How to create loyal buyers

How to Create Loyal Buyers by Cres McFall (SF South Bay) www.mcfallrealestate.net

 

One of the phrases sometimes repeated by real estate agents is, “Buyers are liars.” That comes from the frustration felt when a buyer-client buys something different from what the agent thought the buyer wanted, and sometimes buys it through another agent. How can we become so valuable to the client that they feel loyal?

 

The following goes into some detail about how to interview buyers before you show them homes. Believe it or not, the interview connects you with buyers so effectively that they won’t even consider working with another agent. In fact if they have been working with other agents, they will adopt you as their only agent.

 

We often hear clients say that they will know the right house when they see it. The “right house” is a vague concept that they can’t describe. This interview is the answer. The following is an extraordinary form of listening. It enables you to:

 

Qualify the motivation of the buyers, Streamline the process of finding the right home. Build a healthy, trust-relationship

In a number of instances when this interview process has been followed, the agent has been able to understand clients’ needs so thoroughly that the agent could narrow the choices easily, and occasionally sell the first house shown. One woman exclaimed, before they even entered the house, that the agent had, “climbed into their head.” This was not luck. Master this outline. You can know where the bulls-eye is and hit it.

 

There are 3 qualifying steps:

 

What will they buy? Will they buy now? Will they buy from me?

 

This first step involves a series of questions that uncover your clients’ attitudes and feelings about their future home. These questions follow a pattern that enables you and your clients to move beyond the superficial and obvious and to reach the heart of their desires.

 

Begin with open-ended questions. For example, “Describe your next house,” or “Tell me about your dream home.” Don’t be tempted to ask specific questions such as “how many, where,” etc. The objective is to allow your clients to explore their own thoughts about a home.

 

Sometimes couples surprise each other in this process, because new ideas surface. Watch for words that are emphasized or repeated. TAKE LOTS OF NOTES! Nod your head, make listening noises and keep still. (I know that’s difficult!) This listening may take an hour or more.

 

To further open up the thinking process, ask modified open-ended questions. These sound like “Tell me more about [whatever they have mentioned].” The process is called “layering down.” When they look off into space as they describe something, you’re on the right track. They are envisioning the enjoyment of some aspect of their new home. You don’t want to rush this process. Continue to stoke it and stoke it and stoke it until you have plumbed the bottom.

 

As your clients talk about their future home, they will talk mostly about “features” (big yard, one story, 4 bedrooms, etc.). Here is where you demonstrate a superior ability to understand them. People do not buy features. They buy the benefits derived from features. So the next step is for you to translate these features into benefits.

 

The next part of the interview is to ask, “What does having [a feature] mean to you?” or “Why is [a feature] important to you?” Work through the more prominent features. Listen for the benefit behind the features. I memorized these benefits so I could easily teach them to others, but the essence of the idea is to understand that features are the superficial expression of the benefits. It isn’t suggested that you talk about “benefits” to your client. Just be aware of them.

 

There are only 14 benefits derived from owning anything. Here are the benefits:

 

Aesthetics Comfort Convenience Economy Education Entertainment Health Love (romance) A spouse or partner will sometimes buy to please the other one. Prestige Privacy Recreation Safety Security Self-actualization. (could be a work bench in the garage, a rose garden?)