Why aren’t Buyer’s Loyal anymore?
Many of the older generation agents, 55 and above, I speak with all say, “Buyers aren’t loyal anymore”. Well what happened? Did someone start a national campaign against REALTORS that de-values our services to Buyers? No, of course not.
They feel they’ve done all the work. Apps give buyers access to information at any location from multiple devices, and many buyers enjoy driving around past homes they’ve viewed online. NAR statistics show over 85% of buyers begin their search online, drive past the property, then contact an agent to schedule an appointment to view the property. Realtor.com, Truila, and Zillow are widely used and available on all mobile platforms.
Most Buyers don’t understand how we are compensated. As REALTORS, we assume everyone knows the answer to this question. However, uneducated Buyers now prefer to negotiate directly with the Seller’s Agent and expect them to reduce the commission, because only 1 REALTOR is a party to the transaction. Buyers need full representation, but they need to believe that we add value to the transaction, even though our fees are compensated from the Seller’s proceeds.
Finally, Buyers feel we don’t understand what they are looking for in a home. If you don’t have an open line of communication with your client, then you’ll never have a clear understanding of their wants, needs, and lifestyle. To truly understand your client, you need to know how they fell about moving into a new home, what they will do if they do not find a home in their desired time frame. These and other great questions are found on my Buyer’s Questionnaire.
A great friend of mine, Greg Herder, helped me create a Buyer’s Questionnaire several years ago. I have found over the years, that people who fill out the questionnaire, end up buying homes they love living in. If you helped a Buyer purchase a home that they love living in, what would that do for your business?