Strategies for a Changing Market, Part III

Real estate markets may be changing, but smart Agent CEOs know that there are still many strategies that can keep them on top. Here's the second of several success tips:

Working with Buyers

When working with buyers, in many markets we now face a surplus of inventory, which means many more choices for the buyers which can lead to a lack of urgency. Homes are taking longer to sell, so the listings must be competitively priced and many sellers (especially builders) are making non-price concessions, like closings costs, home warranties, etc.

So, what can Agent CEOs do?

1. Have them come into the office for a counseling session to let them know how they work
2. Have buyers sign a buyer-broker agreement
3 Make sure the buyers are pre-approved
4. Practice your objection handling skills. Typical questions to be best prepared for include:
* I want to think it over
* The price is too high
* The kitchen needs upgrading
* The yard is too small/too large
5. Hone your negotiating skills because in this market, many buyers may want to low-ball, want too many concessions, or want too many contingencies

Tomorrow, we'll address seller strategies in a changing market...