Los Altos Real Estate Blog

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The Anatomy of a Serious Home Buyer

Charita has spelled out perfectly what makes a home buyer serious and genuine.  To me, that's the key.  If a buyer is serious then they need to be upfront at the start and be honest with me about what their intentions are.  If they meet all these criteria, great.  If not, I get suspicious and that buyer isn't likely to get my full attention.  Why would any agent work for someone who isn't committed to the relationship?

Anyway, my suggestion to buyers is that they just be honest from the start.  Tell us what you do and don't want.  If a buyer just wants information on an house, not agent representation, then just tell us.  Otherwise, hopefully we'll get a chance to work with them.

The Anatomy of a Serious Home Buyer

As a real estate agent, I help people who are actually ready to buy a home or those who are simply giving some thought to the idea.  It's real estates do.  We realize that owning a home is something that many people dream of.  Some prospective home buyers Serious Home Buyersimply have the desire to be homeowners while others actually have the ability to make that dream of home ownership a reality.  But desire and ability does not a serious home buyer make.

An experienced Birmingham real estate agent can usually identify a serious home buyer within minutes of being contacted by someone expressing an interest in buying a home.  The following describes many of the home buyers that I have worked with that began there home search with me upon contacting me or shortly thereafter.

  • They identify themselves - that almost seems like a no-brainer, but when I say they identify themselves, I mean they give me their first and last names and not treat that information like it's a guarded secret
  • A serious buyer does not avoid questions as to whether they have spoken with a loan officer or been pre-approved for a mortgage loan
  • They are willing to speak with a mortgage loan officer (even if only for gathering information )
  • After a modicum of rapport has been established, they are willing to share contact information  (phone number, email, text). Anyone that uses cell phones knows that calls get dropped all of the time.  A serious home buyer doesn't mind sharing their contact information just in case we get disconnected or so that I can get back with them with more information after I've done a little homework

Once the home search begins, a serious home buyer will

  • Make themselves available where possible to view homes
  • Answer or return calls in a time manner (days later does not constitute timely)
  • Provide necessary information in a timely manner and understands that timing is everything once the search and negotiations have begun
  • Make sure that they have the necessary funds and other resources in place so that they will be available when needed
  • Usually realize very quickly what their money will and will not buy
  • Take an active roll in the process (i.e. drive by areas that they are not familiar with to determine if the area is suitable of them, continue to conduct their search independently, ask questions)
  • Not create debt once the process begins to find their new Birmingham Alabama home
  • Keep the lines of communication open and not be evasive when asked questions
  • Be willing to be guided by the knowledge and experience of their Birmingham Alabama real agent and not by the buyers lack of experience and knowledge of the complexities of the real estate transaction

Make no mistake there are exceptions to these traits, but more often than not, serious home buyers will possess these qualities.  The bottom line is this, it's one thing to contact a real estate agent just to ask questions and get some answers.....we welcome that.  But it's another to contact an agent and expect them to commit to the home search of someone who is neither committed or a serious buyer.

When you make that call to a real estate agent of your choice, please make it clear whether you're just seeking information or if you're actually ready to buy. And if you are not ready now, we'll be helping in giving you some information to prepare you for when you are ready.  But remember,most of all, after a few minutes we'll already know which category you fall under.

 

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Charita Cadenhead, Your Metropolitan Birmingham, Alabama Real Estate Broker of Choice

Got a question about Metropolitan Birmingham real estate? Just ask Charita. Need a good Realtor(R) to help you find a new home or sell the one you already own?  Just shoot me an email.  In need of a rental property?  Subscribe to be notified whenever we list a new rental or home for sale.

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 Bryan Robertson, CEO | T: 650.799.9951 | Email: bryan@catarra-re.com | Website: http://www.BryanRobertsonHomes.com |CA BRE# 01191946 | Catarra Real Estate, Inc  | 171 Main St #220 | Los Altos, CA 94022

 

 

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Comment balloon 1 commentBryan Robertson • January 28 2012 10:24AM
The Anatomy of a Serious Home Buyer
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