On The Average How Many Houses Do YOu Show?

Paul, my assistants say they hate when I show property.  I never go out unless I'm sure they are going to write an offer.  Otherwise, I let them show.   The hate me!!!  hehehehe

Paul:

I'm not really a good example for you.  Our inventory is so low, and stagnant, that when a new property becomes available and meets my clients 'general' needs, I jump on showing it.  If I get a client to travel here from out of town, I will show them a couple of other listings, to have something to compare.  Last week would be an example.  One couple came in to see a new listing, and I showed them 3 properties.  Been working with them for a year.  Selling lake properties you don't get alot of 'Got to's' motivation wise.

 

Ozarks Joan 

Paul,

    At one point I looked at my buyer board (my list of all of my buyers and levels of motivation) and I realized I had 7 buyers that had seen everything on the market and were just waiting for the next home to come available.   I decided to take actions into my own hands.  I had a conversation with all seven and basically told them that since we had seen everything out there they had one of three choices.  One - either change our criteria (price, location, type of home),two -  write and offer on a property we have seen, or three - stop looking.    After having that conversation with all 7 clients, within 3 days of that conversation five of them wrote an offer on a home we had seen, one changed their criteria and wrote on one of those homes, and one stopped looking.   I think too many realtors do not take control of their buyers.   I have found being honest about the situation and presenting the different options to them really open their eyes to the situation.   Hope this helps!!

Laura

By the time they reach us they have been able to preview all the homes available online we have a list of our top 10 that meet their criteria and usually put a home address in a sealed envelope that says we think this is the one you will like best!  By the time we are done knowing their needs and wants we usually have it nailed.  Market snapshot also makes this search much easier too now our clients can go online and see exactly where the homes are located in relation to schools, highways and shopping.  If a new listing comes online they will get an update of it within an hour.  Before we start I ask did you bring your checkbook with you today?  When we find the home of your dreams I want to be sure you are ready to put down a deposit with your offer so we don't loose the opportunity.  We will only look at the top 10 homes in the best condition and with the features you wanted.  If you know your market well enough this shouldn't be a problem..

I agree with Laura and Teri.

You can kindly and gently reign in a buyer by going back to the basics. Use a good questionnaire (perhaps from KWU?) that will cause them to focus on their goals. If they aren't willing to sit down and fill out a few pages of questions that will help them, then they probably aren't serious about buying a home.

Try encouraging them to tighten their search criteria. "What is the number one town that you want to live in?" "I've noticed that you don't seem to like any of the ranch homes that we see. How about if we focus on two-story homes. It seems that they fit your life-style a little better." 

It never hurts to ask what exactly they are looking for. Have them rate the homes they see from 1 to 10. If they keep seeing "10s" they need to write an offer. What are they waiting for, an 11?

I'm not sure I would turn them loose completely but I absolutely would migrate them into an automated listing program and let them narrow things down from there. Subtly let them know you're working this coming weekend (or other day) with clients writing an offer. Eventually, they'll realize time is valuable and they need to come to some sort of decision.

For better or worse, I've incubated some leads for more than a year. Not showing homes that whole time, but at least keeping the lead alive until they're ready. One led to a listing (odd since it was a buyer referral) that led to another listing. But I stuck it out. 

Hi Paul:

My rule is to show only 5 homes per day for a maximum of 3 days. If they haven't made an offer by then I ask them to the office and we have a serious discussion to what their goals are and what is it that I am not doing correctly. If this dosen't work then I let them go! This is hard to do, but is your blood being drained  worth the stress?

Hi Paul.

 For the most part I show fewer than 10 Homes.  For my three most recent buyers that I have just put under contract I showed only one property to two of them and to the third we went out one day and saw one house (for comparison) and 4 condos in the same building.  We are under contract for one of the condos.  I believe that if I do my homework by researching what is availalbe to match their needs I can greatly streamline what I show them.  The most important step is the initial consultation to find out what they want and what they need and what they can afford. If they sound like they are not serious I usually chose not to work with them.  My time is too valuable and gas costs too much to just drive them around.  Now - don't get me wrong - I did it!   We all did it when we started.  The point is you learn to listen to what they say and see how they act and if they won't sign on the dotted line you need to feel comfortable enough to cut them lose. 

Another great idea gold mine! 

I usually only show 4 - 5 homes.  My record is 21.  That was a LONG day!  But they did buy. 

What I found most helpful about this post was different techniques of dealing with people who seem to just look.  I've bookmarked this post for when I have time to make notes.

I loved the idea of the sealed envelope.  I have played that game before, and it's fun - especially when you share the results with the client before writing the offer!  When you are right, it lightens the mood and makes everything easier to explain - you've gained a level of trust and understanding.  When you are wrong it gives you a chance to discuss what they liked about the home, and learn a little more about your clients. (And prove that you are only human!)

 

Hi Paul - Thanks for starting a great discussion. On average I show between 5-10 homes before my clients identify the one for them. This is equivalent to 2 or 3 different outings.  Lately, I've lucked out where my clients have found "the one" on our first day out.

