5 signs that your potential buyers are ready to buy a new home


If you are a real estate professional, chances are you are pretty good with people. You can empathize, hold small discussions until the current sale, identify subtle clues on a buyer’s face that can help you isolate areas of concern to them during an exhibition, and more. flashing green: you have a buyer ready to buy a new home! Well, excuses for psychics, but anyone can be wrong. Your buyer may be imagining their triumphant move to new digs, but they may very well see their own situation through rose-colored glasses. Putting the benefit of the doubt aside, here are 5 obvious signs that your potential buyers are ready to buy a new home.

Good credit and financial solvency

good credit rating

Sounds pretty catch-all, right? Well, that tends to be something that a primary buyer can try to obscure or downplay. Do they have a good credit rating? How is their debt-to-income ratio (DTI)? Bad, but they made monthly payments on time on their $ 25,000 credit card statement? Your potential buyers may have formulated a plan to pay their principle of $ 3,500 / month plus HOA plus property taxes, but that’s where just a simple bookkeeping course (available at reasonable rates at your local community college). ) can come in handy when considering your potential buyers. . Check their employment and bank records as well as the aforementioned DTI to give you the clearest picture of your buyer’s financial situation and see if this house is made of concrete blocks or cards.

Locate their position in the buying cycle

diagram of the purchasing cycle

The buying cycle is divided into three parts: awareness, consideration and purchase. Awareness is analogous to navigation. The consideration is when your primary buyer evaluates all of the options with (hopefully) careful analysis of their needs versus inventory. Buying is when the buyer is ready to pull the trigger. In today’s hot market (2020-2021), it seems like every buyer is locked into the final phase of this cycle. Using the buying cycle as a metric to gauge your potential buyer’s behavior will allow you to make measured, thoughtful decisions about how to engage them. As we step away from the present, where every interaction in the awareness phase will be a hard or soft push to buy as quickly as possible, consider responding in a measured way to awareness by making yourself available with subtle emails once. per month to keep you on top of your mind. The review will be an in-depth conversation. Buying will require your most agile focus and timely responsiveness. During the purchase phase, the primary buyer will have all of their proper documentation, be ready to obtain or be pre-approved for a mortgage, and have a clear and concise list of their needs in descending order of ‘importance.

They are available immediately

cash buyer sign

Eight a.m. calls are music to a real estate agent’s ears. Your potential buyer rang the bell ASAP to start the process by seeing one of your listings ASAP. Today? Even better! Focus on that sense of urgency, but be aware of our previous warnings – be sure to check the manager’s financial situation in a polite but brief manner that takes less than 10 minutes (or 5, if you’re a machine). absolute). Do not delay, because it is not, and make an appointment.

They have lived in the same place for a long time

lived in the same place

They are a couple approaching retirement and both children have moved on to school or careers. Or they form a family with 4 elementary school students and they move out of their two bedroom apartment which never has a rent increase of more than 2% year over year. The average American home is occupied by its owners between the ages of 11 and 14 – sometimes more or less depending on the metropolitan area. Comparing these national figures with the situation and locality of your primary buyer will give you the clearest picture of whether or not they are ready to enter the buying phase.

You are “The Chosen One”

the chosen

They don’t speak to any other agent. Maybe they have been doing it in the last few weeks or months with no success, but right now you are the belle of the ball, their insider. Buyers who are past the awareness and consideration phases of the buying cycle will not be interested in playing games or (in the next normalcy) juggling multiple offers through different brokers to hedge their bets. You are the only one they talk to and you’ll know it when they push your promise to “always be available for them” to its absolute logical limit and 1:00 a.m. texts.

For more knowledge for (and from) our real estate agents …

The advantages and disadvantages of an open house | 4 residential construction trends shaping the market in 2021

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