I guess I really shouldn't be surprised but I am always caught off guard when my buyer clients start out saying they want one thing and within a couple of visits make a complete 180 and want something different.

Now, before my fellow real estate professional tell me I should have a thorough and complete buyer consultation at the outset of a home search -- I do.  No, not 100% of the time.  I do like to get a good fix on what my buyers want, though, so I don't spend a whole lot of time riding around, burning gas, putting wear and tear on my car and filling out feedback forms for listing agents.

Here's an example: new buyer clients say they're interested in a certain area because they want their kids to go to a certain school.  They've already done the research and this school is the school. Great! Narrows down the geographic area (or does it?). They also tell me they want a certain number of bedrooms and baths, single family home, etc. etc.  They have it pretty well narrowed down (or do they?).  Oh yeah. Foreclosures. They want to look at foreclosures because they've heard they're a "deal". (or are they?)

This sounds great, I think to myself.  We'll look at the 10 homes that match their criteria. They'll pick one and we'll go happily to settlement in a month or two.

Well.....almost.

After the first outing, they've decided that maybe foreclosed homes aren't such a great deal. They're all trashed and/or gutted and/or have water damage. They've decided that the "plain vanilla" sales (where the Seller have some equity and doesn't need that pesky "third party approval") are just too plain. Now they want to expand the geographic ares (wait. what about the school?) and they even want to look at new construction (whoa. that's a change from foreclosures!), they want to look at a new price range, too.  Hmmmm.

All this is OK.  They're financially qualified and, hey, they can live where they want, right?  It's just that it always amazes me that people start out with one idea of what they want and then completely change course. It's as if they never had that initial consultation about what they wanted and why.

If I were a cynical person, I might suspect that home buyers tell their Realtor consultants what they think we want to hear or, maybe, what they think their friends told them would be a good deal.  Or, maybe, they just don't know themselves.  That's possible and that's why we Realtors try to get our buyer clients to focus.

Sure, sometimes it's fun just to go out to look at different houses to see what's out there or to get decorating tips or maybe see what $400,000 gets you in the MD Suburbs of DC vs Bismark, ND.  Most of the time, though, maybe even the vast majority of the time, it is the wiser path to know what you want and go after it (within your financial ability).

Knowing what you want goes a long way to actaully getting what you want.

 
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58 Comments on Focus..Focus..Focus

SEP
02
834,895 Points 213 Featured Posts Localism Sponsor Outside Blog Hit Router

It's deja vu all over again.

I've heard every one of those requiests.  The one that tickles me is, "We want to look at foreclosures or new construction". 

Fact is, if a buyer is a serious buyer, they'll quickly learn the market and learn to focus, focus, focus.

 

7:52am • #1
321,031 Points 40 Featured Posts Outside Blog

Ken--I wonder if the couple I took around this summer in MN has expanded their search into MD after I cut them loose...LOL. Some people just don't know what they want.

7:54am • #2
327,088 Points 5 Featured Posts Outside Blog

Don't get me started. . that's  is why I do not work with buyers anymore. . FREEEEDOMMM!!

8:02am • #3

Did you forget your hat Carnac the Magnificent?  Did you knot know that one of the pre-requisites in this biz is to be able to read minds...sheesh :)

8:06am • #4
130,487 Points 1 Featured Post

Sometimes what you think you want is not what you really want. I have (hate to admit it) done the same thing when I had my buyers cap on.

8:11am • #5

Hi, Ken:

I need to do more up-front consultations myself. I am guilty of meeting buyers at the first house on the list to see (horrors!). Then I take them around to the other showings, and as we go, I educate them. But the best education is actually showing them what foreclosures typically look like, what new homes actually cost, and most of all what they can get in their price range. I have even taken buyers to look at homes that they took off their list. Sometimes I have sold them. It just takes some experience, some questioning, and some educating. As Kristi suggests, some ESP doesn't hurt either.

I love buyers! I have been there many a time, and I can relate to them.

Cheers,

Robin

8:12am • #6
117,193 Points 6 Featured Posts Localism Sponsor

Lenn - No matter how many times I tell people foreclosures and short sales are not the "deals" they think they are the buyers always want to see them.

Teri - Could be!  =)

Fernando -- I honestly prefer listings but buyers who are focused are a pure joy to work with sometimes.

