As a real estate agent, you can tell immediately who is a motivated client to buy a home. Then again, you can also tell who is a straggler: they talk to you here and there about their hopes and dreams of buying a home, yet they cannot wrap their heads around how they will be able to achieve such a dream. Many of these types of clients can afford to buy a home. In fact, it would actually be beneficial for these people to buy rather than continue to rent. However, they just cannot see the light at the end of the tunnel. So what do you do to motivate a straggler into a motivated client who is ready to buy a home?
From “Just Looking” to Motivated Client
This process can be long and arduous depending upon the person. You may work with a client who is very positive but afraid of all of the financial paperwork, family move, change of life, and new location that come with buying a home. However, you may work with the opposite type of client; one who is very negative and incredibly uncertain as to how they will buy a home.
Both of these types of clients have their challenges, but the best way to help them is empathy. Empathize with their individual situations. Use open communication and talk them through all of the steps that will go into buying a home, including all of the paperwork needed, the personal information, credit history, and mortgage options. Then, as you begin to search, they will feel more at ease. Obviously this is easier said than done, but the first step to success is the beginning. The beginning with these types of clients is getting to know them, and their individualized situations; then helping them with all of their needs in the home-buying process.
How to Motivate a Client to Buy a Home
Show them the light at the end of the tunnel. Do not let them start to get into a negative mindset. Show them infographics and lists online that simplify/clarify the steps to buying a home. There are tons of resources out there that help individuals looking to buy a home who do not understand what the process is going to be like.
There are many different ways to motivate a client to buy a home. However, you should never pressure a client who simply cannot afford it. This will likely lead to them losing the home or firing you as their real estate agent. You should always help them throughout the process. What you should do instead of pressuring them is provide positive affirmations. Give them lots of information on each and every step of the process. Start by showing them homes online and in person that, according to their income, financial history, and credit, they can afford. This will help grow their interest in seeing the many different, beautiful homes that they can choose from in great neighborhoods. This will often gain their trust, attention, and willingness to move forward with you as their agent.
When to Give Them Time
Most seasoned real estate agents know that only 3-5% of conversions happen in the first 120 days. That means that it takes quite some time for the average person to finally become serious about buying a home. With that being said, do not give up! They are likely going to go with you as their agent as long as you keep them in your pipeline.
So if they seem incredibly hesitant, are not returning your calls, and/or not agreeing to see any homes right of way, give them time. Make sure that you have all of their contact information and that they have yours. If you have an email marketing campaign in place, add their email address to it.
Whether you have a client who is uncertain, or one who is scared of buying a home, you have to start from the beginning to bring them to the final purchase of buying a home. How you start for each client is going to be different, but remember to understand their plight and reasons for buying a home in the first place. If you can do this, then you will ultimately be successful down the road in helping this person find that perfect home they’ve always wanted.