While we always love to see a sale close with a happy buyer and seller, the term “closed transactions” is not necessarily the best way to describe a finalized sale. The words “closed transactions” or “solds”are real estate expressions which we use all the time, but these terms don’t always communicate effectively with the consumer. We understand what we mean, but these words can go in one ear and out the other of buyers and sellers.
Instead, try the term, “Real Buyers.” For example, when talking about the number of properties sold in a particular price range, you might say, “In the last 60 days there have only been 18 “Real Buyers” in the $700,000 to $750,000 price point. That’s just nine “Real Buyers” per month. And by the way, I’m defining a “Real Buyer” as someone who not only contracted to purchase a home, he or she showed up at closing and walked away owning it!” Not only is this quickly understood, it is also a quick dose of reality for prospective sellers who often think there is a buyer on every corner for their luxury homes.
The use of the term “Real Buyers” is also powerful when negotiating on behalf of a buyer. Imagine being able to say to the party negotiating across the table, “You know in the last 60 days in this price range, there have only been 18 “Real Buyers”, or nine Real Buyers per month. And, I’m defining a “Real Buyer” as someone who not only contracted to purchase the home, he or she showed up at closing and walked away owning it. My buyer is qualified and offering reasonable terms and conditions, doesn’t it make sense to give serious consideration to this buyer? Only 18 Real Buyers in the last two months, that’s not many. Don’t let this one get away.”
Instead, try the term, “Real Buyers.” For example, when talking about the number of properties sold in a particular price range, you might say, “In the last 60 days there have only been 18 “Real Buyers” in the $700,000 to $750,000 price point. That’s just nine “Real Buyers” per month. And by the way, I’m defining a “Real Buyer” as someone who not only contracted to purchase a home, he or she showed up at closing and walked away owning it!” Not only is this quickly understood, it is also a quick dose of reality for prospective sellers who often think there is a buyer on every corner for their luxury homes.
The use of the term “Real Buyers” is also powerful when negotiating on behalf of a buyer. Imagine being able to say to the party negotiating across the table, “You know in the last 60 days in this price range, there have only been 18 “Real Buyers”, or nine Real Buyers per month. And, I’m defining a “Real Buyer” as someone who not only contracted to purchase the home, he or she showed up at closing and walked away owning it. My buyer is qualified and offering reasonable terms and conditions, doesn’t it make sense to give serious consideration to this buyer? Only 18 Real Buyers in the last two months, that’s not many. Don’t let this one get away.”
