I think the reason most home buyers who read my ads who don’t call, just think what’s the catch. The general public is blitzed on a daily basis with various come ons and enticements that they tend to breeze right on over the ads.
If I were a home buyer, I would at least make a call to ask some questions. I think that most home buyers in the pre-purchasing stages just don’t want to be bothered by an agent.
Last week, I put a website up on the internet and received over 350 hits from potential buyers. I only received one inquiry as to my “buyer rebate” offer.
Generally speaking, if it sounds to good to be true, it usually is. If I put an ad up that reads “agent will give you 50% of his commission for buying a home” don’t you think “what’s the catch”? I have had buyers that even knew of my offer, go with other agents. When I explained to them later, that they had just thrown away $6,000, they just shrugged their shoulders. I think it comes down to educating the buyer and repeating it about 7 times. In marketing, it says you must at least repeat the same exact message 7 times to the consumer before it sinks in.
I personally think that over 99% of the home buying public isn’t even aware that they can get a rebate by just asking the right agent. Today, I read the selliing stats on my Multiple Listing Service website and it showed over 350 homes pending for the day. I would venture to say most or none received any type of rebate from the selling agent. After doing a little computation based on our areas median selling price, I figured at least $1 million dollars could have been paid in buyer rebates. That is just today!
As a home buyer that has read some of my rebate articles, you should now be armed with enough information on how to ask for a rebate. If you see an advertisement offering a rebate, make the call to that agent and at least ask some questions.
Don’t forget to get your rebate agreement in writting before setting up a working relationship with an agent who does rebates.