As real estate professionals, it’s always a priority to make a sale as quickly as possible, trying to not just please the buyer but the seller as well in the process. This can be quite hard since there are certain kinds of homebuyers who will make a seemingly easy deal really hard. Here are some of them you will probably face in your career sometime.
It’s not surprising that homebuyers want to get their hands on the best deal possible. However, their need to find the “perfect” home can often land real estate agents in rather dicey situations that they’d better avoid than tackle. Homebuyers who will fight for every penny, and will most likely cause trouble, can be identified by keeping your eyes and ears open for a few telling characteristics.
Some buyers take several months to complete a purchase and they require a lot of hand-holding. They are also the kind that make lots of requests. There are others who are more self-sufficient, and only bring in the agent from time to time. A good real estate agent should be able to accommodate any kind of buyer. But let’s face it, all buyers aren’t made equal and there can sometimes be a disconnect between the buyer and their agent. Here’s a broad list of customers who are most likely going to give you a hard time closing on a property.
It’s quite obvious that buyers will always look for a good bargain but sometimes they can take it too far. Some buyers can constantly quote a low price, sometimes even when it’s not justified.
It’s not as if the property is overpriced or even that there’s something missing. It’s just that the customer wants to pay less, at any cost. All realtors have seen such buyers – instances where clients have bid low on a home they really liked and then lost it to someone else. When you realize your client is heading that way, it’s always wise to remind them to have realistic expectations when they bid on a home.
The Picky Ones
If you find that some customers aren’t too concerned about the price, they could probably be really picky about the homes. This could mean hours of your time spent looking for homes that they would most probably turn down or find fault with.
Or sometimes, they could be too particular. Maybe they want a four bedroom home with two patios, on two levels with large living areas on both floors and a pool to go. By the time you find something that they might be interested in, they might have changed their preferences to something else! Or, they might even end up buying something that is the exact opposite of what they had initially asked for.
Bad Communication Skills
You may have a client who constantly wants to email you about a real estate deal or someone who only wants to text and is entirely unavailable on the phone. This is a little off since texting is probably useful to set up a meeting or to convey something when the person is not available on the call.
However, if it’s the only mode of communication it can get a bit tricky to manage. There have been instances where buyers have withdrawn from offers after texting and accepting them. It ends up being very frustrating for the seller as well as the real estate representative.
It’s important to make sure that deals and negotiations happen over a phone call and the real estate agent must insist that the customer follow this particular rule. That way, everyone can avoid miscommunication and save a lot of time.
Sometimes, clients bring their complicated personal lives and finances to the table, making it an awkward situation for everyone involved in the deal. Either their finances are not in order or they are waiting for some money to come in for the initial down payment. This is okay if everything goes on smoothly and on time, but if their papers are not in order at the said time and if the person who is to lend them the initial payment doesn’t do so, then there’s going to be a lot of confusion.
There have been instances of couples striking a deal to buy a home and move in together but breaking up the night before the deal is signed and they make the payment. Ouch! Now that’s something that you’ve got to watch out for!
Too Much Show
It’s normal for buyers to take a look at the house before they decide to buy it. Usually, this happens during the open house. Sometimes, buyers get a little too excited and try to measure and explore every inch of the house. They bring their designers who study the place with a keen eye or even a psychic sometimes, who declares that the house has a ‘negative’ energy.
This is alright if they are sure about making a deal but doing this at one home after the other could be very frustrating for the seller and time consuming for the real estate professional.
It takes a lot of time, effort and money to handle such clients and it would be helpful to remind them that they are also sometimes not respecting the seller’s home and their sentiments when doing this.
Be On The Lookout
This is just a broad outline of a variety of personalities that you will face as real estate professionals when you’re trying to sell homes. So, always watch out for some telltale signs right at the beginning of the deal and figure out a sound strategy to handle them without losing customers on both ends!