There is no denying buyers have become more savvy and thanks to the internet, they are more educated than they’ve ever been. What this means is that agents need to be able to handle buyers who are really on the ball with buying and making offers.
One of the common things savvy buyers will say is, “Let me know if another offer comes in”. There are many reasons as to why they will say this. Perhaps they are genuinely interested but not yet interested enough to make an offer there and then. They may also want to continue looking to see if something better comes up, or they are not quite ready to put pen to paper due to a financial or circumstantial reason. Buyers are well within their rights to do this and it doesn’t mean they are not interested; it may just mean that they need a little more time to do their own research or gather their thoughts.
This is a great opportunity for you to build further trust with the buyer. Once they know, like, and trust you, they will open up a bit more with you. I’ve created a short script below that will help you build that relationship.
Script for building trust with a buyer who has asked to be notified of other offers:
Agent – Absolutely, I would be very happy to stay in touch and let you know if another offer comes in, however, do you mind if I ask why you are not able to make a decision sooner?”
Buyer – [reason as to why they are unwilling to put in an offer]
Agent – No problem. If I get an offer, I will let you know, in fact, I will go one better. I will give you a report after each week if I do not get an offer and give you a report on how we are going and if there has been any price changes or alterations to the contract, would that be of value to you?
You could gently plant the seed by telling them that the earlier they decide will result in having less competition. This is due to avoiding the competitive environment as opposed to having to compete with other buyers when another offer inevitably comes in.
However, it’s no problem if they still choose not to make an offer, it can actually be of great benefit to you. If a new buyer presents themselves and asks if you’ve had any other offers, you can confidently answer with “Yes, we are actually discussing an offer with a buyer at the moment, so if you are interested, I’d recommend you jump in”.
This now gives you the opportunity to build a relationship with the new buyer and build trust. When the trust is built, the buyer will divulge with you information about their circumstances, allowing you to better serve their needs and get an offer from them.
Call it an open invitation to build trust and create a client for life. It’s a win, win situation!
For more great scripts and systems, or to learn more about the Law of Reciprocity and how it’s a sure-fire way of building a trusting relationship, make sure you register for the next Real Estate Brilliance seminar in your city.