Screening Buyers
You are now (hopefully) ready to meet with interested buyers. Before you do, however, it is wise to prescreen them. There is nothing more frustrating than to go through all the trouble of showing your home to a stranger, negotiating price and terms, only to find out the "buyer" can't even qualify for a mortgage, or has no money for a down payment, etc. It is just as important to eliminate those callers who are likely looking for a more "executive" type home.
Part of the screening process begins with your advertising. As mentioned earlier, by listing price, you weed out those who are looking in other price ranges. By listing location, you further weed out those who want a home in another area. Now, those who call should be partly screened - they figure the home is priced within their means, and is located in an area in which they would like to live. That is a good start, but it is only a start.
Further screening can be done on the phone when prospective buyers call. Your main objective is to try and determine if he is a legitimate buyer, or just a "wanna be". The first thing you should do when someone calls is get their name and number - and write it down. Keep a "Caller Log" by the phone, and take notes. (After the call, transfer the name, number and notes to a 3x5 card that you will have handy when the buyer comes to see the house, and use it to refresh your memory about this buyer.) Then, you can describe your home and allow the caller to ask a few questions. Before the caller hangs up, you, too, should ask some questions, designed to help you evaluate the sincerity of the caller. Questions like "Do you currently own your own home?
Where - what part of town? Is your house already up for sale?" And don't forget to ask how soon they are planning to move. Also, find out if he has a pre-qualification letter from his lender. If he does not have direct answers to the last three questions, then he is just playing with the idea of moving. No concrete plans. Hence, he won't be a sincere buyer for at least a couple of months.
If after talking with the prospect you believe he may be a genuine buyer who qualifies to buy your home, set up a definite appointment for him/her to tour the property. If there will be a "party" or Open House, invite him. Before the appointed day, call him back to confirm that he will be keeping his appointment. Do this for two reasons - you do not want to waste time waiting for someone who has changed his plans, and you also get to verify that the phone number he gave you is valid.
Before showing your home, it is a good idea to stash valuables elsewhere. Not everyone is honest, and there are unscrupulous people who will take this opportunity to case your house, not buy it. And, whenever possible, arrange for someone else to be present when the buyer arrives. Never, ever, show your home to an unscheduled "drop in" when you are alone. In fact, take great pains to try and discourage drop-ins. Post it on your sign, and have "By Appointment Only" in your advertising. This may not stop all drop-ins, but it will reduce the number.
Again - and I cannot state this strongly enough - take extra care before letting unknown, unscheduled drop-ins into your home. Personally, I do not permit drop-ins, even if they are good prospects. If they knock on my door, I simply inform them that they came at a busy time, and to please call for an appointment. I am not paranoid, but I am not foolish, either. I learn from my mistakes. I once showed a home to a drop-in, and the next morning I awoke to find I had been robbed. Fortunately, the authorities caught the person. Unfortunately, I recognized him as the drop-in. 'Nuff said!
Another good idea is to refuse to show your home after dark. If someone arrives after dark and you do not want to risk losing a potential buyer, it is perfectly fine to just kindly inform the person that he/she has come at an inopportune time, and to please set up an appointment for a time more convenient. Be sure to get his name and phone number so you can call back to confirm.
NEXT: How To Show Your Home
No comments:
Post a Comment