The Final 3 Steps in Pre-Qualifying a Buyer

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The Final 3 Steps in Pre-Qualifying a Buyer

We are here today to bring you the final 3 steps of LPMAMA, our system for pre-qualifying buyers. We hope you find these tips useful to you and your clients. Without further ado, here they are:

Agent

It's against the Realtors code of conduct to take clients away from other agents, and we all need to play by the rules. Your reputation is the most important thing you have as an agent, and it's very difficult to get back if you lose it. If you are talking to a prospective buyer and they mention they have already been working with another agent, proceed with caution. Contact the agent that they have been working with to confirm their relationship. If their agent happens to be out of town, maybe you could ask if it's OK for you to show them a home. 

Mortgage

You want to make sure the consumer can afford the home they are looking at. A lot of time, clients will lie to you and say they have been approved even if they haven't, just so you will show them houses. It is just not worth the time and money to do this. One way to get a straight answer to this question is by asking indirect ones like, "Have you looked at interest rates yet?" If they say they haven't, chances are they are not pre-approved.

Appointment

Always close with the appointment. You can move this step around in the process, but if you can lock the consumer in for an appointment at any time, do it. Instead of asking direct questions to set up appointments, use indirect ones like "Does Tuesday or Thursday work better for you to see a home?" or "Would you rather look at homes in the afternoon or the evening?" Whatever their answer to these questions is, it's a good answer.

There you have it, the final 3 steps of our LPMAMA system for pre-qualifying our buyers. If you have any questions about our process, or about anything else relating to real estate, give us a call or send us an email. We'd love to chat.