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Part of the job of a real estate agent is to invest in the buyer fully, from the moment they consider hiring you to the closing of the sale. As every agent knows, however, the qualifying process is what makes or breaks a deal. Follow these simple steps in order to get the most out of your clients.
Who Real Estate Agents Should Qualify
The qualifying process focuses on how valuable a client will be for your business. If a lead does not fit your criteria, what is the point of taking them on? Yet so many real estate agents insist on investing their time and effort into buyers that may not even work out.
Motivated buyers are what will earn you a commission check, not all buyers. The best way to go about defining who is a worthy prospective buyer is by asking the same questions every time. Use it like a script to evaluate who is actually interested and who is just looking around.
Firstly, how long has the buyer been looking for a home? If he or she has been searching for six months, off and on, there is clearly a lack of enthusiasm for purchasing property. These people are a waste of your time since you could be cultivating relationships with buyers who are ready to invest now instead of those that are somewhat interested.
Secondly, how quickly does the buyer want to in a new home? No impetus would make the buyer to buy right away if the answer is later rather than sooner. The shorter the available time frame for moving, the more reason he or she has to buy.
Determining Which Buyers To Qualify
Other questions agents should ask prospective buyers have to do with whether or not they are really worth the time. For example, if they need to sell their home before they can buy a new one, the agent who lists their home is the one they are more likely to work with towards the purchase. In this case, you may be able to act as their agent in both buying and selling the property. This leads into the next question: have you listed with another real estate agent? If they are already working with someone one, there is no reason to pick up someone else’s client.
Effectively Utilizing The Qualify Process With Buyers
Once you qualify a client, you need to look at how important he or she will be. If a buyer wants to wait for months before seriously investing in real estate, you will have to wait at least that long before earning a commission. How could you expend your efforts with other clients and utilize your time more effectively? Is it worth it to work with someone who might possibly use your services in the future?
Instead of waiting after qualifying the buyer, always ask for an appointment at your office. Unlike meeting at property, you have more control in your office, as well as exert professionalism. The buyer also knows you are serious about a working relationship, which will pay off later when you two are able to find the perfect home.
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