If you could have a dollar for every comment like “Oh, this is so perfect” or “This is it! We must buy this house!”, selling houses would just be a “free for all” millionaire deal. In reality, people simply get excited and say things they do not actually mean! What they do matters so much more! Home sellers get their hopes up and wait on that offer to come in, but shortly after that excited buyer simply disappears without a peep. Do you want to be prepared? Do you want to be able to tell that a buyer is not interested in your home? Here we have some amazing stats and examples of what you should be aware of! Tune in!
Sign No. 1: The buyer is flying solo
If a buyer doesn’t have a real estate agent yet, he probably isn’t serious about shopping for a home. Do you think a shopper who can’t be bothered to enlist free expert help is motivated enough to start putting papers in motion? We don’t think so either. To put things in perspective, consider this: 87% of buyers recently purchased their home through a real estate agent or broker, according to a survey conducted last year by the National Association of Realtors® of recent home buyers and sellers. You do the math!
Sign No. 2: The buyer just began shopping
The old adage that timing is everything applies to selling homes as well. Typical home buyers take three months to buy, so if a seller is entertaining interest from someone on Day 1 or Week 1 of her house hunt, chances aren’t good that she’s the one. Buyers are the early stages in their search do not really know what they want yet and are not likely to make an offer.
Sign No. 3: You meet the buyer at an open house
It’s also less likely that a seller will score an offer from a buyer at an open house. According to a report from the NAR, only half of home buyers visit open houses—and those who do may be trying to avoid too much attention by hiding in the herd. Serious buyers, on the other hand, will conduct their home search online, then once they spot a home they like, request a private showing. It’s like dating: Asking to see a home one on one carries more weight than asking someone, “Hey, wanna hang out in a group?”
Sign No. 4: No pre-approval from a lender
There’s no need to read between the lines of this sign. There is no way to tell if a buyer can afford a home without a pre-approval letter.
Sign No. 5: A speedy visit
Buyers who zip along while they’re checking out the property aren’t likely to cross the finish line with you. If they are rushing through the house, it is a definite sign of lack of interest.
Sign No. 7: A (really) lowball offer
Everyone wants to score a deal, but if a buyer offers an “unreasonably low” sum, that’s a sure sign that they don’t really want the property. Serious buyers in today’s market would knock it out of the park with their best offer!
Sign No. 8: Lots of nitpicking
Even after the buyer has made an offer and you have accepted it, he still might not be 100% on-board with buying the property. Is he obsessed with finding faults and problems in the home? If he wants to add home inspection contingency and then needs you to fix every single little thing in the house, he might be simply looking for you to just give in and say, “No, thank you, not fixing anything”, so that he can back out of the deal all together.
Being aware of those situations should give you a pretty good idea of what should and should not be happening with that offer you are so excited to receive!
8 Signs a Home Buyer Isn’t Serious by Jennifer O’Neill