Ask Texas REALTOR®

Q   I know that prequalifying buyers is a good idea, but how do I go about it without insulting them? I don’t want to tell them I’m just trying to make sure they’re not wasting my time?

A  You’re right. Although it is perfectly reasonable to want to determine if someone is a legitimate buyer before spending considerable time with them, telling them so–even tactfully–may offend some people. Fortunately, prequalifying buyers benefits not only you but your buyers, too. People often misjudge how much they can afford to spend on a new home–sometimes aiming too high and other times lower than their finances will allow. Prequalification helps buyers avoid the frustration and embarrassment of finding a home they want only to be denied a loan. It also helps buyers avoid a situation where they settle for less home than they want when they could have afforded more. Prequalification is a great opportunity for buyers to define the kind of home they want and establish priorities. That way, you waste neither your time nor theirs showing them homes they would never want.

Explain to buyers what’s in it for them, then proceed with this important step in your business relationship.

Have a question about finances, licensing, technology, marketing, or other real estate issues? Ask Texas REALTOR® by sending e-mail to texasrealtor@texasrealtors.com or fax to 512/370-2390. Not all questions can be answered.

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