How to Find Buyers in Real Estate
Have you Been in the Real Estate Business for Decades or Just a Few Years?
We are often asked by Realtors, “How to Find Buyers in Real Estate?” In this market, there’s a ton of buyers looking into buying a house. Some agents have plenty of potential buyers, and they don’t know it. Look at your database and check how many customers decided to work with another agent, this applies to online and offline leads. You might be losing too many customers. You may not have a first generating problem. It might be that your skills and habits as a real estate agent might need some polishing or upgrading. Here are some simple techniques we have implemented with our agents to help them increase the level of service to their buyers and sellers.
Be Fast & Diligent With New Buyers and Sellers
When trying to find the answer to, “How to Find Buyers in Real Estate?”, Whether it’s over the phone or in person, you have to be super fast when dealing with buyers, and sellers! I’m talking about answering your phone or returning the calls in seconds. If you are a real estate buyer’s agent, if the buyer’s request comes in, that means you are responding in seconds. Yes, I’m talking about some of you thinking, “if the buyer want to work with me they have to wait for me.” Nope, not in this day in age. There are thousands of great agents on sites like Zillow, Trulia, and realtor.com that offer a testimonial, reviews, and past house sales history. So it’s straightforward and easy to find a new agent. So communicate and respond fast, or your competition will!
Asking the Right Questions
Stop talking so much about yourself and start listening to the buyer’s needs or problem. They don’t want to hear how great you are. They want to know how you are going to solve their need to buy or sell a home. Show them you care by being interested in them and their family. Make your conversations and questions based just like a Doctor.
Prequalify your buyer
Ask the buyer the right questions so when you meet in person, you can provide better solutions for them instead of just winging it. Prequalifying your buyer prepares you better so when you meet you have a more productive appointment, and you can provide better solutions.
Meet The Buyer or Seller Face to Face
Meeting the buyer or seller in person is essential to building trust. Remember they just met you and they do not know you. You may be the most significant real estate agent in the world, but they don’t know that or cant tell over the phone. Some customers are faster to build trust than others. Others are a challenge. Many will not tell you everything you need to know over the phone since they don’t know who’s the person on the other side of the phone. What comes out of your mouth is going to determine why they want or do not want to work with you. Make it a point to meet them in person and talk about what you do know.
Follow Up Equals More Houses to Buy and Sell
Yes, unfortunately, every single person can’t or doesn’t plan on buying or selling a house with you. Following up is part of your job as a realtor. Harvard University did a study on telemarketing of over 100,000 calls over a three year period. What they found was that the average agents call the lead two times. The investigation revealed it takes 6-7 call attempts to make contact with a potential customer. So it seems we want instant gratification or we give up to soon. I’m sorry to say this, but if you are not following up consistently, you are missing out on many potential customers. If it were easy everyone would be successful in real estate sales, and we know that’s far from the truth. So make it a point to call at least 6-7 times before you give up.
Don’t be attached to the outcome or $$$
Real Estate can be a tough business, since most of us are on commissions only. That can lead to losing focus on our primary priority, which is putting the customer first. Since we do not get paid unless we sell a home, it can be easy to get attached to the outcome. Have you helped a customer and since it didn’t work out the way you wanted to, you start thinking it’s the customer’s fault or this business is not for you. Thinking and running your business that way can create more unnecessary stress in your career. This problem can be resolved by continually learning, generating new customers and following up daily. Stop counting your checks before you get them, better yet don’t spend them before you get them. Create a six-month reserve fund to reduce the stress in your career.
Implement these habits in your business, and you will see yourself working smarter not harder. You will be focusing on quality, not quantity. The stress level of your business will reduce, and your income will grow.
Ricardo Ponce, Real Estate Broker
Ricardo Ponce is managing partner and Broker at Ponce & Ponce Realty, a real estate sales company that helps new and experienced real estate sales professionals increase their sales and marketing skills to provide a higher level of service to families buying and selling homes. Creating business plans for professionals to reach more customers in the competitive real estate environment.
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