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top producing real estate agents work
with fewer buyers and more sellers. Agents work in markets where buyers have different needs and different personalities. Some of the main buyer personalities are as follows:
This buyer usually has time for research, is not afraid to talk to "For Sale by Owners," can be a good negotiator, wants a deal, and has little emotion in the purchase. This buyer usually has all the time in the world to find what he or she wants. These buyers can be your larger time investment. Most will cause you to go broke.
This buyer needs to live in your community, has considered renting a poor option, and has set a time limit by when she wants to be in a home. This may be considered as the golden buyer and should be considered as important as a seller.
This buyer will be ready to buy when he or she finds what he or she really wants. Sometimes the goal of this buyer is fuzzy, and it is difficult to constantly deliver products that meet their needs. Frequently their needs, or bulls-eye, are floating. These buyers will be a source of much frustration, causing you to hate the business when they end up buying something you never dreamed they would like.
This buyer, being technologically savvy, has access to the majority of
the listings in town, reads the paper, and goes to open houses. As the
saying goes, "He finds homes the old-fashioned way - he earns it!" This
buyer is frequently working with multiple real estate agents and is hard to
pin down to a delineated, benefit-packed Buyer Brokerage Agreement.
Your presentation has to be compelling to capture their loyalty and must
never be worked with outside of a contract.
This buyer looks at the home as a fun commodity, hangs on every word you say, is a joy to work with, and can usually make up their mind after being shown three different properties. They are just happy being fortunate enough to get a home. The details will take care of themselves. They are another golden opportunity.
This buyer is always ready to buy, has not yet, and maybe never will. The wonderful thing about real estate is that this buyer can have anyone or more of the above attributes; therefore, it is a priority for real estate agent to develop that certain sense of "smell." This process will allow you to differentiate the motivational patterns of buyers and work with those who have the most profitable attributes.
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