Are Buyers Agents Wasting Time With Unqualified Buyers

Dated: May 26 2014

Views: 1988

Are you wasting time working with unqualified buyers?  Yes, absolutely!

To show properties to unqualified buyers is akin to shopping without a wallet! You wouldn't go to the market and shop for dinner without knowing how much money you had, or if you could even buy anything at all, would you?  Of course not! PLEASE don't show properties to potential buyers unless they have at minimum, a prequalification letter and can provide it to you.

Don't "hope" someone can get prequalified after showing. Too many agents are timid and afraid to require that a buyer take the necessary steps to get preqaulified before showing them any properties. In addition to wasting your time and gas, It's a disservice to 5 people when they do:

1) Buyer(s)- They don't know with any degree of certainty if they can even buy or if so, how much they can afford.
2) Sellers- Time wasting looky loos traipsing through their homes.
3) Listing Agent- See #2
4) Buyers Agent- See #1
5) Serious Buyers- They have taken the time to get prequalified and you are allowing someone who isn't to take precedence over them, potentially losing them.

Obtaining a prequal letter for a mortgage can be done within one day and saves EVERYONE time & potential disappointment in the end.  Take a moment to educate your customers and clients to the benefits of getting prequalified.

Good luck out there and happy selling! :)

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