Of late I have heard many agents talking about their buyers or how many buyers they have. First of all, no one owns any buyers. Buyers are free to choose to buy from any agent. Agents may think they have buyers but if they leave the office after or showing appointment that didn’t result in a contract being written, they are ‘on the loose’.
Despite our best efforts to instruct them otherwise, they will call on FSBO’s, call another agent off a sign, (especially if they can’t get a hold of you) or they might drive by an OPEN HOUSE and decide to go in. What harm could that do? This story repeats itself almost daily. I hear lots of whining about disloyal customers or ‘buyers are liars’.
Even car salesmen understand that you rarely get more than on shot at a customer. That’s why they press so hard to sell you something when they have the chance. The point is, most people who are serious buyers aren’t going to last long in this market of abundant inventory, good values, and low interest rates.
The trick is to separate the prospects from the suspects and work with the prospects. This is an important skill to acquire and sometimes the agent needs to know how to downgrade a prospect to a suspect or to the lowest bottom feeder and time waster, ‘the lookyloo’.
I might add that sometimes someone that makes a big deal out of being a cash buyer may have to be downgraded. I have found them to be really difficult.
Allen Stout, Broker