When I first started, I had a client who took 2 whole months of active looking (going out with me a few times a week). Yes, she did eventually buy.  During this time, I showed her at least 50+ properties.  At the time, I was weary and felt worn down, however now I am grateful for that experience.  In working with her and showing all those properties, I have learned the types of floorplans of those buildings, the parking situation, the resident manager's name and where his/her office is located, any assessments or litigations pending, etc.  From this experience, I have since been able to speak with first-hand knowledge on these buildings and have been able to match clients to certain properties much more quickly!

I am a firm believer that everything happens for a reason...sometimes the reason isn't immediately clear.

Have a great day!

Like most others I only show 5-6 homes maximum in one day. After each showing I immediately ask them to consider the positives and negatives of the particular property. To facilitate the communication I have my buyers follow me in their own vehicle so they have the freedom to openly discuss the house. Folks are reluctant at times to share their "real" feelings in my presence. When we arrive at the next house I ask them about the previous home and note the comments. This really helps as I give feedback to the listing agents.

Before showing homes it is mandatory that you qualify the customer's motivation. I always get the buyer to commit to the following: "If I show you a property that completely meets your needs (price, location, floor-plan, etc), are you ready to make an offer?" Of course, even though I get the affirmation, it is not a guarantee that an offer will be forthcoming. Working in the Florida market I have come to realize that some folks come down on vacation, etc and "get orange juice in their veins" and now want to buy! Experience is such a great teacher!

Another point to make Paul,

I also establish a client's motivation by making sure they meet my specific criteria. Meaning, prior to showing a client homes, they:

1. Must have a lender's pre-approval or proof of funds.
2. Must sign an Exclusive Buyer's Agreement with me.
3. Must attend my orientation with me.

In all, my clients really respect my practice's standards and they know what my expectations are. They know I will do all I can to help. But, if they are not serious, they do not need to waste my time. In this business, time is money. Certainly, you wouldn't go to a doctor's office seeking help via consultation after consultation for free---wasting time and never undergoing the treatment you initially sought. Don't be afraid to educate your buyers and let them know how you run your practice. I have certainly shown 20 homes to clients---and in some cases (such as today) 2 homes to others who happen to decide right away. People have various levels of comfort. I respect that a home purchase is a Huge investment---the biggest investment for some. And, if my clients need to see 30 homes to find the home they are looking for---so be it. However, the rules are set forth: This is a serious business for me. Please, do not waste my time. 

It is hard for me to give a specific number for my clients.  For us here in the Northeast, we are seening a large inventory, particularly where I live on the SEacoast of New Hampshire.  I have my clients set up on a prospect email list with a daily update of the market, new listings, price changes etc.., they have an ability to view a detailed report of each listing, then I advise them to take a drive by if needed.  I have found this practice to work great for me.  I am only showing an average of 5 to 6 houses per client.

Hi Paul.  Yes, your question triggered some great comments.  For number of showings, I try to keep the daily showings count at 5 or fewer.  During the process, I try to find out what the "knock out punches" are on each house.  So I'm gradually discovering what they loved, what they will accept, what they will compromise on, when everthing else might be right, and what few features are the definite knock out punches. 

Then, I try to find houses that meet their criteria, preview them myself (usually, if I have time) ahead of time, trying to see the house through their eyes (or his/her eyes).   Once I start getting a good handle on the real significant features they must have, I start asking them a question that lets them know I'm not a professional visitor.  (And an inside secret; show them the house you think they're going to buy LAST!  Then, when they don't buy it, spend a lot of time trying to get answers to why.  You have to be able to see the home their want before you can find it for them). 

"Let me ask you this -- other than the master bath not having a bubble tub, is there anything else holding you back from a "Yes" decision -- today?"   If they say yes there is; they really didn't want a home that had wallpaper in the kitchen, then I ask the question again.  Is there anything else, besides the lack of the bubble tub and the wallpaper in the kitchen that is holding you back from a "Yes' decision on this home?  If they say no, then I use a trial close like, "Well, Jack & Jill, if we could get the seller to install a new bubble tub, remove the wallpaper and repaint, are you ready to try and purchase this home tonight?"  

I don't have to do this too often, actually, because more often than not, I've set some expectations up front, before we ever look at the first home, with a question like, "Since you are pre-qualified up to XXX,000, if we were lucky enough to stumble across a great house, at a good price tonight, would you be in a position to make an offer now, or would you need to consult with another party -- a parent or friend, etc. -- before making an offer?  

Also, I'm very old-fashioned in that I want to get them in my car if at all possible.  I don't count them as a real prospect (for an owner-occupied home) until they've gone to see houses in my vehicle.  They need to trust me before they will ever write with me.  So, I wouldn't worry about the number you have to show -- just make sure you have good answers for how soon they are ready to make a purchase.  If it's at the first moment they find the right house, you've got a live one, if they will tell you what the right house for them is.  If it takes 20 houses, so what.  More likely, it will be 5-12.   Good luck! 

My number as always been six. If the buyer visits 6 house that meet their standard and do not want to make an offer on one i then put them on the back burner.