8:13am • #7
2 Featured Posts

Ken,

Buyers think they know what they want, but in the end they buy the best house they possibly can for the money. It's about value, not about their initial ideas of what they want.

8:13am • #8
5 Featured Posts Outside Blog

Ain't it the truth? You give them exactly what they said they wanted....turns out they want the complete opposite. How did THAT happen? It amazes me that so many people don't know what they want!

8:14am • #9
117,193 Points 6 Featured Posts Localism Sponsor

Kristi -- one of my biggest weaknesses is that I take what people say at face value.  I realize it's a shortcoming. =)

Dick and Dixie -- Which is why when I want to buy something I try to think it through and research a little. I don't overdo it but being clear really helps.

Robin -- I've done the same thing (meet buyers at the first house). Sometimes that's a good way to begin building the rapport and trust you need.  I usually like to get pretty focused ealy on, though.  I've been with too many buyers who take almost a year to decide.  Markets change too quickly.

 

8:18am • #10
479,145 Points 41 Featured Posts Localism Sponsor Outside Blog Hit Router

Ken-terrific post.  If a buyer doesn't know what they are looking for then we certainly won't be able to find it for them.  Sometimes figuring out that what they want doesn't exist is aided by having them sit next to us in front of the MLS readng the agent "secret" remarks.  Surprise the listing says NO FHA, NO VA, CASH ONLY is a good clue the cute bungalow may not be quite as cute as they thought.

8:18am • #11
1 Featured Post

Hello my friend Ken!  Nice to see your featured post!  And you always crack me up!  I enjoy your writing!  Your BRO friend ~ Nyssa

8:58am • #12
278,779 Points 42 Featured Posts Localism Sponsor Outside Blog

KEN-  The Reality of Realty is that although they may think they know what they want, once they are actually standing in the house they discover what they may have thought was right is completely wrong.  It happens a lot. 

I have a couple whom I love dearly but they are totally on oposite ends of the spectrum when it comes to findng their vacation home- She is leaning twoards palactial estate and he...well just wants a place on the lake to fish!  Somewhere in the middle I will find them a palacial lakeside estate in their price range. 

Good Luck Ken and sell well!

9:07am • #13
Localism Sponsor Hit Router

Ken,

I can identify with your experiences with buyers who change their minds completely from the initial buyer consultation. It has a lot to do with their listening and watching media which distort their options.  On one hand they seek professional real estate help; on the other they want to take control of the situation.  Most buyers are a joy...really! I have learned, primarily by disappointment, to make my buyers go through a few hoops to see if we are compatible.  I should note that this is a learning process for both buyers and their agent.  Without trust it's difficult to complete the "course."  Still, even recently, I have been left with frustration over buyers who then decided they didn't need or want my services.

Thanks for a wonderful, poignant blog, Ken! 

9:11am • #14
151,314 Points 4 Featured Posts

I heard the buyers changing their minds and taking you all over creation has been declared a new spectator sport at the Olympics. 

9:22am • #15

Well, that is where the the old adage "buyers are liars" came from. Haven't you ever been in a store thinking, "gee I need to buy a bathing suit, then happen to walk by the designer jeans and completely change your mind as to what you are spending your money on that day and walk out with jeans and no bathing suit?  I use the same thought process when dealing with buyers (after much frustration of the "changing of the mind" over the years.) No matter what they tell me, I pretty much figure it is not going to be what they end up with (price range is usually where they are close to true) and show them everything available in their price range. 

Diana Hoyt
9:32am • #16

I think it's inevitable.  After all, if I go to the store to buy an appliance, even if I've researched in advance, I may find that the one I thought was "the one" just isn't suitable after all.

How much more so for a multifaceted purchase like a home?  So many options, so many tradeoffs, so much interplay between dreams and reality.  I have sympathy for these buyers, if they're qualified and motivated!

9:38am • #17
1 Featured Post Outside Blog

Hi Ken ~ I really like this post. It's so true! It would be frustrating, except we know it's a process and it's only when a buyer is actually out there that they can see whether or not their ideas align with their expectations in a home.

Of course they are sometimes so adamant about their choices that we totally get thrown for a loop when they do the 180 on us. Particularly the question about schools...You'd think that would be unshakeable. I've come to realize it's only unshakeable if their child is already at that school. Otherwise it's just a "nice to have" part of their criteria, not a "must have".

