To Buy or Not to Buy: Identifying Committed Homebuyers

When selling a home, there are going to be a lot of people coming and going and checking out the property. As a real estate agent, it’s your job to be able to distinguish between a viewer with intent and a run-of-the-mill looky-loo. Your success in negotiation is going be planted firmly in your ability to read the homebuyer.
According to Intelligent Insurer, ‘keeping your cards close to your chest’ is one of the first things that gets coached to anyone entering negotiations. While entering an open house is not quite negotiation, there is still a lot of nonverbal volleying that will take place between you and the attendee in order to gauge their readiness and commitment levels.
Let’s take a closer look at some typical indicators of whether or not someone is actually interested in buying the home or not.
They Make “Possessive” Comments
A would-be buyer who has serious intent in the home will begin communicating this on the first visit. For example, they might be talking about how their chaise lounge will be positioned in the living room, or that they know just the painting to hang over the fireplace— implying that they already bought the place and moved in. Unless they are just very detached from reality, someone who heads into a deep fantasy imagining where their belongings will fit into the new space has already moved into the place in their mind.
They Have an Agent with Them
If a buyer doesn’t have a real estate agent yet, it is a good sign that they aren’t quite serious. Someone who is committed and ready to make a deal on the right home is going to come prepared and armed with an agent of their own. To put this into perspective, consider this: according to the National Association of Realtors, 88 percent of of buyers who recently purchased a home, did so through a real estate agent or broker.
They Are Pre-Approved for a Loan
Unless they are privately wealthy, chances are that the average homebuyer is going to need a mortgage loan before they can make an offer on a home. Many real estate agents won’t even take the time of day to show a home to anyone who isn’t pre-approved for a loan. Getting pre-approved for a mortgage loan is pretty hefty process that involves gathering essential documents, like: tax returns, W-2s, pay stubs, proof of additional income (alimony, commission, etc.), proof of assets, documentation of debt, employer’s contact information, driver’s license, social security. Having gone through such a lengthy vetting process shows home seller’s that the person is serious and ready to actually move on the right home.
They Take Their Time
A buyer who zips in and out of the home while checking a property isn’t likely to go the distance with you. If they are rushing through the home, it’s a sign of lack of interest. Someone who is serious with their intent to purchase will take their time to inspect the bones of the house. They make sure that all of the lights work, the water pressure suits them and that there are no electrical issues. A person who is seriously invested in a home will take the time to get to know the house as intimately as the owner.
It’s your job to be able to weed through these people and find the right for buyers for your clients. If you use a CRM, lead generation for real estate can be managed all in one simple platform. You can keep track of an entire database of new leads and old clients and make sure that you can direct people where they need to be to the best of your ability.