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What to Watch Out For In Spotting a Serious Condo Buyer

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As a property owner who’s looking to sell a house, condominium, land, or any real estate property, spotting serious buyers could be challenging. Working with Real Estate brokers to get better prospects is one good way to start. Social media posting could help but leads may or may not be at par with the network a seller or a real estate professional is looking for.

Sometimes real estate agents spot buyers who pretend they could buy in cash, agents take them to a restaurant and discuss business, pay for the meal—and gone! It happens. Buyers who are ready to make an offer instead of those who are only looking around without intentions to buy might even take months or years to decide.

Ideally, it is great to meet buyers who will buy a property with a few questions asked. Otherwise, funneling down until a closing date is agreed on needs science, and has a lot to do with relationship management.

Get to know the buyer.

Rapport-building is gradual, especially when the listings are pricey. It’s also great to ask questions point-blank. Determine the kind of property a prospect is really itching to buy. It’s important not to miss this because an agent can spend time scheduling multiple private viewing with one person, and yet the buyer prefers buying a house instead of considering the condo living—so much time and resources wasted.

Profiling a buyer can be tricky especially when an agent needs to ask personal questions like if they want to have kids in the future, the number of family members that might live in the property if they’re currently renting, which part of the property will most likely be frequented, etc. It is always good to make clients understand that buying a property should be personal. Asking personal questions is normal to serve them better. Buyers who are asked these questions are also more likely to have the next trait.

They ask good questions.

Buyers who only ask about the gross price of the property are likely not willing to commit. Although it is time-consuming for an agent or a seller, serious buyers ask a lot of questions. It’s a good sign because these more likely have a list of properties they have already seen and are currently interested in. If not, they may have already bought some as part of their business or investments. Inquisitiveness means interest. These buyers are wiser at looking around and agents better get ready to match their knowledge because these are financial-savvy individuals. 

On the other hand, there are those who are called “perennial shoppers”—ones who keep on checking properties, but deep down, they know that they’re not ready for such a big purchase. Unfortunately, they do waste people’s time.

Serious buyers usually say their thoughts out loud about possible renovations or condo design, they would also delve as deeply as the current price of Real Property Taxes. Another good sign, right? Buyers who foresee themselves or their future renters living in the property—serious! These questions come up especially when an agent takes them to a ready for occupancy condo. They’re not exactly going to buy right away, but they are about to take a pick; ready to make a deal and sign paperwork. 

The clear choice of lifestyle or target renters.

Genuine investors or buyers bother themselves about the livability of the property and they would analyze if the property would appreciate over time due to proximity to business and lifestyle hubs. The commute might not be so important to a seller or agent, however, it might clearly assess a buyer’s interest. Some buyers are not looking to live in the property and only plan on earning from property rentals. 

These are investors who know their target market and might have even looked around the area to check the traffic condition before coming over for viewing. Students, working professionals looking for a halfway home, and people who are looking forward to convenience in their retirement.

Most likely, serious buyers have already established their funding sources, have secure jobs, and have finally made up their minds about where to live and the classes of people they plan to associate themselves with. Metro Manila has the highest-paid employees in the country where businesses and businesspeople flock. 

Vista Residences has built condos in cities like Pasig and Mandaluyong like Vista Shaw and The Spectrum with 24-hour security, Fitness and Wellness Gym, Swimming Pool, Function Room. These features set a client's mind at ease and will stop them from second-guessing the value of the property presented.

Serious buyers have their financing in place.

They do not flinch when talking about money and they can even initiate talking about it to bring up payment deals, mortgage loan approval, reservation agreements, etc. Some people are sincere enough to tell an agent point-blank during an open house that they are only looking around. Also, they have proof of funds to show an agent their willingness to be qualified. Say their children prefer to study live in a condo in Manila City where 878 Espana by Vista Residences is located, and they want to have 2 bedrooms. They would prefer to get help in understanding whether they can afford it before signing anything as real estate investment is not like any small purchase.

Non-serious buyers may only ask questions about the selling price and the overall amount without trying to question possible hidden charges or add-on financial liabilities. 

Eagerness.

Serious buyers can be spotted when after hunting for properties, they no longer feel the need to scrutinize possible defects of the property that might come up—these usually are just stalling the closing process after an offer is already accepted and would most likely back out of a deal.

An example of this scenario is when couples look for properties and only one of them is excited. They will find it hard to say yes.

How long have they been hunting for properties?

Clients who have just started looking for properties to purchase might not be ready to decide. Engaging these buyers in a conversation to know how long they’ve been looking around is a wise idea. They need to be asked how many properties they’ve looked at in which locations, and if they’re working with another agent. Buyers who have seen enough properties are likely to sign a deal, they’re only looking into few deciding factors.

Not everyone who makes an offer is serious about the purchase. One who has already committed and signed a Reservation Agreement might still change the decision a few days before the closing. Therefore, looking into behavioral signs sets an advantage in knowing whether a prospect is just looking around or ready to make the purchase. 

It’s good that Vista Residences has a website to show all available projects, so for inquiries that would not require a visit, emails and phone numbers are posted.

If you are looking for a new home and condo, Vista Residences is the best option for you! Vista Residences is the condominium arm of the country’s largest homebuilder, Vista Land & Lifescapes, Inc. that offers rent-to-own, ready for occupancy and pre-selling condominium projects in Manila, Makati, Mandaluyong, Quezon City, Ortigas, Baguio, Cebu, and CDO that are strategically located within major cities, in close proximity to premium universities, transit oriented locations and developed business districts.

At Vista Residences, unit owners can take advantage of the property’s centrality. The properties of Vista Residences are strategically located near the country’s premium universities and CBDs, making them an attractive investment for both local and foreign investors.

For more information on Vista Residences, email [email protected], follow @VistaResidencesOfficial on Facebook, Twitter, Instagram, and YouTube, or call the Marketing Office at 0999 886 4262 / 0917 582 5167.