How to spot a serious buyer

Australians love property. We peruse it in papers, scour it online and even pop into open homes just to see what’s going on inside.

If you’re selling a property or purchasing one, that can make it a challenge to determine who’s serious about a property, or who is just ‘kicking its tyres’ out of general interest and curiosity.

So how can you spot a serious buyer? Well, that’s a key element in the skillset of a great real estate agent.

But here are some clues about the telltale signs a buyer is seriously interested, and not just window shopping…

They return for a second inspection

If a potential buyer attends a second open home, or better yet organises a building and pest inspection, it’s a clear sign the property has piqued their interest.

That’s not to say they’re quite ready to make an offer, but it does indicate they’re keen to take another step on the path to purchasing.

They indicate interest to the selling agent

A key part of your real estate agent’s role involves reaching out to people who have attended an open home to seek their thoughts on the property.

In the process, they determine whether a buyer is interested, whether this is the type of home that suits their needs, or whether they’re just looking.

A good agent will then work with these serious prospective buyers, liaising with them about your property and giving them ample opportunity to discover if it’s the right home for them.

Along the way, they will keep you updated about all developments, including how many serious buyers there are, what price they’re willing to pay, and any terms and conditions they might require in order to purchase your home.

They’ve done their research

A truly serious buyer is at a very specific stage of the purchasing journey. They’ve done their research on the location, know their budget and understand exactly what they want in the property they seek.

Every time they attend a property that’s for sale, they’re determining whether each of these criteria is met and also whether they can envisage themselves owning that property as an investment or living there.

They have their finance lined up

A serious buyer is searching for property with their budget well and truly locked in. That’s because if they’re really serious, they have already been in contact with their financial institution to start the finance process rolling.

They know how much they have at their disposal and probably already have pre-approval for their loan.

They’ve made a realistic offer

All the above indicates a buyer might be serious about a property, but the major sign is when they actually make an offer in writing.

This offer indicates they’re ready to start the purchasing process if both parties agree on the price and conditions.

A great agent knows the serious buyers

A great agent is able to quickly determine who is a serious buyer and who is just looking when it comes to a property sale.

And it’s a skill that is highly valuable. The sooner you can identify serious buyers, the easier the sales process becomes. It ensures you are negotiating with the right people, who are willing to pay the right price.

That makes selling a property a whole lot less stressful. Every successful property sale requires a serious buyer but it’s determining who that is and how to get them across the line where an agent’s skill comes into its own.

Looking to buy or sell?

If you’re considering buying or selling a property, why not chat with one of our friendly agents on 1300 438 439 to understand the state of play in your local market?

We’re not just about property, but the people and the stories behind it. You can also view our list of currently available properties here.