How to Turn Any Buyer Into a Satisfied Customer
Some have unrealistic expectations, while others just can’t seem to like anything you show them. Then there are those who complain about everything and those who are so rude that it crushes your soul.
Have you ever worked with a similar buyer and thought “Is there anything I can do to keep me sane?”
Luckily, we’ve complied a few pieces of advice you can give to your buyers that will make their life, as well as yours, a lot easier.
Spending More Can Save You More
With today’s housing market on the upswing, it’s only a matter of time until interest rates start to rise. For those buyers that lose deals because they don’t want to spend a few thousand dollars more to make a deal with the seller, explain your point by doing a little math for them.
Calculate their approximate mortgage payment with their offer price versus the seller’s lowest price. If they were off only by a couple thousand dollars from having their offer accepted, you will see that their monthly mortgage payments would not have changed by a significant amount.
Next, calculate both amounts with a slightly higher interest rate, let’s say 0.5% higher. The higher numbers you get will hopefully make them realize that the sooner they buy (while interest rates are still low), the more they will save. My point is demonstrated in the example below.
Home value: $300,000
BUY NOW » Loan amount: $240,000 @ 4% interest = $1,458.30
BUY NOW » Loan amount: $245,000 @ 4% interest = $1,482.17 ($23.87 increase only)
BUY LATER » Loan amount: $240,000 @ 4.5% interest = $1,528.54 ($70.24 increase!)
BUY LATER » Loan amount: $245,000 @ 4.5% interest = $1,553.88 ($95.58 increase!!!)
Credit and Stability is Key
Advise your buyers to refrain from opening new lines of credit and using their credit cards on large purchases. These are things that their loan officer has probably already told them, but it’s an important factor that doesn’t hurt to be repeated.
Your buyers should also be aware that employment stability until closing takes place is also very important.
Remember to disclose that that these are just a few friendly pointers, and that you are not a licensed loan officer (unless you are that too).
After viewing several properties, the details of each can start to blend together towards the end.
So, to avoid confusion, encourage your buyers to take notes of each property you show them. They can make pros and cons lists, rate different aspects of the home on a scale of 1-10, or use a checklist of features to help them remember everything.
You can even go a step further and provide them with a checklist or a rubric – how thoughtful of you!
As always, make sure that you put your customer’s best interest first. These tips will help them make more informed decisions, which in turn will lead to more referrals coming your way, because you just made yet another customer satisfied with their new home.