A few months ago I wrote about a Realtorâ€™s Expectations of a Seller. Wellâ€¦now letâ€™s take a look at Buyers.Â One of the more challenging aspects of working with Buyers is trying to determine how serious they are, how motivated they are, andÂ how to weedÂ out the â€œlookie looâ€™sâ€ fromÂ real buyers.Â
I get inquiries from so-called â€œbuyersâ€ all the time. Iâ€™ll get a phone call asking about one of my listings, or a lead from our website from someone asking about a specific property, etc.Â I would say that 90% of the time, theÂ buyer is really â€œjust curiousâ€ and not a real buyer.Â
There is also a term in the businessÂ that says â€œBuyers are liars.â€Â Unfortunately, this is very true.Â Â Buyers will say anything to get you to show a house to them. They have great credit. They are not working with any other agents. TheyÂ can get prequalified no problem!Â Iâ€™ve learned to take everything a with a grain of salt.
Unfortunately, this makes it more difficult for the REAL buyers to be taken seriously.Â Â So, please forgive me, Mr. Real Buyer, I would still like for you to talk to a lender to get prequalified before I show that house to you.Â Youâ€™re paying cash and donâ€™t need a loan?Â Thatâ€™s great! I will still need to see proof of funds.Â
1. If you are a serious buyer, then take the job seriously. Donâ€™t just call listing agents, getting them to show their listings to you.Â Hire a Realtor as a Buyerâ€™s Agent.
2. If youâ€™re not ready to commit to one agent yet, thatâ€™s fine. But donâ€™t be offended when a Realtor asks if youâ€™re prequalified. If youâ€™re not prequalified, donâ€™t be embarrassed.Â Just offer to get prequalified.Â Â
3. Since you are essentially a stranger to me, donâ€™t be offended if I ask you lots of questions about yourself and your situation. Iâ€™m just trying to make sure youâ€™re not an axe murderer.
4. Once we get to know each other, and you feel comfortable working with me, would you mind signing a Buyerâ€™s Agency Agreement with me?Â Like an engagement ring, this is a true sign of commitment and a true sign that youâ€™re a serious buyer.