Residential Real EstateMake Selling To Buyers Easier
You may not realize how much selling you really do when you work with a buyer. What you don"t want to miss are opportunities to sell by not conveying the knowledge and information your buyer needs to make a well-reasoned decision that he or she will be happy about.
Here are some ways you can help your buyer...and yourself:
Expect no home to be perfect.
Explain to your buyer before you start showing homes that all homes, even brand new ones, need some kind of work. There are no maintenance-free homes that don"t show wear or tear. There are no homes that perfectly suit a buyer without some little bit of customization.
Buyers can expect move-in ready homes that are surface-free of problems to sell for a premium, and for not-so-well-maintained or improved homes to sell for less.
Pictures can help you make your point. Show your buyers a few before-and-after photos of homes you"ve sold or remodeled so that they can see that change is normal, remodeling isn"t that scary, and that a few changes can make a huge difference in your buyer"s enjoyment of the home. Show various types of updating: paint and decor only, minor remodeling, and major gutting and rebuilding, so buyers can see the dramatic differences a little or a lot of work can make on properties. Your buyers will automatically view homes with a more open mind, and ability to make a decision.
Don"t allow buyers to waste your time or theirs with unrealistic expectations of perfection from any home.
Explain price, condition and location are the right criteria to use to buy a home.
Buying a home can be very emotional, and it is easy to fall in love with any home. The right home is sometimes a total surprise to your buyer who thought she wanted one feature and was sold on a home by another feature. The right home can be located in a different neighborhood than the buyer thinks he wants, yet be priced right and in perfect condition. Or it can need a lot of work, but it"s located right where the buyer wants to be. Getting the right home at the right price, the right condition, and the right location often requires some compromise on one criteria or another. This is normal and to be expected.
Know the inventory personally.
A lot of confusion, disappointment, wasted time, and other negatives can easily be eliminated through previewing.
Virtual tours are becoming a common way for agents to skip MLS tours and show their buyers an advance peek at homes, but like all shortcuts, that can work in your favor only part of the time. Nothing compares to showing a home you have already seen yourself, especially when you can compare it to other homes in the neighborhood that you have also personally seen.
With personal experience, you can answer your buyer"s questions with authority because you have seen that the house down the street has an all-new stainless and granite kitchen, while the house you are showing is priced much lower because the kitchen hasn"t been remodeled. You will actually be ahead of your competition if you don"t skip your weekly MLS tour, and you are willing to go to MLS tours in other areas where you might want to show buyers homes.
Make copious notes and keep feature sheets on all houses you view and file them by address so that you can easily compare notes on homes later. Don"t throw out your notes on homes that sell, as you may find those homes may come back on the market again in a short period of time. You never know when you will be called upon to show a home that you may have a lot of information about. Your buyers will be impressed.
Don"t steer your buyer from homes that need work
Buyers have all kinds of reasons for buying a home, even one that needs so much work it makes you want to hold your nose. All communities need the revitalization that buyers bring to older homes and neighborhoods, keeping cities and towns vibrant instead of stagnant.
Updates and maintenance show pride, and pride helps homes and neighborhoods retain and gain value. Improvements help homeowners gain equity quickly, which is good for the community, economy and for you when it comes to resell the home.
Keep your preferences to yourself.
It"s easy to become controlling when you show homes to buyers and push your personal tastes onto your buyer without meaning to. You may not like certain types of housing or neighborhoods because of your own preferences, but other kinds of homes and neighborhoods exist for a purpose, including opportunity.
Condominiums, for example, used to be considered high-risk investments, mainly because the real estate industry kept telling buyers they were high risk. Condominium housing lost money in some areas, and only broke even for homeowners in other areas, becoming a self-fulfilling prophecy of a poor investment. But lately, buyers have stepped over the real estate industry"s prejudice about condominiums and bought condominiums in such record numbers, that condos as a housing category have shown greater appreciation nationwide than single-family homes.
What the industry needs to recognize is the diversity in homebuyers where singles, nontraditional couples, empty nesters, and seniors are influencing the design of housing. More types of homes will be created, and it will be the responsibility of the real estate community to allow buyers to set the market, rather than forcing single-family homes on buyers who don"t want them. Every buyer has a preference, and that preference is about lifestyle, and that"s where real estate professionals should leave it.
Become the one who knows the latest.
Often agents operate on old news because they simply don"t take time to do the research necessary to remain current. Visit local schools and businesses to find out the latest accomplishments. Watch the newspaper for leasing space to see if employers are moving people in or out of the neighborhood you"re servicing. Talk to the local chamber of commerce for news about company relocations and developments and how business and city services will impact your farming area. You"ll be more up-to-date than your competitors and your buyers will be impressed with the extent of your knowledge.
Be the leader in your area
If you want to be an agent who is respected by your buyers and your peers, then be an agent who leads instead of follows.
You may see your fellow Realtors promoting one neighborhood while you see the charm and value in another, show the neighborhood you like with enthusiasm. Set the pace by pointing out to buyers and investors what you see that"s positive, and don"t be discouraged by other agents who won"t show homes beyond X street or Y landmark.
Be the one to tell city planners what you need to promote neighborhoods in your area. If your area has potholes in the street or needs more streetlamps, get in touch with your city council representative.
Sponsor a Saturday clean-up of the local park. Write a real estate advice column for the local neighborhood paper. Start a Yahoo! Group for your neighborhood and put local events, news and contacts as resources, so buyers will have a place to meet people.
Get involved.