Home Buyers Have Changed. Have you?

HOME BUYERS HAVE CHANGED.
HAVE YOU?
Pranav Pandya
Franchise Development Manager
RE/MAX Mumbai Gujarat Maharashtra
Understand your customer's journey to buying a home.

SELL MORE HOME
Engage in Customer’s journey, not just the transaction

Consideration
Introduce yourself and allow the lead to browse.
Build a foundation for a long term relationship
Home buyers are thinking:
 I want trends and high level information but I haven't even thought
about talking to an agent.
 Is now a good time to buy?
 What areas should I consider?
 What type of home do I want?
 How far do I want to commute?

Leads in this stage are:
 Just thinking about buying
 Probably not talking with other agents
 Noticing real estate related news and info
 Seeking information from friends, family, and online

What you should do...
 Contact them immediately, but don't sell
 Let them know you're available for questions
 Don't rush engagement, let them come to you
 Get technology to track and engage over the long term

Test your knowledge 1/4
Which is a sign that a lead might be in the consideration phase?
 Complaining about their current living situation on Facebook
 Getting married and/or expecting children
 Relocating for a new job
 All of the above

 Answer: All of the above
 There are several small signals consumers give to show that they are in the consideration
phase. Listen to your friends, family, and follow comments on social media.

 76% of home buyers found their agent via a referral
 True
 False

 Answer - False
 According to a recent survey, only 40% of buyers found their agent via a referral and only
10% used an agent they worked with in the past. Nearly 1 in 3 found their agent online.

 What percentage of home buyers are also sellers?
 23%
 43%
 78%

 Answer: 43%
 According to a recent study of home buyers and sellers, almost half (43%) of all buyers also
had a home to sell.

 What's the main reason people search online for homes?
 Browse listings
 Find an agent
 Get preapproved for a loan
 All of the above

 Answer: Browse Listings
 The primary reason buyers go online is to browse listings. If you want buyers to visit your
website, make sure it has listings, and lots of them!
Bottom line
Be known, but let them browse

Fast Fact

Online Research
Be found where the leads are, online. Communicate on their terms
and aid them in their quest for information.
Home Buyers are thinking:
 I’ve started browsing and researching online to get an idea
of what I want and what's available.
 What can we afford in our area(s) of interest?
 What are the demographics, schools, crime rates like in this area?
 What financing options are available?

 Browsing listings online, but still far from buying
 Exploring what they want and what they can afford
 More likely to communicate via web & email
 Not ready to choose an agent, but need expertise

 Be found online
 Ensure your website is a source for information, not a sales or marketing pitch
 Reach out on their terms. Don't rush a meeting.
 Email with relevant information to develop trust and stay front of mind

Home Buyer Behaviour
 55% Searched online during the home buying process
 85% Who performed research online visited the website of an agent
 75% Registered on a website to receive listing alerts

Information Consumers are Gathering Online
 Details about homes on the market
 Neighbourhood and school information
 Specific market conditions
 Tips on purchasing a home
 What homes are worth in their area
Bottom line
Increase Your Online Presence

Active Search
Time to meet leads face-to-face and show them why you're the best
agent in town. But, don't lose them before you get here.
 We have a rough idea of what we want and want to start touring
properties with an agent.
 How many homes have you sold in the past year?
 How well do you know the areas I'm interested in?
 What do you recommend based on our budget and needs?
 Do you have connections that can make this process easier?

 Ready to tour homes in-person with an agent
 Aware what they want and what they can afford
 Want specifics about the buying process
 Need recommendations based on experience

 Be available to meet in person and tour homes
 Offer recommendations based on their criteria
 Provide specifics on the home buying process
 Respond quickly

Triggers that begin the buying process
14.8
10.1
6.7
4.2
2.4
Found a house they Liked Family Reason Retirement/Downsizing Tired of Paying Rent Other reason

Fast Facts

1-2-3
Top three traits buyers look for when choosing an agent
1. Honesty and Trust
2. Knowledge of Local Area
3. Reputation
Bottom line
Buyers in this stage already have an agent in mind

Transaction
Provide exceptional service and guidance. Give customers
a reason to promote your services.
 We need an agent to negotiate contracts and advise and
guide us through the process.
 What's the process for buying a home? What are the milestones?
 How much should we offer for this home?
 What are the contingencies? Can I lose my earnest money?
 Are we competing with other buyers?
 How long after closing can we move in?

 Ready to buy a home
 Curious about the process (appraisal, etc)
 Wondering if they are getting a good deal
 Concerned about timelines and logistics

 Display your expertise
 Guide them through the process
 Provide resources and referrals
 Do what's best for your customer

Buyers Need
 Assistance finding a home
 Suggestions for home inspectors and financing companies
 Clarification of inspection reports and contract details
 Help negotiating terms of sale

Sellers Need
 Assistance in pricing their home
 Help marketing their property to buyers
 A liaison between themselves and buyers
 Support with contracts and negotiations
Bottom line
Give Them a Reason to work with You again

Post-Sale
Keep in touch with your customers to ensure repeat business and
referrals.
 I want to know if my property is going up in value or not and what is trending in the market place.
 I want to know about changes in my home's value.
 I would like to receive updates about my local real estate
market.
 My friend is looking to buy a home, who should I refer them to?

 Comfortable in their day-to-day
 Not thinking about real estate
 Appreciate information about their home's value
 Likely to buy again in 5 to 7 years

 Use automation tools to stay in touch
 Provide gentle reminders of their home's value and market conditions
 Connect with them on Social Media
 Ask for referrals

Would you be one
of them?

Stay in Touch
Simple gestures are a great way to show a customer you care.
Here are several ways to continue your relationship and increase the likelihood of referrals and future
business with your customers.
Bottom line
Generate repeat Business

Home Buyers Have Changed. Have you?

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