As we move into a slowing market, the number of buyers searching for homes is dwindling. As a result, it may be tempting to work with buyers you would have never considered working with over the last few years. Nevertheless, the real estate basics never go out of style, regardless of what the market does.
Now it’s more important than ever that you carefully screen your buyers and then set them up to win on the house they ultimately decide to buy. Consequently, be sure each of your buyers meets the following “must haves” before you spend any of your valuable time trying to locate property for them:
- They must have a written pre-approval letter, or even better, a fully underwritten pre-approval (i.e., all that is required to close the loan is the appraisal and title work).
- They must be willing to work with you exclusively.
- They must also have the desire, need, and ability to purchase in the next 30-90 days.
If they don’t meet each of these criteria, there’s a good chance they’re not serious about buying. Don’t waste your time!
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