You have a buyer, now how do you get them to buy?

Real Estate Agent

 I have been happy with the buyers we have converted off Craigslist and online. Buyer agency is the key to successfully converting buyer leads to a sale. One day I realized that we were so good at getting buyers to sign a buyer agency, but a lot of those buyers weren’t buying a home.

 I went back and looked thru the files and realized that a lot of times, we met a buyer at the office, signed them to a buyer agency, and then set them up on the automatic MLS e-mails. A few weeks later, when nothing had happened, I would try to call them to go look at homes. But, often times they were busy at work, or didn’t have the time. They wanted to buy something, but didn’t want to put the time aside to go look. Here’s what I did to fix this.

 I realized that in order to close more of them, I needed to keep the process moving ahead constantly. After getting a buyer’s agency signed I absolutely had to set up an appt to view homes. Or, go show them homes right after meeting them at the office. So, whenever I meet a buyer and sign them up, I don’t let them leave until I’ve set an appointment to go look at homes. Most buyers, especially local buyers, always cool off. They renew their lease, or find a new place to rent for another year.

 Here are a few other things that make the process easier and faster. Never show them more then 5-6 homes per outing. See, buyers aren’t trained to remember houses. After working with buyers for years, my brain is very good at remembering everything about a house. I can remember homes that I showed 3-4 years ago. I can tell you about their layout and paint colors. But, the buyers haven’t trained their brain to do that. When you show them more than 5-6 homes, they won’t remember the one they really liked.

 And, when you do show them the house that they really like, stop! Don’t show them any other homes. You don’t want to have them stumble across another home they kind of like. Then they are stuck trying to decide between the two of them and can’t make a decision. What happens then? They don’t buy either one and might re-sign their lease for another year. Ouch!

 Working with buyers is a lot of fun when you do it right. If you find the motivated buyers and do a great job for them, then you can make a good income and not work all the time.

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Michael Delaware
North Sky Realty LLC - Battle Creek, MI

Good data about keeping the buyer moving!  Thanks!

Feb 03, 2010 12:43 AM
Retired from ActiveRain
Baker, OR

Many prospective buyers want to buy a home, but often have little idea how to go about it.  They look to the agent for guidance.  Gently guiding the prospect through the steps involved is good.  Meanwhile, you're probably testing the buyer at each step to determine how serious they are and how much more time you should devote.

Feb 03, 2010 12:49 AM
Team Honeycutt
Allen Tate - Concord, NC

I agree with you about ending the day when the buyer finds the house they really like. Why go see anything else. Cancel those appointments, then walk through again allowing your buyers time to "place" their belongings in their future home. 

Feb 03, 2010 12:52 AM
San Antonio Texas New Homes for Sale - San Antonio, TX
Berkshire Hathaway HomeServices Hill Country

Ben.  I see that you now have a good process to help your clients over their fear and procrastination

Feb 03, 2010 12:52 AM
CIA Home Inspection
CIA Home Inspection Service Home Inspector San Bernardino - Los Angeles, CA

Ben as always god blog and very informative.

Feb 03, 2010 12:53 AM
Don Sabinske
Don Sabinske, Sabinske & Associates Inc. - Zimmerman, MN
Sabinske & Associates Inc.

You are spot on.  5-6, which one do you want to buy.  Sign here.  Then, let them fall in love.  over and over and over again.

Feb 03, 2010 02:44 PM