How to Stop Wasting Your Time with Buyers
Summary
It’s very easy for new and seasoned agents to fall into the trap of wasting time with buyers because buyer leads are easier to get.
Buyers are easy to get but harder to win and get to closing.
Why do you want to stop working with buyers?
Buyers don’t give you leverage. On the other hand, when you have a listing, you have inventory. Buyers come to you because you have what they want.
Buyers take more time than a motivated seller. They control your time. They’re available only on weekends, evenings
Buyers are more likely to break your heart. They’ll go look at houses with you, and then end up with another agent.
More and more buyers search online and go straight to the listing agent.
How do you master getting listings and working with sellers?
Develop skills, systems, and strategies on how to find motivated sellers, inspire them to hire you, and sell their house for top dollar.
If you’re frustrated with buyers and want to have long-term success, time and income control from working with sellers, join me for a brand new training called Agent Mastery Live. For 3 days, we’ll train you on the skills, strategies, and systems to build a successful listing-based business.
Go to agentmasterylive.com/2020 to learn more.
Full transcript
Buyer leads are easier to get, but they’re much harder to win.
It’s very easy as a new agent to fall into the trap of wasting way too much time with buyers. Now, let’s face it, how many of you, when you got in real estate, found yourself in the first year spending way, way, way, way more time with buyers than you did with sellers? More time showing houses than listing houses? It’s a pretty natural thing to happen, because a lot of us, when we get our real estate license, we relate more to the buying side of houses. We relate more as new agents to looking at houses, as a buyer going and looking at houses, or going to open houses, because most people have done that, and a lot of us don’t relate to that we go and we’re the ones that put the house on the market and we’re the ones that sell the house.
And so a lot of new agents, and unfortunately a lot of seasoned agents, find themselves working with buyers way too much of the time, or even worse and more common is working with a lot of non-buyers who are pretending to be buyers or they’re future buyers or they’re going to buy someday or they may buy, and we get our time sucked into buyer, buyer, buyer, and then they get a reputation of buyers are liars, because they break our hearts and all of that. Now, why does that happen and then how do we stop that from happening? Well, we waste too much time with buyers, because buyers are easier to get. The number one reason that people spend too much time with buyers is buyers are easier. They’re easier to find, they’re easier to come to you. If you look at almost every real estate agent website out there, who is it targeted toward? It’s targeted toward a buyer. Start your search for your home right here. Go here, find homes, search the MLS. All of that.
Most of the average agent’s lead generation strategy is to find buyers. We do open houses. What are we looking for? Buyers. When you’re a new agent, you have an agent that’s got listings, you go do an open house for them. You’re looking for buyers. People that call in or people that come in, it’s easier to get internet leads that are buyers. You get Zillow leads. Most of them are going to be buyers. Buyer leads are easier to get, but they’re much harder to win. They’re much harder to get to the closing table. They take more time, they’re more time intensive, they’re harder to control, they’re less loyal, and they can break your heart. Because here’s the thing, buyers are happy to waste your time, because they like looking at houses. They like when I’m looking at all these houses and the more houses you show them, the happier they are, and the less they are a seriously motivated buyer.
So why do you want to stop wasting time with buyers? Number one, because buyers give you no leverage. You work with a buyer, all you’ve got is a buyer. You get no leverage from that. On the other hand, when you have a listing, you have leverage, because now you have the inventory. You have what the buyers want, so the buyers literally come to you. So buyers give you no leverage. Another thing is buyers tend to take more time than a seller. A motivated seller takes a lot less time than a motivated buyer, or especially more time than an unmotivated buyer. Buyers tend to, well, they’ll take time, they control your time, they’re only available on weekends, or they’re only available in the evenings, or they can infiltrate into your life very, very quickly.
Number three, third reason you want to stop wasting your time with buyers is because buyers are more likely to break your heart. They’re going to go out and look at houses with you, take your time. This is awesome. Thank you so much. And then they’re out one weekend, they see an open house, they go in there, a good agent suckers them in, or they go out and look at a new house, new construction, and the salesperson’s there and goes like, “Well, we can help you get this.” And some of those builders have policies that if you didn’t actually bring them, then they’re not going to pay commission. There’s so many ways that a buyer can break your heart.
