If you're a real estate agent, you know that one of the most important things you can do is weed out tire kickers from serious buyers. These are the people who casually look at homes and never make an offer, wasting your time and preventing you from finding a genuine buyer. Here are four red flags to help you identify these people.
1. They don't ask for a showing
The number one thing to look out for is if the person you're dealing with doesn't actually show any interest in viewing the home. If they've been looking at listings and driving around but never ask to see inside the property, then they're just a time-waster that's taking up your time without being serious about buying a house.
2. They have difficulty getting financing
Another tip-off is when someone has difficulty getting approved by a lender or qualifying for a loan. If they can't be eligible, the chances are good that not only will they never buy anything, but you could also be wasting your time by trying to help them find financing options because nothing is going to come of it.
3. They're hesitant to make an offer
When someone has been looking at several homes and always ends up asking you about the price and how much down is required, they're probably not going to end up making a purchase. When people take that much time deliberating, chances are good they will never buy because something will come up in their life to prevent them from buying.
4. They live far away
It's also worth noting if this person lives far away or tells you they can't make it out for another few days or weeks because of their job schedule, as those things indicate that it might be difficult for them to even take possession of the home after buying it. This means that if you go through all the trouble of showing them homes around the area, they might never buy anything.
They're not serious about buying a house. If someone isn't willing to put in an offer after looking at several properties and gives you a long list of reasons why a property won't work, then it's likely that nothing will come from showing them houses. In fact, they probably aren't even interested in purchasing a home to begin with because if they were, this would be easier for them. Hence the name "tire kicker." Those are four red flags to watch out for when dealing with buyers who may not be completely serious about taking action on their desire to purchase a home.