So much goes into viewing properties for sale. There is coordination and planning whether you’re an agent taking out a buyer or a broker joining a caravan. But there is one thing you should never do.
But first, let’s look at what you should be doing when you view properties on the market in your area.
Find out your buyers’ needs and wants
The consultation is a critical part of understanding your buyers. That conversation should cover everything from external factors to personal ones.
Market conditions: available inventory, buyer negotiating power, interest rates and local list price to sales price ratios.
Define criteria: every agent has at least one story of hundreds of hours clocked with a specific buyer, touring listing after listing after listing. Maybe it was the market. And maybe it was unclear criteria.
Get your buyer’s financing options buttoned up
Believe it or not, there was a time when buyers only talked to lenders after they made an offer on a property. But as the market became more competitive, offers from buyers with cash in hand or a loan ready to go were preferred.
It takes time, but it’s worth making sure your buyers a prequalified for a loan before you start showing them property.
Send them to your RELOLADEX for a lender and attorney they can trust, and insurance agent they will need to close. This way they will know their buying parameters and be ready to jump when they find the right property.
What’s the one thing you shouldn’t do when viewing a listing with a buyer? Sell.
When you go into a listing with a buyer, your job isn’t to sell the home. And many agents might disagree with this -- after all, the sale of a listing is what will earn you a commission. But not necessarily that listing.
You should be by your client’s side as a consultant, offering every bit of your local expertise with each property you tour. You’re not selling the property. You’re enhancing their experience.
Some buyers want an agent to lead the way, pointing out features, deficits, opportunities. And some want an agent to stop at the door and let them explore before they discuss anything specific.
It’s critical to be a listener, not a salesperson, as you lead your buyers on their journey. And of course, publish your own Insights on Relola so other local buyers and sellers can take advantage of your expertise as well.