There are lots of theories on how to best handle the initial relationship with a potential buyer. I have been a licensed Realtor in Boise, Idaho for over 20 years and there is no single one best way! If I had to cut to the chase and select the overall most effective however, it would be to explain that my role is that of a problem solver and not just a chauffer to help them get into a home!
Too many Realtors get hung up on getting a buyer pre-approved before they will even meet with them. My problem with that is until you know what "problems" they might face in getting a mortgage, how do you know how to direct them to the right lender? How can you direct them to solve a problem that you may not know exists? I meet with lots of different lenders and let them tell me what makes them uniquely different so that when I have a client that meets that scenerio, I will send that business to them. I don't buy their typical "we give great service and have good processors or underwriters" answers!
For each buyer, I conduct a "needs analysis"!
- What is their barrier to entry? (credit, down payment, knowledge of homes, etc.)
- What is their time frame? (do they have kids to get registered for school, a lease on their rental, a home to sell first, a baby due soon, etc.)
- Do they like to drive by homes with or without the Realtor first?
- How do they prefer to communicate? Over tea to chat, via email, text, or phone calls?
- Are they used to working with professionals or are they the type that do their own taxes and their own landscaping and change their own oil in their cars?
- When do they have time to look at properties (will this conflict with my schedule?)
- Do they have realistic expectations? If not, are they open to being educated?
It is important to set expectations correctly upfront with a buyer. If you don't start off on the same page, it is impossible to maintain a healthy professional relationship down the road.
For example, I have one client that told me how long his "friends" took to buy a home and how long it took them to decide after having their agent run them around for months day after day. I looked them in the eye and said "According to the National Association of Realtors' survey of buyers and sellers report for 2010, the typical home buyer searched for 12 weeks and viewed 12 homes." That let's them know upfront that I am "planning" for them and that I have a system to help them acheive their goals to buy a home here in the Boise area. I told them it was a shame that the other agent didn't do a better job of taking the time upfront to find out about their needs and wants so that they wouldn't have had to waste so much of the buyers time!
Think of it as eating a Tootsie Pop. What is the end objective? Is it to get frustrated trying to count how many licks it takes to getting to the center of the tootsie pop? Or is it to get the center after getting a taste or two or three? I guess that is why this wise old owl has a graduation hat on and not a dunce cap. He realized the objective and went for it!
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