Paul S.  Henderson, REALTOR®, CRS, Tacoma Washington Agent/Broker & Market Authority! (RE/MAX Northwest.)

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Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

   If they stall or refuse to call a lender for pre-approval, or won't produce a POF letter, then SYL.

Dec 29, 2018 09:55 PM
Rainmaker
1,406,242
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

If they are not pre-approved yet, and have stopped communicating, I'd stop communicating also. I wouldn't formally "cut them free" but would release them in my mind and move on. They might come back at some point with an explanation and pre-approval in hand.

Dec 30, 2018 02:46 AM
Rainmaker
2,981,712
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I don't wait overly long... time is our most precious commodity so why waste it on a client who is not motivated at the end of the day. By the same token, I don't "formally" fire them. I ghost them back and let them make the first move back to me when they are serious. And if not, so what... some will, some won't, so what, next.

Dec 30, 2018 05:51 AM
Rainmaker
682,329
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Here's to me and here's to you
here's to love and laughter
I'll be true as long as you
and not one minute after.

If after being educated and instructed, they're not going with the program, F'M. I don't have time to chase non-functioning weenies.

Dec 30, 2018 04:44 AM
Rainmaker
3,246,921
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Communication is a part of connecting. Ghosting is frightening.  Staying in touch is part of the bigger picture. 

Dec 30, 2018 03:15 AM
Rainmaker
726,105
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Drop them like a hot potato (mind wise), time wasters! (They had cut themselves free)

Dec 30, 2018 12:08 AM
Rainmaker
12,779
Jennifer Hunter
House Hunters of Magnolia Homestead Realty - Ocala, FL
Residential Realtor serving Marion County

Bye Felicia! They don't seem like serious buyers to me. Do yourself a favor and cut them loose. Let them be someone else's hobby.

Dec 30, 2018 04:47 AM
Rainmaker
2,904,219
Richard Weeks
Dallas, TX
REALTOR®, Broker

1 they don't get pre approved

2 they don't sign a buyers rep agreement

3 they will not let me drive the bus

Dec 30, 2018 05:50 AM
Ambassador
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

They really are just lookers not buyers, aren't they? If they don't communicate or respond, there is not much you can do. Buyers have responsibilities too to make their next move (in more than one way!)

Dec 30, 2018 05:36 AM
Rainmaker
2,944,674
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I wont bring a buyer out without a pre qual letter from a local and trusted lender. 

Dec 30, 2018 05:21 AM
Rainer
36,235
Ken Jones
Ken Jones Real Estate Advisor - Toms River, NJ
Real Estate Advice & Training

Paul S. Henderson, REALTOR®, CRS It seems as though you have miscatagorized prospects as buyers.

REAL buyers are either qualified by presenting their conditional written mortgage commitment to you at your very first meeting, or they immediately submit to obtaining a conditional written mortgage commitment before seeing any property.

Any other type of inquiry is merely a potential buyer (a prospect) and isn't worth wasting your time on if they don't immediately proceed to becoming properly qualified.

Happy New Year!!!

Dec 30, 2018 07:35 AM
Rainmaker
4,876,944
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

dig deeply for listings, Paul S. Henderson, REALTOR®, CRS 

Dec 30, 2018 05:17 AM
Rainmaker
735,182
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I don't cut them totally free but do stay in touch with them from time to time 

Dec 30, 2018 06:06 AM
Rainmaker
1,458,345
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

ASAP. 

:)

Dec 30, 2018 12:29 AM
Rainmaker
1,036,878
Valeria Mola
SIB REALTY - Sunny Isles Beach, FL
305-607-0709 SIB Realty

Paul, I won't go after that one. 

Happy New Year!

Dec 29, 2018 11:22 PM
Ambassador
4,065,845
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Takes a lot of coaching and education to get them to do what it takes to get into a new home.

Dec 29, 2018 09:51 PM
Ambassador
3,193,534
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Chances are they HAVE applied for pre-approval and failed. They're likely too embarrassed to tell you. I have had this and a year later, they're on my doorstep again - ready to go! 

I wouldn't burn that bridge but, I also wouldn't put any more effort into convincing them to get their pre-approval or showning houses, for sure.

Dec 30, 2018 09:30 AM
Rainmaker
3,173,497
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Candice A. Donofrio put it well. Not one minute after! 

Dec 30, 2018 05:04 AM
Rainmaker
553,853
Peter Mohylsky, SoWal Is HOME.
PrimeSouth Properties - Santa Rosa Beach, FL
Let me help you find your path to the beach.

