process of qualification, educate the client that there is a "process" and what your steps are, and finally, be prepared to follow through if someone is not following your outline.
So in your case. Do you require a Buyer-Broker Agreement signed before you accept someone as a customer? Do you ensure that they are pre-qualified with a trusted lender before you show them any homes? Do you have a referral agent in your office who you can pass one someone who is not working with you towards their next home purchase?
Think about how a doctor operates. You never see one until you take their required steps.
Meet the receptionist, pay your deductible, speak to a nurse, get weighed (the part I don't like) and then see the doctor for 5 minutes.
Like that, you need to have your own qualification steps before you take someone on.
Finally, be prepared to discontinue working with someone who is browsing, but pass that on to another who may be better luck selling them something and you'll earn a referral fee.
I hope it helps.
Our biggest challenge in Sacramento right now is the lack of inventory compared to the number of buyers. REO's are selling faster than we can list them and most with multiple offers. Buyers are very frustrated and quite frankly, have lost some of the trust that they have in the Realtor's ability to get them into a property. Who better to blame than the Realtor! Hopefully very soon, with the lift in the REO moratorium, we'll have a flood of inventory. According to ForeclosureRadar.com, the inventory is coming! Our focus now is to manage the buyer's emotions and help them to be prepared.
What I've found works is to be the 'trusted advisor' ~ to educate them on our current market. With the use of tools, graphs, local data, you can quickly show them that when they find a home that meets their needs, they need to write an offer. With the banks pricing the homes below market, they need to be prepared to come in at or over asking price. It's not uncommon for the cash buyer to win, so it make take MANY offers to be successful. Buyers just have to be patient and a good advisor can help them understand that process.
I don't like to be pushy either, but a certain amount of confidence is necessary to win them over. If you have 50 leads, chances are there's a number of good potential clients in that group. Do your best to get their email address and phone #'s at the open house so that you can begin providing them with REO's as soon as they hit the market. Be the real estate resource that WILL return their calls and emails promptly. I have a questionnaire that I use at open houses that works pretty well. The top half asks for feedback about the listing (which most buyers are happy to give) and then the bottom half asks about their home search and offers my services. I'm happy to email that to you if you'd like it.
Carol Kellogg, Manager
Lyon Real Estate
To paraphrase, "over 50 percent of â€œLookie-Louâ€™sâ€ will buy in the next 12 months,â€ but some of you have commented that its better to pass these future buyers along to other agents & focus most of their energy on those clients who they believe are most likely to buy now. More than 50 percent of â€œLookie-Louâ€™sâ€ will buy in 12 months from someone! So why give them up?
It works like this: we give potential homebuyers their own personal, password-protected website to access the online listing of homes for sale. The homebuyer is given a detailed listing of homes matching their personal search criteria. In addition to the usual bedroom, bath, square footage, and lot size information, the site also provides homebuyers with notifications about new listings & instant price reduction alerts on their saved properties, plus they can do their own searches.
For the most part, "its hands free driving," folks, freeing us up to focus our limited time on the clients we know are ready to buy, now.
If you don't have a system in place to handle these leads, are you going to miss future opportunities and income? This "Lead Incubator" captures the â€œjust lookersâ€ and places them on our radar, allowing both of us to tag-team the potential buyer when we're alerted that the time is right & its time to strike. We know this because we get detailed reports every morning on the activities of our contacts, pointing out the ones showing strong buying signs, if they havenâ€™t already contacted us. It also allows serious buyers the freedom to access everything in the market from the convenience of one site and to save the data they collect.
Best of all, this real estate selling system features our business card including the picture and full contact details exclusively of the Realtor and their team working with the buyer. Because buyers who use the system log in about 53 times a month, the Realtor has over 600 opportunities to put their name, face & phone number in front of the buyer over the course of a year. Do you think they feel like they know you?
May I suggest you find a competent loan originator in your area who provides this Home Buyers Marketing service & ask them if they have room to work with you. I provide this tool to the Realtors I work with, and it works!
All the best,
Roswell Moore, CMPS
Certified Mortgage Planner
(480) 422-5095 Direct
Remember many company's will say sure no problem, but from my experiance ther are only a few who will give it to you straight. That's what we all need to stay within our comfort zone. the next step is to exchange names and number. tell them i'll put togat3er a list of your need's togather at your price range and hopefully we'll be able to add some of your want's to the home, keeping it as close to your need's as possible, there's always a little wiggle room. i'll put the info in a folder for you and leave it at the front desk if I'm not here, but if i have an idea when you'll be here i'll wait for you i'd love to meet with you..
On that first face to face bring out your buyer agency paper and imideatly say this is a law not a contract and say something about it and they sign it.
Of course at the begginning you've already asked if there working with another agent. no of course not will be the answer! Now talk ab out the house and what they will change when they get it, laugh a little more, maybe tell them i have a few more in the are i'd like to show you and by the way " if you think we can work togather i'd really like to work for youmandn ifn your gettinng that samen feeling why don't we sighn this exclusive agent
IF we find the home you are looking for today, are you prepared to BUY?
Last week I had a buyer with $75,000 cash to put down wanting a $150,000 home.
When I asked this question before showing him homes, he answered with YES, I want to buy and I have $75,000 cash to put down. I again asked, so when we find the "deal" you are looking for you are prepared to make an offer?
He replied with, I can't ... TODAY .... I just lost my job, thought I'd find a good deal in a home while I'm off work. :)
Important to find out when they want to buy and are they prepared to buy TODAY.
Hope this helps in qualifying your leads.
Cheryl Skinner-Marble, Exit Realty of Lakeland, Realtor
Top Exit Sales Team in Florida 2008
I hope that this helps.
James Blaylock, REALTOR
Keller Williams Realty