Working with Buyers (4)
What does the buyers home search process look like?
- Median number of weeks searched: 10
- Median number of homes seen: 10
How much time are you spending with your buyers? If you're spending more than 10 weeks with a buyer are they a real buyer or someone wasting your valuable time?
The length of the typical home search rose from eight weeks in 2007 to ten weeks in 2008. During the search for a home, buyers viewed a median of ten homes before making a purchase.
Among buyers who used a real estate sales representative / broker when searching for and purchasing a home, the median length of the total search was ten weeks. before contacting the sales representative / broker, these buyers typically searched for two weeks. The median length of the home search for first-time buyers is 12 weeks. First-time buyers also searched for a somewhat longer period before contacting an sales representative / broker.
- What kind of qualification process are you using before you work with a buyer?
- Did you make an appointment with a qualified Mortgage Broker?
- Do you feel like you are a professional tour guide or taxi driver?
- Do you have a buyer that you've shown over 30 homes and they haven't made a buying decision?
- Do you really know what their wants and needs are?
The goal is in better qualifying your buyers and provide showing/selling strategies so that your time is more productive.
Your next tip, I will discuss call conversion.
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