When you are selling a home, it can quickly become frustrating when buyers claim financial delays. Keep reading to learn how to eliminate these excuses up front.
How to Weed Out Buyers with Financial Excuses
You know the frustration potential buyers can cause you if you have ever put your house on the market. It may come as a surprise learning how many people come to an open house or ask for a private viewing but have no intention of buying the home. In fact, many of them seem to have no intention of buying ANY home in the near future. Poking around in the business of other people is all they are doing.
When such people are not making an offer, a common excuse that they would offer is that they have not got their financing worked out yet. Yes, they love the property. In fact, it is perfect. They wouldn't feel comfortable making an offer, however, until they were sure they could get financing. After you hear this a few times, you will realize these people are just wasting your time. There's no need to grind your teeth as there is a way to stop these people in their tracks.
Now it's time to introduce to you a mortgage broker. A mortgage broker, unlike representatives working for a particular mortgage lender, is an independent person who helps buyers find the best loans among a pool of lenders. The process is analogous to a travel agent shopping the best flights for a client, but much more money is on the line.
A mortgage broker will look for their next client all the time. They are only compensated when they close a loan, so they are highly motivated to pick up leads. They are so motivated that they will actually come to your property during an open house. All day, a mortgage broker will literally sit there and take applications from potential buyers. In fact, the broker will also probably bring other marketing materials and appetizers.
You can probably see where this advice is headed. If you find a lot of buyers are using financing excuses, you should consider asking a mortgage broker to attend any open houses. When the buyer makes the excuse, then how about introducing the broker to them? This is similar to throwing blood to a shark. With a broker, you will be able to legitimate buyers and wind up those who are just wasting your time. The best part of it is they will do it all in a very polite manner.
People tend to dislike buyers of have no intention of really buying a home. In exchange for wasting your time, having a mortgage broker present is what you can do.
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