How do you handle those who have viewed more than 50 properties, still not making decition?
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Requalify them properly! Find out what the hold up is, ask is they ARE GOING TO BUY if they found the place TODAY?
I would send them shopping on their own via OPEN HOUSES and let you know that you can help them negotiate the best deal for the house when they find one suitable for them. Time is money there are only 50 available weekend a year to utilize your time with.
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There will always be some buyers how will be looking for the most perfect home, which in reality does not even exist. Communicating with the clients & getting the feedback and then doing the adjustments based on it is the key. Just remember that anyone who has gone through 50 properties with you will also be pretty frusturated with you by now. I am sure by now you will have a good idea of what they are looking for so instead of taking them to see every new listing out there just do your homework and show them only the ones which in your opinion are the closest matches. Hopefully the 51st house will be the ONE! Good Luck!!
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Tough call. Sit down at the computer & look over available properties. Have them pick them out the show them. If nothing, remind them their pre-approval may run out (sort of hard to use this leverage in this awesome mortgage rate era) & may cost more to refinance. I Hope they are under a buyerss agency with you as would not be a happy ending with them buying a FSBO or walking into some other REALTORS® open house. If still nothing, refer them to an eager college. The referral should help at least pay for your gas & coffee purchases. I wish you success!
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Each case is different, but clearly their motivation to move has not been there. The question is, has anything change lately? If nothing has change, then I would invite them to use another Realtor. Just be sure you haven't done all the work and they are now ready to purchase.
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Well, sometimes it takes time, but in most cases finally it pays off. Maybe, knowing your clients criteria, you should narrow your searches and showings only to the houses meeting their criteria.
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It is said that Edison made the electric bulb after 500 failed attempts but what Watson himself said is interesting.
" I did not fail 500 times to make the bulb rather I succeeded knowing 500 ways that will not make the bulb"
So you now know at least 50 things that probably may not satisfy a customer. It is a good addition to your knowledge. -
Hopefully it will pay off in the end; when they finally find the home of their dreams. Service them in the mean time to the best of your ability, they will refer you to their friends and family who may beable to make a decision a lot quicker!
Enjoy the journey! -
I was that buyer when I bought my first home. Then I bought because I felt like the pressure from the agent who kept showing me houses. I suffered buyers remorse for the next 15 years. There is something holding them back and you have to find out what it is. Are they only looking at homes because you keep sending them listings to look at or are they asking you to show them? Somethings up for sure. Are you working with their mortgage person? often the mortgage broker develops a more intimate relationship with folks and my have an idea what is going on. I do feel for you investment of time. It's really not fair.
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Sometimes you have to fire a customer, for the overall good of your other customers.
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Do you have notes of previous showings?…do you have a list of their needs/wants/price range?….are you showing them properties within those criteria’s?….and you will have the answer!
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1/have they signed buyer agency or sold their house or listed their house with you? if not, they are in need of a hobby but find hanging out with you cheaper and more fun than bowling
2/what guidance have you give them in selecting the style/ area/size/price/school district/ etc of house?
If you establish they’re real buyers, i would say you are not offering enough guidance and expertise to help them to make that decision.
Set up a meeting and start from scratch; this is what you looked at, you didn’t like this because of the fact that it’s a one car garage, so we are not going to look at one car garages again etc,
Deduce, deduce, until you come down to the house.
Good luck, no fret, we've all been there. -
re-qualify- back to the drawing board. Come up with the perfect property that meets their qualifications and ask them if you find that perfect property will they buy today ??? If not what would hold them back. After that make a judgement call if you want to continue working with them or not. Your time is valuable and no one respects you for being a sucker.
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After all that time, it's your right to have an open and honest discussion with them. If, at the end of that conversation, you have not figured out what's holding them back, I would consider referring them to someone else. 50 homes is confusing, and I suspect after all than the clients don't even know what they really need or want. Good luck!
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Sometimes buyers get too familiar with their Realtor. Their relationship becomes more of a 'Friendship' than a business relationship. I recommend referring these kinds of buyers to another Realtor. This serves to re-establish the relationship as one of business. After 50 houses, the buyers are certainly market wise. After 50 viewings, it's time to make a decision.
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Some times you have to spend a little extra time with some customers but remember if you are not to busy , or you are new to the business might as well show them homes , as with any business experience is every thing so might as well with all the showings you gain some info about the type of properties in the area , and you never know if they end up buying one of the homes, you can only accommodate these type of people if you have extra time on your hands.
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"Sometimes buyers get too familiar with their Realtor" Bruce Dougall
this is a problem I currently have, you've given me something to think about. -
I rarely let this happen but it did happen with a client of mine last year though. Because I knew they were serious and that we just hadnt found the right place yet, I kept working with them. We did in the end find something. But all along the process I would re-qualify and try to find out why they wouldn't put in an offer that day.
You don't say why they haven't bought, do they have a good reason (no inventory) or do they need to be educated more on what they can afford or can expect to find in that area (does their budget meet their expactations)?
I am never pushy, it just doesn't work, but I do always ask for the sale. Eg "did you see anything today you want to make an offer on" if not "why not?" get them to be specific. Use their answers to make sure you only show them places that truly qualify for their needs.
Also, who is picking what they are seeing, you or them? I have often had clients insist they want to see a property I know won't suit their needs, I will show it, but always make sure I book a showing for a property I want them to see on the same showing, they soon realize the ones I am finding are much closer to what they are looking for and allow me to do the looking.
The key is questioning, listening and delivering to their needs. If you do all that and they still don't buy, refer them to another agent, at least you will still get something for your work.
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I think it may be a question of not separating the needs from the wants. I would have a sit down and redefine the priorities of your client. I am surprised a few of you would rather fire the client than help them focus on their priorities.
If you want to fire a client, refer them to me. -
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Wow 50 homes viewed ,how many homes a year could you sell if you shoed each buyer even 40 homes ?
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Either you are not showing them the right houses or they are not sure exactly what they want (alternatively they may just enjoy your company and want to look at homes).
Requalify them, give them good advice and help them determine what the right house is, then find it and sell it to them.
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