Buying property can be a highly emotive process for those looking to purchase their first or next home.
Some buyers will experience bouts of nerves, while others may be unwavering in their list of property requirements.
These emotions are understandable as the purchase is hundreds of thousands – or even millions – of dollars.
Given the significance of purchasing property, most real estate agents will find themselves working with difficult buyers at some stage throughout their career.
Fortunately, there are several simple ways to identify and help a difficult buyer with their purchase.
How to identify a potentially difficult buyer
An experienced real estate agent can usually spot a buyer who may require more assistance than others. Here are some easy ways to identify a potentially difficult buyer:
- Bargain hunters often make multiple offers on numerous properties in the hope that one out of five may be accepted. They will often come in with low-ball offers under the assumption that every vendor is looking for a quick sale.
- Do you have a buyer who opens every cupboard door, turns on all appliances or generally lets their children run amok? If so, you may be dealing with a disrespectful buyer.
- In the real estate industry, you might encounter time wasters. These are the people who may refuse to put an offer on paper, may be unwilling to answer questions about what they are looking for in a property, or may be the next-door neighbour checking out the property with thoughts of putting their own on the market.
- A buyer offering unrealistic deadlines is likely to be challenging. This buyer may give an offer with a deadline of 5pm on Sunday afternoon, after viewing the property at midday.
Top tips to deal with a difficult buyer
Rather than wishing for the client to be different, it’s important to properly understand their queries and concerns. Buying property can be a life-defining moment so try to put yourself in their shoes.
- Take the time to listen to a potential buyer, even if they are being difficult with their requests. The buyer may have legitimate concerns about a property or could have experienced significant issues with a previous purchase. By simply listening and asking questions, you’ll be able to better understand their wants and needs.
- Get everything in writing. If you have a bargain hunter, an investor who is only looking at the figures or someone who wants to make strict deadlines on the vendor, ask that they put their offer in writing and provide the deposit. This will help to attract serious buyers as opposed to those who are simply looking.
- Approach the buyer directly. If a buyer is behaving in a disrespectful way, simply approach them. They may not understand the etiquette expected during an inspection or could simply be nervous about the process. If you’re nervous about approaching the client, it can help to have another staff member with you.
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