Working with buyers provides you with a great opportunity to demonstrate your skills as an agent, develop trust with the buyer and create an advocate for your business. Most buyers are looking for their dream home; a place the meets all of their criteria within a reasonable price range. They may not realize that buying a home is a process of elimination, not a process of selection.
The key is to work with buyers effectively and efficiently, helping them narrow down their list of options until they find a great home. While you’re helping them find a home, you’re also planting the seed for future referrals.
The Reactionary Approach: How Most Agents Work with Home Buyers
Agents who hesitate to work with buyers are probably taking a reactionary approach to the home buying process. The worst thing you can do when working with buyers is let them take the lead. When you do that it wastes both their time and yours. Instead of trying to turn the buyer into an advocate for your business, you’re chasing after them for a commission check.
The Strategic Approach: The Best Way to Work with Home Buyers
Professionals that use the strategic approach lead buyers through the buying process, becoming a trusted advisor and helping their clients to narrow down the options available. Strategic agents are proactive and explain to buyers that buying a home is a process of elimination, not a process of selection. They use their time, energy and money efficiently and turn buyers into advocates.
The strategic approach is divided into three steps:
1. Set the tone. Meet with buyers at your office and explain to them how and why you work by referral. If they won’t come into the office, they’re not a buyer.
2. Engage your buyers. Educate your buyers on the local market and encourage them to look at homes while they’re out and about. Also, make sure you update them regularly, even if no new homes that match their criteria have come on the market.
3. Lead your buyer to make a decision. Ask your buyer what they like and dislike about the properties they see. If they like a property, ask if they’d like to write an offer on it. This will help you better understand what your clients really want.
Working with home buyers is just another way to exhibit your character and competence as well as encourage the generation of future referrals. Since buyers are actively engaged in the real estate process, they can also be the hottest source of referrals in your business, especially if you ask.
“Oh, by the way® … if you know of someone who would appreciate the level of service I provide, please call me with their name and business number. I’ll be happy to follow up and take great care of them.”
Did you know that you can create a marketing campaign in Referral Maker™ CRM that specifically targets your buyers? Use the Buyer Nurturing Template to access the activities including follow ups, check-in calls and much more. If you’re not using Referral Maker™ real estate CRM software already, what are you waiting for? Click here to learn more and to start using Referral Maker CRM today!
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