Are all buyers Real?

Services for Real Estate Pros with Homes By Owner Mi

Well they may be in their eyes.  The only real way to be sure if a buyer is real is to have them pre-approved for a loan with a reputable loan officer.

Buyers many times will start looking at homes far beyond their capabiltiy to buy.  So if you go through all the work and effort of showing your home...accepting an offer and then find out they can not buy; how much emotional energy have you wasted?  Not to mention real energy.  The preparation of showing you home is not easy.  It take time to clean, empty closets get it ready....only to find out the buyers were looking at home $50,000 over their real ability to buy. 

When a buyer shows up at your you ask if they have been to a lender?  Why not?  Do you think they are going to mind asking you to lower the price?  If you are being represented your Realtor should ask for the pre-approval letter.  Remember this letter was for a point in time that has passed.  That means if the buyer purchased a new car to go in the garage of the new home they are buying their credit ratio may no longer be good.  Which means they can no longer buy at the same price range they were previously approved.

So are buyers real? Yes and maybe yes and then again sometimes NO.  Make sure you are dealing with real buyers before you go through all the hoops to show.  Never do any repair requests without a purchase agreement and an updated lender pre-approval.  Make sure your documents are in order and your buyers are real buyers.

Comments (9)

Bill Sauneuf
John L. Scott Real Estate / Yelm - Mount Vernon, WA

I give Buyers one day with me in the car... If I can't get them to get pre-approved by the 2nd appointment, I cancel it... or have a good lender call me at the scheduled appointment time.

It is a tough policy, but better that than wasting my time with people that aren't serious or aren't qualified.


Dec 09, 2007 03:26 PM
Selling Your Way
Homes By Owner Mi - Lansing, MI
Hi Bill, kind of says it all.  Not all buyers are real.  Thanks for the comments Bill.
Dec 09, 2007 03:28 PM
Jess Rankin
Pickering Group - Phoenix, AZ

Obviously, I couldn't agree more, and I belive that this market dictates us getting this info. up front.  No time for looky-loos...unless we add them to our database.

Jess Rankin, Pickering Group

**let me know what u think of my profile page

Dec 09, 2007 03:30 PM
Kris Wales
Keller Williams Realty - Lakeside Market Center - Macomb, MI
Real Estate Blog & Homes for Sale search site, Macomb County MI
Love it  :-)
Dec 09, 2007 07:53 PM
Selling Your Way
Homes By Owner Mi - Lansing, MI
Hi Jess:  Very nice...then I checked your website too!  Looks like you guys have it all!  Thanks for the comments.
Dec 10, 2007 12:03 AM
Selling Your Way
Homes By Owner Mi - Lansing, MI
Hi David, thanks for the comments...pre-approval is one of the keys to buying. 
Dec 10, 2007 12:04 AM
Selling Your Way
Homes By Owner Mi - Lansing, MI
Hi Kris, I feel like a newbie :-) Thanks for the comment...Gary
Dec 10, 2007 12:21 AM
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!
The only way to know if the buyer is real is make sure they are qualified to buy.  Anything else is guess work and even a waste of your time and their time.  Nice post.
Dec 10, 2007 11:09 AM