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YES! I have your applications, thank you! Now, SHOW ME YOUR MONEY!

By Wallace S. Gibson, CPM

Property Manager with Gibson Management Group, Ltd.

November 26, 2012 08:43 PM

I have four application from rental prospects who have provided them to me personally or faxed/e-mailed them to me. 2 have until noon TODAY to Fed/Ex or hand deliver their check for their move-in monies to my office. 1 set I will meet at the property at 3:15P TOMORROW and I have advised them to bring their checkbook.

I've had tenant prospects tell me they will send in their application forms and they never show up so when prospects go so far as to provide their COMPLETED applications, I know that they MAY be SERIOUS; however, when they provide their MOVE-IN monie$, I KNOW they are serious.

Likewise, when a prospects makes a viewing appointment a week in advance and show s up 2 minutes EARLY for their appointment after driving 5 days across the country, I know they MAY be SERIOUS. When a prospect calls me on Saturday for a next day/Sunday appointment and does not call me to say they are running late. When they show up 10 minutes AFTER the appointment time, I know they ARE NOT SERIOUS.

Meanwhile, the properties are still being featured on my website and are in my Craigslist posting routine. I'll KNOW they are SERIOUS when they SHOW ME THEIR MONEY!

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Edward Gilmartin

CRE - Boston, MA

I like to have them wire the money into our company account...email or fax the applications if they are not able to drop them off.

Nov 26, 2012 08:47 PM

Wallace S. Gibson, CPM

Gibson Management Group, Ltd. - Charlottesville, VA

LandlordWhisperer

As a licensed real estate broker, the lease needs to be signed before I can deposit their funds and my applications * when faxed * appear as pdf in my e-mail.....I'm READY once I have their applications and $$$

Nov 26, 2012 08:52 PM

Richard Burge Realty/ Burge Homes

Richard Burge Realty/Burge Homes - Conway, SC

Broker in Charge/Owner

Red flags go up if they want to split the security deposit in half for the fist two months. It has been my experience that if the tenant can't come in with the rent and the security deposit I will have trouble in the coming months with them becoming late or short in the rent...

Nov 26, 2012 09:02 PM

YEAP! When they want to make deals after the showing and before they submit their applications * things are headed in the WRONG direction!

Nov 26, 2012 09:12 PM

Kenneth Cole

Weichert Realtors Appleseed Group, 2043 Richmond Ave. S.I.N.Y. 10314. office phone 718-698-9797, Appleseedhomes.com... - Staten Island, NY

NYS Licensed Real Estate Salesperson

Yes, money talks.

Nov 26, 2012 09:16 PM

Lisa Von Domek

Lisa Von Domek Team - Dallas, TX

....Experience Isn't Expensive.... It's Priceless!

Good morning Wallace,

As with most things, having "shown me the money" is typically the best indicator of one's intentions!

Nov 26, 2012 09:23 PM

Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

Forestland Experts! 715-204-9671

Good Morning Wallace, a lot of great posts in your blog today.

We too come across hundreds of people who claim to be in love with the home, yet until the ink is on the lease and the money is in hand, we know that there is a strong possibility that we will never hear from them again. So it is important to market it aggressively until it is actually rented.

Nov 26, 2012 09:50 PM

Michelle Francis

Tim Francis Realty LLC - Atlanta, GA

Realtor, Buckhead Atlanta Homes for Sale & Lease

Wallace,

SHOW me the MONEY! Otherwise, we don't have a lease and you don't have a home yet:-)

Folks who want a property do the things to make it happen.

All the best, Michelle

Nov 26, 2012 10:03 PM

Susan Haughton

Long and Foster REALTORS (703) 470-4545 - Alexandria, VA

Susan & Mindy Team...Honesty. Integrity. Results.

I had a rental listing once and received an application from another agent on behalf of his tenant; no checks, as are required! He called to pitch me on what a wonderful tenant she would be, I just said, "where is the money?" Of course, he had a long winded explanation about why she had not submitted the checks. I told him until I had money in hand, no deal and the property was still showing as active. What happened? I got a call that afternoon to show the property to someone with no agent; she promptly filled out an application and gave me the necessary checks. She got the place (after the requisite background checks, of course) and I got both sides of the deal. The other agent was annoyed, but after multiple conversations, there was still NO MONEY. It will drive you crazy - and you'e right, if they are serious, they will write those checks!

Nov 27, 2012 12:01 AM

So far * one has come through so I'll deliver a lease packet to him tomorrow and I'll meet with the second set of residents tomorrow afternoon.

Nov 27, 2012 01:13 AM

Charita Cadenhead

eXp Realty - Birmingham, AL

Serving Jefferson and Shelby Counties (Alabama)

Wallace I have an application for which it has taken her 5 days to turn in what I require. First I got the application, then she emailed me the rental verification form, then yesterday she brought over the signed rental verification authorization and now after 5 days of lollly gagging, she wants answer like yesterday. WHATever!

Nov 27, 2012 03:21 AM

....so far, 2 out of 3 have provided $$$ and signed lease....I'm working on #3 and #4 for mid-month move-ins...WHEW!

Nov 29, 2012 06:23 AM

YES! I have your applications, thank you! Now, SHOW ME YOUR MONEY!

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Wallace S. Gibson, CPM

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