Six Questions to Rapidly Qualify Home Buyers
Critical stuff if you want to earn a paycheck in this soft housing market.
Dear Friend and REALTOR®,
One hot buyer's lead can mean lots of things. Especially in this weakened housing market.
It can mean mad money for a summer vacation; it could mean an Ethan Allen leather Paloma chair; or it could mean a mortgage payment on your home.
Whatever finding a qualified buyer means to you, you may need to sift through dozens of leads to find it.
With bankruptcies at dozens of lenders and rising default rates among borrowers reducing growth, hurting home prices, crimping consumer spending and affecting "the financial fortunes of millions, from first-time home buyers to timber workers, truckers and lenders", finding a buyer who has the ability to buy a house won't be easy. So having the means to rapidly qualify buyers will become essential in the coming year.
The best agents are highly skilled at finding and quickly qualifying the hot buyer. They can separate the A from the B from the C lead easily, determining who is going to act now versus act 30 days versus not act at all.
And a lot of these leads may want to act now but don't have the financial ability to do so. It's up to you to find those who are ready-to-buy and qualified to buy. Critical if you want to earn a paycheck in the next two months.
So, when qualifying buyers, ask these six questions and you'll quickly close that wide gap between you and your next check, regardless if it's a soft housing market or not. Guaranteed.
- How long have you been looking for a home?
- Do you need to sell your current home before you can buy? Most sellers can’t buy anything because they have to sell first.
- Are you working with another agent?
- Have you met with a lender yet?
- Have you been pre-qualified or pre-approved?
- Then ask, "If I call a lender and he has an opening available tomorrow or the next day, would you consider sitting down with him to determine what he can do for you?"
The goal is to get them to meet with your lender. If they meet with your lender then your relationship with them will solidify and you will quickly find out if they can buy a home or not.
Warmest wishes for your success,
Gary Elwood
Founder and Chairman
