An agent friend of mine was complaining because a buyer she had been working with called her Sunday evening excited with “good news” and wanted my agent friend to be the first to know. The caller had just found a house on Friday and got an accepted offer. Didn’t my friend feel special? She asked if it had the four bedrooms they were looking for. “Nope, we got three bedrooms.” She asked if it was two-story contemporary home. “Nope, single story ranch home, it’s beautiful.” The agent wanted to know if it was in their target area of South Temecula. “Ah, no, actually we found a great deal over in French Valley! There are some amazing home deals over there.” My agent friend congratulated them and quietly hung up the phone before screaming at the top of her lungs, ‘buyers are liars!’”
I am sure this scenario plays out time-and-time again. Agents whine to one another at how much buyers will say one thing but end up doing something else, showing no loyalty. They blame their buyers, they blame the internet, they blame other agents who ‘stole’ their clients…they blame everyone but themselves.
In my opinion, the buyer did not disservice the agent, rather the agent did the huge disservice for the buyer, by not doing their job properly.
Was the buyer counseled?
Buyer counseling is a critical step in the buying process. It is an extension of qualifying the buyer. Qualifying a buyer relates to the financial aspects of buying a home. The agent should always inquire into the basic situation and then refer the buyer to a lender that is up-to-date with the various loan programs available and the current requirements to secure a loan commitment. This in itself can be a moving target.
Counseling expands the interview into discussing the current “state-of-the-market”, their specific current and future housing needs vs. wants. It should also include their past ownership experience, and reveal what motivates them and what their objections really are.
So why do many agents avoid this critical process? Perhaps it’s the fear of getting too personal. Or maybe they are just impulsive and ignore the process completely. Maybe, they just believe that this buyer is the answer to their prayers and that they will just buy quickly, hoping everything will be all right.
It is so critical that real estate sales people (actually this really applies to all salespeople) must spend time getting to know their customers and preparing them for the process. It’s relatively easy for a prepared and properly equipped professional to secure the counseling appointment by presenting the benefits to the buyer: saving time, finding their dream home quickly, getting them the chance to be the first to see a new home when it comes on the market, save them money and seeing only homes that met their criteria.
What motivates buyers?
How many times have you wanted to buy something based on an emotional need and all the salesperson would do is feed you technical facts and figures, taking the wind right out of your sail and talking themselves out of the sale?
Today’s day-and-age, many buyers educate themselves on the Internet. The injustice to the buyer incurs when the agent just assumes the buyer knows what they are talking about and relies on that buyer to tell them what they really want.
Real estate is an emotional sale. Just gathering the features and specifications the buyer shares is the agent’s mistake…and it’s a common one.
If you are planning to buy a home in 2014, you owe it to yourself to work with a REALTOR® not just an agent that can manage the entire process. Feel free to contact Mason Real Estate for a no-obligation Buyers Counseling Session and get the information you need to make an informed decision. Do not miss this opportunity. The info is free, call now! (951) 296-8887.
Questions regarding available inventory and/or other real estate matters please contact us at
Mike@GoTakeAction.com. Mike Mason, Broker/Owner of MASON Real Estate Cal. BRE: 01483044, Board of Director of your Southwest Riverside County Association of REALTORS® (SRCAR), Traveling State Director, California Association of REALTORS® (C.A.R.).