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There is no "magic number" -- if I have a serious relo client that absolutely is going to buy a place in X days becuase that is what is expected of their employer and I show them 40 houses over the course of 5 or so days that can be dizzying but it works out fine with the right buyer.
At then other end I have had buyers call me to see maybe five houses over the course of eight years and that is bigger wasted of time if they inssist on making ridiculous offers that no sane buyer would accept....
I would say that on average the "time costs" for assisting a buyer has to average out to something over $15/hrs to make buying for MLS and brokerage costs. It's not how many showings you you do but how many closing. It is entirely possible to end up like a "professor of poker" and play every hand exactly correctly but end up with a bad had every time and make no money. So too are there "dumb but lucky" poker players that play the hand EXACTLY wrong but still take a bunch of jackpots.
Same with realmestste agents -- you "luck into" some buyer that just shows up, wants to buy an expensive property after seeing exactly ONE and you make more on one deal than you did the previous two years. At the other end you work you tail off, prequalify buyers, use the MLS and online tools to screen down the options to a perfect mix and the places don't appraise out, you get some lunatic "whoa this is trouble" inspector scaring the wits out of buyers, or the lender changes rules in midstream...
Of course the folks that perennially show up at the World Series of Poker tend to be more the type that know how to manage the pot and their hands, just like agents that make solid money tend to develop the "people sense" to know which buyers are LIKELY to be worth investing and which are not..
For me it would depend on the type of buyer and how many they can handle in one day before their eyes glaze over. House sold? we have to do some hard looking. Not ready to buy for a few months? a bit less hard looking, drive thru areas, look at maybe 5 or 6 every once in awhile until they are ready to contract.
Some experienced buyers can size up a house simply from the street, so I would drive them through neighborhoods on the first day, tour of the area etc. to get reactions. Then do some hard looking maybe 10 or 12 homes a day after asking if they can handle that many and figure 15 mins. inside each house. Then we narrow it down to maybe 2, and go back inside each. I also worked with many relocating corporate buyers. The smart companies sent out the wife first ... and we would be on the hunt for 2 or 3 days or as many days as it took to cover the neighborhoods. Wife would narrow it down, then comes hubby on a long weekend --concentrate on what wife likes and if anything has come up new. Save Monday or a weekday for contracts.
(In hot markets, I've actually sold a few to investors right from the street, subject to buyer viewing within x amount of hours. Investors usually look quick and can decide without hesitation.)
I always like to try to see a picture of where they are living "now", you get a frame of reference for what they like, style, upkeep, size, etc.; ask them what they want in the next house they don't have, and take it from there.
Some folks want to see everything, write down details, analyze everything, take photos etc. etc. These are the slow lookers or first time buyers, and take more time. 7, or 8 at the most, a day is all most average buyers can handle, also depending how far you have to travel between showings and whether or not they need to eat in between.
Almost forgot: if they bring the inlaws and the outlaws, cut those numbers in half. !
A VERY few times - 1
Sometimes - 3-7
Most times - about 15 - 25
Sometimes - high 20's - 40
Low end - over 40
Lower end homes are usually not in good shape and it takes quite a few to even find a possible.
I actually like looking at homes, but admit to losing interest beyond 40. When it's less than 3, it feels premature, but you can't argue with someone who feels like they have walked into "THE" home.
Usually I start with 6 homes. After those first 6, I have a good feeling for what my buyers are looking for and may know where I can find it! I show those buyers another 6 homes. I think that is my average buyer...12 homes.
Of course, I have had buyers that want to buy the first home they see, especially if they are from an area that has more expensive housing than we have in the Raleigh area.
If my buyers don't find the home they want in those first 12, another 6 or 12 homes should do it. I say that because we have a huge inventory of homes and if buyers help me by telling me what they like and don't like in those first 6, it really helps me narrow down.
I don't think I've ever shown a buyer more than 30 homes.
I am in a mostly second home resort market. I have had buyers buy on their first time out! I had one buyer who was pretty regular, we went out a couple of times a month for a good 2 years. He bought from me. I also had a primary home buyer who called me to see a home at lunch time, then please show it to the husband on his way home from work, then can you please show it to both of us together. They ended up walking into an open house and buying from the agent there. What really riled me was that he was in commissioned sales, too, so you'd think he'd have had a little consideration.
I worked with an out of state buyer for two whole summers, their shopping list was very specific up to about $25Ok for a summer home. We bonded nicely and kept in touch over the winters; no problems. Can't tell you how many homes we looked at, even homes that were not listed yet but would be my listings if they were interested. The hubby pulled out a Merrill Lynch Asset balance printout one day at lunch to impress me.
Anyhow, they answered an ad in the local free paper and bought an older doublewide set the wrong way on an overgrown city lot for around $100K from a FSBO. !!! and had the nerve to call me all happy about it.
Well, I couldn't resist; sent them a bill for my time, gas, meals, missed opportunities with other buyers and general aggravation. LOL ! and I'm so happy I did. Some people are totally clueless not to mention ignorant. Of course, they threw the "bill" away, but they won't ever forget the message. (And that was before we smartened up and eventually the reason for Exclusive Buyer's Agency Agreements ! )
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