There are still questions regarding which business plans actually work. After you have all the listings, you will get buyers. Work with the wrong buyers, and you won’t have time to get new sellers. So, when I was recently asked how to get buyers off the fence, I responded with the following:
When asked the question of how to get buyers off the fence, the only answer is that unmotivated buyers like to balance up there far longer than motivated buyers. Motivated buyers need to be captured with great service then sign a loyalty agreement. The unmotivated buyers need to go to your competition.
When determining buyer motivation, you need to ask them twenty-five questions addressing their goals and needs. This question list will show that you care about the outcome rather than simply the commission. If they will not answer the questions, give them the services below. If they still will not answer questions, refer them to your favorite non-busy agent in the office for a referral fee.
Who is a buyer that will not answer questions after given the best services in town? They might be a committed buyer in another escrow trying to discover if they got a good deal. They might be a seller looking for comps. They could be a buyer committed to another agent. Maybe they are just lonely!
Motivated buyers will respond to your promise of showing them property that no one else will ever show them. Here are the places to find those properties:
A. Finding FSBOs that fit their needs
B. Researching expireds from the last two years that have not relisted that match their needs.
C. Contacting property owners who own property in their target neighborhood.
D. First viewing of your new listings that match their needs
E. Commitment of showing them all new office listings that match their needs early in the listing process
F. Contact my database for past clients who own property matching their needs
G. Advertising their needs without disclosing their identity in all internet and print advertising
H. Including them in your REO and short sale buyer lists
I would try to only have one buyer in each price range so they could receive my services exclusively.
After you share these services with a motivated buyer, they will answer questions. Next, get them pre-approved. Have them meet with you in the office to sign a loyalty agreement (buyer-brokerage agreement).
Did you notice the lead generation aspects in the above items? You are using your buyers to generate more seller leads, thus increasing your chance of double-ended transactions.
You will find that after the buyers have jumped through these hoops that they won’t get off the fence…they will fall into your arms!
Walter Sanford was one of the top real estate agents in North America for nearly thirty years, and now, he is one of the most requested speakers, trainers, and coaches. He has authored dozens of systems and books on checklists, pro-active lead generation, affiliate lead generation, plus others. You can hire Walter for speaking engagements or coaching or buy his products by visiting his website. For more details, visit www.waltersanford.com, call 815.929.9258, or email Walter at walter@waltersanford.com.
