Wednesday, February 01, 2006

Thinking long term to capture buyers and sellers

The majority of real estate agents nationwide still think of a "good lead" as someone who's going to buy or sell in the next 30-6o days, but research again and again has proven that this isn't how consumers think.

Last year, Hebert Research found that consumers spend up to four years thinking about a home purchase or home sale. And when the active thinking begins, it can still take up to 16 months to actually complete the deal.

These buyers and sellers will eventually buy or sell, but they're on their own schedule. Yes, accelerators like relocation or kids can change the schedule, but a "good lead" isn't just someone who's ready to buy or sell right now. Smart agents are building relationships with prospective customers over a long period of time, knowing that a good relationship will mean earning their business when they're ready.