Presentations – Why Aren’t Your Buyers Loyal to You?
A complaint voiced by many agents involves the lack of loyalty exhibited by buyers. These agents don’t trust buyers to respect the time, energy and effort that they make. In fact, it may just be that the buyers don’t really see a difference between working with one agent as opposed to any other.
In many states such as Virginia, buyers are obligated to sign exclusive representation agreements that guarantee an agent will be compensated for their efforts. Although it may not be possible to have a buyer sign an exclusive representation agreement, your goal as an agent should be to make the benefits of your involvement so compelling, that the buyer feels like they must have you on their team.
The best way to do this is to share with your buyers your intimate understanding of market trends, economic indicators, and negotiation expertise. A simple analysis of key indicators such as supply and demand trends, consumption rates, and price variations can have a huge impact on how you are perceivedby your clients.
When you are conveying valuable information about market trends and the economy, it is critical you take two additional steps.
- First, be sure to apply the specific facts to your client’s personal situation. Make certain that you show your clients the direct impact these trends could have on their decision.
- A great statement to make is, “You can appreciate how important it is for you to be aware of this information, can’t you? It never ceases to amaze me how so many agents are unaware of critical data and information that has a direct impact on their buyers. Can you imagine making a decision that involves hundreds of thousands of dollars and not having this information?”
Once a buyer appreciates the level of service you are providing and the commitment you are making to them, take the shot by asking them to make the same commitment to you by signing an exclusive representation agreement. If they say yes, you now have a totally committed buyer. Even if they respectfully decline, you have put them on notice that as a professional, you expect to be treated fairly. If a buyer is unwilling to make a commitment to you, you should take their refusal into consideration when prioritizing your hot buyers.