Buyers can be hard to nail down and you'll hear agents talk about the "Buyers Are Liars" phenomenon. It's a phrase usually used in frustration either when an agent loses a buyer or when he's at his wit's end showing homes that the buyer says work for her, but don't inspire her to make an offer. It simply means that buyers don't really know what they want, and often it's true.
Remember, buyers don't shop for houses every day and they probably don't know what they'll respond to until they see it. So you'll need to have a little patience with them.
Find out your buyer's preferred neighborhood. If he is unfamiliar with your city, find out what kind of neighborhood he thinks he'd like - urban, suburban, rural, mountains, coastal? Any particular commuting distance? Does he like charming older homes near the city center or new contemporary homes near the shopping malls? Price range?
Moving on... number of bedrooms, baths, garage? Any special needs? Don't get too specific though. Pushing buyers for too many details is counterproductive, believe it or not. If you keep pushing, he may start making things up to please you. Doesn't everyone want a garage and more than one bath? But he might not really care that much and, if you limit your search to his non-critical parameters, you'll miss a lot of great homes.
The other danger in asking for too many details is that your buyer will start telling you things like, "I really want a window over the kitchen sink" or "I want an open floor plan with lots of light." Depending on your inventory, you may end up with nothing to show her if you rely strictly on her wish list. And if you show her homes that don't meet her "requirements," she may think you weren't listening. You (and she) need to gauge her reactions to different styles of homes in person. Remember, buyers don't shop for homes every day and don't really know what they will respond to until they've seen it.
When I was shopping for a second home in Alabama, I told my agent that my "must-have's" were four bedrooms, a two-car garage and high-speed Internet access. What did I buy? A three-bedroom home with no garage and dial-up access only. But my agent was sharp enough to switch gears in the middle of our search when she saw that I was emotionally responding to homes in the country, even if they didn't have everything I claimed I had to have.
No, buyers aren't liars. They're just human beings who need our help... and our patience. And we are well-paid to provide both. In my opinion...
copyright 2007 Jennifer Allan
What great posts! It's amazing to me that agents complain about showing more than 10 houses to find the right one. It's my job, and the compensation is good, to find my buyers a home that meets their needs and wants --- whether or not it fits the description of the one they said they wanted in our first meeting. If a buyer gets into a house and isn't happy for any reason (my fault or not), it will reflect on my service. On the flip side, if my buyer is happy with their home and neighborhood, that will also reflect on my service and ultimately the number of referrals that I will receive from them down the road.
I would rather have a happy buyer that I had to show 200 houses in 10 months, than an unhappy buyer that I showed 4 houses in one day!
joyBrillantly written. Reminds me of what the mega-agents (Leo Nordine, Joyce Essex) do and a popular realtor phrase:
"List to Last"
Always listen to the buyers, but don't get stuck on tiny details. I like the advice. Thanks!
Excellent advice, still good in 2009. Service to clients does not go out of style.
More and more often Liars are getting caught out. Whether it be Buyers who think they are "sophisticated" or Buyer Agents who think that law enforcement will never catch them at their game of fraud - slowly but surely these folks are being eliminated from the real estate equation....