And the fourth reason that you don’t want to waste your time with buyers is because buyers more and more are going straight to the listing agent, and that my friends, that trend is going to continue, because you used to, back in the day, back in the 1900s, back before the MLS and the internet and all of that, if a buyer wanted to find out about all the houses on the market, they needed, how did they find them? Well, the best way was to go directly to an agent because the agent had access to a secret restricted list of homes on the market. All the homes on the market were in a multiple listing service that was the exclusive property and exclusively accessed by a licensed realtor. That was it. So if they wanted to find out about all the houses on the market without having to just drive around or open up the newspaper and look at 50 houses, and most of them were different price points in different areas, they didn’t fit what they were looking for. If they wanted an agent as somebody that could help them find the houses that fit their criteria so they’re not wasting their time, they needed a realtor.
They don’t need a realtor anymore. What do they need? This. They pick up their cell phone, they can be driving around, oh there’s a house for sale. Let’s find out about it. Well, it used to be they’d call you. Now they don’t even need to do that. They just open their app. They opened their realtor.com app or their Zillow app or their Redfin app, and there it is. There’s a whole list and a map of all the houses right there for them. They don’t need you. And so a lot of times they’re like, we’ll find our own house, which they can do easily on the internet. And then we’ll go directly to the listing agent, because our chances of getting this deal are better if we go directly to the listing agent, because that agent is going to get both sides of the commission.
And so more and more agents, and especially in low inventory markets, more and more buyers go directly to the listing agent, and you, my friend, are left out in the cold. Not to mention, there’s a major class action lawsuit about buyer’s agents’ commission, being required that sellers be the ones to pay that commission, and we don’t know what’s going to happen on that yet, but it’s a serious threat to the way buyer agency has been done.
What do you want to do? You want to master getting listings. You want to master working with sellers, because they give you leverage, they give you time control, they give you income control, they cause buyers to come to you. You find motivated sellers, and you’ve got something. So here’s how to stop wasting your time with buyers. Learn how to find motivated sellers and learn how to inspire them to hire you and how to sell their house. That, my friend, is the magic, 100%, and I’m going to tell you one of the things that I did right and it was not because I was so smart, I just happened to get the right trainer when I first started real estate, was I had a broker that said listings are the name of the game. You want to make money, you want to have time control, you want be able to take weekends off, you’ve got to have sellers, you get listings, and you will win. And so I like, okay. And I believed that, and I followed that, and it worked great for me.
Now why is it easier to do buyers than sellers? Well, because if you want to work with sellers, it requires a higher level of skill, okay? Buyers, it doesn’t take much skill. Can you open a door and can you let them look at the house and be friendly and answer questions and help them write an offer? Not a lot of skill. How do you stop wasting time with buyers and start winning with sellers? Number one, you’ve got to develop skills. Number two, you’ve got to have the right strategies for lead generation, lead conversion, and then actually selling the listing, and to do all of that you also have to have systems, and that is why most agents and especially most newer agents spend more of their time working with buyers than they do with sellers, and there’s actually a very few agents that ever master listing and selling a lot of houses.
But that, my friend, is where the longevity, the longterm success, business control, income control, and time control comes from, is stop wasting your time with buyers. How do I do that? By learning the skills, the strategies, and the systems to find and generate motivated seller leads, convert those leads into appointments, inspire those sellers to hire you, and then learn how to sell their properties for top dollar and you get to make a whole lot more money with a whole lot less frustration and a whole lot less time spent.
Now if you are watching this video and you’re going like, oh, this is me, I’m so frustrated with all the time I’ve wasted with buyers. How do I do this? Well, I want to invite you to come join me for our brand new training camp training event for 2020 called Agent Mastery Live, where for three days we’re going to train you on how to master finding and winning motivated sellers. For three days, we’re going to teach you the systems, the skills, the strategies of how do I find motivated sellers, get an appointment with them, and get the listing and be able to sell that listing for top dollar.
It is going to be a game changer for you if you have found yourself stuck in that rut, stuck in that place, ah, these buyers are driving me crazy. And mastering listings, mastering working with sellers, is absolutely the ticket to having more control of your time, more control of your income, making more money, having more fun. This is the ticket. So get your ticket to Agent Mastery Live, link’s in the description below. Go down and click that link, get your ticket, and I will look forward to seeing you at Agent Mastery Live. It’s going to be awesome. Come join me, three days. It’ll change your life.