While seller demand for real estate professionals is incredibly high, buyers are less drawn to hire out for services. There are many reasons for this, most notably that people feel they can search online or scan the listings on their own. While it’s surely possible to analyze the housing market individually, it’s still critical for buyers to consult professional counsel when such a large decision is at stake. Any misstep can end up costing tens of thousands, at minimum.
As a buyer representative, you have to go the extra mile in convincing these people that you are there to help them. There are certain critical focus points to help you do that, and they’re listed below. While we all know that each situation varies and fluctuates within an always evolving real estate market, these points are meant to be a reference point.
Make Your Worth Known to the Buyer
In any meeting with a prospective buyer, it’s critical that you relay the message about just how valuable you are to them as an asset. Successful relations with buyers start and end with a unified connection and the first step is proving you to be on their side. It’s an easier thing to do when a seller is concerned, because everyone wants more money for their property. On the buyer end, you need to sell the fact that while they have information from the public listings, you have inside knowledge about the market and the particular real estate niche they are buying within.
Important: You need to relay to the buyer that just because there is a mortgage calculator and a plethora of listings online, it doesn’t mean that they have all of the tools they need to make the most efficient purchase. Many of these people are in unique situations that don’t lend themselves well to traditional home searches for property. First time home buyers, or even Native Americans trying to negotiate HUD 184 loans for purchase on tribal land, are examples of buyers that require professional counsel. These are intricate situations that suggest the need for specialized advice. With the fluctuation in our economy in the last few years, and thus the real estate market, every situation is even more distinctive from the next. Do your best to make this clear to them by openly stating what value you offer as a professional.
Clearly State Your Intentions
Some people are wary of real estate professionals. It’s similar to prevalent sentiment about doctors, lawyers and politicians. Whether it’s because we’re intimidating, or some other reason, one way to mitigate the issue and improve client relations is to clearly state your intentions in the process. Some questions to ask yourself, before then relaying the answers to your buyers:
- What can I help them with that they can’t do themselves?
- Why am I the right man or woman for the job?
- What can they expect from me?
- What can I expect from them?
- Do we have a timeline?
- What are their goals?
- How can I be the direct contact they need through this process?
- What questions should I expect them to ask?
- What answers do they expect me to provide?
Important: Similar to any business situation, it’s imperative to make your intentions known. Specifically when dealing with buyers, this is even more of an integral part of the ordeal. Take the extra time to lay out your targets, whether it’s on paper or in an honest face-to-face conversation. Help your buyers understand that you are not only a touch point for them throughout the journey, but a member of their team trying to get them into their dream property.
Buyers are always more hesitant to seek professional counsel within the real estate sphere. All this means for you is that you need to go the extra mile and explain how your services can make any buyer’s life simpler. They may have the information from their dream house listing, but you know the market lingo and the way that things fluctuate in a volatile industry. This process starts with the counseling session and ends with a good night of sleep for your buyers. This night of sleep would be in their new dream home, of course.