13 Types of Home Buyers to Avoid

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As a Realtor, one may like to think s/he can work with anyone—or at least will make an effort to. However, some things are more easily said than done. In fact, there are a few types of buyers that you’d probably like to avoid altogether than try to do business with. Therefore, we’ve compiled a list of 13 types of home buyers to avoid and the early warning signs you may have a problem with a particular client. Hopefully you’ll be able to spot the signs early on and get out of the deal ASAP! After all, some hassles are just not worth your valuable time.

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Look out for these buyers!

1. The Flaky Buyer

Sellers spend a lot of time preparing their homes for showings, and flaky, inconsiderate buyers fail to realize this. Avoid buyers who make a habit of missing appointments without calling you ahead of time to explain their absence. Missed appointments could mean a missed opportunity for the perfect home.

2. The Whiny Buyer

This is the type of buyer that complains about the littlest of things. Whether it be the choice of paint color or style of the newly-installed carpet, this person will add small, easy, and cosmetic fixes to their laundry list of problems with the property.

3. The Realtor-Hopper Buyer

I couldn’t really come up with a snazzy name for this one, but this is the type of buyer that’s already worked with multiple agents. They give reasons why each Realtor didn’t work out for them, and may up telling a similar story to the agent they work with after you. Ultimately, this type of buyer will just end up wasting your time.

4. The Questionable Buyer

This buyer may not have all of his/her finances in order. If this buyer generates a shaky response from the bank—who reaches an agreement but with odd contingencies—the transaction probably isn’t a sure thing. After all, why are they house hunting if they’re not 100 percent financially capable of purchasing a home?

5. The Distrustful Buyer

The distrustful buyer isn’t quite sure about any part of the deal. S/he questions the seller’s choice of contractor, the home inspection, etc, and insists yet another expert come and give his or her own two cents. These inspections are often done at the seller’s expense—making the seller wary of doing business with your buyer client from the start.

6. The Know-It-All Buyer

This type of buyer isn’t quite sure you have his or her best interest at heart. They think they know better than you (it’s not like you do this for a living!) and will therefore insist on doing things their way instead of taking your expert advice.

7. The Sleep-Over Buyer

This is the buyer that insists on sleeping over in the property prior to closing the transaction. This can be an odd and uncomfortable request, especially if the sellers are still living in the home. Although you may be able to negotiate the buyer simply spend a few hours in the property at night instead of sleeping over, some buyers will simply not budge on this.

8. The Rude Buyer

This buyer doesn’t act like a guest in homes s/he’s viewing, treating the property as if it’s already his/hers with complete disregard for the people that are still living there. These are buyers that bring rowdy children to showings, flop down on the bed, leave the bathroom a mess, etc.

9. The Indecisive Buyer

This type of buyer can be one of the most frustrating of them all. From the number of bedrooms and bathrooms to the type of lot, this buyer may demonstrate that making concrete decisions is impossible for some. The indecisive buyer may require you to wear multiple hats during the home buying process.

10. The Multiple Visits Buyer

This buyer insists on seeing the home multiple times before closing, demanding immediate access after committing to the deal. This is the buyer who wants to bring friends, family members, decorators and architects in right away, before the transaction has even closed.

11. The Blamer Buyer

This buyer consistently denies responsibility, blaming you for anything that doesn’t go perfectly during the home buying process. If you do try to make it work with this type of buyer, make sure to outline what are considered realistic expectations for a real estate transaction.

12. The Rushed Buyer

The rushed buyer demands closing and moving dates. The buyer who rushes the closing date is usually oblivious to the emotional attachment the sellers may have to the house, not letting them move out and on when they’re ready.

13. The Negotiating Buyer

This buyer tries to negotiate after the deal is already closed. It’s imperative to remind these clients that the final walk through is not the time to renegotiate. Even if the market has changed, the agreed-upon price is the agreed-upon price. Period.

 

Working with these 12 types of buyers is far from ideal, but sometimes necessary. Therefore, be prepared: involve a contract during multiple steps of the real estate transaction and act as a mediator if necessary. Unfortunately, with some clients, you’ll just be happy that the deal is over and you’re finally free of them. It’s likely you won’t be getting any referrals from these clients, but at least you’ll be equipped with the experience of managing, and successfully closing a deal with, difficult clients.

 

Did we miss any types of home buyer to avoid? Please tell us about your less-than-desirable real estate buyer clients in the comments!

 

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Remind Your Clients That You’re There for Them

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h2janderson 01 Remind Your Clients That Youre There for Them

Jim Anderson of Realty Executives based in Fort Collins, Colorado recently reached out to his customer service representative to share his latest success story with us. 

After signing up with HouseHunt in May of this year, Jim has had about a dozen closings, including one that came from a HouseHunt lead. Our effective training classes and webinars have played a big role as to why he has experienced so much success this far into the year.

HouseHunt’s Customer Service department and Sales team have always stressed the importance of following up with a lead right away, and it is this bit of valuable advice that Jim has taken quite seriously. 

