Buyer Loyalty Takes Effort

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LOYAL Tiger Fans

Loyalty. We see it all over sports. Denver has people who bleed orange and blue. I haven’t lived in Detroit for close to 40 years yet remain a Red Wing and Tiger fan. And Chicago Cub fans? Yikes. There is some loyalty.

Anywhere I teach, real estate agents share a common obstacle they face when working with buyers… LOYALTY! They say there is no problem getting sellers to be loyal, but those buyers… they are tougher.

My answer is always the same: Maybe you should treat your buyers more like you treat your sellers. Our sellers are loyal because we lavish attention upon them. We send them info in advance, counsel with them, and present to them.

The reward is that we get to place our sign with our name, number and high school graduation picture in their yard: the ultimate gesture of loyalty. While I have yet to get a buyer to wear a sign with my pertinent information displayed prominently, I do have a five step method to obtain loyalty.

  1. In his book What Client’s Love, Harry Beckwith concludes that the thing clients love more than anything else is being comfortable. So, make them comfortable. Understand who they are, what they’re like and make them comfortable.
  2. Deliver home buyers information prior to your meeting with them. Whether you do this in person, by courier or FedEx, email or download, people enjoy being able to study up before making major decisions
  3. Do a complete, probing consultation session. Ask open ended questions, listen carefully and focus on their wants and needs while be completely in the moment.
  4. Do a presentation. Let them know the benefits of working with you and how YOU can meet their needs more effectively than anyone else.
  5. Finally, be enthusiastic. Get excited about that opportunity to help someone achieve one of the biggest dreams we have: owning a home. And whether it’s their first, tenth or a fix and flip – they’ll find your excitement for them and their purchase, a positive thing.

I know you’ve heard that buyers are liars. Well, check that attitude at the door. Buyers are half of every transaction, one of the most important components of the real estate business and will be as loyal as sellers, if you’d just roll out the royal seller treatment.

To me, it’s simple: want your buyers to be more loyal (like your sellers)? Treat them the same!