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3 keys to managing prospective buyers

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

How many times have you heard this sentiment: The money in real estate is in the listings. It's guaranteed cash at closing. Conversely, we're told, buyers can be brain-drains and time-wasters, spending your money through weekends, gasoline and snacks. I know that personally, I've never gotten over that one lady who accidentally (I hope?) scribbled all over my car's backseat leather interior, having forgotten a ball-point pen in the back of her jeans. But I still believe buyers can be wellsprings of forward momentum in our real estate businesses -- if they are managed correctly. . Here are three key elements to managing a buyer without losing your head: 1. Never start entertaining a buying client without a sit-down meeting at your office or place of business. The meeting must include a complete overview of expectations (both yours and theirs) as well as the signing of the client contract. How often will the client be touring homes? Are they only in town on the weekends, or strictly a...