There's a conversation going on at another forum about whether or not to work with an Internet buyer who wants to buy a home in June. The general consensus is that the agent shouldn't waste his time on a buyer who is not ready, willing and able to buy today.
WHAT??????
This attitude completely befuddles me. Are real estate agents in today's world so darn busy that they can't spare a few hours to build a relationship with someone who showed up at their door - -LIKELY AS A RESULT OF THE AGENT'S ADVERTISING??? Are they so arrogant that they must actually belittle the buyer for contacting the agent TOO SOON???
Or, are they so damn dumb that they can't see the value in having a nice full pipeline??
Hey, if someone is crazy busy and has a true need to triage his time; well, then sure! Refer to the buyer to a hungrier agent or, if he prefers, rudely blow him off. But somehow I don't think that's the case for most of us...
If you find yourself with a Denver buyer who isn't up to your standards of readiness, send 'em my way. I'll be delighted to work with them, build a relationship, and enjoy their business and referrals for years to come.
A Soulful Bootcamp for Green Bean Agents!
Hi JA.
And if that Realtor has a buyer looking in Naperville in June, I will happily take the time as well.
It drives me crazy how discriminating Realtors always are. Most have a lot of time on their hands.
Thanks for writing,
Ken
Wow!! That's incredible to hear! I would take the time for a buyer that was going to buy in 2011 for Pete's sake. It's all about filling that pipeline!!!
I agree with the pioeline approach. I love to know that at X time, I'll be closing no less than X dollars. Forest through the trees approach.
Hi Jennifer
Customers are like annuity, your put them in your prospect account and make the deposit in your bank account when they close.
Good luck and Success
Lou Ludwig
HI Jennifer, this often perplexes me too. I believe I take the time to get to know that person and build that relationship so when they are ready to buy, its my name that is on the top of their mind.
Send me that buyer looking for next month, next quarter or next year.
It just seems so OBVIOUS, doesn't it? Glad to hear you all agree!
Business is earned and you get compensated in June just as much as you would in March. Who knows the situation may change and the buyer may move the time table up too. Obviously an agent who doesn't want to work. Good luck!
Building a relationship with buyers is key to success.
The reason my last year was my best year yet was ALL due to pipeline. I have an automated program that they can use, at their leisure, and I can keep track of them...I'll be the only agent they see and they call me when they are ready.
Once you turn them down you'll never get them back.
Gary - SO TRUE!!!! And it takes so little time to show someone you care. A waste of time? NEVER! Even if they don't ever buy anything, I don't mind - I'd much rather take THAT chance than ensure that they never buy (from me anyway)
Morning Jennifer, I wonder. Do these idiots really expect us to believe what they are saying ? C'mon, get real !
Karen - During my full-time real estate career, I never, ever had an empty pipeline. It feels good, doesn't it?
Connie - I love it!!!! Money received in June is just as green as money received today...
People who decline business ought not be surprised to see their business decline. They are also outing themselves as lazy bones who are interested only in picking the low hanging fruit.
If someone told me that they wanted to buy a house and close in June I'd roll out the red carpet. We'd plot out a plan of action, I'd tell them what I need from them and what they'll need from me, troubleshoot, and so forth. If the deal fails to materialize I have built a bridge. If the deal goes through I make money. In either case, they could very well be a referral source for more business.
Err on the side of possibility.
Bill - Yes, I believe they do. And I believe that THEY truly believe they are being good stewards of their time...
In the mortgage business we live and die by the pipeline approach... You have to constantly be pumping business into one end of the pipeline and eventually it pops out of the other end! While you may not want to spend endless days showing houses to a future buyer... you can still work with them and build that relationship. I am not sure I would show them homes that may not even be on the market 6 months from now... But send them listings and work towards educating them so they call YOU when they are ready... ABSOLUTELY!
I think the Statistic is: the average buyer talks to 17 agents prior to buying.... Because the other 16 agents dropped the ball and did not follow up!
Holy cow! I tell all of my clients that January is the first day of spring in real estate! In order to accomplish a move in June they have to start their search in Jan/Feb!!!!
Talk about biting the hand that feeds ya!
Sending my way if they come to Nashville!
J. Phillip - "err on the side of possibility" BRILLIANT!!!!!!!! That's going in my next book!
Caren - me, too! I had a closing yesterday that began in August, maybe even July! This stuff takes time!
Robert - I don't doubt that statistic... but I will show houses to buyers today, even knowing they won't buy any of them. It's part of the process THEY need to go thru so that they will Know it When they See it...
That is just insane Jennifer! I had a buyer in my pipelines for two years and it was well worth it! I made the biggest commission ever but more importantly, they are very dear people to me!
I've been working on and off with out-of-state buyers since September. They, too, are June buyers...we've had time to explore various areas, see the different types of properties, and I've been able to get a real understanding of what they are looking for. They've checked out school districts, communities, etc. and they are ready to kick things into high gear!
Over the last few months we've built a rapport, we have a plan of action, and now we're ready to go. Frankly, having so much lead time has made it easier for me to go above and beyond and really help them to be prepared for their move. And what's the downside of knowing that there's likely to be a paycheck coming my way in June? None that I can see.
If someone is planning on purchasing a home in the near future than I would strongly suggest developing a relationship with this person.
I can't tell you how happy it makes me to hear all your like-comments. Sometimes I think I'm losing my mind when I hear some of the ridiculous philosophies from those in our industry...
