Jeson Clarke

How to Know Someone Is a Qualified Real Estate Buyer

As a real estate agent, your job is to bring together sellers and buyers for real estate transactions; however, your real job is to bring together qualified buyers with interested sellers. While there are plenty of people out there who may want to purchase a home, if they aren't qualified, they may not be worth pursuing professionally.

Figuring out how to find qualified real estate buyers can be one of the more challenging aspects of working as a real estate agent. Figuring out how to find qualified real estate buyers is one of the biggest struggles for those starting out in the industry. After you've exhausted all of your connections and everyone in your immediate network, how do find qualified individuals, families and investors?

Encourage Pre-Qualification

Someone who is pre-qualified for a mortgage is a qualified buyer. They have already gone through the process of obtaining a home loan from a bank, and they usually have the funding ready to go when they find the right house.

These types of buyers are easy to work with, so it's generally a good idea to encourage buyers to get pre-qualified. This will make your life easier as a Realtor as well, and it will make the transaction easier for both buyer and seller.

What Does The Credit Situation Look Like?

You might also inquire about the credit score of a potential buyer to help determine if they're qualified. Different loan programs have varying requirements when it comes to credit, so a less-than-perfect credit score is not necessarily a disqualifier; however, the better a buyer's credit score, the more likely they are to be able to secure a home loan quickly.

Do They Have a Down Payment?

Not all mortgage loans require a down payment, but most do. Additionally, a larger down payment may help overcome credit challenges. If a buyer has a large down payment ready to be placed on a home, they may be more qualified than someone with a small or no down payment.

Author Resource:-

Jeson Clarke advises people about real estate, property investment and affordable housing schemes. You can find his thoughts at real estate agent blog.