The Funnel Infographic1 69x250 Remind Your Clients That Youre There for ThemOnce he receives a lead, Jim immediately contacts his future client by letting him/her know that he is available to assist them whenever they are ready. He is never pushy, as he understands that so long as he keeps in constant contact with his leads, they in turn will come to him when they’re ready to take the next step. 

Jim currently owns the Fort Collins, CO and Wellington, CO territories where he specializes in various types of real estate. His most recent closing was a single-family residence that closed at $475,000. 

Like many of our member agents, Jim truly loves his job. When asked about any closings that stood out to him, he said that he simply enjoys helping families move into their first home and watching their children’s eyes light up as they realize that this will be the place that their family will call “home” for a good part of their lives. Helping others achieve the ultimate goal of homeownership is something that Jim has realized he was always meant to do. 

Jim, everyone here at HouseHunt is honored that you have allowed us to share in your passion of helping others achieve the American Dream of homeownership. Congratulations on your success! 

Click to Enlarge

 

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3 Free Infographic Templates for Your Local Market Reports

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Here at HouseHunt, we believe in the power of infographics. They are a fun way to convey information, and can easily be shared online via social media. We’ve made infographics for otherwise-boring information like how to prepare for a listing interview, to silly topics like #RealtorProblems.

Free Infographic Templates 3 Free Infographic Templates for Your Local Market Reports

One thing every real estate professional needs is market reports. This slew of data isn’t normally very interesting for your customers. But with the help of some fun graphics, market reports aren’t so bad.

Below are three free infographic templates for you to use in your next housing market report. These are in PowerPoint format, so you can easily plug in your own information and save your newly created graphic. Mix and match elements you like from the three formats. Each one has it’s own unique purpose, but we hope they all spark some creativity and empower you to grow your business through viral internet marketing.

Local Report

This template is designed for you basic mover; someone who is moving to a new house but staying local. This is a bit more seller oriented, as they will have to sell their home before they can move forward with their next one. Click here to download.

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Local Template

 

Out-of-Towner Report

This format is oriented for someone who is moving to the area for the first time to buy a house. It is more buyer-focused than the previous format. More importantly, it features US Census data about the community you live in. Highlighting the area is a great way to help your buyers feel at home before they even pick a home! Click here to download.

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Out-Of-Towner Template

Professional Report

Can’t decide between the two formats listed above? Play it safe with a general market report that allows you to touch on all of the most important data without excluding any of your potential audience. Click here to download.

Professional Report 151x250 3 Free Infographic Templates for Your Local Market Reports

Professional Template


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Top 10 Reasons a Home Won’t Sell

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Having a listing that won’t sell is an incredibly frustrating situation. Why can’t you get that home sold? Here are the top 10 reasons a home won’t sell and what you can do to remedy the situation.

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1. The House is Overpriced

This is usually the number one reason a home won’t sell. An overpriced home just isn’t a practical investment for most home buyers. As should’ve been revealed in the comparative market analysis (CMA), what other, comparable homes have recently sold for should give you a good estimation of a reasonable selling price for the listing in question.

If the seller is standing in the way or insists on a higher selling price due to his/her emotional attachment to the home, try to help him/her be more objective regarding the true value of the property.

2. The House was Recently Purchased

According to a recent report by Redfin, homes that were purchased or refinanced in the past seven years aren’t likely to sell in the current market. This is because buyers are more likely to buy a home that has been occupied by the current owner for more than seven years.

3. It’s a Buyer’s Market

If the current market is a buyer’s market, meaning there are a lot of homes on the market to choose from, then the home may not be selling due to tough competition. If it’s a possibility, you may decide to take the home off the market and wait for inventory to drop.

4. The House is Overly Personalized

You want buyers to imagine themselves living in the home, so make sure your clients remove or store their personal items. It’s rare that a buyer will have the same taste as the seller, so making the house as neutral as possible is your best bet. Making the house less cluttered and more tidy will also make buyers feel more comfortable in the home.

5. The Seller is Inflexible

If you are having difficulty with your clients, it may be time to sit them down for a chat. Some sellers are inflexible with showing times and don’t make their homes as accessible and available as possible. With these clients, you need to reinforce that their lack of flexibility will result in their home spending a longer time on the market, and the longer a home is on the market, the lower the selling price will be. Furthermore, reinforce that if the house doesn’t get shown, it won’t get sold.

6. The House Isn’t in the Best Location

Unfortunately, you can’t do much about this. Real estate really is about location, location, location, and if the property isn’t in a good spot, it may take a while to sell. Make sure the sellers know that they may need to come down on the asking price in order to find a buyer.

7. The House is Poorly Planned

Once again, there’s not much you can do about a poor floor plan. However, sellers can incentivize prospective buyers by offering to pay for the home warranty or the services of an interior designer.

8. The House is in Need of Some TLC

If it’s obvious to the naked eye that the home needs some TLC, it won’t sell very quickly—if at all. Encourage sellers to give their property a facelift by doing small things like repainting certain rooms, making small repairs, replacing fixtures, and doing some landscaping. Buyers interested in fixer-uppers are few and far between these days, and two-income families want to spend the weekend relaxing, not repairing.