As you can tell, I've learned from past experience and now tend the re-evaluate whether we're all still on the same page at regular intervals. After all, we all change our minds sometimes, right?

Denise

10:01am • #18

Buyers would focus faster if they were paying for our services as they go. You know like you do if you hire an attorney who charges for every phone call.

Great post!

Linda Metallo, Re/max Impact, Lockport, Il.

Linda Metallo, Re/max Impact
10:16am • #19

Hello Ken,

I think buyers are the same regardless what part of the country you are in. One method that I find to be pretty tried and true is do as you are going (narrow the geographical area) then go pre-view homes in that area that your client says they are interested in.

I make it a habbit to only show a make of six homes at any meeting. Also I only show homes that I have previewed. I always take them to the best home first. As the homes I show them (because they are the ones I select and in the order I want them to see them) start to look worse and worse; They realize that I do know what I am talking about and their confidence in my professional ability increases.

Also during the interview process, be sure to ask not only "what" they want, but ask deeper questions like "What will that look like if you get or don't get that". Most times at the end of this process you become very familiar with the differences of the "Would like to have" things, vs the "I cannot live without" things.

Of course you must be sure of their ability to purchase and have your lender on stand-by.

Eric LaMay

http://www.starstatehomes.com

817-886-8111

817-808-8827

10:29am • #20
158,189 Points 9 Featured Posts Localism Sponsor Outside Blog Hit Router

We have some clients I've been working with long-distance in another state for over 5 months. She's been using my GrowthLeader site to narrow down the homes she wanted to see. We went out and saw several - and each one had a fatal flaw in their eyes. Too dated, too much work, too close to a road, no privacy, etc etc etc.

We were not allowed to pick out the homes to see - rather she wants to be in charge of the process. Then she was disappointed when she did not like any of the homes she picked out. Had she disclosed to me what she wanted, I could have told her up front that her expectations were not realistic and saved her plenty of time. As it stands today, the Carson Valley doesn't afford her all the amenities and quality/condition she wants without a homeowner's association.

It should be interesting to see where this relationship goes.

10:32am • #21
2 Featured Posts

I think it simply has to do with "their process." They may be at beginning stages of their process, and actually will need to evolve through the process. I don't think there are any shortcuts, although I have tried to create shortcuts (in the consultation talking about specifics . . . ). Some people just have to experience the market before they really "get" what they want.

10:34am • #22
Outside Blog

Great to hear this issue exists elsewhere ... or perhaps resort property just compounds the issue. For years I have looked for a method to help buyers cut through the where, how much, how big before we show property.

My answer simply is that buyers often don't know what they want until the actually roll up their sleeves and see some properties. Only after the initial shock of not finding the perfect home, can they have enough information to get down to seriously looking.

Prehaps that's the challenge that keeps us all so interested in this business!

10:48am • #23
Outside Blog

Ken-

Sounds like my very first experience with some buyers I had.  However, they seemed to be all across the board.  First they wanted a 2.5 million dollar house then they decided that the payment was too high so we looked at 1.5 million dollar houses and then they wanted a foreclosure and then I didn't hear from them again.  

10:57am • #24
1 Featured Post Outside Blog

Great post Ken.  I'm going the the same thing right now with my first time home buyers.  And yes I did a lot of questioning with them in regards to what they want and what they're qualified for.

First they wanted a house with an in law for their mother in law at one price range, now they're looking at houses without an in law just for them at a lower price range. 

Of course they're looking at foreclosures and short sales even though I'm telling them that closing on a short sale before the Nov 30th tax credit deadline is highly unlikely and foreclosures will most likely need a lot of work.  But they still want to see them.

I'm trying to get them to focus and I know now that they've announced they're expecting we really need to have a talk.

Congrats on the feature!

 

11:07am • #26
183,510 Points 1 Featured Post

We've all had clients like these before......and will again.

Patricia Aulson/portsmouth nh homes

11:12am • #27
Outside Blog

I think for us it would be easy to know what we want in a house because we live it everyday. For buyers, they're just not in the game like we are. They may perceive that a foreclosure is a good deal until they see a few that are down right dogs! They may realize that their expectations need to be tweaked. Maybe at that point it's time to sit down with them and do another consultation to make sure we're on the same page, so they don't get frustrated and walk away.

