The Winning Buyer Resume

By
Real Estate Agent with Solutions Real Estate CA DRE #01490977

The Winning Buyer Resume

 

Those who know me well are aware I come from a background in corporate Human Resources, about 16 years give or take. Of the many roles I played as an HR exec was helping companies hire the right people for key jobs.

 

Not an easy task.

 

Writing a good resume CAN drive you crazyA key part of the hiring process is reviewing resumes (i.e., skills, experience) of qualified candidates, or those who feel they are. In my HR career I saw tens of thousands!

 

A good resume is a work of art, and consultants make plenty of money helping potential employees craft resumes that capture the best of their experience and grab the attention of would-be employers. While there may be other ways to get in the door for an interview, passing muster with a stand-out resume (and of course the experience behind it) is essential. Good HR people know how to screen in, or out, candidates whose resumes don’t fit the bill for the job.

 

Perhaps we ought to do the same for hiring buyer clients.

 

So what would a winning buyer resume look like?

 

Like any GOOD resume, you would need accurate contact information (it must be legit, otherwise how else do you get in touch?), and an objective that make sense and is realistic (who wants to hire someone who can’t decide what they want, or who wants to be the Director of ____ but has the skills and experience of an entry-level employee? Same for unrealistic buyers).

 

Objective: Pre-approved buyer with 20% down conventional mortgage and proof of funds for closing costs wants to purchase first home with 3 or more bedrooms for $500K to $600K in the Calavera Hills community. Willing to consider foreclosures and short sales, and will take on cosmetic work including painting, flooring, landscaping and replacing/adding appliances

 

You also want to see a set of skills that will contribute to success in the job, and areas of knowledge.

 

Skills and Knowledge: decisive, problem solver, strong verbal and written communication skills, able to meet strict deadlines, strong computer and Internet skills, works well with others, manages credit well, flexible, knowledgeable about the areas they wish to live in, able to clearly communicate wants and needs

 

A successful buyer hire is like a successful job hireLastly, the prospective employee must have some specific experience gleaned from 1 or more jobs that is relevant to the position s/he is applying for. Big gaps in employment raise red flags, as do lack of detail and specific information. In this economy many seeking a new job are not currently working and that may be OK for a prospective employer, depending on time frame

 

That’s probably not so for a home buyer, unless they have plenty of cash, a trust fund, or a family member who is providing the funds. I don’t know of a bank that will loan money to someone who cannot verify current employment. And buyers will also have to verify either home ownership information including financials, or proof of their rental situation.

 

A key component in hiring is checking references to verify some of what the candidate you want to hire has said.

 

Can we do this with buyers? Sure.

 

Money is important - for buyers and job candidatesThat pre-approval letter and a conversation with their lender will help. Some pointed questions about living circumstances and related information is reassuring. Meeting buyers face-to-face before starting the process help to cement a relationship, or not, verify some information again, and so on. And a Google search can help verify that they are who they say they are and where they work. We know potential clients check us out, as they should and we should do the same.

  

Employees typically want to be successful in their jobs. I imagine most buyers do too!

 

If they have the skills, knowledge and qualifications they can be, with our help to educate, coach, counsel and assist them in solving problems.

 

Make sense?

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Michelle Carr Crowe,Altas Just Call...408-252-8900! 08/11/2012 09:27 AM
  2. Lenn Harley 08/11/2012 10:35 PM
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Rainmaker
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1~Laura Filip
1~Laura Filip Broker , Opening doors for All Seasons of Life - Whitesboro, TX
What can we do for you today?

Have a blessed night CRS awesome talk to you soon

Aug 11, 2012 11:06 AM #6
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jeff, that is a good connection between hiring and working with Buyers.  Both are a much more difficult process then people not involved in it might think.

Aug 11, 2012 11:12 AM #7
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Michelle - no doubt, especially with buyers new to the process. But in this market there are plenty of buyers who bought in the past who do not really understand what is going on.

Jennifer - Cool, thanks!! I have been thinking about the same for sellers. While actually submitting a resume might not be reality, the principle certainly makes sense. And it behooves US to be top notch interviewers to make sure we qualify buyers, just as they should qualify US!

Thanks Hella. The Internet is a great source of information and we should all use is as we can, but also realize that all is not accurate and we need to verify other information with people directly, just as they do with us!

Jeff

Aug 11, 2012 11:28 AM #8
Rainmaker
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Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Jeff -- I love the idea of a buyer (or seller) resume.  It would certainly help us better determine who we should be working with.

Aug 11, 2012 11:35 AM #9
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Martha Brown
Long & Foster Real Estate, Inc., Annapolis MD 21403 - Annapolis, MD
Your Homes Around Annapolis Agent

Hi jeff- I have a buyers packet I share with every buyer at our first sit down meeting as well as an interview style questionare to find out as much about them as I can. But....some are not upfront from the beginning and when the instincts take over its time to bring it to a head. Even so I think your ideas are a great addition as we can never know enough. :0)

Aug 11, 2012 11:48 AM #10
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Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County
I love the analogy, especially the part about objectives (and referrences, too).
Aug 11, 2012 12:14 PM #11
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Jeff, whatever did we do before we were able to do a Google search on our buyers? 

