Most real estate agents work with buyers, especially when they first start out in the business. Many agents know that they will spend a lot of time showing properties to people. Some of them buy, some never buy, some buy eventually, and some buy after they have lost contact, and begin to work with a different agent.
The biggest tip for selling more houses, is only to work with buyers who are ready, willing, able – and committed. It seems like a tall order, but if agents have a system for only working with the right buyers, they are likely to spend more of their time mainly working with the right buyers. No system is perfect, but when they use this system, they will sell more houses. Let’s look at how many agents work, then at how really successful agents do it.
A Typical Scenario
Your phone rings because someone saw your yard sign, your ad, or something you put out on social media. Or they walk into one of your open houses. You have the usual polite conversation. You ask more about their interests, needs, etc. Then, you either offer to show them some properties or you go into your detailed questions, to qualify them, properly.
Sometimes they just want info, so you agree to send it to them, and they say ‘Yes’ when you suggest keeping in touch and sending them new properties as they come on the market. They are also running their own searches on Zillow and on the public version of the MLS, etc.
Quite often, they have had the same conversation with other agents, and sometimes you “win.” You start showing them properties. Sometimes they buy, but often they do not. How can you increase the chances of only showing properties to people who are more likely to buy? Is there a better way?
A Better Way
There is a better way. It might take a little extra courage to start working this way. Like anything else new, it takes a little time to get good at it. The big difference is that, now, your goal is not to arrange a showing or to get them to agree to receive more info from you. Your goal is to build commitment.
Most real estate agents don’t build commitment, they build workload in exchange for nothing very much from the caller other than name, email address, phone number, or in exchange for several hours of your time showing them homes – so you can get to know them better, and so you don’t ‘lose them’ to someone else.
Move beyond that mind-set. Build commitment and you will sell more houses. Here’s a system you can use.
- Thank them for calling, and cover the pleasantries
- Ask what it is about this home that they really like. If they just walk into your office, ask them if they have a particular property in mind.
When Opportunity Knocks
Let’s say they saw your yard sign, and would like to know more. Here is your opportunity to get ahead of the other Realtors they have probably also called about their listings.
- Tell them you will be delighted (or use another powerful word) to tell them more.
- As you do, ask them just a few qualifying questions about them and this particular listing. Only ask a few, most people object to being grilled in the first conversation.
- Tell them you would like them to visit your office, or you will come to them, so you can learn enough to be of real service to them. If they agree, setup the appointment.
- If they object, “Well we only want some information right now” take their thinking beyond the objection, and say that you also want them to learn a little more about you, because your goal when working with buyers is to enable them to make high quality decisions, rather than just to help them buy a house. As a true professional, you want to do two things – learn just enough, at the first meeting to be able to dig deeper into finding really suitable homes for them, and for them to see you as a truly valuable resource, not just a regular real estate agent.
- Tell them we are only talking about 30 minutes – because that will be more than enough time for you both to decide you want to work together.
If these potential clients still do not want anything more than you spending your time in exchange for no commitment, send them some info, just like everyone else will. If they agree to your meeting – the ready, willing and able buyers probably will – you will immediately know two things:-
- They are serious about buying, and you can be comfortable advising them, helping them to get pre-approved, selecting properties for them to look at, etc, and
- You are ahead of the pack – no other agent has the inside track, so if they do buy, they will buy through you.
Show Your Appreciation
You might decide to add a little ‘thank you’ for agreeing to the meeting. Take them a little appreciation gift from our selection. 50% of the population will be surprised and pleased – you will have cemented your relationship straight away. 25% will wonder why you did it, but after your 30 minutes with them, they will be satisfied you are their Realtor of choice, and the gift will be appreciated. The other 25% won’t care.
This system will get you in front of more real buyers, and will help you to cement your relationship, so you will spend less time with the ‘Looky Lous’ of this world – and you will sell more houses.
We have many ideas that you can use for gifts. Use them at the first meeting, or when they have arranged their mortgage. You can also use them when they have found their perfect home. How often you show your appreciation is up to you. We just want you to succeed, and to call on us whenever you need ideas.