11:45am • #28
1 Featured Post Outside Blog

I mostly work with buyers and I try to ask lots of questions at our initial meeting such as 1. what is the dream home and what does it look like 2. what are your wants vs. must have's in a home 3. what are absolute deal breakers (on a noisy street, etc...) Once I have asked all of the questions and they let me know what homes they want to see, I go over the MLS sheets with them and show them why a certain home does or does not fit their criteria. Then, they usually change their mind on things at THAT point rather than after we are out driving all over the place. It seems to help and saves time.

11:56am • #29

I so understand what you are saying! I have one client I still have not settled within, because he can NOT for the life of him figure out what he wants for sure! I try to help him, I try to narrow it down for him, and just when I think I have got him, he changes his mind on what he wants, again!

12:16pm • #30
212,782 Points 34 Featured Posts Outside Blog

I always say that it's a dynamic process and things will change along the way. 

I always wondered about some agents saying how they are good listeners and then can select no more than five homes and have their buyer pick one.

It never works that way with me.  I really can't blame buyers for shopping around and seeing things they might not have known they could be interested in. 

1:09pm • #31
194,517 Points 2 Featured Posts Outside Blog

I think that they start out as a genuine 'want', then when they see the results they get, they change. And change, and change again.  Sometimes you have to just yell stop so they get refocused.  Another good one is that the spouse that never looks at homes is the one pulling all the strings.  It sends the focus in just too many directions because they really aren't part of the searching process. 

1:15pm • #32
128,602 Points 24 Featured Posts Outside Blog

Having just been through this process myself as a buyer, I can tell you that your wants change based on what you have available.  When I started looking, I was bound and determined to get a foreclosed home and "get a screamin deal".  Then I saw what was available....UGH!  I started looking at short sales...some good, some bad.  I finally settled on a very nice home 10 miles away for roughly the same money I would spend on a foreclosure in Missoula...and it is WAY WAY nicer. :-)

1:33pm • #33

I change my mind like a girl changes clothes. For years I was convinced that a "mansion" would be perfect for me, so my husband and I looked at enormous houses. After looking I changed my mind because anything over 5000sf was too much cleaning and too many stairs. Now I prefer cozy bungalows under 2400sf. Go figure.

2:13pm • #34

Ken -- I have found 'Or, maybe, they just don't know themselves' to be very true.  Many times buyers start out telling you what they 'think' they want, but after getting into a number of homes decide, hmmm. maybe we don't need that and perhaps we DO need this.  Happens to me all the time even though I have spent time with them upfront to understand their criteria so I can provide them with the right matches.  I recently had a couple who only wanted a vintage home -- nothing else -- now they're looking at new construction.  Now, that's a 180, but they seem to have finally 'found' themselves.

2:18pm • #35
100,356 Points

There's a Devo song, "Freedom of Choice" that states, "In ancient Rome, there was a poem, about a dog, who found two bones, he licked the one, he licked the other, he went in circles, and he dropped dead."  I think sometimes too much choice is a bad thing.  And we've been experiencing that with buyers for the past couple of years.  Great post and best of luck to you Ken.

2:21pm • #36
117,193 Points 6 Featured Posts Localism Sponsor

Wow! Such great repsonses.  It's good to know I'm not alone with this.  Thanks for the encouragement and support!

2:21pm • #37
Outside Blog

More often than not, I have found that Buyers (ESPECIALLY first-time buyers) get advice and opinions on everything from everybody. Family and friends are the worst culprits. I believe that everyone means well, but at the end of the day our opinion as professionals should count the most. I am working with one of my best friends right now and I am SO GLAD it is almost over! We went from townhouses to raised ranches to georgians to quad-levels. I especially loved when we started looking at Georgians, although she had clearly stated that she does not like that style of property. I can go on and on.... This was a great post, however!

3:08pm • #38

This happens very frequently! I make a must have and wish list for each client, explaining every step of the way that compromise is the middle word in Real Estate. The consultation up front is crucial. Buyers do not know what they want-we have to guide them!

3:17pm • #39
Localism Sponsor

Ken,

Don't get frustrated by those buyer. YOu changed as they changed. Sooner or later they will know what is their best choice.

