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We're the professionals

When customers come to us looking for a home, we want to know what they can afford before we invest a lot of time in working with them showing them product that is beyond their means.

We want to make sure that they are serious about making a decision as well, but the financing part is not something that we can just wing.

We can't come right out and ask them how much they can afford - they may not know or may tell us a number that they think we want to hear. The best thing is to have a pre-approval letter from a reputable lender that we are familiar with. If none exists, we stop right there.

One of the great things about social networking like Active Rain is that we get a chance to meet people who can assist us in putting a sale together. Make contacts, be pro-active, be ready.

A customer doesn't have a lender or a pre-approval letter? OK, we have someone for them to talk with, and that's going to happen before we go any farther. Even if it's just a phone call between the lender and the customer on our phone while we give them a little privacy to discuss their business. Then the lender can at least give us an upper range on the spot.

If they choose not to use the lender we recommend, that's OK, but we know what the customer's basic limits are and will show property accordingly.

The same thing applies to home stagers, home inspectors, and others professionals that might help build the sale or get our listing sold. We're the professionals, so we should be prepared with our network of associates. Our customers only buy and sell homes now and then. We do it all the time.

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For more information on my coaching services or sales tips visit my website stevehoffacker.com or my blog homesalesinsights.com.

Posted by Steve Hoffacker - Real Estate Sales & Marketing Consulting and Strategies on 08/11/2008 06:31 AM

Comments (16)

Professional Networks in the ActiveRain Channel

financing, preapproval, selling skills, social networking

Originally posted at: Steve Hoffacker's Sales Quips: We're the professionals

Post is included in group: Art of Professional Salesmanship
Post is included in group: Coaching and Mentoring
Post is included in group: New Home Sales
Post is included in group: Real Estate Rookie

16 Comments on We're the professionals

AUG

2008

I agree with you - pre-approval is the way to go - we have to know they can buy before we try to sell!

Norma,

If we don't we may just be spinning our wheels and not have anything to show for it. Thanks.

Steve

Amen brother Stave, Amen. BTW, don't forget your friendly and professional title agent

Good, make that great post.

Steve - I agree. I really appreciate the "specialists" that I have to help my clients. Whether it be lenders, stagers, inspectors... It's great that we can all work together. :)

Steve

You are correct, we are the professional and we should but guiding our customers though the process of buying and selling

Good luck and success

Lou Ludwig

Steve, it is so important for buyers to understand the whole transaction process in advance, especially the pre-approval. Great Job.

Bo,

Thanks for adding the tile company perspective. Of course you're included.

Steve

Debi,

Thanks for your response. It is and needs be a total team effort. None of us can get the sale qualified, processed, funded, and closed on our own.

Steve

Lou,

Thanks for your support and agreement. By guiding our customers through the process, we need to start with the financial element - the "able" part.

Steve

Leslie,

Thanks for your comments. A pre-approval can save us a lot of time and energy and make us more efficient.

Steve

AUG

2008

Hi Steve- all excellent points to put into practice. In my area, a pre-qual, preferably a pre-approval letter is expected with all offers. Funny, discussing what the customer can afford has never posed a problem for me. Perhaps the 10 years I spent in the mortgage business as a loan officer conditioned me to the practicality of knowing that information. Hope all is going great for you :-)

Gail,

Thanks for adding your insights and experience. Glad things are going well for you. Keep it up. :)

Steve

AUG

2008

Good advice. I know a lot of agents that have complained in the past about spinning their wheels on people that ultimately can't "buy THAT house." The pre-approval takes care of that. Good teams make things happen.

Stacy,

Thanks for your comments and your agreement. Sounds like you speak from experience.

Steve

It's just a no-brainer that you can't get blood out of a turnip, so why try -- use the time and energy doing something more productive and profitable. I think since the market has been slower this year that a lot of people are still trying to "make" something happen, but with the way lenders are qualifying, or not qualifying people, we might be wasting a lot of our valuable time without the benefit of the pre-approval letter.