Different ways to identify a serious home buyer

The main job of a real estate consultant or a realtor is to understand the difference between a non-serious home buyer and a serious home buyer.

This can help the developer convert leads into customers and build a rich database of homebuyers. For employees who deal with clients, this will be helpful as they don’t have to deal with non-serious home buyers. 

Homebuyers are expected to research the real estate market in a thorough manner as this type of property requires a lot of capital. Many home buyers spend a lot of their time in this process, hoping to get their money’s worth. As this process is a lengthy one, it makes the task of a real estate marketer even more difficult as they have no clue if they are dealing with a serious or a non-serious home buyer.

A serious home buyer will always be sure of what he wants even though he is a first-time buyer. A serious buyer knows what kind of real estate he is looking for, what kind of location he wants, and why he wants it. He will also follow the prices and market trends to understand when to buy them.

Quality questions

The intent of a home buyer is clear with the type and number of questions he asks. A serious buyer is bound to ask questions related to the real estates’ project like the possession date, documents, and etc. The buyer won’t ask questions like what schools are there in the area because he has already done his research well.

Clear requirements

The home buyer should come with a serious set of requirements, if he doesn’t, then he is fake. While investing in such a big property, one would have done their research and would be ready with a set of queries and requirements. Suppose, a buyer needs a 2 BHK, then he won’t be asking about a 3 BHK because that is not his requirement.

Financial understanding

A serious home buyer will know his way about funding. This means that he will have a clear idea about where his funds will be coming from. The buyer will also tend to have a lot of questions about the home loan facility that the project offers. Such buyers know the amount of loan that they will be granted.

Revisits

The seriousness of the home buyer is clearly seen in the number of visits he pays to the real estate property. If a buyer is not interested in buying the property, he will ask some basic questions and never show up again. Whereas, a serious buyer will definitely pay a second visit to the real estate property. According to research, the TAT (Turnaround time) of a serious buyer is short, he will come to visit the site in 15-30 days of his first visit. During the second visit, the buyer will be accompanied by a spouse or other decision-makers in the family.

Longer meeting duration

The longer the meeting, the more the chances are of the home buyer finalizing his purchase. Approximately, the time duration of a meeting between a project representative and a prospective buyer is 1-2 hours.

The above-mentioned points clearly state that such type of home buyer is not here to waste time. The first few meetings are more than enough for an experienced marketer to understand if the buyer is serious or not. 

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.