The buyer's mind

By
Real Estate Agent with Keller Williams

 

 

You are ready for your meeting with a buyer, you know everything about the property in question. all research has been completed. Your buyer is going to be impressed with all your information you have ready to show them.However, there is one major problem-I mean a big problem-the mind of a buyer. As you all know sellers think their homes are the best. When you first meet a buyer you ask typical questions about their  needs, you know how many bedrooms, and other basic questions relating to the type of home and the amenities.

Many agents never ask "why are you moving" as a professional salesman in other fields I have come to understand that buyers are looking for a person who has the ability to convince them this house is O.K. to buy because we will assist you through the process of purchasing your home. Think about working with a buyer who is qualified and has an interest in purchasing a home then the start to worry " more like fear".

I have many situations for which I successfully assisted the buyer through his/her concerns, the most common is I cannot afford to buy a home. My first question is how much do you pay in rent? When they tell me 80% are paying rent higher then they would with a 30 year fixed rate mortgage. Most say they are not buying because of fear, they complain about how bad economy is and that everyone is losing their jobs and foreclosures are rampart.I ask them what percentage of people are working? They say I don't know I know unemployment is so high, I have statistics with me from sources the can double check. When the complain about job losses I ask them " did you know that over 93% of people are working and in the poor communities where unemployment is much higher the is due to the fact that unemployment  checks equal to as much as a minimum wage paying job so why go to work."I ask similar questions about foreclosures and the economy. I then wait for their response for which I know after I will  have a buyer.

You must be able to explain to a prospect that the cup is half full; this is an old adage that you must be able to prove to your prospects that buying a home is a good decision for them and you have their best interests.Never look to the media for your information you give prospects! You! Yes you must know how to talk with prospects.

Look for legitimate statistics, here is small sample of what  I use.

1) http://www.bls.gov/

2)http://www.labormarketinfo.edd.ca.gov/ (or your state)

3) http://www.nahb.org/fileUpload_details.aspx?contentTypeID=3&contentID=45409&subContentID=154674&channelID=311

4) http://uclaforecast.com/

5)http://www.bankrate.com/

6) http://www.trulia.com and simlar sites such as zillow and realestateabc.com

7)http://www.hud.gov/offices/hsg/fhahistory.cfm

Thank you, Joe Padovich

Please call if you need any coaching or  just have a question.

 

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Rainer
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Joesph Padovich

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