Real estate investment requires a lot of financial resources, and that filters potential buyers who can actually close a real estate deal.
Nothing is more frustrating than dealing with a buyer unwilling to buy. You can waste more time dealing with a buyer with unrealistic demands. As a result, you may end up selling for the wrong price.
That's why you should know the tactics when dealing with buyers. To ensure you sell your property at the right price, we shall show you ways to identify a serious buyer and how you can benefit from dealing with serious buyers in real estate.
We can also help you find serious buyers for your property business. Therefore, we allow you to list your property on our website for free. Just sign up and upload the best features of your properties.
How to Know if a Buyer is Serious
In real estate, knowing whether you are dealing with a serious buyer is crucial. Of course, you don't want to waste your time dealing with someone unwilling to buy.
a.) Assess the buyer's level of knowledge about the property.
A serious buyer should ask questions about the specifics of the property and its location. For instance, a buyer can ask you about the available amenities around the property. That will be a sign that they want to invest in a desirable area. The buyer can also ask about the property specifications, such as the size and the number of rooms.
b.) Is the buyer engaging with the property?
Additionally, it is critical to assess whether or not the buyer is actively engaging with the property, such as viewing it multiple times, visiting the neighborhood, and consulting with other professionals, such as lenders and real estate lawyers.
c.) Is the buyer giving you a purchase timeline?
A serious buyer should also be willing to discuss a timeline for the purchase, including when they plan to make an offer and when they hope to close the deal.
If the buyer doesnt tell you when to expect an offer, then they are not serious about purchasing the property. In addition, if they give you a very long timeline, like the next six months, they are not serious about buying the property. Furthermore, committing yourself to such a buyer can waste time.
d. ) It is also essential to look at the buyer's track record
A serious buyer should have a history of completing transactions. For instance, ask the buyer for proof that they have completed transactions before. The presumed buyer should also have the financial resources necessary to close the deal. You can ask for a proof of funds letter before you commit to selling the property to the buyer.
e.) Pay attention to the buyer's attitude.
A serious buyer should be willing to negotiate and open to hearing any suggestions from the seller. If the buyer sets a very low price and is unwilling to adjust to your rate, they are not serious. By these indicators, it is possible to determine whether or not a buyer is serious about making a purchase.
Benefits of Dealing with Serious Buyers
Serious buyers save you from more advertisement costs. If you get a serious buyer, you will not spend any further advertising the property. Therefore, you will cut the expenses you could have used to reach other buyers.
You will sell the property. Serious buyers are more likely to purchase a property than those not interested in buying. As a result, you save time since you negotiate with a potential buyer.
You get a higher return on investment. A serious buyer will be willing to pay you a reasonable price without much negotiation. If you are dealing with a serious buyer, you will likely get higher returns on your property.
You can build a professional network. Dealing with serious buyers helps to build relationships and foster trust between buyers and sellers, which is essential in the real estate industry. The buyers can also refer you to their friends, and they can always come back to you in the future if they need some other property.
Serious buyers can challenge you, providing high quality in your property business. When a buyer asks questions about what is included in the property, you can use the information to improve your property for other potential buyers.
The Bottom Line
Dealing with serious buyers in the real estate market is the most rewarding part of the property business in Kenya. It's always a great idea to research the background of your potential buyers to ensure you are on the right track.
We can always help you get serious buyers for your properties in Kenya. The best part is that we don't charge you to showcase your property on our site. All you should do is sign up and start selling your property. If you need help with an agent, we have a list of real estate agents who can help you meet dream sales in any part of the country. See our agents here.
Frequently Asked Questions
1. How do I deal with a difficult buyer in real estate in Kenya?
Dealing with difficult buyers is a daunting task. However, you can win the buyer and close the deal with the right skills. You should first research your buyer and know what they need. In addition, listen to them and hear their views. If a buyer finds you are listening and attentive to their requests, they may decide to complete the purchase with you.
2. What's the primary way of identifying a serious buyer in real estate?
If the buyer is willing to show you that they have enough money for the purchase, it means they are serious about closing the deal.
.jpg)
.jpg)
.jpg)
