Qualifying Buyers: What's Your Batting Average?

Written by Posted On Tuesday, 15 March 2005 16:00

What's your batting average with buyers? For every ten buyers you put in your car, how many actually buy? Are you batting 1000? How about 500? In baseball, batting 300 puts you in the big leagues. But in real estate, it means you may not be doing your job properly.

Real estate schools say that you should qualify a buyer before taking them out to look at homes. But frequently, agents think that only means qualifying them as to their financial status. While the ability to afford a home is certainly important, it isn't the most important factor by any means.

First and foremost, you must qualify your buyers as to their motivation. Why are they buying? Is this for a primary or secondary home? Are they scaling down or moving up? Is this going to be income-producing property? Knowing the reason for buying, is the first step in finding the property that will fit their needs.

But let's take a step back. Did asking those questions make you uncomfortable? Then "get over it," because it's your job to ask questions. Would you expect a doctor to be a mind-reader? Doesn't a doctor ask probing questions to decide on a course of action? How about an attorney? Does an attorney take a case without asking questions? Of course not.

You, as a Realtor, are no less a professional. You cannot do an effective job for your buyer without asking enough questions. Without asking the proper questions, you could easily spend hours or days showing properties that don't fit your buyer's needs. If you want to be a "tour guide," get a job with a tour company!

Most sincere buyers will appreciate that you are attempting to make their time more effective and efficient. That you care about what is important to them, that you want to find them the perfect home for their needs. The old adage applies here: "Customers don't care how much you know until they know how much you care."

So become Sherlock Holmes or Nancy Drew. Ask questions, and watch your batting average climb.

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