So you're thinking about buying some real estate. That's awesome! Congratulations!
Here are seven things buyers do that agents love!
1. Buyers who know what they want. Granted, they may not know the exact neighborhood or the exact house but they are ready to share a reasonable list of features and amenities that are going to make them want to pull the trigger if it is presented to them. By having a realistic, well-defined objective, we can easily match you with a property you are going to love. I'm not just talking about what's on the open market either. We know what recently kicked off the market. We know sellers who are within an inch of selling. Our knowledge still beats the internet's knowledge of what is available.
Since I've been blogging (2006), I noticed the number of properties I showed buyers before they wrote an offer shrank by more than half. Thank you, Active Rain! I made it easy for buyers to do their own research. In fact, it was so easy for some buyers, some bought without actually seeing it first. Many others have a list as small as 2 or 3 before they strike. That's awesome.
2. Buyers who take the advice of their agent. Living in a secondary market like Naples, Florida means we get people from nearly every corner of the planet. Couple different buying and selling strategies with changes in our real estate market and it can be a complete fiasco to try to put deals together. Great buyers already know people do things differently in different places. They understand the whole, "When in Rome, do as the Romans do" thing so they don't complain or demand negotiations happen the way they do in say Bloomfield Hills, MI.
A great Naples agent can explain the buying or selling etiquette of Naples, Florida. An even better agent can explain to the other side why an offer or counter looks the way it does if terms are not "customary". This point alone can cause the total success of your transaction and why you want to work with a proven professional with at least 10 years of experience. Accommodation changes according to where we are in the trend of our market. Newer agents don't always understand why their deals don't work out when just a year ago, they were successfully negotiating all day long with the same terms.
3. Funds are in position. Whether buyers are paying cash or doing a loan, they already have their paperwork set up or know how the deal will be funded. They may be waiting to get a great referral from an agent as to which lender they should use but they are already cognitive and ready to deliver what is needed to fund.
We don't get a huge amount of first time home buyers in Naples. An overwhelming majority of my clients pay cash but any great agent can point you to the experts you need on your team to help you fund your deal. Not every lender can offer the same success either. I have an excellent team in place.
4. Buyers who are realistic. It takes very little time to determine a budget or how far the money is going to go in any real estate market. Some buyers find their original objective is unrealistic. They make adjustments to the type of property they're buying or the location or both. Some decide it isn't possible to achieve what they wanted and punt out altogether. Realistic buyers see, learn and react accordingly. What they don't do is expect the seller to take on the burden of their shortcomings or expect the agent to come up with some miraculous deal.
Technology for sure is helping people understand values. What technology can't do is help people understand how property condition issues are handled and what concessions buyers could realize. This is another reason you actually want an agent on your side when you go to buy. Any monkey can write a contract. Not everybody can fight on your behalf or get the best service people into your home or condo to make sure what you're buying doesn't turn into a big fat headache.
5. Buyers who are loyal. Oh here's a sticky one. Not every agent is great and I understand why a buyer may not see the benefit in staying with an agent who isn't providing a benefit. Smart buyers are not easily swayed by just any other agent, open houses or new construction opportunities without taking their agent with them or including them at some point. Smart buyers build a relationship with their agent and they use their agent as an advocate for their deal. Buyers don't always get a break when they go it alone which is a huge misconception in the marketplace. Buyers aren't always as well taken care of when they are not represented either.
A few years ago I had a buyer waltz into a new construction site and purchase a home without my knowledge for the sole purpose of investment flipping. Had she told me she was contemplating doing that, I would've talked her out of it because I knew demand in that location was dwindling and she wouldn't be able to get out. The deal was already done though. She's still holding on to a house she can't sell. It is now depreciating while the location I was showing her is still appreciating. I talk buyers out of purchases more frequently than you might expect. Most of the time it's to the detriment of a quick deal or bigger paycheck but I feel great about the advice I give and I'm pretty sure my clients appreciate it as well.
6. Buyers who are thoughtful about their time. High powered CEO's and other successful business type buyers are exceptionally thoughtful about their time and keep their reigns on their day better than anybody. They don't want you to assume they're open to mindless chatter throughout the day, night and weekends because their personal life is equally important to them. They want you to be precise and productive if you call. Because of that, they work the same way.
Some of my all-time favorite buyers know they can text me whenever. They also know if I'm not answering, I'll get back to them the precise moment I can give them my full attention. A large majority of my buyers email at all times day and night but are extremely gracious. So their emails might go something like this, "Hey I found this home (link) when you have a moment send me the details but it can wait til Monday. Enjoy your weekend." When I get an email like that, I respond as fast as possible because I appreciate the fact they appreciate my time.
7. Buyers who continue the relationship after closing. Buyers who continue our relationship after closing are more likely to refer business and use us again. Some buyers aren't into making new friends and that's ok too. Great buyers though still think of us as an advocate when they're thinking of making changes to their properties or when it's time for repairs. Most agents keep a great list of vendors and know things about companies you wish you had known before you hired them. Have a tax or insurance question? Sure you can call your taxing authority or your insurance agent but we might have your answer too.
Recently I reached out to all of my clients after the storm and offered assistance. I was on the phone with quite a few past buyers. The opportunity to help gave me a chance to reconnect and offer a service. For me, it was an awesome reminder of how lucky I am to work in a place as beautiful as Naples and how amazing my past clients are. This Thanksgiving, I was especially thankful.
Ok, now you know how fabulous buyers behave and hopefully, I've uncovered a few things fabulous agents will do for you as well. If you're thinking about buying Naples real estate, I hope you'll consider using my service. I will take great care.
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