9. The House Smells Bad

This may seem like more of a cosmetic issue, but you’d be surprised how many potential buyers are turned off to a home because of a bad smell. Whether the sellers forget to take out the trash, have pets, or are smokers, they need to make sure their home smells spiffy when it comes time to show. Recommend that sellers get a professional cleaning done before any showings are scheduled, and, if necessary, to have carpet cleaning and furniture cleaning performed as well.

Experienced Realtor Bill Gassett recommends an ozone machine for those hard-to-get-rid-of odors. According to Bill, “An ozone generator will not only remove pet odors, but other troublesome odors caused by mold and mildew, fire, water damage and others.”

10. The House is Too Hot or Too Cold

Just like Goldilocks likes her porridge, buyers like seeing homes that are at just the right temperature. Selling in the summer? Turn on the air conditioning unit to a comfortable temperature. Selling in the winter? Pump up the heater so prospective buyers aren’t shivering during showings just waiting to escape to their warm car. Yes, sellers may need to spend a bit more on their electricity and/or gas bills, but if buyers aren’t comfortable in the home, they won’t take the time to see it.

 

Encountering problems that are keeping a listing on the market—especially if due to uncooperative clients—is one of the most exasperating things an agent can experience. If you find a home that’s not selling due to one of the aforementioned problems, try to work with your clients to remedy the situation as soon as possible. On the other hand, if the seller won’t budge on lowering the price or fixing up the home, it may be time to say goodbye and focus on more profitable uses of your time.

 

Have you experienced any other problems when selling a house? Please let us know in the comments below.


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10 Profiles to Circle on Google+ for Real Estate Pros

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We’ve talked before about how valuable Google+ is for real estate, but a huge part of getting started on any social media account is knowing who to follow. We’ve listed some of our favorite profiles you should circle on Google Plus so that you can start networking right away. Google+ is a great way to make connections in the industry and learn from other leading agents.

Note that this list is just the tip of the iceberg for the great content you can get from this social network. Many great profiles were already featured in our list of Twitter Accounts to Follow, so we thought we’d spread the love a bit for this round!

National Association of Realtors

The NATIONAL ASSOCIATION OF REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

The official profile of the Realtor licensing board, this account keeps a steady flow of industry information to keep you in the know.

Lender 411

Connecting you to trusted pros.

This company is very active on Google+ and is eager to share content with everything you could need to know about the mortgage industry. It truly is the 4-1-1 on the industry.

Dustin W. Stout

Social Media, Creativity, Branding, and Design with just a dash of inspiration.

This professional blogger stays in the know on everything related to social media and SEO, but he’s particularly knowledgeable in how to leverage Google+. He is easily one of your best resources if you’re just getting started on the platform.

Barbara Bottitta

My Team and I take pride in providing our clients the very best in service, real estate expertise and Internet technology. Our experience and professionalism benefit you, our clients, with all your home purchasing and selling needs.

Barbara is an agent who always has the buyer in mind. She has a knack for finding helpful resources for all of your first timers.

Andrew Fortune

I enjoy discussions about real estate technology, SEO, website design, small business success, and raising a family as a business owner.

Andrew Fortune is really taking off on Google+ and one of the key authoritative voices in the realty industry. He’s a wiz at making infographics and developing original content. Anything he doesn’t write about himself, he’ll be sure to share with his legion of loyal followers.

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Lynn Pineda

Real Estate Promises Delivered.

You’ve seen her as a guest blogger for us before. For a consistent stream of her great, consumer-oriented content, Google+ is the best way to connect.

Bill Gassett

Top producing Realtor building lasting relationships through real estate.  

Another one of our favorite guest bloggers also happens to be an expert at all things social media!

Deborah Lamb

Naples FL Real Estate Full Services, as a buyer’s agent, listing agent, property manager, home watch services and subcontracting coordinator.

One of the nicest people you’ll come across in the networking circle that is Google+, Deborah is always eager to share industry insight just as much as she is to wish her followers a happy Friday!

HouseHunt + HouseHunt Agents

Change your business, change your life!

We strive to produce quality content ranging from breaking news to design tips to market reports, and everything in between. Our goal is to be your one stop shop for all things real estate when you’re online.

BONUS: A Few of Our Favorite Google+ Communities

Agent to Agent

Real Estate Agents Helping Real Estate Agents

This community group is designed to be a way for agents to share their most valuable resources with others in the industry.

Real Estate

The Official Google+ Real Estate Group

The best conversations about the field are likely to break out in this community group. Network with the brightest minds in real estate, all under the influence of moderator and guru Bill Gassett.

Community Real Estate

Together, We Stand Stronger

Perhaps the largest North American real estate community on Google+, this will prove a valuable tool for furthering your education on the ever-evolving housing market.

 

Which Google+ profiles did we miss? Who do you recommend we put in our circles?


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