Essential for Real Estate Agents to Cultivate Relationships with Buyers
In today's competitive real estate market, simply listing a property and waiting for offers or genuine interest is no longer enough. In order to run a successful campaign, agents need to be proactive in identifying potential buyers and nurturing those relationships over time.
From my 35 years of experience, I've seen firsthand the importance of staying on top of home buyers. In fact, I believe this should be a top priority for all agents in any market especially given the burgeoning buyer agency industry, frankly emerging from a vacuum of the lack of buyer servicing by agents.
There are a few key strategies that I've developed over the years to help me keep on top of home buyers. These include ‘call back like dialogue’ at open homes in real time, doing call backs on a Saturday afternoon, and collecting more detailed key pieces of data at every inspection.
At open homes, I make a point of speaking with every potential buyer who comes through the door. This not only helps me gauge their interest in the property, but it also allows me to identify any homeowners who may be interested in selling their home now or in the future. By asking a few simple questions, such as whether the property is of interest to them and whether they would like to be added to my database or book in an appraisal, I'm able to build a list of potential buyers and sellers who I can reach out to in the future.
By conducting call backs on Saturday afternoon, I'm able to provide my sellers with immediate feedback on the level of interest in their property, which helps them decide to adjust their campaign strategy if required with more urgency. This also leaves my Monday free for other important tasks, such as past client prospecting and pipeline database nurturing.
Finally, I make a point of collecting three key pieces of data at every inspection: the buyer's name, email address, and postcode.
By collecting this information, I'm able to break my call lists up into two categories: those who own property in the area and those who have expressed some level of interest in the property. This allows me to tailor my marketing efforts to each group, increasing my chances of success.
But, why is it so important for agents to be proactive in keeping on top of home buyers? The answer is simple: in today's market, buyers have more options than ever before. If you're not actively working to build relationships with potential buyers, you're likely to miss out on opportunities to sell your clients' properties. At the same time, being proactive can help you to build a strong reputation in the industry. When potential buyers see that you're willing to go the extra mile to help them find their dream home, they're more likely to refer you to their friends and family members.