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Buyer Behavior & Sales Skills in Real Estate

I haven't been in real estate for very long but I gather that what I am experiencing in buyer behavior is different that what agents have experienced in the past. A few weekends ago I opened the door at a much anticipated showing on a Saturday afternoon. Earlier that week I had sent a rather unique home to a family. They drove by..."love it", drove by it again throughout the week, "oh my goodness....we feel so at home there" and couldn't wait to see the inside. The home was everything they expected it to be, charming, unique (I loved it) - okay the kitchen was dated but that added to the charm of the home...a nice place. They held hands and listened to the wind in the trees and even closed their eyes dreaming what it would be like to live there. And they were pre-approved for the full amount! So I was surprised when they turned to me and asked, "what are you doing next weekend? There are a few more we thought we would like to see". WHAT!?! Is it because there is so much on the market that people want to be absolutely certain they aren't making a mistake? I decided that I hadn't uncovered their true motivations...and as it turns out they have decided to stay put until their son is out of school.

Now my backgrond is in sales training for a large medical company so I should be able to apply what I know but I suppose I have gotten lazy...or I think they will know what they want. What are some other experiences others are having and what questions are you finding helpful to determine a buyer's motivations?

Posted by Mary McDonald, Broker, E-PRO, ABR, ASP on 04/25/2007 05:16 PM

Comments (3)

buyer behavior, buyers market, touring homes, showing homes, real estate sales

3 Comments on Buyer Behavior & Sales Skills in Real Estate

It is simple... if a buyer seems to be having too much fun looking at houses, they ARE.

04/25/2007 07:05 PM

by Don Paradis (Realty Executives Metro South)

Buyers are very fickle these days. Even after the contract is wriiten we see deals falling apart over silly issues like nail holes. It was not always like that and things will change again.

05/23/2007 04:44 PM

by Laura Moore Godek (Laura Moore Godek, PC)

Not only are buyers very fickle but this time of year always brings out what my husband and I call "professional lookers." These are people that get the bug to start looking because it is spring and there are a lot of new homes on the market and everything is turning green. Than after spending some time looking they get busy with other things and suddenly they are not interested in looking anymore. There are always a few questions we always ask.....If they have a home to sell we start by trying to see how soon they would like to get it on the market. Most people have to sell before they buy something new. If they are not ready to even talk about you doing a market analysis on their current home that should start raising questions right there. We usually follow that by saying....If I found you a home with everything that you have told me you are looking for in a home, are you prepared to make an offer??? Or we ask them....What is the time frame you are looking for to be in a new home? If there is any hesitation or non committed answers, alot of times this is an indicator that they are not sure they are even ready to move right now. We recently took the Brian Buffini "100 Days to Greatness" class and he really helps you identify the motivations of buyers and sellers. Sometimes some direct but not "high pressuring" questions will help save you a lot of time and aggravation. I do have to agree with Don....if they seem to be having too much fun looking at homes, they probably are!! Hope that helps!

05/23/2007 05:34 PM

by Rick and Lynn Orze | Carol Stream, IL RE/MAX Real Estate (RE/MAX All Pro)

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