When you’re marketing and selling a luxury property, you don’t just want any buyer to come in and tour the home. How should qualify buyers to make sure they can afford your client’s house so you don’t waste everyone's time? This is one of the key skills and services that differentiates a normal real estate agent from an elite luxury agent. So, how do you go about qualifying buyers for your clients?
Next, check if the buyer is working with an agent. If you know them and have a pre-established relationship, that is a big positive. Also, ask for any pre-approval from banks or other institutions. If you receive any, trust that they’re genuine, but follow up with the organizations to verify their accuracy. Many sellers require proof of funds before they allow a showing, so be prepared to verify financial info.
Here are a few yellow flags you should look out for when vetting buyers. First, false information is a big yellow flag and is probably grounds for immediate disqualification. Check addresses, websites, email addresses, phone numbers, and anything else that could be falsified on their proof of funds. Follow up with the person that prepared that document. Next, check the buyer's digital footprint. Without prying, try to get as much information on your buyer as you can to verify that they are who they say they are. This will also help determine how stable their income is..
You can’t test drive a Lamborghini without the dealership pulling information on you. Vetting buyers for a luxury home works the same way. If you have any questions, please call or email me. I am always willing to help!