WHEN SHOULD A BUYER MAKE AN OFFER??. . . .GOOD GRIEF. . . WHEN YOU'VE HELPED THEM FIND THE HOME THEY LIKE! . . . . Chapter 1.

WHEN SHOULD A BUYER MAKE AN OFFER??. . . .GOOD GRIEF. . . WHEN YOU'VE HELPED THEM FIND THE HOME THEY LIKE! . . . .  Chapter 1. 

HELPING HOME BUYERS BUY THE HOUSE THEY WANT ISN'T BEING PUSHY.  

This article was inspired by Gary Swanson's post of yesterday about getting the offer written.  Gary's message was clear and Gary asks the critical question: - -  "Are you asking them to buy?"

I believe that newer agents can benefit from the experience of agents who have been "in the trenches" for many years.  Experience will help you be prepared to ask and help you know when to ask.  If you are new to the business of real estate brokerage, less than 3 years or 5-10 transactions, working with buyers and sellers, you may benefit from the experience of agents who have learned how to get to the closing table. 

WHEN A CONSUMER CONTACTS YOU BY PHONE OR E-MAIL ABOUT HOMES FOR SALE, IT'S OPPORTUNITY TIME.    You have a lovely web page and you've been posting articles to ActiveRain or your personal blog and folks are not only finding you on the Internet, they are contacting you by phone or e-mail.

STOP FOR A MINUTE:  DON'T INVITE DISAPPOINTMENT, DO THE GROUNDWORK FIRST!

STEP #1.  IS THE CONSUMER READY, WILLING AND ABLE?  Make sure that the home buyer with whom you're discussing touring homes are financially prepared to buy.  Engage potential buyers when you speak with them to determine the location and price range for which they are qualified to buy.  If home buyers contacting Realtors have not been pre-qualified by a mortgage company representative, simply ask a few simple questions to verify their ability to buy.  My question to callers, after reviewing a few home listings in which they have an interest and while determining a good time to tour homes for sale, is, "Have you spoken with a lender about your price range?"  If their answer is "yes", I'm ready to go forward.  Experience has taught me that an affirmative answer to that question means that the buyer is usually ready, willing and able to buy a home.  At that point I'd make the appointment to tour a home they called about or arrange a tour of homes for sale. 

LEARN TO QUALIFY PROSPECTIVE HOME BUYERS.  If their answer is "no", then you need to be able to quickly "do the numbers" to determine their approximate price range.   In my experience, this is not a good time to send a consumer to a loan officer.  That's not why they contacted a Realtor.  My trusty "Qualifier Plus" is right by my computer and phone.  We can run ratios in seconds and zero in on an approximate price range.  Until a Realtor is comfortable qualifying a prospective home buyer, they haven't learned their job.  Qualifying home buyers is taught in Principles of Real Estate Practice and should be practiced until the agent is comfortable performing this vital function.  If the caller wants to see a home that is clearly out of their qualifying price range, you can do so, but only if you need to preview inventory.

SEE:  Qualifying Home Buyers Isn't Rocket Science.  It's our job!

ASK ANOTHER SIMPLE QUESTION.  "HOW'S YOUR CREDIT".  If your conversation with a prospective home buyer indicates that there "might be a problem" with their credit, get them to a trusted loan officer before showing homes.  Having good relationships with responsible loan officers is important.  In my market, offers to buy are accompanied by at least a pre-qualification letter.  Showing homes to consumers with credit issues is not a positive experience for the agent or the consumer, unless the agent just wants to look at some homes for sale. 

YOU DON'T QUALIFY OR CANNOT BUYERS???  You're taking consumers into the private residences of home owners who have offered you an opportunity to show the house they have for sale to qualified buyers.   How many sellers would permit the convenience of keybox access if they knew that agents were showing their property to unqualified consumers??  Sellers and listing agents trust buyers agents to show homes to qualified home buyer consumers.

GOOD NEWS - - - THE BUYER IS READY, WILLING AND ABLE TO BUY!   Schedule a time to preview a home about which the consumer contacted you or to tour homes that you selected based on the buyer's preferred location and qualifying price range. 

Chapter 2.  Preparing for a tour of homes.  Coming soon.

                   

                       

                  "Honey, we have an appointment Saturday to tour that home we found on the Internet"

                  "Great Dear, are you sure we can afford it?"

                  "Yes, the Realtor I called got us pre-qualified.  We're ready."

                  "Wonderful, I really didn't know but I know we want a home of our own."

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.