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Manage Buyer Expectations – Or Be Managed – Top 4 Tips

By
Real Estate Agent with Keller Williams Benchmark Properties

Man sitting contemplatingIt's a scenario as old as dirt:

You get an email from prospective client wanting to see a property. You can feel the adrenaline rush as visions of closing checks dance in your head. You quickly set up an appointment, head across town, show the home and then set up another appointment to show them more prospective digs on the weekend. Friday comes ... and you get an email with nineteen MLS numbers they'd like to see. A small ache starts meandering through your stomach as you realize you need to do some educmacatin. You start working the list and realize that fourteen of them are short sales ... appointment only. That nasty feeling in your tummy is beginning to call for out for large quantities of Maalox as you get ready to start making the calls to set up the tour. 

It's a classic scenario ... ending with the unreturned calls, failure to respond to emails and the devastating revelation that the clients you've been hauling around for the past few months ... just purchased a home from another agent at an open house. 

You've just been managed.

Click here for tips on how avoid this all too common problem ...

 

 

Comments (4)

Liz Flint
Century 21 Hardee-Team Realty - Houston, TX
Houston\Tomball Realtor (832)816-8066

What a great post Carl, I love the expectations clearly lined out in writing for both parties.

Dec 23, 2009 02:05 AM
Sajy Mathew
Coldwell Banker Residential Brokerage - Lancaster, PA
Making your real estate dreams become a reality!

Great information! I learned early on we got to qualify these people as legit buyers, sign a buyers agreement (here in PA) before you start spending your valuable time with them.

Dec 23, 2009 02:06 AM
San Antonio Texas New Homes for Sale
www.sanantoniotexasnewhomesforsale.com - San Antonio, TX
Berkshire Hathaway HomeServices Hill Country

Yes.... a visit starting out with expectations and qualifiing prospect. Sure does set the stage to having a smooth process    Thanks

Dec 23, 2009 02:14 AM
Carl Medford
Keller Williams Benchmark Properties - Fremont, CA

@Liz - if you don't tell people what to expect, you'll be sure to frustrate sooner or later. I came up with my agreement because I got tired of people using two Realtors at a time, and then asking me for a piece of my commission. Our agreement clearly spells everything out - in advance - it is two pages of what buyers can expect from us and only four items we expect from buyers. It's also not a binding agreement - so buyers can leave if they think my service sucks.

@Sajy - TOTALLY agree - don't let them in your car until you know they are legit.

@Robert - we meet in a Starbucks - they love it! It really is the new way of doing business (at least in our area) and it show clients we are progressive. We never invite them to come to our office - we go to them.

Dec 23, 2009 03:19 AM