There you are. You are just about to get a buyer’s signature on a contract or offer to purchase. You are just about to get a seller’s signature on a listing. Then it happens. They say, “We want to think about it and we’ll get back to you”. Many real estate agents stop at that point, say O.K. and walk away. Bad move. When you hear them say “I want to think about it.” You may be seconds away from getting that signature.
Do they really want to “think” about it? Why do your potential buyers and sellers say that? Most of the time it’s because of two reasons. Number 1 is they have issues about the transaction that they don’t feel comfortable discussing with you. Number 2 is they are just suffering from a little buyer’s or seller’s remorse. What do you do? Let’s take #1. We’ll talk about #2 in another newsletter.
If they don’t feel comfortable discussing some things with you try to relax them and explore what it might be. For instance when a buyer says “I want to think about it” agree with them (always tell them you understand) and ask a few questions.
Agent: I understand how you feel. It is a big decision. But to help me give you better service and clarify in my own mind what part exactly do you want to think about? Is it the condition of the home, the neighborhood, the fact that your home hasn’t sold yet, or…..?
Buyer: No, the home’s condition and neighborhood are great but we are concerned about being obligated to a contract to buy another home if we can’t sell ours.
Agent: That is a valid concern (agreeing). If I can solve that problem right now would be willing to move forward or is there anything else concerning you? (Give them 2 choices to answer your question. You are trying to isolate the final objection so make sure this is it)
Buyer: Yes we would but what are you going to do? Buy our house?
Agent: No I’m not going to buy it. We are diligently going to market your property to get it sold quickly, but I am going to add this to our contract. “This contract for sale, offer to purchase is contingent on the successful closing of the buyer’s property located at……….” Problem solved.
(Hand them the pen or send for e-signature from your device) “Just give me your OK at the bottom of the form right here.”
Remember, you may be seconds away from getting a signature when you hear “We want to think about it.”