Understanding the Sales Process for Buyers
It often takes a Buyer NINE months to buy a home! From the time the Buyer decides he or she wants to start to looking for a new home all the way to closing is a 9 month sales process. According to the NAR Profile of Home Buyers & Sellers, a Buyer seeks out an agent approximately 12 weeks or 3 months before they buy. So, what are these Buyers doing for that 6 month period in between? They’re self educating! Much like a car buyer, home buyers are taking the time beforehand to shop online and research their options even before they step into the dealership or a real estate office.
It is important to understand how Buyers go through this sales process and recognize the signs. When a new potential Buyer walks into your open house, invite them in and then BACK OFF! If they haven’t called you or sought you out, they are likely still in the 6 month “I-want-to-remain-anonymous” phase. Look for their buying signals! Once a Buyer is ready, they will get your attention and let you know. During their search phase, you want to be a provider and source of information for the buyer. Have a great blog and a great website and Buyers will seek you out.