Thursday, August 4, 2011
Working with Buyers Tip #4
What does the buyers home search process look like?
• Median number of weeks searched: 12
• Median number of homes seen: 12
How much time are you spending with your buyers? If you're spending more than 10 weeks with a buyer are they a real buyer or someone wasting your valuable time?
The length of the typical home search rose from eight weeks in 2007 to ten weeks in 2008 to 12 in 2009. During the search for a home, buyers viewed a median of ten homes before making a purchase.
Among buyers who used a real estate sales representative / broker when searching for and purchasing a home, the median length of the total search was ten weeks. before contacting the sales representative / broker, these buyers typically searched for two weeks. The median length of the home search for first-time buyers is 12 weeks. First-time buyers also searched for a somewhat longer period before contacting an sales representative / broker.
• What kind of qualification process are you using before you work with a buyer?
• Did you make an appointment with a qualified Mortgage Broker?
• Do you feel like you are a professional tour guide or taxi driver?
• Do you have a buyer that you've shown over 30 homes and they haven't made a buying decision?
• Do you really know what their wants and needs are?
The goal is in better qualifying your buyers and provide showing/selling strategies so that your time is more productive.
Your next tip, I will discuss lead generation.
I hope you find this information useful. Thanks for stopping by.
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Constantine Isslamow | Broker of Record
CENTURY 21 United Realty Inc. Brokerage
387 George Street South, P.O. Box 178
Peterborough Ontario. K9J 6Y8
Direct Line: 705.743.4444 | Fax: 705-743.3702