How to Identify a Serious Property Buyer and a Window Shopper

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how to identify a serious property buyer and a window shopper

As a real estate broker you have to embrace the truth that you are in a service-oriented industry; you should always serve the interests of your clients. But, how you will distinguish people that are just out to get information and those that are serious buyers? How can you identify window shoppers and those who are actually interested in buying and selling properties?

A change in perspective is the solution. When clients approach you, whether they are genuine or not, it is because there are too many information and options out in the market and they need to narrow down their choices. It is easy for them to feel lost. When you offer your services make sure you dismiss their sense of being lost. They need to see you as an ally, someone who can guide them out of their problem. If you can get the message across that you are a good guide, it is likely that they will seek your help and hire your service when they have worked out their situation. But, be sure to focus on the right and serious clients. Gauge who to really prioritize as hunting for good deals do occupy a big chunk of time.

Consider these questions when dealing with clients to see if they are really serious buyers:

  1. What type of property is your client looking for?

Your time and your client’s are valuable. It is best to comprehensively know their plans. What type of house are they looking for? How many bedrooms do they need? Do they need a pool? Be specific with your questions so you can narrow down the choices.

  1. Is your client pre-approved?

Clients, who are preapproved, are clearly serious about buying. This way, you will also their budget. Knowing their financial situation is a good indicator that they are serious buyers.

  1. Is your client a first time home buyer?

You need to gauge how much your clients know about the buying process for expectations management. Clients need to be educated about the realities of purchasing properties.

  1. Is your client ready to meet a couple of times?

This is a real clincher. Serious buyers appreciate appointments and viewings.  Agreeing to meet several times only reveal that they want to proceed with their real estate transaction. If they are not ready to meet, nurture them until they are ready.

Unfortunately, there is no easy way to know whether a client is serious about purchasing a home or not. Just be sure to apply judgment when dealing with all of your clients. If possible, ask them questions that would help you to further know them.

Do you know practical ways to identify a serious buyer and a window shopper? Share them to us on the comments section.

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