5 Reasons Why Your Deal Has Fallen Through (And How to Prevent It In The Future)

Written by Posted On Wednesday, 22 March 2017 06:13

There are no shortage of reasons why a real estate agent can lose an opportunity. Perhaps a potential buyer couldn’t secure the mortgage loan they needed to purchase the house. Maybe the seller had entirely unrealistic expectations that no agent would ever be able to fulfill. If you’re having a tough time closing a sale, or even getting potential buyers through the door, it can usually be attributed to one of a few common mistakes that even great agents can make on occasion.

 

1. You Passed On the Right Buyers

 

 

When you walk into a home, you can almost always tell who the typical buyer for that type of property will be. The only issue with assuming is that the typical buyer isn’t always the person who is the most eager to close a sale on the home. By failing to treat everyone as a serious potential buyer, you’re missing opportunities. Sure, it requires more work, but you won’t get a payday if that home doesn’t sell. Never overlook a potential buyer who doesn’t seem to fit the stereotype for the home you’re selling.

 

2. You Didn’t Teach Your Clients Enough

 

 

When you have a pushy client, you probably don’t want to risk ruffling their feathers. They want way more money than their home is worth. You know that their damaged roof is going to be a huge deal breaker for many potential buyers, but all they want to talk about is the kitchen they remodeled ten years ago.

Explain to your clients where the value of a home comes from, and show them the priorities of the modern buyer. Gently give them the information they need that will help them change their perspectives, rather than trying to make the impossible possible. You could be the best agent in the world, but no one can make miracles.

 

3. You Cut Corners with Staging

 

 

If you use what’s already in the house when you’re staging it for a viewing, you’re leaving tracers of the owners’ taste everywhere. Someone might really love that house, but if they hate the nautical décor in every room, they may not be able to look past it. Purchase some staging staples that are simple and neutral in taste, and carry them with you from house to house.

Rather than using the old trick of warming up some vanilla extract in the oven, go the extra mile and actually bake some cookies. Put the coffee pot on, and be accommodating. If you make the potential buyers comfortable, they’ll want to stick around. You’re giving them a chance to feel the warm vibes of the place, letting them feel at home.

 

4. You Wrote a Weak Ad

 

An ad that merely describes the general specifications of the home you’re listing reads more like technical instructions than an appealing ploy to lure people in. Nobody wants to move into a “house” with a “small garage” and “kitchen that needs work.” They want to move into a home with a quaint garage and a kitchen with loads of potential. The words you choose really matter – they’re painting a distinct picture, and they will ultimately serve as every potential buyer’s first impression. If you don’t get them excited to see the property, they won’t see the sense in driving all the way out there.

Make sure you include plenty of appealing photos with your ad. Make sure the home is clean and the paint job is new before you take those photos. Clean up the yard, and do some pre-staging before you list the home.

 

5. You Didn’t Follow Up

 

Forgetting to follow up is the worst possible thing you can do. Follow up with everyone who comes to see the property – even if the lead didn’t feel promising when you met with them. They may have been busy looking at lots of properties, and you want to speak with them before other realtors get the opportunity. The home hunt is stressful for a lot of buyers. If you’re willing to go the extra mile to make things easier, they’ll appreciate it.

The good news about all of these slip-ups is that they’re easy to fix. It never hurts to improve or recharge your strategy once in a while, so be proactive when you start to notice a deal isn’t working the way you want it to.

 

Rachel is a passionate blogger and a mother. She works for NYBizDb - an online resource of relevant business information.

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