Red Flags?

By
Services for Real Estate Pros with ActiveRain

The Chatter has been receiving lots of good questions lately so let's pick one out of the hat and hear what you Rainers have to say. 

Are there buyers you would refuse to work with and why? What are YOUR buyer red flags?


*Do you have a question or poll you're interested in running?  Want to hear from others on a specific topic?  Email The Chatter and if we use your idea, you'll receive 500 bonus points.  

Comments (71)

Joetta Fort
The DiGiorgio Group - Arvada, CO
Independent Broker, Homes Denver to Boulder

It really depends on how busy I am.  I have taken all kinds of clients mentioned above when I wasn't too busy to deal with their issues, and ended up closing a deal, usually with less hassle than I expected. Except - I will only take them out once before they do have to get pre-approved for a mortgage loan.  But I get to choose the price range, based on whatever they're currently paying.

 

Feb 07, 2013 12:57 AM
Pat & Wayne Harriman
Harriman Real Estate, LLC (203) 672-4499 - Wallingford, CT
Broker/Owners, Wallingford CT Real Estate

We agree with many of the reasons already stated, but our biggest pet peeve is clients who just won't take your advice, no matter how much info you have to back it up. If you won't listen to us, why did you hire us??

Feb 07, 2013 12:59 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Wow - what a can of works!  I'd have to say, which is my next blog, "Characters who act like buyers, try to sound like buyers, but really aren't - how do you tell the difference. "  Had an e-mail last night that I had to do online research to determine if he was "real."  Who are the real buyers out there and how do we determine if they are legitimate?

Feb 07, 2013 01:15 AM
Ric Mills
Keller Williams Southern Az - Tucson, AZ
Integrity, Honesty, and Vast Real Estate Knowledge

Won't sign the BBA, won't get pre-qualified or show POF. Pass.  Rude and unreasonable demands, unrealistic in what they will pay in certain areas. Won't tolerate for very long.

Feb 07, 2013 01:36 AM
Sharon Sapp
Century 21 Gold - Reading, PA
For Old Fashioned Service with Today's Results!

I agree with almost all of these. I take them out once if, through my questioning interview, they sound real. After that, they need to sign the BA and get pre-approved by a local lender. I always tell buyers that this contract is a 2 way street - they can fire me and I can fire them. That's usually a rude awakening and stops bad behavior. In some cases, it doesn't, though. I can usually deal with Know-it-alls and can subtley, show them they don't know it all and if not too bad, can deal with rude people. If after several attempts to help them, they continue to ignore my counseling, I just politely state that perhaps they should get another Realtor that they can trust and we can end this relationship now. Either they agree to end it now, saving many wasted hours or they straighten up and act like real buyers.

Feb 07, 2013 01:48 AM
Lori Bowers
La Quinta, CA
The Lori Bowers Group

No loan preapproval and will not call alender.

Know it all looky loos

Rude people

Late

Want to view on a moment's notice

Have been looking for over 3 months already

You find them the perfect house and they do not buy it

They think you have nothing in your life but them

 

Feb 07, 2013 01:52 AM
Dana Basiliere
Rossi & Riina Real Estate - Williston, VT
Making deals "Happen"

Must be pre-qualified or if not at the first meeting agree to go to a bank right away. They cannot be disrespectful to me.

Feb 07, 2013 02:32 AM
Bob Miller
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team
We call them weeds. Very low prices and time consuming. We don't water the weeds!
Feb 07, 2013 02:57 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Unreasonable expectations.  This can't be ascertained at first blush and I give lots of leeway.  But when we have scoured the market and there is still nothing they like, and I'm their 2nd or 3rd agent, and their in the low-end price range . . . I'm done.

Feb 07, 2013 06:10 AM
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

I require a pre-approval letter and a buyer's rep agreement, before I show properties. 

Feb 07, 2013 06:11 AM
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

I agree with Sharon, #61, to start and must know their action plan and deadline so I can determine if they meet my client profile.

Feb 07, 2013 07:14 AM
Nancy Middleton
Counselor Realty, Inc. - Excelsior, MN
Nancy Middleton, Counselor Realty, Minnetonka, MN

I agree with so many of the above, but it is important to me that after a lenthly Buyer Consultation, we have a sense of our relationship, have loyalty, trust, integrity and know their honest motivation and realistic expectations of what is important to them, their financing, and timing. I explain the necessity of being pre-approved and a signed a Buyer Representation form. If they won't do any of these things, I recommend they find someone else.

Feb 07, 2013 12:47 PM
Keith Whited
RE/MAX Gateway - Alexandria, VA

Purchasers: Constantly changing housing parameters/needs.
Sellers: Insist on listing at more than 3%ver my recommended pricing.

Feb 07, 2013 12:47 PM
Anonymous
Jacqueline Drake CRS

The one who told me that she would have the money to buy after she sued their dermatologist. She also talked about houses being toxic and the problems that caused her.  After I told a doctor client of mine what she said he didn't want me to show her his house.  Too many red flags for me.

Feb 07, 2013 01:35 PM
#65
Anonymous
Steve Earnshaw

Know it all buyers.

Only want to deal with the listing agent.

Unwilling to pre-qualify.

Trash talk all 20 agents they have recently fired.

Earnest money check bounced!

Feb 08, 2013 01:40 AM
#66
Kari Battaglia, PA
RE/MAX Platinum Realty - Venice, FL
Love Where You Live

I agree with many of the opinions stated here.  I have to say the worst for me is an buyer who can not make a decision and when they do they change their mind a day or so later.  I had a buyer who after seeing 15 homes or more submitting offer on a short sale.  I discussed with them what they will expect with this transaction and they assured me they were committed.  1 week later they changed their mind and backed out.  We found them another perfect move in ready home (about 1600 square feet) built in 1974.  After a 4 1/2 hour home inspection (longest one on record) they backed out because of minor issues that you would typically find in a home this age.  After this I was out.

Apr 26, 2013 08:19 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

There are a lot of interesting statements and opinions  here. Great read.

The buyer that turns me off is someone who is explaining me that they pay cash and want to buy 'this much' for 'this little'.  I'm not a magician~ can not do.

Oct 20, 2013 09:52 PM
Cheryl Powell - The Powell Team
Southern Homes of The Carolinas - The Powell Team - Harrisburg, NC
Concord,Harrisburg & Charlotte NC Area Real Estate

Buyers who insist they have a high credit score but have not bothered to get prequalified. 

Feb 02, 2014 02:41 AM
Jack Lewitz
Exit Strategy Realty - Evanston, IL

I am going to put working with a buyer who only talks about igetting earnest money back if they  decide not to buy the house. 

Jul 21, 2015 09:54 PM
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Nov 25, 2017 01:40 AM