Why is it that we're in a buyer's market and getting buyers to buy is like pulling teeth? I see a lot of agents putting just about anyone in their car for a buyer tour, spending hours and hours with them, only to find they were never really "buyers" to begin with. What makes a buyer a buyer? They BUY! Everyone else is window shopping.
I'm sure you'd agree that we all lead busy lifestyles. The number one thing Americans wish they had more of is not money, it's time. So why are we wasting time showing homes to "shoppers" who have no intention of buying? I think part of it is the natural helpful spirit that made us become Realtors in the first place. But I think it's also because we're not taking the time to really categorize people. I don't like to be judgemental but... it's time to be judgemental! What do you get in return for a little judgement? You get time: time with your family, time for your hobbies (remember those?), time to lead generate, time to take a CE class, time for whatever you want to do.
To get started, write a list of all the buyers you're currently working with. All of them - from the guy you have in your car every other day to the guy who told you he's thinking of buying next year. Then rank them according to the following scale:
- A Buyer:
- Motivated: Prepared to write an offer today. Their lease is up, their old house sold, the new baby is coming, etc. Something in life is making this person ready to buy right now.
- Loyal: You know they will only work with you. Don't make assumptions here; actually have the conversation! Show them you are commited to them, tell them how that benefits them, and have them sign a buyer agency agreement!
- Able: They are financially ready to write an offer today. You've had them pre-qualified through your preferred lender, even if they've already been pre-approved by a brother-in-law!
- B Buyer:
- Able: Because no matter how much they want to buy a home, the money matters most!
- Either motivated OR loyal: After looking at homes for an afternoon you can get loyal people motivated and motivated people loyal - turning them into A buyers!
- C Buyer:
- Absolutely everyone else on the planet!
ONLY SHOW HOMES TO "A" AND "B" BUYERS! Now you're going to ask me, "How do I tell someone I won't show them homes?" You just tell them. Tell them you respect both their time and your's and you don't want to waste it. Tell them how you rank your clients and show them exactly what it means. I know an agent who has the A, B and C criteria printed out and asks the buyer to rank themselves! Then he asks them what would have to happen for their ranking to change (either up or down.) This takes the judgemental feel out of it and shows them you are a professional, not a doormat!
PS: You could easily tweak this and make it work for sellers. And never waste time or money listing a C seller again!
If you ever need a referral to southwest Washington, call the JMC Group at 360-609-6775. Or visit the "Contact Us" page of our website at www.MyRealtorIsJamie.com. We are here to help!
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