by Duane Egyud, Realtor & Buyer Agent with the Queens Home Team at Keller Williams Realty.
What are the ABC’s of Buyers? It is essentially the way Queens Realtors ranks potential home buyers. It seems pretty straight forward, though for the sake of clarity I would like to discuss this for a moment. First off, I love home buyers! This cannot be said for all Queens Realtors. Unfortunately I have heard some rather negative comments from others describing buyers and it mostly comes from certain frustrations surrounding the prepared-ness of buyers and expectations set.
An ‘A’ buyer is rarely a problem to spot. They are ready to buy yesterday. Now I don’t just mean they have a pre approval in hand and want to see properties, I mean they have shed any apprehension about the largess of undertaking the responsibilities of homeownership. They see the all the benefits creating equity in their life and understand what they can have and what they cant and are excited about it. You take them out after doing your Buyer Consultation knowing what it is they want, show them a handful of properties that fit their needs and they put a competitive offer on one of the properties understanding the current market after our consultation, get it accepted and move forward with an eye on the finish line, or closing table, if you will.
‘B’ buyers need more time. They are looking to buy in a few months. In some respects these buyers are the ones who cause most of the frustration because they can appear as ‘A’ buyers with their pre approval in hand and wanting to see properties. Except, there is no real urgency for them to buy. Sometimes they want to see everything on the market before they make a decision, then wonder why the third property we saw that first day is no longer available a month later. Also, even though we’ve done a Buyer Consultation, little things begin to pop up in the discussions after viewing a property that didn’t come up in a consultation. They didn’t like the light fixtures, or the color of the walls, needs more work, not on the right floor… In essence, they become picky over little things they can more often than not change themselves. Frustratingly, when asked what their deal breakers are, none of this came up. All it really means and what it tells me is they are not ready to buy yet. They need more time, they just don’t realize it and it is my duty to gently get them to recognize this so we no longer spend each others time unproductively.
‘C’ buyers are the ones that are looking to buy in 6 months to a year. They have begun to peer into the websites searching for what they think they can afford. They may call (if they are smart)
and inquire as to what the process is if they are a first time buyers and find out what they need to do to become an ‘A’ buyer. Often, here, I see that the spirit is willing, but their financials are weak. That is okay though, because they are just beginning their journey and are working on what needs to be done to get them to that closing table. It can be a sobering moment in the process, though with focus that moment is the tool that springs the ‘C’ buyer into action.
In the end, it doesn’t matter which kind of buyer you are (A, B, C) so long as you are self aware and honestly acknowledge what kind of buyer you are. The important thing is that you be a
smart buyer. Find and ask a Realtor you can trust to help you understand the process, as well as the market and who can give you good advice on how you can overcome the obstacles preventing you from being able to reach your goals.
Good luck and Happy Home Buying!
Site and blog courtesy of George & Abigail Herrera with the Queens Home Team at Keller Williams Realty Landmark II.