Most new agents are so excited to meet people who want to look at property that they put everyone in their car and start showing houses without qualifying these buyers. It is so much more professional to ask the right questions in the beginning and get in the habit of actually having qualified people in your car that can buy a home right now. It takes a little practice, but doing in right in the beginning will make dealing with buyers so much more rewarding, instead of exhausting!

Why do you want to qualify your buyers? You want to know that they are actually capable of purchasing in the immediate future. You want to know if they have another home that must be sold first before they can buy. You want to know what price range they can qualify for. You want to know that they really want to buy in this decade.

Here are some questions that should just roll off your tongue:

• Where are you currently living?
• Do you own or rent?
• Will you need to sell your current home before you purchase?
• Have you been pre-qualified for a loan with a lender?
• How long have you been looking for a new home?
• Why didn’t you buy?
• Is there anyone else who is going to be purchasing this home with you?
• Do you know about different down payments and closing costs?
• Is your down payment a gift from someone?
• Do they need to see the property before you purchase?
• Do you have the down payment in your own savings account?

Use the information that you gather to decide whether these are people you want to show a home to now or get pre-qualified first. Have an arrangement with a favorite lender to call them and have that lender “sell” you to them. Your lender should say that they are lucky to be working with you and that you will do a good job for them. Pre-qualifying for a loan tells you that they are serious about purchasing; and it also solidifies you as the agent to work with.

Even though you may qualify a buyer, they still may need to look at homes for many months so don’t get discouraged or frustrated. You are still way ahead because you asked the right questions when you met them. Some just need to take a long time—it’s in their genes!

Published: October 17, 2000

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