Daytona Real Estate Training

Why Do Some Real Estate Agents Short Change Buyers?

An agent works with a buyer for days...they get the buyer pre-qualifed for a loan and off they go in the car.  What is wrong with this picture? 

Why do some real estate agents short change buyers?

I say this because we take the time to sit with a seller...we prepare to meet with the seller..we provide a consultation..we have them sign documents before we market their property and then market the property. 

Too many times I hear agents who discuss buyer loyalty but when I ask questions this is what I get:

  • Did you sit with the buyer and explain the process?  Well I had them meet me in the office and off we went or they called on a particular house so I met them there!
  • Did you discuss the steps in buying a home?  No we just took off
  • Did you see their approval letter?  No they told me they were approved 
  • Did you prequalify them based on their wants and needs?  I know they are looking for a 2 bedroom home.

WOW, OK..lets think about this...think about the way you treat a real estate seller..do you believe in your heart a seller would list with you because they just called you..no you must show your value right?  Why not think along the same lines when working with a buyer. 

What if you were to spend some time getting to know the buyer's wants and needs. 

How about a true consultation..meaning taking the time to get all of your ducks in a row and their ducks in a row with the understanding of their wants and needs and they with the real estate buying process.

BUYERS DESERVE THAT AND MORE!

Many times if you are showing many many homes to one buyer there is a good chance you have no idea what they are looking for and sometimes neither do they.

How about having a buyer sign a buyer broker agreement for the homes you show..for for a day..month or 3 months?

Get to know your buyer and what their wants and needs are.  Protect yourself with a buyer broker agreement but more importantly take the time so that the buyer will feel good working with you!

About the Author:  Midori Miller is licensed in the State of Florida, BK645709 and currently hangs her real estate license with CENTURY 21 Sundance Realty.  Midori is also a real estate trainer and an Activerain Ambassador and specializes in short sales for Daytona Beach real estate sellers.  If you are in the market to buy or sell real estate in Daytona Beach, Florida..please contact us!

41 comments • Florida Real Estate Trainer | Daytona Beach After School Training | Midori • August 05 2009 07:01PM

Target Marketing....Who?

 

Interesting characteristics of buyers.... Where are they?  Can they find you?  Can you find them?  To target market you must first understand who the heck you are marketing.

 

Average age for home buyers is 41 years of age.

1st time home buyers median age is 32.

Repeat home buyers age 47.

30% of all home buyers are between 25 and 34.

First time home buyers account for 36% of the homes purchased.

1 in 5 homes were new construction

74% bought homes simply for homeownership

 

  • If the typical home buyer is 41 years of age, ask yourself this simple question, does my  marketing appeal to the typical homebuyer?  While the Internet is incredible and yes you get your info immediately, I still want good old fashioned customer service or service with a smile, I want to click with the professional I choose and may start my search on-line but I would most likely ask a few of my close friends for a Real Estate Professional's name.   That's right a referral.

 

  • If 30% of all home buyers are between 25 and age 34, you can bet I would be Internet savvy for that age group.  People coming out of college now have a different mentality and want it now!!!!   Don't under-deliver, Don't over-promise, just get it done.  This age group is not interested in details or challenges, they hired you so they expect you to do your job and do it well.  This is what this group is looking for.

 

  • If one in five homes sold is new construction, I would put some effort in connecting with home builders, marketing on-line and in publications regardless of how I personally felt, the consumer is still interested in new construction and I for one would work hard for a piece of that market.

 

  • If 36% of all home buyers are first time home buyers, I would invest some time and money to market this group. These will be your customer's for life without a doubt.  First time home buyers need real estate professionals.  Provide value with city, county and state grant money or down payment assistance programs.  Learn the different programs that benefit the first time home buyer.   Remember the key words "First Time." Hopefully if you did it right, they will think of you when they outgrow their current home!

 

  • 74% purchased a home for the sake of "homeownership!"  What does that tell you? It gives people a sense of pride and accomplishment. That's right, "The American Dream!"

 

 


 Real Estate usually makes for some very interesting conversation!  Especially if you are a real estate professional.

Just because someone state's they are a buyer, Prequalify.  The real pro's have it down to a science, I do!

Remember 100% of the college students utilize the Internet, if you are not so savvy, get hopping, I would pay for a class if I were a struggling computer illiterate.

Really target market and be a resource for buyers, you will become the "Go to Realtor"  because you understand the speciality and people are aware of your special skills.

For many people buying a house is just a small part of the equation, even though real estate is vital to you!  You have no idea what has prompted this person to relocate or move and buy a home.  Another words for a moment stand in their shoes! 

Now instead of complaining there are no buyers out there....Look for them....Market them....most of all when you get one, treasure them, if you do it right, you will have a customer for life!  And if you don't......someone else will pick up where you left off.

Statistics are from the National Association of Realtors.

Original Post

9 comments • Florida Real Estate Trainer | Daytona Beach After School Training | Midori • June 19 2007 03:33PM