Who’s For Real and Who’s Faking It?

March 29, 2017

Prospecting Strategies

As we are now in the spring real estate market, many sellers are putting their homes on the market within the next 30 days.

It’s now time to determine who your serious and motivated clients are.

When working with consumers, it’s imperative to thoroughly qualify your prospects to make sure that they are financially able to make a move and want to take advantage of this great market. I believe it’s better to have quality clients right now instead of quantity of clients and prospects that aren’t motivated to listen to you.

Sellers, who have had their homes on the market through the winter, need to buckle down and really look at what needs to be done to get their home sold.

Here are 3 steps you need to take:

  1. If you have active listings that aren’t selling, meet your sellers with an updated CMA and discuss the current market place with them. (Hopefully, you’ve been keeping them updated throughout the listing period.) See if they’ll adjust their listing price to get an offer on their property. Do they need a dose of reality in having their home in top showcasing condition? If their home needs some work, show them other homes on the market that you know show well, because that’s what they’re competing with. Your sellers need to be motivated to sell or you’re just spinning your wheels going into the fall months. If they aren’t serious about selling, then recommend they take their home off the market until they improve its condition or until the market rebounds. (We’ve all heard “It’s no time to just test the market”.)

  2. Review your list of current buyers who said they want to buy a home this year and if it’s been awhile since you’ve shown them a property, schedule a time to meet with them again one-on-one and have them re-focus on their housing goals. Find out what’s most important to them. Interest rates are still great with favorable housing prices and plenty of inventory to show, so see who’s ready to buy a home in this market.

  3. Do you have any prospects that have fallen by the side over the past few months? Call them NOW and see if they are ready to sell or buy now. If not, find out when they’ll be ready and keep in touch. If you have any buyers, who are waiting to buy, because their credit situation is not where it needs to be, help them by having you or your mortgage partner put them on a game plan for restoring their credit. Some buyers only need 6 – 12 months to bring their credit score back to where they can qualify for FHA/VA or conventional mortgages. Don’t blow off buyer prospects that can’t buy this moment! If they make a sincere effort to qualify for a mortgage, you’ll have a loyal buyer when they’re ready to buy in the near future.

One last question: When someone asks you about what’s happening in the market based on all the news, what are you saying?  I tell them “It’s a great market.  Who among your family and friends do you think is next to buy or sell?”

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