What is a buyer listing service? Think of it as an MLS of buyers. That is, a site that would allow you, a Realtor, to post profiles detailing your buyers' specific homebuying wants and needs.... including: desired price range, location, beds, baths and any other more detailed wants/needs/desires like views, pool, grassy backyard, specific subdivision etc. Obviously, you would never post your buyers name, rather your contact information.
This would allow other Realtors and the public to search for your buyers with new, private or unlisted properties and contact you immediately should they feel they have a home which might work for your buyer.
The benefits are tremendous!
1. Be contacted immediately by other Realtors with new listings that might work for your buyer! Look like the hero by giving your buyers the first chance to see homes, immediately after they are listed.
2. It's open to the public. Be contacted by prospective (unlisted) sellers who search the site and feel your buyer might work for their home! Whoa! Can you imagine that.... getting your buyers into homes before they're ever even listed! Of course, you might want to sign a one-party listing agreement before you take them over there. Not a bad way to get your foot in the door of a potential listing either.
3. Finally, the minute you take a listing... you have a database of homebuyers at your fingertips. No longer do you have to post your listing on MLS (although I would never suggest you not post your listing on MLS, that's just crazy!) and then wait for other Realtors to find you! Be proactive.
I have built the site and have had it active in Paradise Valley, AZ for the last 6 months. It has exceeded all expectations in terms of the aforementioned benefits. Just 6 days after launching the site, one of the member agents received a call from an unlisted seller in regards to a buyer he had posted. He took the buyer over to the home later that day and had a contract written and accepted by that night. It was a $90,000+ commission!!!!!! And all that he had to do was take 30 seconds to post his buyers' needs!
So... I am about to start expanding out to the greater Phoenix-Metro area. I know times are tight and am considering allowing any agent who would like to be on the site, join for free. Conventional wisdom tells me that if you don't pay for it... you wont pay attention to it! However, I am willing to give it a try.
You can check out the site at www.buyerhunt.com Remember it is only active in Paradise Valley, AZ so if you'd like to get an idea of what the profiles look like please type in 85253 to the search bar.
Comments? Suggestion? What do you guys think? Would you use it? Would you really use it?