So, you've got yourself an email address and a web site. In comes an email, and suddenly this technology stuff seems all worthwhile. You've got a potential buyer - now what do you do?

Don't let the fact that technology delivered the buyer to you cloud the issue. You are at the same point you would be in the transaction if you had never heard of the Internet. You are now at the buyer qualification stage.

Just think of the Internet as a information delivery tool no different from a newspaper ad, a yard sign, or a referral. Your buyer has come to you via the Internet, so you will use the Internet to qualify your buyer. Your skill lies in how efficiently you are able to do this and how reliable your interpretation of the buyer's actions are. Your success using the Internet will depend on your development as a "virtual agent."

Let's presume that the email was generated by a consumer who was surfing Realtor.com, found one of your listings, and clicked on the link for more information. You need to have a systematic approach to handling this sort of inquiry, to save time and make sure that you are working with qualified buyers.

When I receive an inquiry of this sort, the first thing I do is send the people all the information I have on the listing. I also ask them to visit my web site and complete the 'Find A Home' form. Right away, this lets me give them the service they requested, and lets me know if they are serious buyers, or just curious lookers. Only about half of the buyers who request information from http://www.mls.ca go to my site and complete the form; this is already saving me time, because I don't invest time in buyers who don't want to work the way I want to work. If I haven't received an email-form from these people within 48 hours, I will re-send the original message to them to make sure they actually received it, and then I'll let them be if I don't hear from them again.

My total time invested is about 10 minutes. And the worst case scenario is that I've given the information requested in a professional manner, and offered further assistance. The best case scenario is I've driven another buyer to my site and have provided a huge service to them which I know no-one else in my area offers.

Let's suppose they do go to my site and complete the form. This form was put together to answer the same questions that I ask in a face-to-face meeting with someone, because I see no difference in on-line or off-line inquiries. I'll go through the qualifying questions that are on my form, with a brief explanation of why each one of the required fields is there.

• Direct email link - I put this feature at the top of the form to accommodate the people who do not want to give me information or don't like completing forms. Experience has shown that this is only about 7% of people, and over 75% of these people proceed to complete the form once we have established some rapport.
• Email address - this is critical because they may complete the form while at work, but want the rest of the process to be sent through their home email address.
• Mailing Address - tells me not only if they are local (possibility of listing and buyer client), but also if they are looking in a similar sort of range - a test of their ability to buy the sort of house they are inquiring on. Also, if they are relocating, then they are a totally different sort of prospect, with very different needs and homebuying methodology.
• Phone Number - just in case their email address is incorrect.
• Primary Browser / Word Processor - tells me about their level of technological comfort, what format they need to receive any attachments in, etc.
• I'm Looking In - I receive many requests for information on homes that are far outside of my service area. This allows me to get a referral from these requests. Also, the answer to this question, when combined with the price range they are looking in, tells me if they are familiar with the prices in our area. The rural areas in my market are quite pricey - $200,000 is starting price for a 'tired' bungalow on 1 acre - and I get many requests for a 2-story, 4 bedroom home on 3 acres for $140,000.
• I'd Like To Be Moved By - basic time-frame motivation - gives me the opportunity to highlight my expertise by talking about the type of market we are experiencing. Also lets me know how much time to invest now, compared to when their move-date gets closer.
• Do You Have An Agent - First of all, I want to know if they are under contract with a buyer agent, so I don't interfere with a contract. Secondly, I want to know how much time to invest.
• My Current Situation Is - Let's me know if they might have a lease, or if an offer would have to be conditional on sale of their current home. Also, if they have a home, I can then contact a Realtor I know in their area, to find out about their current home's value, predicted time on market, etc.
• My Downpayment is - Gives me a chance to educate them on the typical requirements in my area. I've had many buyers move from areas where a typical downpayment is $500; here, it is $5,000 to $10,000 on a $180,000 house. This can save all kinds of grief should we get to an offer.
• Price Range - We all know what this information is used for.
• Financially Speaking - This gives me the opportunity to send people to my mortgage broker, and help them get a better rate. The importance of this for me is that I like to keep control of as much of the process as possible, by having my clients deal with the people I count on in my area.
• Type / Style / Bedrooms / Bathrooms / Garage - A no-brainer
• Want Information By - If this time-frame ties in with the time-frame given for when they want to be moved by, then I tend to take the request more seriously than if they were to say they need the information today, but are not moving for 18 months. My autoresponder message tells them when to expect the information from me.

The section on how they found my site, etc. is purely for my use in making my site better, and telling me where to focus my marketing efforts with my web site.

Once I receive this form by email, I will put together some listings for them, and post them to a private web page. If there are no properties available that meet their criteria, I can suggest possible alternatives, based on the information they've given me. The key is to keep the dialogue going by asking lots of questions, just like you would in a face-to-face situation. It is important to remember that while people are surfing the net and looking at properties out of curiosity, if they take the time to fill in a form like mine, chances are they are buyers, not just surfers passing through. I always point them to the 'For Buyers' section of my web site, so that they gain an insight into the way I work.

Another point to remember is that, just like off-line, if the people don't respond after a couple of emails from you, then chances are they were just curious. Don't bug them, but do offer them the opportunity to subscribe to your email newsletter, so you stay in the forefront of their homebuying conscience for when they are ready to buy or sell.

As with any other way of doing real estate, this 'net business is a numbers game; the more contacts you get, the choosier you can be about who you work with. I always check the email header of messages that don't come from my site, to see who else the people have sent their request to. I will not work with anyone who won't sign an exclusive buyer contract with me (only 1 in 100 won't sign, and the contract is in the 'Legally Speaking' section of my site). I do get the majority of my business from the 'net, and do refer out a number of the inquiries I get to local Realtors. All email that is sent to my information mailbox is automatically forwarded to my pager, so I can qualify those people right away, and not lose the buyer who is going to be in town tonight wanting to look at homes (yes, it happens quite regularly).

Buyers are buyers, but because of the ease of communication and information delivery afforded by the Internet, I am finding more and more everyday that I like the on-line ones best.

Related Article: How to Give a Great Homebuying Seminar

Published: April 27, 1999

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