Tips for Judging People and Finding a Serious Buyer
Having a bad judge of character is something which can be worked on and improved. People find themselves in unpleasant situations at least once in their lives when they failed to judge someone’s character appropriately or on time.
These skills can be practiced and put to use in all fields. Real estate, where agents deal with sellers and buyers, primarily, is a very social position. It requires the agent to be able to judge character, in order to find a serious buyer, who they can dedicate more time (and money) to. Working with a client who is not going to purchase anything is a waste of money.
In order to be able to spot fake buyers, here are some times which should help all real estate buyer’s agents.
Financials – Pre-qualification or Pre-approval
A good buyer will have the financials ready. Most buyers are not able to transfer the actual value of a property to their respective sellers’ accounts, so they have to get a loan. Buyers which are not pre-qualified or pre-approved will be the first red flag. A buyer which is just browsing is basically not worth your time. You can ask for these documents in order to check whether you are dealing with a serious buyer it they are not upfront and honest with you.
Understand a Buyer’s Intention
In order to do this, you need to be able to communicate with people well enough, or have enough experience to be able to read people without them saying things explicitly. Communication is key, and for an agent, communication means understanding the client regardless of what they say and what they don’t. In fact, your money and reputation rests on your ability to understand a buyer’s intention.
If the financials check out, you need to see whether a buyer is actually interested in a property and if not, why not, or rather, in which property they might be interested instead. Small talk helps, but mostly if the client is honest.
Understand the Buyer’s History
Some things might turn a buyer off if they are things that the buyer had bad experiences with in the past. It is worth to know the previous accommodations of a buyer before showing them stuff that they might instantly dislike. Conversational skills, besides observational, are an agent’s top skills. With this in mind, talking and listening to a buyer should help any agent improve their odds of choosing the correct buyer and the correct property.
Understand the Market
If a buyer is coming from a mid-class market, luxury homes are likely not going to interest them. Thus, you should position yourself according to their needs and desires. Matching the right market to the right buyer is a great skill and is one of the many which can help you make sales.
These are the things which every agent should know and get better at in order to spot a qualified and serious buyer. These skills can be practiced and every day is a chance to sharpen the tools needed to sell properties.