The current state of most housing markets continues to be front-page news for media around the country. It’s no exaggeration to say that if you’re a real estate professional, regardless of your role, you’re being affected by the low inventory, high buyer demand environment that’s being experienced throughout much of the U.S. and Canada.
Yet of all the roles involved in the process, that of the buyer’s agent is perhaps the one that’s experiencing the heaviest burden. With competition from other agents currently at a fever pitch, buyer’s agents have their work cut out for them as they try to stand out.
But ShowingTime is committed to supporting buyer’s agents and in working with them, we’ve received some valuable feedback that we’re eager to share to help others navigate this historically busy season.
Utilize Technology to Streamline Your Workflow
For listings in markets like Denver, which in April 2021 had an average of 25 showings per listing, the average number of days on market can often be counted on one hand. In fact, it’s not uncommon for us to hear from agents who say they’ve seen a listing go on the market on a Friday only for it to go pending the following Monday. Clearly, the current situation makes timeliness a key factor for buyer’s agents and to be timely, they must streamline the way they do business.
As the industry’s leading provider of showing management technology, we’d be remiss to not place this tip at the top of the list. Simply put, technology is an essential part of the way many of the most successful buyer’s agents can excel in a highly competitive market like the one we’re currently experiencing.
If you’ve been hesitant to integrate technology into your current workflow up to this point, now’s the time to put your reticence to rest and consider how you can help your clients win. ShowingTime Appointment Center Plus*, for example, is a tailor-made solution for buyer’s agents that allows them to call one number to schedule multiple showings, removing the need to play phone tag with multiple listing agents to try and find mutually agreeable times for showings. Best of all, because ShowingTime’s appointment specialists are available 24/7/365, buyer’s agents can call to schedule showings on listings right when they become available – a key competitive advantage in this busy market.
According to a recent internal ShowingTime study, 60 percent of calls to our appointment specialists include requests for more than one appointment, with nearly a quarter of calls made taking care of scheduling showings and requesting showing access information. Sometimes it’s just easier for agents to call us.
*Available in select markets
Make Offers Timely, Complete and Directed to the Right Person
With multiple documents and potential contacts involved in each transaction, offer management can be a tricky demand for buyer’s agents, even during times when the market is in their favor. While it may sound obvious, we hear from enough clients about the roadblocks they face during the offer management phase of the process to know that incomplete offers are an unfortunately all-too-common reality they must deal with.
Today, when the timing between when a home is shown and when an offer comes in can be counted in terms of hours, it’s essential that buyer’s agents are prepared to submit offers that are ready for sellers to consider on the first try.
To that end, it’s important that buyer’s agents ensure that offers they submit on behalf of their clients are not only submitted in a timely fashion, but also that they include all pertinent documentation requested by sellers and that they’re being submitted to the appropriate contact. For tips on how to streamline the offer management process, download our free guide, 4 Tips for Mastering Offer Management, by clicking on the image below.
Ensure an Open Line of Communication with Your Clients
With inventory at all-time lows in many markets, buyers are feeling the pressure to make quick decisions as they weigh their options on available listings. In such a situation, time is of the essence, and any miscommunication between a buyer and their agent can be enough to torpedo an otherwise promising chance to close on a home.
Fortunately, diligent buyer’s agents can prevent this scenario from occurring by ensuring they’re on the same page with clients about the process now, before they see a home, to impress upon them the need to stay in regular communication. They should also take the time to go through any of their buyer’s anxieties, answer questions about market conditions and make expectations clear for what they’ll need to do to submit a qualifying offer on a home once they find one that’s to their liking.
For buyer’s agents who use ShowingTime to manage showings, Home by ShowingTime is a must-have app for their buyers. It’s a free tool to help them stay current on all the pertinent details of the listings they view. Best of all, it offers a great way for buyer’s agents to stay in touch with their clients while also saving time. Instead of drafting emails or texts, or playing phone tag, the app enables agents to share listing updates from the ShowingTime interface they’re already using.
There’s no question about it, today’s market presents some unique challenges for buyer’s agents. But with a proactive approach, a little planning and the right tools to streamline the process, they can rest easy knowing they’re giving their clients the best possible chance to secure the home they love.
ShowingTime works with both listing and buyer’s agents to streamline showing management. To learn how you can leverage ShowingTime technology to navigate the busy season stress free, talk to our Sales team and share your business needs by clicking the button below.