What "comfort level"??? Where is it? What is it? Where can I find it?
Finding a "comfort level" for your buyer.....How do you do it? Are you satisfied with your approach? Do you have a reputation for informing your buyers, or do you find that many of your buyers walk away from the buying process???
I have found that the most difficult thing to accomplish when working with a buyer, is to give them a level of comfort for the process of making a deal. Usually, the first thing a buyer will do is decide to "think about it" for a day or so when they have found something they like. During this critical time of thinking it over, they get fearful and question the idea of buying a home. They may even decide not to do it at this time!...giving them too much time without talking to them or communicating with them gives them the psycolgical excuse to say "we have decided not to buy at this time"..even when they really want the house!
"BUYERS REMORSE" can and does set in, long before the deal is done. Anyone who has bought a home can relate to that feeling in the pit of the stomach--a feeling that maybe, just maybe you made a mistake! The dread that sets in if the buyer does not have all the facts can be quite disturbing.
This has happened to me; at the very beginning of my real estate career, I was afraid to be "too pushy" with my buyers. It did not take long for me to realize that unless I pushed for an offer, it would not happen. I did it with the idea in mind that the buyer NEEDED to be guided or they would fade away into the community, ending up in another office looking for the "guidance" they were looking for.
HAVING LEARNED MY LESSON....I now have handouts to give them; I keep them in the loop and informed of all things real estate...especially the first time buyers. No one leaves my office with the feeling that they are not WELL informed.
I take the time to give them as much good, solid and factual information as possible; I prepare a list of comps for the property, and I make sure they know everything about it and others like it:
- I take the buyer on a drive around the area, then around the comparable neighborhoods.
- I give an evaluation of property values and the most recent sales for the whole community, with the home's selling vs. asking prices.
- The buyer may have more questions regarding schools, groceries, libraries, etc. and I give them a map to show all applicable locations including parks and walking trails, etc.
- I make sure they have their financial work squared away so that does not keep coming up for them during the finalizing of the deal.
- I make sure the inspection is done as soon as possible--again to prevent problems before the contracts get signed.
- If there are issues that the buyer is not comfortable with, we talk it over with the other agent or the owner, to see what can be done.
- Small concessions may be agreed to if there are issues.
In my years of getting deals done and getting them closed with a happy buyer and seller on the other side, I have yet to have someone back out after they have found something they like....maybe that is just luck.
I like to think that it is the hard work that I do in the process to make sure there will be no surprises for anyone in the end. I have many happy customers who tell their friends about me and as a result, I have increased my customer base exponentially.
**ALL INFORMATION AND CONTENT IN THIS BLOG IS ORIGINAL TO PAULA I. HATHAWAY. The views expressed herein are my personal views and do not reflect the views of Douglas Elliman Real Estate
Paula I. Hathaway, Senior Broker Associate, Douglas Elliman Real Estate
Southamtpon Village Real Estate Specialist since 1995; Also Specializes in North Sea, Noyac, Water Mill and Bridgehampton, New York
Diamond , Gold and Chairman's Circle Awards; Top Producer since 2005
Click here to see my Hampton's website to see all my listings; please email me or call me for all your real estate needs in Southampton, Bridgehampton and Watermill: http://www.elliman.com/paulahathaway
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