Grace Keng, Northern California realtor, www.gracekeng.com

3:19pm • #40
6 Featured Posts Outside Blog

Ken,

I try to get buyers to work up a need vs. want list with me.  They need 3 bedrooms but want 4. Need an eat-in kitchen but want granite counters.  Need to stay within a $$-$$$ price range but want a bargain. Amazing how quickly the fireplace, 3-car garage, cul de sac, etc., shift into the "icing" category and we can focus on the cake itself.

Look forward to your upcoming post on being Under Contract with these buyers!

3:48pm • #41
112,883 Points 5 Featured Posts

Ken,  I think sometimes we don't get the entire picture from our buyers early on because they don't trust us.  That takes a little time.  Working with buyers involves developing relationships too, in addition to all our expertise and professionalism. 

And besides, I've often walked into a department store to buy a new pair of shoes and go home with a new dress instead.  I changed my mind after I started looking!!! (:

3:53pm • #42
Localism Sponsor Hit Router

I can relate.  It seems like I can do all the qualifying and buyer counseling in the world, and buyers still change from day to day.  My biggest frustration is in people acting like they are extremely interested and ready to go, only to find out that they still need to sell a home or two, raise another $100k, and put their kids through school.  Then when they finally do come around they offer 50% of the purchase price.

 

4:12pm • #43
217,469 Points

Seems I always have these clients.  I have a whole sheet of questions to ask but so many times they change their minds after that first outing.

4:19pm • #44
356,800 Points 9 Featured Posts Localism Sponsor Outside Blog

Hopefully, we won't get too many buyers like this.  Most are able to focus pretty well when there is an initial consultation. It also is helpful to find out if the there are 2 buyers .. whether or not they are ont he same page.  This can certainly cause a lot of problems.... and many more showings.

4:23pm • #45

Have clients seen pictures, video tours, or virtual tours before you took them out?

4:24pm • #46
220,682 Points 2 Featured Posts Outside Blog

Hi Ken~ I think that they have the prerogative to change their minds, and they usually do change it many, many  times, lol! 

6:16pm • #47
104,909 Points 3 Featured Posts Localism Sponsor Outside Blog

So true!  Most buyers have to go looking a few times before they know what they actually want - especially if they are first time buyers!  There is the rare buyer who knows exactly what they want, but they are RARE!!!

6:26pm • #48
114,547 Points 5 Featured Posts Outside Blog

Ken - I think we've all been in this position before.  There have even been a few times I started questioning my listening skills.

7:29pm • #49
574,221 Points 95 Featured Posts Localism Sponsor Outside Blog Hit Router

Ken, been there bought the tee shirt, will probably buy a few more. Good post.

7:56pm • #50
Localism Sponsor Outside Blog

Ken, my first year in the business I had buyer client (resident Doctor) who was moving to Roanoke VA.  He told me exactly what he wanted, ranch style home, rural with low traffic, acreage, NO NEIGHBORS, 10-20 minutes to the hospital, mail floor master, main floor laundry, vinyl siding.  After showing them 19 homes over 2 days we had to regroup......

What did they buy?  A brick Tudor on half of a postage stamp lot (their new house was 6 feet from the neighboring house) laundry in the basement, master bedroom upstairs, on a major city road, huge neighborhood, 6 minutes to the hospital.

It doesn't matter how many questions you ask....sometimes you just have to look.

9:55pm • #51
SEP
03
122,057 Points 3 Featured Posts

I think we all have those clients. Congrats on a well deserved feature. :-)

12:35am • #52
352,501 Points 3 Featured Posts Localism Sponsor Outside Blog

I find that serious buyers who are continuously educated usually come to understand the market pretty quickly, and once they are, can make radical adjustments to their criteria.

1:23am • #53
103,950 Points 4 Featured Posts Hit Router

I'm a firm believer that people need to see the houses they won't buy before they see the house they will buy.

5:14am • #54
276,055 Points 3 Featured Posts Localism Sponsor Outside Blog

This is where the old saying "Buyers are liars" originated.  When buyers see the real world in available housing, often their preconceptions change.

6:50am • #55
587,171 Points 63 Featured Posts Outside Blog

Ken, this is so NORMAL. Buyers don't know what they don't know. As they see what is out in the market they change their mind naturally, sometimes appearing all over the map. It is not lack of focus but learning.

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Ken Montville -- the MD Suburbs of DC

College Park, MD

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RE/MAX Advantage Realty

Address: RE/MAX Advanatge Realty, 8171 Maple Lawn Blvd., Fulton, MD, 20759

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