One of my good friends told me about this incredible strategy that she's using with her buyers.
One thing that happens with buyers is when they come in, we tend to walk them through a conversation that has to deal with criteria. We qualify 'em of course, and we start talking about criteria.
And for instance, when we talk about criteria, here's an example of what we might say, "Well, what are you looking for? Are you looking for a three bedroom, two bath? How much square feet, what area of town?" And then ultimately we get to, "and what price range are you in?" And how did you arrive at that price range?"
We always come down to the price range.
Then they got prequalified with the lender, whatever, and then we try to fit round pegs and square holes.
So we look into the market and start telling the client about why they can't afford to be where they want or why they're gonna have to adjust their budget.
That's a hard conversation to have. And a lot of buyers resist it and they think I'm just gonna go find an agent who can get it done.
Instead of going around and telling people what's happening. Why don't we show them?
The "Show, Not Tell" Strategy.
Here's how you use it:
You do the same process and you ask them the criteria:
* How many bedrooms?
* How many bathrooms?
* How many square feet?
* What school district?
* What area of town?
But you don't ask the price question. Instead, you say, "Okay, great. Let's take a look at what prices are going for in that market area. Just to see if it'll fit in your budget."
Now I'm gonna on the MLS report, but leave off the price criteria and let the system spit out to me what prices are in that neighborhood.
And it will show me, you know, there's 600,000, there're 500,000. Here's a list of everything that's coming to the market recently. Here's the list of everything that's sold and there's pending.
So the buyer's gonna get a quick, quick education on what's happening in that market area.
Now, if they can't afford that market, they've got an option. They can change their criteria. They can go down in square footage. Or go back to their lender and see if they can get qualification upgraded so they can afford this area. They can change their search area and go to a different school district or a different neighborhood.
Then we can get into talking about what we can do strategy wise to get them adjust. I thought that was such a brilliant strategy. I would love to see everybody using it because it's consultative, right? It's walking through people through the reality of the market.
We're not the market. The market is the market. We're just reflecting what's happening.
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