Aug 11, 2012 01:05 PM #12
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Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Jeff, what a great turnaround! I definitely have Googled buyers whom I have not met - and our informatin is plastered all over the internet, that's for sure. Love your considerations for a worthy Buyer resume.

Sharon

Aug 11, 2012 02:22 PM #13
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Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M
Jeff - It makes sense to me. Many buyers do not have realistic job expectations.
Aug 11, 2012 03:28 PM #14
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Ginny - same, too, in the hiring process. While we can't probably expect resumes, some careful interviewing can yield some pretty pointed information.

Joy - glad you found this perspective useful.

Laura - back at you! Thanks for stopping by.

Jeff

Aug 11, 2012 03:51 PM #15
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Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

Great post, Jeff!  I will begin looking for those Byers tomorrow!

Aug 11, 2012 04:27 PM #16
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Gary Frimann, CRS, GRI
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

Jeff, good advice.  I have checked the background of buyers on County Records via our MLS to see if they have enought equity in their home to buy their next home.  It does quickly weed out some clients.  They all say they'll "talk to a lender on Monday" but it turns into a situation with one delay after another., but I quickly weed out the unmotivated people.

Aug 11, 2012 06:43 PM #17
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Debbie Reynolds
Platinum Properties - Clarksville, TN
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Jeff, Occasionally I meet buyers that are so respectful that they ask, Would you be willing to work with us in finding a home? It is so refreshing and presents such a marvelous attitude that I want to jump through hoops doing a fantastic job for them.

Aug 11, 2012 11:09 PM #18
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

George - I think that's true. And given what you do gathering the right information from buyers that is verifiable is even more key. You have the advantage of checking credit scores and the mortgage application...but then we also know this information has been checked.

Joan - well it makes a lot of sense. But if we do our due diligence, ask the right questions, and get verification from their lender it certainly is reassuring. But it still comes down to finding the right home, being serious about a purchase, making decisions, among other things.

Jeff

Aug 12, 2012 01:24 AM #19
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Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Jeff - I am only one person and can only work with so many clients at one time, so I absolutely interview potential clients and only take on the ones I'm confident I can assist.  I'm sure there are some buyers I have passed on because they didn't have a great resume, but I always help the ones I do take on as clients.

Aug 12, 2012 06:58 AM #21
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Martha

I know exactly what you mean about being upfront. The difference is that when hiring someone is specifically seeking to get a job with a particular employer. In our business buyers know they have options to get them to the same objective. The inability or wariness about being upfront for me is always a red flag, but I am willing to work with it for a bit.

Jeff

Aug 12, 2012 12:54 PM #22
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Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Jeff, sometimes everything just doesn't come together on the buyer's resume. I am working with a client now who is financially set. He'll have no problem buying at the $600K price range he is looking in. However, his culture dictates that he offer significantly less than the list price. Even if the home is already priced below market value. Something I didn't know prior to writing an offer.

We have lost two homes already because we are writing offers on short sales and foreclosures where there have been multiple offer situations. Each time I try to impress that our offer needs to be more competitve. Unfortunately, he is always adamant about his price. At this rate, I'm not sure we'll ever be able to be successful.

Aug 13, 2012 01:10 AM #23
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Melissa - sometimes you have to wonder WHAT a buyer's objective really is!

Pat - or them on us!?

Thanks, Sharon - I have found buyers are impressed that I took the time to research, just as they did. I think it's essential these days and fully expected. Sometimes it's very hard to find much. I know renters who Google their prospective landlords.

Christine - no kidding. And it can be tough to help them become more realistic

Sharon - good luck

Gary - makes perfect sense. Good on the listing side as well. If someone is not willing to talk to a lender that is major red flag. Yes it can be a lot of work but you ain't buyin' without a loan unless you can prove you have the cash.

Debbie - isn't that refreshing, and a wonderful compliment?

Erica - and playing an active role in that process. Sometimes a tough road to travel for some.

Michelle - it has to be a comfortable relationship for all, doesn't it? And if it doesn't feel right then it's wrong to move forward.

Tammie - I wish you luck. That can be a really tough approach to overcome but it will clearly not work in a competitive market with multiple offers at and above asking.

Jeff

Aug 13, 2012 03:11 AM #24
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Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Great idea, Jeff.  I used to be a recruiter so should be able to recognize and good resume.  Love it.

Aug 13, 2012 04:00 PM #25
Rainmaker
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Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Jeff-I like your take on this subject. The initial meeting, since we'll not get a resume, will tell the tale as to how the agent and the client will be able to work together, or not.

Aug 15, 2012 12:20 AM #26
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