They are the ones who go ghost.

Dec 30, 2018 03:45 AM
Rainmaker
511,307
Francine Viola
Coldwell Banker Evergreen Olympic Realty, Olympia WA - Olympia, WA
REALTOR®, In Tune with your Real Estate Needs

People are so afraid of lenders.  I think they would rather go to the dentist for a root canal than get preapproved.  Lenders are not scary people.  Some of my best friends are lenders.  :-)

Dec 30, 2018 08:41 AM
Rainmaker
985,734
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Have learned from early on that only preapproved buyers get the attention of experienced realtors.  With high tech stocks prices reduced ~30% in 2018, it is harder today to cough up with $300+K down payment while most still can qualify for 1M+ preapproval. So I will be probing around see if they have the min 20% downpayment.

Dec 30, 2018 07:33 AM
Rainmaker
417,976
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

They could be saving for a bigger down payment, waiting on a promotion, inheritance or any number of legitimate reasons. Lack of communication is just normal human behavior. Keep the auto updates going and if their situation improves they will appreciate your effort.

Dec 30, 2018 07:07 AM
Rainmaker
1,508,307
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Then they are not buyers are they?

Dec 30, 2018 06:50 AM
Ambassador
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Since I work with investors only this is a rare happening.

Dec 30, 2018 03:42 AM
Rainmaker
2,765,719
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

I only work with buyers that are pre-approved, with underwriting approval with my lending partner.  They are well qualified and ready to buy in their price range ... and we only look at homes in their price range. 

Dec 30, 2018 09:53 AM
Rainmaker
653,628
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

What you have is leads that you have not converted, Paul S. Henderson, REALTOR®, CRS 

Converting leads is the hardest yet most necessary part of our business.

Dec 30, 2018 09:34 AM
Rainmaker
693,852
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

You see, I work in reverse. Buyers come to the office for their first interview meeting with me. They will be peppered with questions - needs, wants, and requirements, Then I decide if I want to work with them or not. If I do, then, they have to get qualified ASAP. Nothing really happens until they get qualified and I have a pre-qual in hand.

Then I know they are 'actually' buyers, they are committed, and what their real budget is, and down payment. 

Lets work professional smart.

Oh yes, one more thing... they must sign a BBA with me. It's not an option if they want to work with me.

Dec 30, 2018 09:10 AM
Rainmaker
524,364
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

When they've been shown what they want but they still aren't pulling the trigger on something.

Dec 30, 2018 06:50 AM
Rainmaker
4,796,551
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I stop calling them but leave them on drip email and automated searches if set up.  If they call me, I ask them to get their stuff in order before I will take them out.

Dec 30, 2018 06:32 AM
Rainmaker
1,818,066
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

We attempt to conduct a Buyers Consultation Session with our Buyers before viewing properties

Dec 30, 2018 06:19 AM
Rainmaker
658,074
Chuck Willman UtahHomes.me
Utah Homes - Alpine, UT
Utah Homes

If they don't choose to become pre-qualified they aren't a prospect.

Dec 30, 2018 06:17 AM
Rainmaker
1,135,284
Joyce Marsh
Regal | Christie's International Real Estate - Orlando, FL
Regional Manager Regal Christie's Int'l Realty

Communication is key. They need to communicate what is happening and then I will make a decision. 

Dec 30, 2018 11:23 AM
Rainmaker
4,321,931
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Paul,

So many good answers by so many smart AR friends...A

Dec 30, 2018 10:51 AM
Rainmaker
725,190
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Their lack of desire to get qualified is often the time to cut them loose and that should happen early on in the game.

Dec 30, 2018 10:18 AM
Rainmaker
5,271,087
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Keep them on your email list. Sometimes, it is months or years before they get serious.

Dec 30, 2018 09:50 AM
Rainmaker
745,017
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

They know something they have not told you.

#1. They have not seen a house they want.

#2. They fear if they get preapproval, they will be perpetually updating and taking a credit score hit.

#3. This is the one YOU NEED TO KNOW.....

They are avoiding shame.  This wears many suits. So give them a safe place so shame can be avoided. Every human action is to avoid shame.

You should have an Idea of their income (education, what they drive, where they work, job title)  and be able to extrapolate their maximum mortgage budget. Start there.

Dec 30, 2018 09:18 AM
Rainmaker
783,646
Susan Laxson CRS
HomeSmart Professionals - La Quinta, CA
Local Knowledge & Global Network

If they aren't willing or able to do their part in getting qualified, then I don't have time to waste on showing them properties.

