The home buying process has changed significantly over time with the intervention of digital media between the buyer and the agent. Earlier it was limited to a newspaper advertisement or a yellow page corner from where interested buyers contacted agents to start with, following a long process of trips around the city to find a suitable home.
These days, it has been highly automated. There are more agents that want to contact buyers than there are buyers who want to contact an agent. This is mainly due to the monumental reach of digital media.
In such a situation, it is important for buyers to express genuine interest towards a home buying interaction and it is important for the agents to know when a buyer would actually not buy.
Let’s talk about the situation in detail :
The Buyer’s Dilemma
As a home buyer, you would be taking one of the most financially important decisions in life because a home amasses a large sum of money as well as your time.
Such a decision could not be taken in haste, without proper investigation and considering a handful of options. It is natural to spend some time before actually making the cut, and often back out on great looking houses just because things didn’t seem all right.
People these days have a large number of options in the form of flats, houses, villas and bungalows that are managed by responsible agents. Buyers clearly don’t spend as much time with an agent before finalizing on a home as they used to spend earlier, and might consider moving on to a new agent if things don’t go well for a month or so.
The Agent’s Dilemma
For agents, it has been even more difficult. They have to be resourceful, energetic and go beyond limits to show around the best properties in the town to seemingly interested buyers.
Many a time these buyers won’t really convert into customers but the effort cannot be reduced for each one of them that contacts these agents. This often wastes a lot of precious time for the agent, where he/she could probably talk to another party for a better deal.
The bigger issue at hand is that many customers are never going to buy anything from the agent but they act as interested until the very end, consuming both patience and time of the agent. This leaves the agent vulnerable to unrequited labour.
The Middle Ground
Thankfully, there is a middle ground on which, both the buyers and sellers can take a stand upon.
Buyers need to understand that the agent’s time is precious and so they must express their interest as honestly as possible. Buying a home is not similar to buying most things in general and hence if the agent isn’t rising up to the need, they must be informed about it as soon as possible.
Agents need to know that not every buyer would turn into a customer, for which they need to ask appropriate and a lot of questions from the interested parties. These questions will allow them to assess who to give more time and when.
These things will help agents bring out their best in themselves and buyers would find true advice for their money.
Being long established real estate agents, we have gone through the agent’s dilemma a number of times and we quite nicely understand what buyers want. Hence, if you are looking to buy, rent or sell a property, we will help you make the cut as profitably as possible.