Type A: A tendency towards tenseness, impatience, and aggressiveness.Type B: A tendency towards a relaxed manner, patience, and friendliness.
Both of these personality types have their merits, and both tendencies exist in all of us to some degree. But when it comes to home buyers, Type As are the ones you want to be working with.
Kathi McLean, a real estate superstar who, with her husband, averages more than $40 million per year in volume, says their turning point was when they decided to seek one type of customer over another. "We had spent an inordinate amount of time on people who drained a huge amount of energy," she says. "We made a conscious decision to cut out those kinds of clients. We stuck to our guns, and within a very short time, our business just took off."
So who makes better buyers, Type As or Type Bs? Well, Type A buyers are the ones who are urgently seeking a home. They have a deadline and a willingness to make concessions to get what they want. They're probably moving to the area, trying to get out of an apartment, or are otherwise motivated.
Type B buyers, on the other hand, are lazily looking around, probably already in a home, or just looking for a new place. Maybe they want a smaller home now that the kids are gone, or something with an additional room or two. But they're not in a hurry; they're willing to pass on deals that don't match their specifications exactly.
When you realize a buyer is Type B, you must do everything to bring out their Type A personality. Remember, everyone has some A and some B - it's your job to guide their mood towards a home. Here are some tips:
- Encourage all of your clients to get pre-approved. Not only does this show their willingness to move forward with the process, it gives you more power to negotiate by knowing exactly what they can afford. If your clients refuse to get pre-approved, this could be a big red flag, a clear sign of a Type B personality that's just out to waste your time.
Remember, if you hear them say, "Oh, we're just looking," it's up to you to get them excitedly and aggressively seeking a new home. Let them know that waiting for further price reductions won't do much good if interest rates increase in the meantime. With today's stricter credit guidelines, waiting could mean not qualifying to buy the home at all!
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Darrell, Thanks for some very interesting points. I have to figure out where my buyers fit in - Type A or B!