This is a follow up to a post below which seems to state that the way to have a good source of buyers is to have a lot of listings. Since I’m always re-thinking everything I’ve learned in real estate, especially in these times of rapid change, it has occurred to me that having a lot of listings may not be the most effective way to attract buyers. I’ve intuitively known this for awhile, but never stopped to put my intuition into a reasoned argument.
There are many lookers in the market, the ones who ride around on Saturday and Sunday and call the number on the for sale sign to get information about the listing. Since being in real estate I have answered a lot of these calls, and I have developed a response to these calls. I was told early on that the “buyer” calling about the house is not likely to buy that particular home, so the first order of business is to give them information about the home, then when they don’t respond favorably, ask them if they are represented and if they aren’t, offer my services to find for them the house they’re looking for.
To be honest, this HAS created business, but now, looking back, it hasn’t been near as effective as meeting buyers upfront on the internet when they are in the early stages of home-hunting.
Creating a bond of trust upfront with buyers searching on the internet has been more effective and productive, and I think mainly because I’m not meeting them in the position of a salesman trying to sell a particular home, which is how I meet them when they call on a listing.
It’s easier to gain their trust when we meet online and they see me as a real estate professional offering information and service. When they meet me through a sign-call they see me as a salesman trying to sell that particular home, and the switch to offering buyer services may be rendered ineffective by that first impression.
If I can get a buyer in the beginning when they are gathering information, then I can offer whatever listings I have that meet their criteria much easier because they see me as a professional offering buyer services with my listings as just a piece of the wide array of options available – especially if I offer them the option of getting a buyer agent if my listing is, indeed, the one they are interested in.
So, while I’m not saying sign-calls are ineffective in gaining buyer clients, I’m saying that the argument you HAVE to have a lot of listings to keep a good source of buyers doesn’t ring true for me, and my experience since going heavy on the internet shows otherwise.