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At some point you and your buyer will leave the planning, the numbers, and the theory behind and actually see some homes. The time you spent planning will be rewarded with time saved in the search. As you visit homes, try to confirm that you are on the right trail. If your buyer needs to change the direction or focus of the search, the sooner you realize it, the better off you will be. What is your objective? Obviously, to find a home... but remember that you are also building your buyer’s market knowledge. When it is time to make the choice, no one else in the world will be better equipped to make the decision. It is best to show your buyer all homes that might meet his needs, the bad ones along with the good ones. Without this knowledge, he cannot comprehend his segment of the market. Previewing homes for your buyer is generally a waste of time. Worse yet, you rob him of an accurate view of the market, and might even rule out his dream home. Try to have a good time along the way. Showing property should be fun. You can show up to 40 homes in a day, even spread over a wide area, if the tour is arranged in proper geographic order. This is a bit tricky, but you must become an expert in arranging a tour unless your MLS program includes a sequential tour-mapping function. You might send a local buyer on a tour to see the outside of homes without you. Supply the list of homes in geographic order. Is the buyer-broker agreement signed? As you are driving to see each home, have your buyer locate it on the map. Is it convenient to major roads, shopping, schools, and work? Evaluate the second facet of location: The area, or neighborhood. Are the homes and lawns well maintained and is the separation between properties acceptable? The third and equally important facet is the home site. Is the lot large enough? Does it have enough useable space? Is the home properly situated on the lot? Is the home reasonably similar in value to surrounding homes? Does it fit or blend into its surroundings? Is it free from noise from roads, railroads, and airplanes? Do you see the front of the home as you approach? Is it good looking? One does not live inside “curb appeal” but it is an important factor. Remind your buyer that even experienced agents cannot accurately determine the size of a home from the outside so that he is not fooled. Is the general design of the home acceptable? Is it well proportioned and well sited? These factors are difficult to modify. If the answer is “No,” then do not waste your time. Grab your buyer (gently) and drive on to the next home on the tour. Yes, the seller might have spent an hour getting ready for your visit, but that is not a good reason for you to waste time and possibly even leave the seller with a false sense of hope. What about decorating? Most buyers are unwilling to deal with any major work. But if your buyer is willing to see past the decorating and the mess, he might buy a home for a very good price because it will appeal to very few others. Even a soggy basement might be fixed for a reasonable cost, but be sure to get an expert opinion before you are under contract. Be alert to special features as well as potential problems, but resist the urge to play home inspector unless you are ASHI (American Society of Home Inspectors) qualified. Train your buyer to take less than ten minutes to inspect a home. Just a few quick notes of the most important factors and perhaps a memory jog. The main question your buyer should be trying to answer is, “Do I ever want to return to this home for a second visit?” Once the answer is apparent, it is time to go. But never offend sellers by making negative comments in their presence. Your buyer should pay careful attention to his demeanor when in the presence of the seller. One can smile and act friendly, but keep comments to a minimum. Avoid telling the seller that he has just fallen in love with the home and must have it at any cost. This would be less than clever, but it does happen. Comments about price range or timing can also compromise your buyer’s position. Remember, even if he is dying to have a swimming pool, do not admit it. If the seller has invested in a pool, he expects that it will be a gift to the next owner. Do not spoil this notion with needless conversation. If the seller is talkative, you might gain valuable insight. You might even learn why the seller is selling as well as his desired moving date. Feel free to listen, but your buyer should keep his comments to a minimum. It is your buyer’s responsibility to keep the homes you have visited in perspective. One valuable aid: After you have seen a few homes, tell your buyer to keep the best one clearly in mind. Compare each successive home inspected with this first choice replacing it in memory when a better one is found. Use what you are learning on the road to tailor your tour if necessary. It is a process of elimination. Your buyer should be developing a short-list of two to four homes that you will visit again and then consider carefully. If your buyer tours homes just waiting for that one to jump out at him and not making careful notes, you will all end up disappointed at the end of your search to find that everything is a blur, nothing jumped out, much time has been spent, nothing has been accomplished, and you are standing at “GO” not even having collected your $200. You certainly do not want to go back to see all of those homes a second time, even if it was fun. The choice of a home is very personal. Many factors are readily apparent, such as the age, lot size, and number of bathrooms. Many factors are not, for example, the feeling your buyer has inside a home or in the general area. The more questions you ask, the more you can help your buyer compare, and the more you attempt to quantify, the better choice he will make. You might even design a checklist to take on the road to help your buyer collect important information. Just remember to keep it simple. If one tries to record even 10 or 15 factors, the process will soon become unmanageable. Freely share your wealth of information on how the market views certain factors. A buyer will consider this information carefully if the home needs to be a good investment and readily salable when the time comes. The more you discuss, the more information will be available to make that important decision. So talk to your buyer in each home as well as in the car. Before you have seen 20 homes, your buyer will have developed firsthand knowledge on his segment of the market. Many of the homes you visited have been clear rejects, but someone will buy them some day. At some point your buyer will develop a short-list of two to four properties that will receive very careful consideration. Return to each home on the short-list and spend enough time to collect all the information your buyer needs. You might even check clothes closets to determine how many of the owners currently are living in the home. Make careful notes of any important questions. All the homes should be revisited in one day. If your buyer needs to get the kids’ opinions of these homes, include them in your final tour. As you visit each home, ask your buyer whether he has a comfortable feeling. You might ask him to sit quietly for a few minutes in whatever room is his favorite. If he is not comfortable, there is something negative reaching his senses but avoiding his consciousness. If you can determine exactly what the problem is, then the solution probably will be either simple or nonexistent. During this round of final visits, your buyer should be able to eliminate some of the homes. This is progress. If you are lucky, one or two of the homes will stand out above the rest. By the time you are done, the short-list probably will be shorter and your buyer will be in a position to make a choice. While the process described above will work well in many market situations, it does require time. In a hot sellers’ market, encourage your buyer to develop the ability to make a final assessment of a home’s acceptability immediately on the spot. Time consuming deliberation and a second visit to any home can mean that the home is sold to someone else before your buyer’s offer is even prepared. Above all, remember that the time you spend on the road with you buyer is one more important step in your quest to create a client for life. |
