A break up with significant other? Expanding the family? Look for urgency in their response. Also be upfront. I ask: "If I show you an apartment today that you like, are you prepared to submit an application on the spot?" Put that action in their head and kick them of the fence of indecision. You also must qualify whether they are an A+ prospect (urgent, financially sound, responsive, organized) or D- (they can move anytime, they have weak financials, cancels appointments, they are dealing with multiple brokers.) Not all leads are created equal. Spend most your energies with A+ to B- leads. I wish you the best of luck in this business. You're going to need it! ;-)
Focus on the leads that are in a "must" situation first. I must buy or need to sell my home client. Those that are just looking or seeking information i.e. exploring places for them on, place on a marketing campaign to keep in touch with them.
The "must" are those clients that you sign a buyer agreement and need to buy w/i 90 days or less. Sellers that are motivated to sell.
Best of Luck
This sounds like a conversation you should be having with your Broker. Signs of a prospect not wanting to commit could include :Will not sign Buyer's Agreement. Do not want to give basic information. Tell you they are working with other agents. Testing the market etc.
Tammy Hayes, Realtor
Re/Max Palm Realty
This is the hardest part of this business!
How to tell when a lead is serious, how to know when to cut someone loose?
Please note you will get burned. There will be someone who appears motivated and will allow you to show them multiple homes, just to end up not closing any kind of a deal with you.
The rule I was taught by my first broker (which I do not always follow, and each time I did not I got burned) Here is the rule:
Have a sit down with the client first. Get a clear detailed list of what they desire in a home. If they say they want to buy get them pre approved before you show them anything, if they want to rent view their credit report and pay stubs before you show them anything.
Show them four homes with their specs and within their price range, if they do no submit an offer to buy or application to rent on any of the four, then chances are they are not serious (at least not now)
You van say to them "I have shown you several properties in your price range and with the specs you indicated you wanted, and you have decided to pass on them". "are you sure you are ready to move now, or would you like to take more time to think things over?
Welcome to the business, I wish you the very best!
Kawain Payne, Realtor
What is the average days on market?
If properties in your market average 30 days or less and your client is not ready to make a decision within a couple of weeks after you have shown them every property that is available in the market that meets their criteria, they're not committed.
How is the inventory? One discussion I have every day with other agents is the difference between low inventory and poor/over-priced inventory.
If you have a very low quality inventory, prices steadily increasing and market is not expected to change any time soon, yet, your clients want to continue to wait, they're not committed.
Who is the most probable purchaser?
If market is investor/all cash driven and your clients purchase is subject to financing, yet, your clients insist on making low offers on the very few properties that are in the market, they're not committed.
These are 3 examples of "LET GO AND RUN" specifically related to the market I service. How is yours?
A conversation with prospective clients about goals and timelines is useful. If the timeline is far out, ask why but don't try and change their mind. You're filling your pipeline of business, so timelines shouldn't really matter.
When you sense a lack of commitment, ask if the prospective client is working with another agent or if they have a relative who is an agent. When you ask people direct questions in a kind, but businesslike manner, they'll usually answer honestly. You can then decide if you want to continue with them or not.
Some people will run you around and have you working for them and then do business with someone else. Don't fall for it.
You sound like you're super motivated and ready to deliver great client service, but not everyone is deserving of your time and effort. It's okay to let people go.
Host open house often to meet prospective clients. I've had people I've met at open house buy or sell right away and others who have waited years. It's all about that business pipeline. When the client is ready, so are you.