Two Ways to Identify Unmotivated Buyers
What is the #1 bane of Buyers’ agents?
Unmotivated Buyers.
As a public service to my (occasionally beleaguered) colleagues everywhere, herewith are two ways to identify such Buyers (for illustrative purposes, I’ll call them “the fast way” and “the slow way,” respectively).
Strategy #1
Once you’ve gotten acquainted with the prospective Buyer, given them a chance to check your references, explained the purchasing process, etc. . . . press for a written commitment (a good practice in any case).
Specifically, ask them to sign an exclusive Buyer’s Representation contract, with a reasonable (but not overly long) expiration date.
Unmotivated Buyers will balk.
Or, just as tellingly, they’ll ask “what happens if I don’t buy anything by the end of the contract?,” followed in quick order by “Will I (still) owe you anything?”
Real Buyers with real buying deadlines — what agents call “motivated” — don’t think that way.
Call the foregoing “the fast way to identify unmotivated Buyers.”
Strategy #2: The Slow Way
So, what is the slow way to identify an unmotivated Buyers?
Show them 50 homes, in 4 zip codes, over six months.
Endlessly tweak the client’s saved searches to reflect their evolving style preferences and shifting price ranges.
Exchange dozens of emails analysing and discussing candidates.
Give up in frustration (exasperation?).
Big difference, huh?
(You’re welcome)
You (Don’t) Get What You (Don’t) Pay For
Buyers’ agents who regularly squander their time this way tend not to survive long in the business.
Which I guess suggests this corollary: agents who can indulge unfocused/unmotivated Buyers tend to be new and/or inexperienced.
Conversely, as Realtors gain experience, they become more skillful qualifying their clients — both Buyers & Sellers — and focus their time accordingly.
See also, “Realtor’s Prayer; “Serious Buyers: Top 10 Signs“; “Unserious Buyers: Top 10 Signs“; and “Is the Buyer Serious? Here’s One Clue.“
