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The Importance of Being Earnest or Setting Proper Buyer Expectations

  Last week Dorie Dillard in Austin wrote a great post that got me thinking about how a good chunk of Buyers out there look at the real estate market.  Buyers these days are lost at sea out there bombarded by anyone and everyone that thinks they are a *real estate expert*.  The only thing most can do is cling to a sense of entitlement and believe in the negativity of the macro level forces. 

  If your business involves working with buyers of all sorts then I want to stress something that will define ultra successful agents of the future relative to those that are fine with the current status quo: 

  The agent who clearly articulates not just the buying process to a buyer, but also the current market environment (on a localized scale) and inspire them to make a decision to purchase sooner than later will truly be the one who dominates their respective real estate market for years to come.

 Think about 3 points I just made in the above paragraph for a few minutes because this has driven the success my team has had in the real estate business and continues to be a driving force for the services we provide.  We as agents need to inspire and properly articulate the market for Buyers to have an accurate picture so they can make reasonable offers and buy real estate!  

 Anyone can briefly talk about the process to a prospective Buyer out there.  But does every Buyer know about the importance of having an experienced agent let alone how the buying process actually works?  Give me a nickel for all of the Buyers walking around out there without being under contract with the agent they are working with and I wouldn’t need to work anymore:)  Give me another nickel for all of the Buyers out there that don’t see purchase docs till the night they are writing their first offer:)  And lastly give me a quarter for every Buyer out there that doesn't know how agents make a living till they ask if they owe you anything the day of closing!

 If you have a focus in a particular niche of the real estate market it is essential to be able to speak the language of that given market.  You can do as Dorie does and give plenty of stats to your buyer clients on active, pending and sold units on a weekly or monthly basis-a big help!  You can go a few steps further and discuss recent developments taking shape around the area be it residential or commercial as well as point out individual listings that have sold and most importantly list to sale price for point of reference.  Buyers simply love knowing what’s going on more than what things say on paper and explaining plenty of details gain Buyer’s trust and confidence in the market.

 Lastly-and this is most important-Buyers are not going to write an offer on anything until there is a bit of inspiration behind the purchase.  Buyers want to believe in something that is bigger than us.  They want to know that this is a tight knit community, that there are people is this neighborhood they are buying into that they will know for the rest of their lives, that there are others that share their interests.  People we need to be able to paint a picture for our Buyers to believe in! 

  Markets go up and down and years from now once again every agent out there will be busy handling Buyers and Sellers.  Those that are learning from their lessons now sharpening their teeth on the current market are preparing themselves for an even greater opportunity in what lies ahead in the future. 



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Ben Ganje + Partners

Professional Real Estate Services 

 

 

As a Residential Realtor, Builder and Developer Specialist, we sell homes in and around Minneapolis, Edina, Lake Minnetonka and the surrounding areas in the Twin Cities.
 
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Referrals from around the globe are always welcomed and appreciated, call us at 612.468.5638 or email ben@yoururbanlife.com. Thank-you!

Comment balloon 1 commentBen Ganje + Partners • October 19 2011 11:52PM

Comments

Well said, Ben.  In the case of buyers who were working with another buyers agent, ended that relationship, and then started working with me--I'm amazed how little their previous agent taught them/educated them on the market/process.  Blows my mind.

 

ps Love your logo.

Posted by Steve Matsumoto, First Time Home Buyers - Oceanside, CA (Winderemere Homes & Estates: waterfront condos, second homes) over 6 years ago

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