"I know I'm not really a buyer, but I just wanna see the house!"
So I'm excited to get a call from a buyer interested in looking at one of our listings in Mount Gilead yesterday. "Carlotta" tells me she's already talked with her bank and she can qualify based on her earnings and credit score. Wonderful! I say and smile inside with knowing that I've been blessed by the real estate gods with a ready, willing and able buyer. Oh Happy Day ...
Until we talk a little more ... Oh, you're getting a divorce, eh? And you have a house to sell you say? And you refinanced this house 3 years ago, tapped out all the equity for windows, roof and siding?
I tell Carlotta that she's not really a buyer. The pending divorce will most probably muck up the works and the current home ownership will definately need to be resolved before the bank can approve her.
Carlotta goes on to tell me that she realizes there are a few bumps to her home ownership but "I just wanna see the house so I have an idea of what's out there."
"But Carlotta, it will most likely be at least 6 months or more before your divorce is complete (depending on how much your husband fights you) and then, because your home mortgage is now upside down due to the present market, we'll need to do a short sale. This house you want to see is a short sale and lenders will not consider an offer that is contingent on the sale of another property. So again, you're really not a buyer."
On one hand I could meet Carlotta and show her the house in Mount Gilead, knowing full well she isn't able to buy. This would allow us to get to know each other a little. I could spend time face to face with her and give her counsel on what her options might be. I could talk with her more about short sale. I could let her bend my ear about her no-good husband and how she'll be so glad when it's all over. I could then go back to my office and put her into an email drip campaign and sign her up for my new listings blast. I could stay in touch over the next 6-18 months in hopes that when she is ready, she'll remember I cared and she'll call me to see homes.
But what will I tell the listing agent when she calls for feedback on my showing? Is it fair to get the sellers excited over a showing that turns out to not be a valid showing?
What would you do? (If the house was vacant, I'd level with the listing agent when I set up the showing, but this house is occupied.)
Herb Baldwin, e-Pro, Realtor
, CDPE herb@herbsells.com
RE/MAX Genesis, Mt. Gilead (Morrow County) Ohio, Helping people realize their dream of home ownership in Morrow County (45 minutes north of Columbus) Ohio.
To view any home in Morrow County, call me now at 419-947-4004
See all central Ohio homes for sale at:www.herbsells.com
I would meet with her. I would explain to her that since she is not a willing and able buyer at this point, it would not be a good idea to get a seller hopes up when you know you can not qualify at this point for a home.
Don't you love buyers that are completely delusional about their situations? The other ones that kill me are people with agents that call me (the listing agent) to see the house.
Where is their agent? He can do it!
I would be straight with the listing agent and let her know that when this buyer is ready she may want to look at a listing the she has in the future. It may be an inconvenience for the owner (or maybe not if they work during the day anyway), but when you put your house on the market people who are kicking tires are always coming through. Nurture the relationship with Carlotta and hope for the best. Good Luck!
Ron, Jacquie, and Pam; Thanks so much for your comments. I decided it would be best for both of us to go ahead and meet with her and show her the house. This will give me an opportunity to find out a little more about her situation, to build a rapport, and hopefully to educate her a little about the process she will be going through to buy her own house.
I know it's not fruitful now (and may or may not be in the future), but then again if I DON'T meet with her now I'll probably never have the opportunity to help her in the future. What goes around comes around (or something like that)