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Old 08-20-2008, 11:24 PM
 
Location: Barrington
20,027 posts, read 14,400,856 times
Reputation: 6205

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Quote:
Originally Posted by Brandon Hoffman View Post
I think part of that depends on the Realtor skill. Most (not all) buy one of the first 5 homes I show them. Before we go out we usually spend an hour in the office going over paperwork and needs/desires in a home. Then I print all the homes that fit those needs, they pick top 5 and we go looking. I've never had a buyer (not counting relocations) look at more than about 15 homes and I think that comes down to the fact I listen to the buyer and let the buyer pick the homes w/o any pressure on my end.
This is, for me, the fun part, playing matchmaker. I do my best to nail the buyer ( exclusive of inbound relocation or those unfamilair with the area) in three homes.

I generally limit myself to a single zip code and know the inventory, including FSBO, well.

I spend the time upfront with buyers and if possible do this in their home so I can see how they live, what they like best about it, their furniture, the neighborhood and what they don't like. I need to know why they want what they want and what might prevent them from making an offer should we find a home that meets their needs.

Once I do, I can eliminate many of the homes they saw online because I can tell them why it will not meet their needs. Online marketing rarely focuses on the downside of the house and sometimes there are gems that are not marketed well, that are perfect.

And house #3 is usually the one they buy.

Relo is a different drill and that's a process of elimination. We can see 12-15 in a day and I name each house to trigger a recall. It's all about compelling a buyer to suspend or reject a house and carry no more than 3 possibilities in memory, at any given time.
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Old 08-20-2008, 11:49 PM
 
Location: Virginia Beach, VA
2,124 posts, read 5,755,944 times
Reputation: 755
I agree!! If I do my job, we will not spend days and months looking at houses. We will spend the time up front, with my needs analysis and will narrow down to what you are looking for in your forever home and the few that match those needs the best will float to the top. We will not have to get frustrated looking at house after house that does not even come come close to matching your needs or wants.

So an agent saying we should nail in 5 houses is exactly the agent I would want working with me : )

Shelly
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Old 08-21-2008, 12:29 AM
 
Location: North Burb Chicago
316 posts, read 1,982,663 times
Reputation: 227
Great thread here!

Question to realtors...

When a buyer looks at more than X homes, does that annoy you?
I'm reading of buyers here looking at 20.. 30... 100+ homes before they found the one they liked. I don't know, if I was realtor, that would drive me up the wall.

Right now I'm looking for a home and my realtor is doing nothing of what some you are doing to help your clients find homes. He pretty much just some up some MLS program that automatically sends me an email of homes on the market. I'd say about half if not more are nothing that we could even consider.
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Old 08-21-2008, 12:35 AM
 
Location: Virginia Beach, VA
2,124 posts, read 5,755,944 times
Reputation: 755
Jedi, I am annoyed at myself if my buyer has to look at that many homes... It means I haven't done my job. but if we did our needs assessment, and the buyer keeps changing it... then we need to have a discussion about what changed. To just go look because "you never know" will just about make me crazy. "yes I do know. You said you wanted a Single Family House, now you are requesting to see a condo in a high rise. You won't like it, it doesn't have a yard!!!" You hired me for my expertise, now lets work together : )

shelly
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Old 08-21-2008, 12:45 AM
 
8,761 posts, read 5,233,237 times
Reputation: 1392
Quote:
Originally Posted by dlh891 View Post
My very first clients looked at 154, yes 154, before making an offer. It took us 5 months.

OMG, you have got to be kidding. I showed one couple about 46 and wanted to pull my hair out by the end. First time buyers seem to want to see everything on the market and I understand to a point, but no house is ever going to be perfect.
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Old 08-21-2008, 06:46 AM
 
Location: OH->FL->NJ
2,741 posts, read 4,098,145 times
Reputation: 918
5? No way.

Id believe 10-15.

154 is crazy.
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Old 08-21-2008, 07:34 AM
 
Location: Willowbrook
4 posts, read 9,795 times
Reputation: 12
Quote:
Originally Posted by doglover29 View Post
We met with a realtor recently, who said that the average number of houses a buyer sees before making an offer is 5. That number seems incredibly low to me. We're probably planning on looking at around 30 houses before deciding on the one we want to buy. What do you think about that number?
Hello stan4, That is the million dollar question! Being a Realtor myself, I have shown as many as 50 homes to a client. Each client has his/her own particular circumstances. I don't place limits on my clients. Having said that and realizing the cost of gas... it is important that the client is serious about purchasing and not just wasting my time. One way of narrowing it down is for the Realtor to have accurate knowledge as to exactly what the client is looking for and then going out to preview if ahead of time. I would dare say that the average homes seen is about 12. If a client has limitations of some sort (handicapp) you might find yourself showing more or previewing.
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Old 08-21-2008, 11:34 AM
 
Location: Columbia, SC
7,033 posts, read 11,161,829 times
Reputation: 3555
Quote:
Originally Posted by Jedi5 View Post
Great thread here!

Question to realtors...

When a buyer looks at more than X homes, does that annoy you?
I'm reading of buyers here looking at 20.. 30... 100+ homes before they found the one they liked. I don't know, if I was realtor, that would drive me up the wall.

Right now I'm looking for a home and my realtor is doing nothing of what some you are doing to help your clients find homes. He pretty much just some up some MLS program that automatically sends me an email of homes on the market. I'd say about half if not more are nothing that we could even consider.
If an agent has to show that many homes, normally I think they aren't doing a good job. If you never sat down and did the what kind of home thing you want then you may want to reconsider some of your choices.

I really feel like if Ie have to go out more than twice to show homes I have not done an adequate job and I limit # homes we look at per trip to 5. More than that they run together for the client. I can usually pick the 2 or 3 they'll consider before they ever even select the top 5 and about 25% of the time I predict what home they'll buy before we actually go look at any homes.

As always, relocations are an exception to all of the above.
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Old 08-21-2008, 01:54 PM
bjh
Status: "Season's greetings." (set 6 hours ago)
 
Location: Memphis - home of the king
20,502 posts, read 12,379,964 times
Reputation: 93525
Quote:
Originally Posted by shellytc View Post
if we did our needs assessment, and the buyer keeps changing it... then we need to have a discussion about what changed. To just go look because "you never know" will just about make me crazy. "yes I do know. You said you wanted a Single Family House, now you are requesting to see a condo in a high rise. You won't like it, it doesn't have a yard!!!" You hired me for my expertise, now lets work together.
Is it possible realtors sometimes encounter "tire kickers?" People who live locally and find the showings interesting and the attention of the realtor some sort of a lift? Seems crazy, but there are some crazy folks out there.
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Old 08-21-2008, 02:36 PM
 
Location: Denver, CO
1,206 posts, read 2,737,226 times
Reputation: 584
When we sold our first house recently we had so many first time buyers look and nit pick about the most inane things like, don't like a particular shade of paint, or don't like the furniture in a room(?!). I know they're first time homebuyers because their agents usually follow up with us and apologize about the comments.

Like someone said we bought our 1st house after looking at 3, and 2nd house after looking at 20. This was dictated by the market inventory at the time.
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