Conversations you Must Have with your Buying Clients

Feb 10, 2022

To Become That Stand-Out Agent

Crazy business, isn’t it? You studied, got your license, paid all those fees, found a broker, and GOT TO WORK.

If you were lucky, once onboard, your broker had some sort of training program for new agents. Most, however, teach a few rudimentary tasks and send agents on their way.

What is universally lacking is training on how to work with clients – especially buyers. In many cases, this leads to a less than stellar experience for home buyers.

Want to become a stand-out with your buyer clients? Here are three things you absolutely must share, that many agents won’t.

Rent By Numbers Campaign, see more **HERE**

Closing costs

Have you ever wondered why there is so much focus on educating buyers about the down payment while details about closing costs are rarely mentioned? I have a theory about that.

Buying a home is expensive. That’s a given. Telling a client who is on a budget that they’ll need thousands of dollars in cash to put down on a home almost feels like we’re scaring them off.

Once past the down payment hurdle, who wants to say “Oh, yeah, by the way, you’ll need about that much more in cash for closing costs?” It’s much easier to let the lender take the hit for that one, right?

But we owe our clients much more than this. There is nothing worse than meeting with the lender and learning you’ll need twice as much cash as your agent told you that you’d need.

So, vague references to closing costs don’t cut it. Be the agent that helps change the perception of the industry by being upfront and honest about all aspects of the transaction – especially financial aspects.

Give them more information about the loan process

First-time buyers have a tendency to think that loan preapproval is an iron-clad guarantee that they’ll get the loan. It’s the lender’s job to tell them otherwise but how many do so?

Since you, as the agent, have a vested interest in the buyer’s successful closing, don’t assume the buyer’s lender is going to do this.

What is especially important for your buyers to understand is that their loan can fall apart right up until the moment the loan is funded.

Quitting a job, moving money, buying anything on credit, applying for new credit can doom the entire purchase.

First Time Buyer Campaign, see more **HERE**

Treat the final walkthrough seriously

I once had a friend who bought a house and used a well-known local agent. It was her first home so she relied heavily on the agent’s experience.

During the final walkthrough, my friend allowed her agent to take the lead and, it’s a good thing because all of the appliances which were to remain with the home were gone. Refrigerator, washer, dryer – all missing.

Since the walk-through was scheduled the day before closing, the closing had to be postponed while the seller replaced the appliances.

After my friend moved in she found that the garbage disposer was also missing, plants were removed from the landscaping and several other fixtures were gone. At that point, it was too late to remedy the situation and she was forced to replace everything out of her own pocket.

The agent fell down on her duty to her client.

Make a walk-through checklist of every aspect of a home and use it during the final walkthrough. Counsel your client to move slowly and inspect everything.

PLUS: When you have time…below are some additional tools to support your success.

1. The Free 12 Month Done-For-You Strategic Marketing Plan

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3. The Free Interactive Real Estate Business Plan

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4. The Become a Listing Legend Free eBook

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5. The Take a Listing Today Podcast