I am interested in how you go about showing homes to prospective buyers. What order do you show homes in? Do you plan out a map and go in order from nearest to farest or farest to nearest? Do you show worst to best or best to worst? Do you show in price order? How many homes do you schedule in a day? Now for the big question..... On average, how many homes do you show before writing an offer?
I am interested in the how and why of your showing order. Please share your thoughts.
Konnie, thanks for the reply. How many homes do you usually show before writing an offer?
I go by geography. It is the most efficient way to ge the job done. I also don't usually show more than 6 houses at a time. By then with driving their brains are fried and they need time to think.
I try to not show more than 6 properties in any one day, unless an unusual circumstance. (Relocation buyer from out of town that needs to move here quickly and needs to zero in on not only community but also style of home.)
I find which ones are vacant first, then plan a circular route that best maximizes both the driving route and appointment times in order to accomodate the occupied property owners.
I always tell the buyers to compare the property we are in at the moment to the last one, and ask "if you had to choose one of these two properties to buy today and had to dismiss the other one(s) which one would you buy?" I try to get them to verbalize why they would make that choice and keep notes, so as to totally dismiss properties of little interest in order to avoid confusion.
I don't have a set number, the property has to be right for the buyer, not for my need to arbitrarily limit how many they are allowed to look at.
I use the nearest to farthest. That way as we are traveling back to starting point it give us a chance to discuss the options and also if they want to drive by one more time it's in route.
Like Steven, if possible, I try to show the best first and I always preview.
If there are too many and geography doesn't permit, I start with the farthest and work out way back to where we started.
I discuss in detail the features a client is looking for in a home. I try to preview first, and then take them to look at no more than 4 initially....the best 4 I can find. Sometimes I show the home that I think is best suited for them first and sometimes I show the one I think is best suited last. It's just an experiment that I alternate to see the results. They usually pick the one I have found most suitable for them, but I never tell them what I think. I just point out the features of each. It's interesting to watch people when searching for a home. This doesn't always work though.....I showed one couple about 60 homes last year and learned a valuable lesson by doing so. The bought a FSBO without me! They left a very nice gift at my office to relieve their guilt!
Geographically is the only way it makes any sense at all it seems. All the best.
Thanks for all of the replies. The one question that I am waiting for an answer is how many homes do you typically show before writing an offer.
Our number used to be really high until we started showing the very best first and asking the buyer to tell us when the next home we go in no longer meets their needs. Now we don't normally show more than 5 before the buyer finds the right home. This is after a 45 minute buyer consultation and a buyer broker agreement. We only work with buyers who are motivated,qualified and loyal.
I show them the one they seem most interested in first, or the town/village they mentioned first. I have them do a drive by first to see if they like the area, and the neighbors houses. The basic rule is no more than 5 in one day. It's hard to say the average amount of houses they need to see first before putting in an offer. It varies alot depending on the clients.
Hi Jeff, nice post. We've had buyers buy on the first time out and buyers who saw 40+ homes before buying. We usually don't show more than 5 or 6 at a time. We typically show by geography, closest first but sometimes it just depends on when we can get in. We sell a decent amount of luxury homes and these buyers tend to be very particular, which they should be, and take a bit of time. We work in close proximity to where we live so it works out fine. We use the buyer broker agreement and have loyal clients who appreciate our patience but we're certainly open to trying your technique of showing the best first and see what happens. Much success to you in 2009.
Hi Jeff, I like this question; I love surveys too!
I always show the houses in geographical order. Most of my buyers want see homes in Carmel, Fishers and Lawrence Township and that can be quite a few miles, so back tracking isn't an option I consider for me.
I typically don't like to show more than 8 houses in a day; unless they are out of towners and then I've shown upwards of 25 in a day.
Most of my buyers buy within seeing 11 homes. At least that has been my average.
Thanks for the replies!!! Cindy, thanks for the answer of 11 homes as your average. I still don't think anyone else has answered the real question..................
On average, HOW MANY HOMES ARE YOU SHOWING A BUYER TO GET THEM TO WRITE AN OFFER? Our average is 5 or less. We find THE BEST, and show them that one first and then the 2nd best and by the time we hit 3 or 4 the buyers understand that the homes are not getting better, they are getting further away from their criteria or needs. Before we did this, we did geographic and our averages were much higher, more like 15 to 17 homes shown before contract. We would show good, then better, then worse and the buyer always seemed to think the next one might be better.
THANKS again for the replies, have a very Merry Christmas
Jeff - Great post, and it really got me thinking. I've had buyers who get into contract very quickly and others who are looking for the best deal, especially these days. I have tended to show geographically, but am going to switch to best first to see if that is more efficient. I'll keep an eye on this post to see what others have to say.
Jeff - If there are only a handful of local properties that meet the buyer's criteria, yes, your method is a good one. If there is a ten or more months supply available, then of course there could easily be dozens of properties that might meet the criteria. Regardless of how much of a controller a REALTOR is, there are a few things that must take place: The property has to speak to the buyer (period). Often buyers need to get that "chewing exercise" out of the way before their shopping/hunting/gathering needs are satisfied. It is good that you have your number down to five. Should you attempt to limit that to some buyers, of course they will find a REALTOR that will satisfy their unmet wants and needs. The average depends on the buyer, not the REALTOR.
Happy holidays to you!
Jim, thanks for the comments. The realtor NEEDS to be the controller. The average does not depend on the buyer. We ONLY work with buyers who meet 3 criteria, MOTIVATED, QUALIFIED AND LOYAL. We do an extensive buyer consultation to get the "chewing out of the way" before we decide if we are going to work with them, If they do not meet ALL 3 of the above criteria, we will not show them property. In a buyers market, we believe that only 10% of all properties will sell due to price, condition and terms, which is why there may be a 10 month supply. One thing we do know is that the good ones will sell fast and the bad ones (price, condition and terms will not sell fast) Once we narrow down the search to what they need and want in the price range and location that they are looking for, there really are not alot of homes to choose from. We go 3 deep in all of our questions to find out WHY that something is important. If a buyer thinks we are limiting their search, that is OK, there are plenty of agents who will be their tour guide. Like I said, Motivated, Qualified and Loyal; otherwise we choose not to work with them.
5 a day w 10 max...( 2 days work) before an offer or else referring them out to buyers agent ( they are not ready to decide - we spend a few hours prep time in advance going over mls listings/disclosures/homes we've seen that fit, etc...and then have them drive through the neighborhoods themselves and whittle down the list to best picks before showing anything). We prepare them ahead of time we will have an offer ready to write at the kitchen table of the one they choose.
Happy new year Jeff
Sincerely,
Grace
I usually try to show in sequence of location so that I am not bouncing all around the area. Saves time and gas.
I preview the homes that i wish to show and have the "perfect home" as home 3 or 4 regardless of location
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