I am working with clients that ended up taking a position overseas just before we were to start the final process of building their new dream home. They also just tacked on another year to their contract and will not be back until August 2010. You know what? I keep in touch with them.
I cannot believe that there are agents/brokers that are doing so well in this economy that they can afford to pass on any client.
Steve - me, neither. Even when I was crazy, nutty busy, I very rarely intentionally blew someone off! It's just really dumb business!
Jennifer any fool that wants to turn away business is welcome in my market. I pick up clients like that all the time. I am always farming and trying to keep the pipeline full. I have clients that I will work for over a year.
Jennifer, I will take any Rhode Island home buyers! Even if it's next June! I am not quitting my profession any time soon. Why wouldn't an Agent add them to their SOI?
It doesn't make much since to turn prospective buyers away. At least set them up with some searches and make a couple of phone calls...doesn't take a lot of time. I am in Central Florida and they can send them my way too!
My personal record is a buyer who contacted me 18 months in advance; we spent 18 months via email exchanging info, getting to know each other and I, getting to know her preferences. When she finally arrived in town, I had the perfect house for her and yep, she bought it. She has since referred to me a buyer who in turn referred another buyer who then referred another buyer, whom I now have under contract in this "bad" market. Funny how that works. So for my 18 months of "trouble," I ended up with over $1.5 million in sales. Oh, yeah, with no prospecting whatsoever.
It's a beautiful thing! I happen to like long courtships. It's the whirlwind romances that often leave you disappointed in the end.
I happen to like long courtships. It's the whirlwind romances that often leave you disappointed in the end.
Susan, you have such a way with words! And I couldn't agree more!
Wow - Susan - what a great analogy! A guy in my office got a floor call yesterday from a $1.4M buyer who wants to close by next week (cash). I"m really hoping for the best, but I'll believe it when I see it...
I really don't care when/if someone wants to buy. I need the experience and someone new in my SOI! Send 'em my way......gimme gimme. I'm green as grass(not even a month under my belt). I'll give them a tour around town or let them take me out for lunch, whatever! Stupid people make me laugh.
In my experience, buyers change their mind OFTEN and usually without warning. A buyer who says they'll be ready in June could change their mind and buy something in a completely different price range next week.
I love the phrase "Err on the side of Possibility" quoted above by J. Philip Real Estate LLC Briarcliff Manor, NY . Makes a lot of sense to me!
Jennifer-
Heck yes, I would work with a June buyer. First it gives you time to develop a strong relationship with the person and also gives you time to discover what they really want in a home. I have always been taught that the internet clients are the ones that are looking to buy further in the future and you have to develop the relationship. The agent would also have the advantage of being able to put themselves head and shoulders about the other agents by keeping in contact and sending emails about what is available.
Kim
Jennifer, I fully agree with you. If they refuse to work with them now, then they will not have a shot at working with them later. I don't know anyone that can afford to turn away business. These are probably the same Realtors that keep on crying how they are not selling anything. GEEEEEEEE I wonder why?????
Open to those June referrals here, too! Please click on the following link and pass the info on!
Jennifer,
This one always confuses me...Why on God's green earth would ANYONE send away a future buyer. Not only are they probably going to buy a house from you, but while they are a buyer in waiting they may just send a friend or two your way. Building raport is so important. Realtors just don't realize the amount of business they could be missing and to get it all they would have to do is spend a little time with a future buyer that found them. Unbelievable!
Yes it is unbelievable, but so true...maybe these agents don't believe they will be selling real estate come June, with an attitude like that they won't be.
I must be a lousy salesman because I would say 40% of my business has a 6 month lead time. Either I do a very preliminary CMA, or we look at houses for a long time before we find the right home for them, etc.
I don't spit in anyone's face, for crying out loud! How ridiculous.
Hi Jennifer, Who would turn any buyer away? June isn't even that far off. In my market it will typically take 6 months or so for a buyer to decide on the house they want anyway. I think it all comes down to customer service. I have clients I have been working with for over 3 yrs and I will still keep helping them until they find what they are looking for. I want my customers to find exactly the house they want and be happy with my service.
Jennifer I agree with you. This can be a lead of a lifetime with many referrals years to come. Plus June is a great time frame as you can ensure you would have someone to work with. chow.
Jennifer - the younger generation is well schooled in the happy-hour-buy-a-drink-and-get-lucky mentality. it was not so long ago that the same success would only follow dinner, a movie and a night cap......seems to me that the strongest relationships found common ground long before consumation was considered....so that being said............and i have checked the fine print.........time of purchase is an indicator of when a sale may occur and has nothing to do with the worthiness of the prospect.............the wham,bam, thank you man mentality rears it's ugly head in many areas.........
wow...........did i say that????????????
Jmac - y'know what? I knew it was you even without a signature!!! A little racey tonight, eh?
Heather - I'm pretty bad at this too... I think six months sounds about right!
Joshua & Kathy - it seems ridiculous, doesn't it? But if you read thru AR, you'll see proponents of this mentality all over the place. "Don't waste your time!" "Learn how to screen your clients!" blah blah blah...
June is a lovely month and with an early start and an exclusive buyer's contract - go for it.
Pipeline is a great thing!! I just stay in contact with them so they won't forget about the service I offer. I would never dismiss them because they weren't ready to purchase right away. That's silly.
I've been working with buyers since January and will probably not close anything with them until September. They have no idea how the system works and have done several thing s to temporarily foul their credit. I have the patience to deal with them and my realationship with them spawned a seconday transaction so everything will work out in the end....