Finding The Right Buyer
Agents are constantly in contact with the largest number of potential buyers possible to generate a steady flow of prospects specifically interested in your property. Typically, 60% of all buyers come through these referrals and ongoing marketing, and 20% come from “for sale” yard signs and general company reputation, and less than 20% from promotions and advertising. These percents vary by area and company. Less than 10% of sales to come from classified advertising.
By far the largest number of buyers come from referrals sent by satisfied customers, corporate contacts, friends, acquaintances, relocation networks, the Multiple Listing Service, and cooperating seller’s agents or buyer agents. Agents and companies continually work to maintain a “pool” of buyers through an extensive network of contacts and sources. That’s why agents and real estate companies frequently have buyers on hand, just waiting for the right house to come on the market. Make sure your agent is Full-Time with total commitment to the Real Estate Industry.
Other buyers come from open-house signs or call in after seeing the phone number on the yard sign. These “sign calls”often produce excellent prospects for that house because the callers have already shown an interest in the neighborhood by driving through. Make sure your agent has a system in place for qualified feedback, and follow-up phone calls.
Why and how does my agent “pre-qualify” buyers?
Since it could be a waste of your time to negotiate with an interested buyer who could not afford to buy your house, your agent is trained to politely ask buyers the right questions about their finances – a far easier task for an agent than for a homeowner. Make sure your agent can qualify Buyers, and is knowledgeable about various Loan Programs. This could mean the difference between closing or not!
Factors that determine a Buyer’s qualifying situation include:
• Income & Employment
•Maximum affordable monthly payments
•The existence – or not – of another house to sell
•The time period during which the buyer must reach settlement, and the buyer’s urgency to buy
•Other houses the buyer may be interested in and the primary reason for buying
The sum of this information makes it possible for you to negotiate effectively, should the buyer make an offer.