Real Estate Forums

San Diego Real Estate · 12-30-2005, 10:23 AM

Ok Folks...

We have all experienced the new client call and the big are you Pre-Qualified question... Meaning not only can they get approved but what can they afford! What are some of your suggestions if the client says they are working on it and not to offend them or run them off to another agent?

Here are a few of my suggestions and I welcome your feedback...

1. Mr. or Mrs. Jones what type of home are you looking for?

2. Mr. or Mrs. Jones what type of monthly payment are you looking for?

3. Mr. or Mrs. Jones is this going to be 100% financing?

4. What type of reserves do you have?

In the San Diego Real Estate Market we know that if a prospective client is looking for a 3 bed 2 bath home that their payment will not be below $2600 per month with 100 % Financing...Also, we know that in San Diego to get a client into a 1 bed 1 bath Condo for less than $1000 based on Excellent Credit would not be a realistic goal...and that is if they have excellent credit and could achieve a 6% blended rate!

Now that we know this and the client is trying to get you to take them out to see properties and they are expecting a payment of $1500 for a home or $500-800 for a Condo then you know that you would be much better off to encourage them to get totally pre-qualified before showing them any properties!

What I do is I tell them that it is my job guide them through the proper steps of home buying and that getting pre-qualified is the absolute number one step!

Please feel free to add your suggestions here...

Las Vegas Real Estate · 01-03-2006, 04:24 PM

These are great tips, and as much as I agree that the prequalification process is crucial, I also do not feel that it should be the very first thing that you ask ona first phone call! Often times, agents pressure and are too agressive up front. I think that building trust and establishing a relationship is key.

Portland Real Estate · 01-04-2006, 01:39 PM

I feel that the pre-qualifying process is crucial. But it's not always practical for people coming from out of town. A lot of times, I find that they're here for only a few days for scouting purposes. They have no idea of the city and needed someone to "chauffeur" them around. I have a hard time telling them: "No, go get pre-qualified first". They'll just go to another agent. Any suggestion how to handle a situation like that?

Las Vegas Homes · 01-04-2006, 04:58 PM

I agree with the both of you! As important as it is, it is hard not too sound too agressive or pushy, and in turn, like you said, have the client find another agent who is simply willing to drive them around without being so direct. On the other hand, do you really want to waste time on showing someone homes who is not serious enough to answer those types of questions?!

REMAX LV · 01-10-2006, 05:18 PM

Good questions to abide by. I think that they are direct without being over the top. Also, throwing examples of payments and so forth can really help to get the ball rolling.

Cedar City · 01-18-2006, 01:07 PM

I also try to pre-qualify my clients upon first meeting or at least before I take very much time with them. Saves both parties time.