Redefine Your Buyer Agent Mindset for 2015
For more than two decades I have watched real estate agents roll the dice and let the home buyer take advantage of them, their profession and their time.
Why do we continue to gamble and let the buyer play the game better than us?
With the creation of buyer agreements we would think the game would stop but that is not what is happening at all.
My opinion is, I feel the level of training on how to present your value proposition to get a buyer to sign with you has not been taught compared to how we have been educated to work with a seller and sign them to a commitment!
What is Your Buyer Agent Mindset?
Do we just hope buyers will be loyal, roll the dice, stand back and see if we win some and lose some?
Is this the way we want to do business with buyers?
Or do we decide… real estate is my livelihood, this is serious and I am a lean mean appointment machine… this client has “X dollars” of my money and I want it?!
Buyers are not liars, we just don’t ask the right questions my friends. They use and abuse us because we allow them to and don’t have a system that allows us to take control.
Having the right mindset changes everything for a buyer agent.
The next important skill set is having the ability to qualify, measure the buyer’s motivation and determine their timing.
A successful buyer agent is one who can get a buyer to like and trust them quickly and ask powerful, engaging questions and than be quiet and listen!
Find the right scripts, dialogs and questions to establish rapore, qualification, motivation and timing of the buyer.
(I put together a PDF for you to download highlighting the top 10 benefits a buyer receives by using an exclusive agreement… enter your info below to grab it for free.)
The most powerful qualifying question for a buyer is the question “when”?
Once you’ve established your new mindset, and have the skill to build trust and qualify and now we need to answer the buyer question “why you and why exclusive?”
To effectively answer this question you need to first be able to understand and solve their biggest challenges for the home buyer.
Biggest Challenges Home Buyers Face Today
- Too much information
- 98% of listings they inquire on they won’t buy
- Can’t find what they are looking for
- Can’t find a deal to buy
- Best buys selling too fast
- Multiple offers and losing out
What You Can Offer to Solve These Buyer Challenges
- Provide data, interpret and advise
- Auto email listing alerts
- Provide them with sleeve, expired listings
- Multiple offer and negotiating strategies
- Mail and door knock service on behalf of the buyer
- All access pass to the MLS data
- Virtual tour all inventory in office to save time and create short list
The items mentioned above are just some of the things that help us convert the buyer.
Now let’s look at ways to engage the buyer and simplify the buying process.
Have them come into the office and show them your 4 step Home Hunting Plan.
Step 1 Qualification
Step 2 Tour homes virtually
Step 3 Pick short list
Step 4 Show and sell.
Here are a few of my buyer agent tips to save you and your client time, money and stress.
- Don’t work with them all. Pick and choose and don’t be afraid to send them away. No commitment then no go!
- Buyer presentation will help to get commitment and the buyer agreement signed just like your listing presentation. Do you have one?
- Show no more than 7 homes. The reason phone numbers were 7 digits is because the human mind can only recall 7 digits and the same us true for home views.
- Name and rate every home you show. By making up a name for the property the recall of memory increases and by rating they are helping the elimination process.
- Let them go in and you follow. They will get that feeling when they know it is the one. Look for the buying signals and follow behind.
- Close! Ask them to buy every house. Can you see yourself living here? Do you like this one enough to buy it?
- Show them the top 2 homes a second time right away. I increased my chances of an offer every time I did this.
- Write the offer at the kitchen table of the home they are buying. Psychology helps them connect and you make less mistakes with inclusions and other contract items.
I trust that you find value in this weeks content and begin to really work with buyers at a higher level and get a commitment and get paid every time!
I put together a PDF for you to download highlighting the top 10 benefits a buyer receives by using an exclusive agreement… enter your info below to grab it for free.
Strength and Courage,
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