The Winning Buyer Resume

Reblogger Lenn Harley
Real Estate Agent with Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate 303829;0225082372

BUYERS HAVE A "COMFORT LEVEL" when deciding on a price range for homes to buy.

AGENTS HAVE A "COMFORT LEVEL" when working with home buyers.

Since we rarely, almost never, ask for retainer fees, we have to rely on our instincts to determine whether or not a buyer is a good investment.

INVESTMENT??  You bet.  We're investing our time in individuals who may, up to the day you meet, usually perfect strangers.

We not only want financial information, but we need to know the buyer's motivation for purchase. 

An open, honest relationship is condusive to a successful home buying experience, for the agent AND the buyer.

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Original content by Jeff Dowler CRS CalBRE Lic #01490977

The Winning Buyer Resume

 

Those who know me well are aware I come from a background in corporate Human Resources, about 16 years give or take. Of the many roles I played as an HR exec was helping companies hire the right people for key jobs.

 

Not an easy task.

 

Writing a good resume CAN drive you crazyA key part of the hiring process is reviewing resumes (i.e., skills, experience) of qualified candidates, or those who feel they are. In my HR career I saw tens of thousands!

 

A good resume is a work of art, and consultants make plenty of money helping potential employees craft resumes that capture the best of their experience and grab the attention of would-be employers. While there may be other ways to get in the door for an interview, passing muster with a stand-out resume (and of course the experience behind it) is essential. Good HR people know how to screen in, or out, candidates whose resumes don’t fit the bill for the job.

 

Perhaps we ought to do the same for hiring buyer clients.

 

So what would a winning buyer resume look like?

 

Like any GOOD resume, you would need accurate contact information (it must be legit, otherwise how else do you get in touch?), and an objective that make sense and is realistic (who wants to hire someone who can’t decide what they want, or who wants to be the Director of ____ but has the skills and experience of an entry-level employee? Same for unrealistic buyers).

 

Objective: Pre-approved buyer with 20% down conventional mortgage and proof of funds for closing costs wants to purchase first home with 3 or more bedrooms for $500K to $600K in the Calavera Hills community. Willing to consider foreclosures and short sales, and will take on cosmetic work including painting, flooring, landscaping and replacing/adding appliances

 

You also want to see a set of skills that will contribute to success in the job, and areas of knowledge.

 

Skills and Knowledge: decisive, problem solver, strong verbal and written communication skills, able to meet strict deadlines, strong computer and Internet skills, works well with others, manages credit well, flexible, knowledgeable about the areas they wish to live in, able to clearly communicate wants and needs

 

A successful buyer hire is like a successful job hireLastly, the prospective employee must have some specific experience gleaned from 1 or more jobs that is relevant to the position s/he is applying for. Big gaps in employment raise red flags, as do lack of detail and specific information. In this economy many seeking a new job are not currently working and that may be OK for a prospective employer, depending on time frame

 

That’s probably not so for a home buyer, unless they have plenty of cash, a trust fund, or a family member who is providing the funds. I don’t know of a bank that will loan money to someone who cannot verify current employment. And buyers will also have to verify either home ownership information including financials, or proof of their rental situation.

 

A key component in hiring is checking references to verify some of what the candidate you want to hire has said.

 

Can we do this with buyers? Sure.

 

Money is important - for buyers and job candidatesThat pre-approval letter and a conversation with their lender will help. Some pointed questions about living circumstances and related information is reassuring. Meeting buyers face-to-face before starting the process help to cement a relationship, or not, verify some information again, and so on. And a Google search can help verify that they are who they say they are and where they work. We know potential clients check us out, as they should and we should do the same.

  

Employees typically want to be successful in their jobs. I imagine most buyers do too!

 

If they have the skills, knowledge and qualifications they can be, with our help to educate, coach, counsel and assist them in solving problems.

 

Make sense?

 

My Jeff Dowler signature

 

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Rainmaker
1,423,802
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Short Sale - CDPE, REDS

  An honest perspective full of information will help both the buyer and the agent be guided to the best possible house to choose to call home.

Aug 12, 2012 05:37 AM #1
Rainmaker
1,251,919
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

Interesting perspective on both posts!  I wonder, when will agents be requiring these resumes?  I guess everyone should have one already in their files?

Aug 12, 2012 05:39 AM #2
Rainer
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Kathleen M. Feeney
Cafe Realty - Katonah, NY
Mt. Kisco Real Estate - EcoBroker

 Great post -Simply put and beautiful :)

Aug 12, 2012 05:49 AM #3
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Debbie Reynolds
Prudential PenFed Realty, "The Real Debbie Reynolds" Your Clarksville Real Estate Professional, 931-920-6730 - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Lenn, It is not always a good fit between buyer and broker. So you have to use your instincts and your head to decide whether to pursue that business.

Aug 12, 2012 06:06 AM #4
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Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

Love the whole concept.  Of course we never ask for formal resumes from our buyers; however, during the first, second and third meeting those buyers are being interviewed and they just don't know it lol :)!

Aug 12, 2012 07:07 AM #5
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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Sally and David.  We can't do a good job in the dark.

Jay.  I have no interest in resumes.  I do, however require financial info early on.

Kathy.  Jeff is very good.

Debbie.  Indeed.  Communication is essential.

Brenda.  BINGO!!

Aug 12, 2012 12:57 PM #6
Rainmaker
1,251,919
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

I know.   ;>)

Aug 12, 2012 03:08 PM #7
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Jeff Dowler CRS
Solutions Real Estate - Carlsbad, CA
Carlsbad CA Homes for Sale (760) 840-1360

Thanks for sharing this, Lenn and for the added perspective.

A good recruiter/HR professional uses their instincts as well as knowledge and experience gained over the years from thousands of candidate. A good agent does the same.

Aug 12, 2012 04:38 PM #8
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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Jeff.  I am of the opinion that my professional experience prior to joining the real estate industry gave me a foundation to better practice real estate brokerage.

Sounds like you have the same experience.

Aug 12, 2012 04:54 PM #9
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Tammie White
Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net - Franklin, TN
Franklin TN, South of Nashville

Lenn, sometimes everything just doesn't come together on the buyer's resume. I am working with a client now who is financially set. He'll have no problem buying at the $600K price range he is looking in. However, his culture dictates that he offer significantly less than the list price. Even if the home is already priced below market value. Something I didn't know prior to writing an offer.

We have lost two homes already because we are writing offers on short sales and foreclosures where there have been multiple offer situations. Each time I try to impress that our offer needs to be more competitve. Unfortunately, he is always adamant about his price. At this rate, I'm not sure we'll ever be able to be successful.

Aug 13, 2012 08:09 AM #10
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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Tammie.  We deal with the same problem.  Many times is IS a cultural drive to "negotiate" even though that doesn't drive our prices at all.

Sometimes our agents simply get worn out from making offers and getting out bid. 

What I've found helpful, if it can be managed is to convince the buyer that they're not bidding against the SELLER, but that they are actually bidding against OTHER BUYERS.

Sometimes it works.  Sometimes. 

Aug 13, 2012 08:21 AM #11
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Lenn Harley

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