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It’s unfortunate, but most home sellers have to deal with potential buyers who turn out to be nothing but window shoppers. They aren’t really serious about buying and are just curious what the house looks like. This uses time and energy that could have be directed to buyers who are serious.
To avoid this situation, you need to filter windows shoppers vs serious buyers. With that in mind, here are 3 ways to target motivated home buyers in San Francisco.
1. Signs of Home Buyers Who Aren’t Motivated
If you really want to target only motivated home buyers in San Francisco, you’ll need to know how to filter out the window shoppers.
Here are some of the tell-tale signs.
Not Pre-approved for a Mortgage Loan
“One giant red flag is if the interested buyer doesn’t have a pre-approval letter from a lender. Yes, most buyers would look at a house first then get a pre-approval. This does work, but how does the buyer know if the home is in their budget? It requires the pre-approval letter.
The pre-approval letter shows sellers that the buyers can afford the house because a mortgage loan officer has given their stamp of approval. Without pre-approval, there’s no way to know if the debt to income ratio is within traditional limits to afford the house, which is one of the most important factors.
Displays Evasiveness or Hesitation
“If a buyer isn’t very transparent or seems to hesitate, it can be a bad sign. For instance, if a buyer dodges questions about their finances, what they’re looking for in a home, or their timeline for buying, they may not be a serious buyer.”
Imagine walking into a house that peaks your interest, usually people would be interested in the history of the home. For example, they might ask “Was this a rental or owner occupied?” This is to get an idea of how much care put into the home.
People who are interested respond to questions and asks questions. They even take their time in walking through a home, which brings us to the next point.
Rushes Through the Home Tour
Imagine when you first started dating. Would the date skip dessert and ask for the check when the appetizers come out? If so, most likely the other party is not enjoying themselves and wants to leave.
This is the same with a home if they come in as if they are sprinting a 100m dash then most likely they are not interested because they aren’t imagining themselves living in the home.
2. Prepare Your Home and Create a Compelling Listing
Now when it comes to actually targeting motivated home buyers, you should begin by preparing your home and then creating a compelling listing.
The appearance of your home will matter immensely to serious/motivated buyers, so you need to do everything you can to make it look its best. Begin by deep cleaning and de-cluttering and then make necessary repairs and updates. “For instance, you could update your kitchen with new cabinetry, countertops, floors, and appliances. Other important areas of repair include the plumbing, roof, heating and cooling, and foundation repairs.”
And don’t forget the outside of your home the curb appeal to create a great first impression. The outside of your home is the first thing buyers will see, and you don’t want to put off a motivated buyer with an exterior that isn’t in tip-top shape.
When your home is ready, you’ll then need to create an impressive listing that will appeal to and bring in motivated home buyers. Remember: over 90% of home buyers go online when searching for properties. So you’ll need a compelling listing along with plenty of professional-quality listing photos that present your home in its best light.
3. Work With an Experienced Agent
A good local agent will specialize “in your property type and neighborhood is crucial. From legal issues to marketing and promotion, the agent will guide you through the home selling process and save you time and money.”
Perhaps the greatest benefit of working with a local San Francisco agent is that the agent will have an intimate knowledge of the area where you want to buy, possessing “key information and knowledge about your area. “
For example, neighborhoods can change fast in San Francisco. For example, San Francisco is about is 47 square miles with 118 neighborhoods according to Wiki. That means for every 1 square mile there is about 2-3 neighborhoods. Talk about fast changes!
Through their network relationships, they can help you identify serious buyers, key selling points, demographics, and price points in the area. The agent will also advise you on both improvements and improvements to avoid to help save you money and optimize the selling price for your house.
Buyer Who is Going Solo
Why work with a Realtor? A potential buyer going solo probably isn’t a serious and motivated buyer. The main reason? “Because a buyer’s agent commission is usually covered by the seller, a buyer can work with an agent and receive advice and guidance at no cost.”
This means, when a home buyer is looking for a home, to settle down, the Realtor is a consultant on your side. The Realtor listens and helps you find that upgrade that you are envisioning. The Realtor will go over contract terms, home inspection, and title reports to save you heartache down the road. Also did I mention that the Realtor only gets paid by the seller once the house transfers ownership?
Where to Find a Great San Francisco Agent
A quick way to find a quality agent is to go to a premier agency known for its quality real estate agents, like myself. If you’re ready to sell and want to target motivated home buyers in San Francisco, then contact me today at 415-830-1423.