Dec 30, 2018 08:52 AM
Rainmaker
2,426,419
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

This type of behavior has its roots in childhood development where an authority used will & force to get a result & instead got resentment & resistance. This will play out until someone corrects it....correctly (with love) or for an adult, with patience....

Dec 30, 2018 06:21 AM
Rainmaker
612,353
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

What Nina HollanderDebe Maxwell, CRS said.  :)

Dec 31, 2018 05:23 AM
Rainmaker
1,523,517
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

We will always have so-called buyers like that and we will not consider them bona fide buyers until they do take that critical next step. Until that point, they are nothing more than prospects and not worthy of wasting your resources on.

Dec 31, 2018 05:20 AM
Rainmaker
506,933
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

I explain, My level of investment to your success can't be greater than yours. I will proceed at your pace, advise you to the risks & rewards of waiting and let you do what makes sense to you.  I will send anyone listings, I'll only go out with the buyers who are ready, except maybe the first time. 

Dec 30, 2018 06:55 PM
Rainmaker
4,432,083
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

If they do not return calls or reply to emails  or texts

Dec 30, 2018 05:04 PM
Rainmaker
1,529,578
Mike Cooper, GRI
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Paul, I've dropped my share of buyers over the years. Most of the time, I'v e dropped them when they showed they were not committed to our agreement. They'd call a listing agent to see a home even though we had a written agreement. Or, they would go set up showings with other agents during that same time. They had zero loyalty to me. In that case, I freed up their future to use whoever they could find to work with them. No loss. 

Dec 30, 2018 03:08 PM
Rainmaker
3,766,924
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

I'm with Michael Jacobs ...communication is connecting, sharing and moving forward in a relationship. I'm also with Richard Weeks

 1 they don't get pre approved

2 they don't sign a buyers rep agreement

3 they will not let me drive the bus

Dec 30, 2018 01:47 PM
Rainmaker
1,000,092
Corinne Guest
Corinne Guest, REALTOR® | Barrington Realty Company - Barrington, IL
Barrington Lifestyles

Instantly. Many beter serving buyers to work with.

Dec 30, 2018 01:21 PM
Rainmaker
1,212,849
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

If they haven't gotten that lender pre-qual/pre-approval yet, I don't waste my time.

Dec 30, 2018 10:51 AM
Rainmaker
4,025,277
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

These buyers can stay on my web site, I won't take them out until they are approved, or show proof of funds.

Jan 02, 2019 06:40 AM
Rainer
117,966
Anthony Kirlew
Keller Williams Legacy One Realty - Gilbert, AZ
Helping You Make Fiscally Sound Choices

If they are not willing to get pre-approved, they are just a lead and not actually a buyer. I don't kid myself of try to make a deal out of every lead. I want motivated buyers.

I would create a process and explain the process. Those who are serious will follow your process. The others will become someone else's headache.

Jan 01, 2019 08:13 AM
Rainmaker
3,977,723
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

When I don't get information I request

Dec 31, 2018 05:25 PM
Rainmaker
3,074,858
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

within 7 days

Dec 31, 2018 01:21 PM
Rainer
222,898
Caroline Gerardo
CMG Financial - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

I put them into two systems:

A go fund me type pre- loan system to gather more down payment.

A credit repair improvement system

 

When they are serious they will have more money and a better FICO. I don't dump anytone, just keep fixing them

Dec 31, 2018 09:44 AM
Rainmaker
608,766
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Raleigh - Cary Triangle Real Estate 919-602-8489

Getting them pre-approved is one of the first things I do. I also like to meet with them to talk about their needs and the process then have them sign a buyer agency agreement. If they won't do any of those things, they can be on my newletter mailing list as long as they want. I'd rather spend time with my family than with strangers who have no motivation. 

Dec 31, 2018 07:08 AM
Rainmaker
1,936,433
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

You feed them, send the signals in your rotation but when they don't communicate, move on to ones who do that you can help. Just walk away from the MIA's and you don't always know why they backed off right away. Something happened in their life...or they already bought and are a tad sheepish? Getting divorced, lost job, medical problem...life happens. They can not get qualified for some reason.

Dec 31, 2018 04:12 AM
Rainer
410,768
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

If they won't get pre qualified or produce a bank letter for proof of funds, then let them go.   Your time is much too precious to waste on those. Concentrate on the ones that do and are motivated.

Dec 30, 2018 05:08 PM