Finding the right buyer can sometimes seem a little tricky. Finding and keeping a motivated buyer may seem like an even taller task. Buyers are your lifeblood and the true source of your income, but they’ll do and say about anything to prove a point to you and/or convince you that they are the perfect buyer for your sale. While this isn’t the case with every buyer and every market, the bottom line is getting a motivated buyer to pull the trigger.
We’ve put together some of our thoughts on how to find and keep a motivated buyer in a busy housing market.
1. Vet Your Buyers
When it comes down to the nitty gritty of selling a home, some buyers may say or do anything to convince you that they’re the right buyer and you shouldn’t look anywhere else. In reality, this may very well be a tactic employed by “the crafty, clever and motivated” (by means unknown to the real estate experts).
If you’ve got a pile of offer letters sitting on your desk and you’ve got to narrow down the right buyer for your home, it’s time to get in the trenches. Use every available resource to vet potential buyers including lenders, credit reporting agencies, Facebook, and LinkedIn. While some of these avenues won’t yield much, you may get lucky and get the information you need.
2. Shelve Your Emotions
Buying and selling a home can get emotional and emotions are often what drives us in this world. Passions for hobbies, fiscal gain, or living in a perfect home are the things that often motivate us to do what we do, but don’t let the emotions of potential buyers sway you as a realtor. The emotional card is one that can be played over and over in virtually any arena and home buying is the biggest arena there is for the average American. Stay strong, steadfast, and be diligent to keep your sales strategy intact.
3. Skin in the Game
Want to make darn sure your motivated buyer is really motivated to buy your listing? Ask for some skin. Earnest money down, a commitment to property or finances, and a hardline on negotiation can make or break a deal for a lot of buyers. Additionally, if a buyer is really serious, they’ll make their intent known by providing hard facts to back up their position in buying your home.
Want to make sure they’re for real? Ask for earnest money, a financial statement, or to waive some of their contingencies on the home purchase. Willingness to accept any of these terms will show a true intent to buy and serious consideration.
One place you can always turn for mortgage-focused information is Tidewater Mortgage Services. The experts at Tidewater have processed tons of loans and know what it takes to finance a home. If you want to know if your buyer is the real deal, turn to Tidewater for help!
