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35 Comments on Can We Look At Homes Now Even Though We Won't Be Ready To Buy Until Next Year?
Hi Erica, Like I mentioned, I will be in consistant contact with them to help them with the process. Right now I know they are far from ready so giving them information on what they will need and how to proceed is the best way to go for them now. Yes, I might lose them...if I don't do anything further. I hope that's not the case.
Hi Karen, I never said in my post that I didn't take the time to talk to them about the process...which of course I did..so not sure where you got that idea. Knowing that you want to buy..and being ABLE to buy are two different things. I want to by a house on the Willamette river for $800,000....but I would not expect an agent to show me these homes if I knew I couldn't afford them. As you know, taking the time to find out where they are in the process BEFORE running out and showing homes is key. After our conversation, she agreed that she was just excited and knew very little about the process. Thats why I was glad she contacted me as I know she will be in good hands. If there is a way to get them into their first home, I would be very happy to be that agent to help them.
Hi Jill, Exactly. In a way we are always taking a chance on whether we are working with someone that's just spinning wheels. I like to think that I've gotten much better at knowing which ones are. I have one now that not only my gut...but everything the buyer is telling me is screaming he won't be able to buy. I also have one that I just mentioned to Tammy from California that I'll be showing property and the areas too when she comes into town. I was out today showing property to a couple that wants to move closer from where they are now and they fell in love with one of the homes. Will they decide to list their own house to sell? Will they decide to move? I don't know...but I do know that she contacted my preferred lender the first day after our first chat....so I know they are at least seriously able to purchase any of the homes I've shown them. Oh..and adding those links were a last minute thought..but figure they related...so a good thing!
Well Cindy, next year is just 3 months away ;-) I agree with you there is no point in house-hunting if there is no budget nor time-frame (I believe next year is also going to have 12 months). Open Houses are an excellent way for future buyers to get a feel about different communities and a better understanding of their needs and wishes. I probably would have suggested a face-to-face but I don't know enough about the situation to know whether or not this would have been a good suggestion in this case. You could touch base with them every few weeks to see where they are at .. and perhaps get their email to send some tips and advice their way.
Hi Andrea, OMGosh....you had to remind me that I need to start Christmas shopping soon! I haven't been to the mall in a while..but they probably already have Santa there! I know this contact personally..and can say with 100% accuracy that they are no where near ready to purchase a home...even in three months. I will keep with them and a face to face is a great idea. Thinking a lunch date would be perfect!
Hi Cindy, That is exactly what open houses are for, right? No really, that was a good solution as I tell buyers that it is way too early to do any serious looking and we need to wait so they won't get disappointed. I do ask they talk with a lender though just so we know they are on track for a future purchase.
Cindy, I don't see a problem with being a source of information for a buyer that states up front that they are a year away from being able to buy. Letting them know that we are there to help is not a bad thing. I've also spent probably better than a year with a buyer that was ready to buy now, but could not make up their mind about what they wanted.
Can I look at your rental because we want to move six months from now? Come on people!
Cindy-I think the counsel you provided them was wise. And your subsequent explanations shows you are on the right path, in my opinion.
Cindy, I am working with a young couple who are first-time buyers. They were actually thinking about buying new construction that will take 6 months to build. We went out one very long day and looked at their options. Now, they are trying to decide if they should consider existing instead. They won't actually have their full downpayment until the Spring but they want to get an idea of what is better for them--new construciton or existing.
I have a signed buyers agreement and did offer to take them out one day to look at existing. I feel this is necessary for them to know if they should move forward with new construction or not. But this isn't something I do with everyone. It just depends on the situation.
Cindy, Next year has no bearing on the market now...but keep in touch with them and when they're ready, you will know what they are looking for in a home.
Cindy - I don't typically show buyers who are looking to buy in a year though there have been times when I've made an exception.
Cindy what a great advises. I have told the buyers they can contact me anytime for questions however knowing their comfort zone is most important part of the home buying.
I would try to establish a relationship through at least one face-to-face meeting. At that time my buyer agents get to know the clients in a way only face time can accomplish.
Then as the client's future situation progresses, my agents have a strong base in which to grow with them.
When they're ready to buy, guess who they call?!
Hi Debbie, They are a good way to see styles of homes in different areas and price ranges. Lenn brought up a good point in her post that sending these buyers to open houses on thier own is not a good thing because there is always the possibility of them working with a agent they like that's holding the open house. There is that, but I've also heard of buyers that have been working with agents..who have a buyer-broker even...who do the same. If you work with them closely until they are ready, then you hope they will be right there with.
Hi Ed, I too have worked with clients for a long time because they've not seen anything that they like. I think they are not ready as well...but at least you know they can buy if they did see that perfect home.
Hi Harry, I guess we are lucky that we don't work with rental homes here in the Portland area..unless they are your own personal ones. I'm thinking that rental will be long gone in 6 months.
Hi Wayne, thanks!
Hi Tammie, In your case, you know they've actually talked to a lender and they know they will need a downpayment. Looking at new construction is a bit different..especially if the home hasn't even started to be built yet. I would do the same with those clients. If they decide to go with a re-sale home but will not have the down-payment, would you still show them homes now. or would you wait until you got a lot closer to when they'll have the down payment...say a month or so before hand?
Hi Wanda, That is the plan!
Hi Christine, there are always exceptions. Often we can get a good feel if the buyer is going to be able to buy. If now now...then they hopefully will in the future, so working with them as a resource is a a good way to stay constant touch until they are.
Hi Ritu, Thanks, I'll be setting up a lunch date so I can talk to her as well as set them up on a home search. I know she is wanting and needing lots of information, so I want to make sure I'm their source!
Hi Vanessa, that's a great way to handle a buyer that isn't quite ready yet!
Looking this early would be futile. But like you said, getting in touch with a good lender will ensure they are ready next year. You definitely gave them the right advice.
Hi Nathan, Until they know how much home they can afford, going out to look at them before hand doesn't make sense.