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All I want is a Five Star Buyer

By
Real Estate Agent with Evergreen Realty & Associates Inc.

I was reading a post by Nattalie Cornwall titled What type of buyer are you working with? and my comment prompted me to write this post.

I understand The-know-it-all buyer and even The-I-know-nothing buyers, they are just normal people like you and I but usually lack our experience in the buying and selling that we see as daily routine.  The people we work within each of these categories is a matter of personal choice and is usually based on our experience with people in general and how we effectively we relate to them.

It was her The indecisive buyer category the cause me to wince in pain at the thought of driving clients to house after house only to have them tell me they are not sure if it's the one.  I love people, but I value my time too.  Frankly I would rather go fishing than play taxi cab to people who are not prepared to reach a buying moment.

I believe in what my mentors termed A Five Star Buyer.

A Five Star Buyer is:

1. Financially qualified to buy the property of their choosing

2. Approved by one of my lenders..... yes they can use their own but I require mine just in case

3. Motivated and ready to buy immediately upon locating the desired property

4. Willing to follow instructions and take my advice

5. Willing to work only with me 

If I get the hurried phone call we have each received from buyers stating that they have just driven by a house and need to see it right away, unless they are someone I have previously rated as a Five Star Buyer, I set an appointment at my office and require that they give me an hour of their time.  During that hour I lay the foundation of the perfect transaction and establish a chain of events which must occur to have a successful closing.

I have discovered that if you believe in your vision so will they.  Event to the point of enthusiastically embracing the idea of becoming a Five Star Buyer.  If I sense they are not willing, I began mentally packing my fishing gear. 

I want the very best for my clients, I don't want to find the right home and they be caused to suffer the heart break of not being prepared or able to act on it. 

What is the point of showing properties if the decisions required prior to the purchase haven't been reached?  My job is to help them make those decisions in the proper order so we can approach any seller and negotiate from a position of strength and preparedness.

With a Five Star Buyer I can become their hero because they have given me all the tools necessary to do my job effectively and that is why they hire me.

If you like being a tour guide or playing taxi by all means you have my blessings but for me, just send me a Five Star Buyer.

copyright Darrel Quebedeaux 7/25/07

 

 

Comments(7)

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Jennifer Hillegas
Sign Your Deed Realty - Rome, GA
Every Seller Does It!
Your post is great and I tell my agents all the time to make sure and NOT waste time with unqualified buyers and the qualified buyer is the 5 star buyer! 
Jul 24, 2007 10:34 PM
Jeanne Kear
Countrywide Home Loans - Barryville, NY
I feel bad for some agents they work with clients for a long time and never qualify them This confuses me since it only takes a phone call to get someone qualified. in my experience most of the time these buyers are not qualified and so much time had been wasted. Please agents if you are reading this have your buyers get qualified this can save you so much time and you can make more money faster if you have the right buyers.
Jul 24, 2007 11:37 PM
Karen Hurst
RICOASTALLIVING.COM - Warwick, RI
Rhode Island Waterfront!
I always get my buyers qualified and "willing to work only with me". My biggest problem is "motivation". They all come in ready to go and then want to take a year or two to find the house. Exaggerating, of course, but that's what it feels like. I have two buyers now that are "waiting on the crash", and 3 looking for the impossible dream. I would like to add to your list a sixth star....A buyer that understands what they can afford and sticks to those parameters.
Jul 25, 2007 12:00 AM
Darrel Quebedeaux
Evergreen Realty & Associates Inc. - Newport Coast, CA
Jennifer, thanks for stopping by.  I can only agree with you.  I never have enough time for fishing anyways so I look for a good excuse and people who are not five star buyers and the perfect excuse.
Jul 27, 2007 05:59 PM
Darrel Quebedeaux
Evergreen Realty & Associates Inc. - Newport Coast, CA
Jeanne, What I am talking about is more that having them prequalified.  Prequalified in nothing, I want preapproval.
Jul 27, 2007 06:01 PM
Darrel Quebedeaux
Evergreen Realty & Associates Inc. - Newport Coast, CA
Karen, I thought I covered that in item one.  I can sympathise with what you are saying though.  Their schedule is not ours but I believe by asking the right questions we can get to the real reason they want to make the purchase and if you can do that the rest should be easy.  Take the time to know them.
Jul 27, 2007 06:04 PM
Darrel Quebedeaux
Evergreen Realty & Associates Inc. - Newport Coast, CA

Dennis, I can understand your thought but I think if you had qualified someone prior to them coming to me that you and I would probably know each other and if that were the case then that would negate what I stated. 

 However if I don't know the mortgage professional or his company and there are as many in your business as in mine; I have my clients get a second approval for the sake of expediency and if the first approval was a good one and the rates comparable they the clients certainly are welcomed use their person. 

 The issue I seek to avoid is coming down to the last days of the escrow to have some mortgage person that I don't know change the terms and put my clients in a bind.  This has happened to me before where suddenly there was additional points and fees that the client was never told of and had to come up with if they wanted to close the deal (in one case over $5000.).

  I really felt bad for my clients because they brought this person into the deal and I had no power to help them.  I don't like being powerless so I suggest ways to keep my clients in charge during the process.  If you qualify them with a solid deal there is no reason to worry, a second opinion validates your position.

 

 

Jul 27, 2007 06:15 PM