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How can you tell a serious buyer from a 'looker'?

A prospective buyer who shows interest because of a "for sale" sign may not really be interested in your property. Often buyers who do not come through a realtor are a good 6-9 months away from buying, and tend to be more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house just yet. 

Your realtor should be able to distinguish realistic potential buyers from mere lookers. Realtors should usually find out a prospective buyer's savings, credit rating, and purchasing power in general. If your realtor fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people. If you have to do this work yourself, consider finding a new realtor.

  • March 26 2014 - West San Jose
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Answers (2)

My 1st question is" Have you been pre-approved by any major lenders?".
A serious buyer will ask when is the last hour to submit an offer?  Anyone else
is nothing than a curious looker or a nosy neighbor. 
  • April 27 2014
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If I were a buyer wanting to look at a home and wasn't working with an agent, would you actually want me to show you my savings account information and my credit scores and other financial information in order for you to show me your listing?

I wouldn't think of showing you that stuff until I saw the home and was half way interested in it.  When I'm ready to submit an offer, then I will show you the money.  Not before.  If you insist on that upfront before I see the home I'd just walk on by.  

I'd instead just trust up front and then verify later when there might be some interest. 

Many times I work with buyers who might say that they want to buy in 6-9 months but then when they actually see someone they like, their buying plans become immediate.  Seeing a great home in person can really motivate people to do something much quicker than planned.
  • March 27 2014
  • 3Yes

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