6 Strategies to Get Your Buyer’s Bid Noticed
Desirable houses are selling quickly right now, which can put buyers in a frustrating situation as they watch house after house go to someone else. As an agent, it’s your job to guide buyers through these difficulties and frustrations. Here are six tips to up your game and help your clients up theirs.
What They Can Do:
1. Get Their Finances in Order.
Before looking seriously at any physical homes, tell your buyers to get their financial house in order. That means getting pre-approved for a loan, but also thinking hard about mortgage payments, understanding closing expenses, and checking to see if there are any special financial requirements. If their down payment is a gift from a family member, for example, most loan offices and states require extra documentation.
2. Make It Clear They Love a House.
If your buyers fall in love with a place, recommend they show that special connection to the seller. Tell them to write a letter explaining exactly what they love about the house and how it will help them and their family. This also helps buyers seriously think through why they love a place and understand if they’re just infatuated or if they’ve really found the home of their dreams.
3. Rank Their Priorities.
In a competitive market, buyers are unfortunately not going to get everything they want in a home. Help your clients sort out their needs from their wants by talking through their first list of requirements with them. Ask them to rank the requirements both together and separately, to see if their opinions line up. If you notice big disagreements, try to get your clients to resolve them before house-hunting begins in earnest. You do not want conflicted priorities inside a family to derail a deal you have worked hard on.
What You Can Do:
4. Don’t Wait for the Open House.
Advise your clients to see as many houses as possible on the weekend, and do your homework looking for pocket listings or ones that have yet to have an open house. Housing information moves quickly online, and waiting for public showings often means getting left behind.
5. Have Appraisers You Work With Regularly Line Up an Appraisal Before Making Your Offer.
This shows a seller how serious you and your clients are about their home. It also increases the practicality and effectiveness of your offer. You are showing the seller not only that your clients are willing to purchase the house, but also that they have already put the next steps in motion.
6. Think Creatively About Your Client’s Requirements.
Think about your clients’ requirements as puzzle pieces you can turn different ways to create different solutions. Look for the fixer-upper houses in the good neighborhoods or the gorgeous homes located a little out of their area. Of course, not every client will be open to your creative answers, but this outside-the-box thinking can often create the best solution in a competitive market.
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