Which buyers are real?

Always at the top of every Realtor's mind is, "Is this a real buyer? Are they ready to buy now? Am I wasting my time?"

It is not an easy question to answer. The old saying, "if it walks and talks like a duck, it's a duck!" doesn't work in this case. Lots of people want to buy a house. Lots of them can pay for one. Lots of people are both. All of them will go looking at houses with you, in your car at $4 per gallon. Then they don't buy. You have wasted precious hours (and hours!) of time with them for nothing.

What's a rookie to do? Is there a real way to tell who is going to buy from those that just want to look?

There is a way to limit your losses, if not cut them completely. It is not complicated, but it is also difficult to do. It requires you to take a stand for how you want to work in this business and say NO. The basic steps are:

1. First have an in-depth conversation with all the buyers about their needs. Go well beyond the price, number of bedrooms and baths. Get them to talk at length about their emotional needs. What things mean to them at the heart level.
   


2. Get them to your trusted lender to get qualified by someone you trust. They may get their loan from anyone, but before you move forward with them, be sure they are qualified.
   


3. Find out, by asking pointedly, what would stop them from buying right now. What obstacles are in the way that need to be dealt with? Attorney or parental approval, down payment issues, credit issues, physical or job-related issues. Find them out first.
   


4. Talk through everything before you go out to pick a house. Stop using "showing" and start using "picking" a home. Make it clear that when you go out to pick a home, they are in the decision making stage, not information gathering and education stage. Get agreement that is your purpose in going out.
   


5. Go out with them to pick amongst no more than 5 properties. If they don't pick on of those, talk it over. Take responsibility if they don't pick one. You missed something. You choose the best of the available properties.

It is not complicated. However, it will take fortitude on your part. It is a lot easier to just take everyone out, driving them from home to home with no criteria for determining how you spend your time. You can HOPE one will finally buy.