Find Me Some Buyers...

We’ve heard this very comment countless times in the last 60 days, perhaps more notably in the Western United States, as the market continues to shift. The average days-on-market is longer. There are more houses on the market. And, the tables have turned in favor of the “all mighty buyer.” The market has shifted, and this inevitably means for some, on its way back to ‘normal.’


As Title Sales Professionals, what can we really do as real estate ‘Business Consultants’? Do Realtors actually expect us to pull buyers out of our pockets and hand them over? The answer is undoubtedly, ‘no’.


Remember, in the last 60 days, Average Joe Real Estate Agent has communicated more than ever with his/her clients (on the listing side) explaining why their house hasn’t yet sold.
This is commonly due to two things:

1. A shift in market inventory, creating more cost pressure - a.k.a. "Improperly Priced Home,"


2. High Expectations set by their clients from past market performance, combined with lack of evidence - a.k.a. "Comps are Reinforcing High Prices."

Feels like all buyers have fallen off the face of the earth. In ANY given market, there are plenty of buyers for properly priced homes.

We are most likely using the same marketing techniques that have worked for the last 5 years. And so are our Realtor clients. Today is a different market, and sometimes a different market requires us to change some of the ways we look at our business and how we do things. (Please note: I said, some, not all).

SO, Where ARE the Buyers? As a valued business partner in your client’s success, here are a few key topics of discussion with around finding more buyers…How are you….

How are you...Communicating with Your Clients?

• Pricing in general - methods thereof
• Communication around current listings and price adjustments, if needed
• Expectation setting with future listing clients

How are you . . .Marketing the Property to Buyers?

• Increasing the sales price of a home – lot’s of articles attached
  What is the profile of the buyer?
• Where are you looking for buyers (Is it strategic? Is there a plan?)
• Positioning the property in the market to be more appealing to buyers

How are you . . .Pricing a Listing?

• Methods of pricing (comps, other agents, brokers, etc..)
• Research (Are there other homes out there that fit the profile in the same neighborhood?)

Where can you . . .Find more Buyers? Ask yourself “Who needs to buy Right Now?”

• People that are relocating. Get a contact list of all HR departments of large companies in your territory.
• People with kids entering high school - school district lock down.
• People with kids entering college - downsizing.
• People with 3/5/7/10 year ARMs
• Investors with 4+ properties - not the onsie/twosie-types

I hate to say this one, but here it goes…..

• People that are dividing assets through a divorce or estate. Marketing to divorce attorneys for referrals.

Five articles I found in 5 minutes researching “How to increase the sales price of a home”, and “Why not to lower it (if it’s a fair price)?”, and “What the percentage return you can get if you decide to spend the money to make improvements.”

http://www.bankrate.com/brm/news/real-estate/BuyerGuide2004/increase-resale1.asp

http://www.servicemagic.com/article.show.Checklist-Increase-the-Potential-Sale-Price-of-Your-Home.10494.html

http://www.reiclub.com/articles/never-reduce-sales-price

http://rs6.net/tn.jsp?t=fa9mpwbab.0.0.7qs4zobab.0&p=http%3A%2F%2Fmoneycentral.msn.com%2Fcontent%2FBanking%2FHomebuyingguide%2FP84657.asphttp://rs6.net/tn.jsp?t=fa9mpwbab.0.0.7qs4zobab.0&p=http%3A%2F%2Flala.essortment.com%2Fincreasehome_rwli.htm

We are not expected to have all the answers – the key herein lies in asking your clients the right questions. All of the possible, unique, individual, customized solutions to this ‘Problem of Buyers’ are already in your clients’ heads. YOU just have to pick their brain to help them get it. Asking the right questions, armed with the right information from the articles above will help you do just that.

Remember, your overarching goal is to help your clients build their business in a way they see as meaningful. In this next 60 days, try focusing on what they are telling YOU. It is NOT ‘not enough buyers’, it is in empowering your clients and prospects knowing where to find them.

Try this out to get some appointments:

"My goal for all my clients this quarter is to help them position themselves in this market to capture a greater share of the buyers that are out there. Is that worth sitting down for 30 mintues to talk about and see if there is some way I can add value to your business?"

Good luck out there, I know it's tough...