How to Identify a Fake Property Buyer

Have you ever had a time when you were dealing with a buyer, and you didn’t quite know if they were real or if they were wasting your time? If you haven’t its all good, I know I have.

So I will like to share my experience by sharing some tips or ways to spot fake buyers. I am calling them counterfeit buyers because they are probably the buyers who will waste your time or not the best use of your time.

Having been in the industry of selling properties for a while, I have been able to work with a lot of different clients, you start to pick up many things that kind of separate serious buyers from unserious ones or people who just want to look at houses. So, let’s jump right into it.

If this is the first time of going through my Article. My name is Ojesanmi Peter, I am a real estate agent in Lagos Nigeria. I have been in the real estate business for over four years now, and I have sold millions of naira of real estates across Nigeria, and when it comes to this topic, I know I will be able to do justice to it.

These are the things you need to look out for and know ahead of time if you should take a second look at this buyer to determine if they worth your time or not.

1. Buyers who don’t want to discuss finances: It’s so interesting to me that people will so interestingly keep the finance part as a secret that they will keep blabbing about the property and inspection.
   When you are purchasing a home, no matter if you are using cash or check whatever the means of payment, you have to talk about money because there is a large amount of money involved.
   So, anybody who is trying to hide their money situation is probably not a true buyer at this time. I have worked with buyers who have lots of money, and they have no problem talking about it also I have worked with people who don’t have much cash probably going to get a loan from the bank, and still, they don’t have a problem talking about it.
   So whoever comes to you and say they don’t want to talk about money, those are some buyers that are probably going to waste your time.
2. This one also catches my attention when a buyer says he’s going to buy property anywhere, except they are investors, they most likely are not going to buy property anywhere because they will be areas where they won’t be able to afford.
   For example, middle class and low-income earners won’t be able to purchase properties in areas where we sell the property for as high as N225,000,000. So buyers who are not specific on their budget and where they will likely want to buy their property are probably not going to buy from you. Serious buyers tend to know where they want to live, they might not know the specific subdivision, but they will have their preference that meets their budget.
3. The next one are buyers who are not willing to follow your process, everything I do in my business is a process, we have step one to step 10. Before going to show someone, a home there are things that need to happen that are in your process, so anybody who is not willing to follow your method is not a serious buyer. Take for instance, if you visit the general hospital you don’t just walk into the doctor’s office you need to fill some forms, do some test, wait at the reception areas etc. before finally seeing the doctor, and when he sees you when you go back and buy some medications, take some injections, this is all about following the process ant this is also applied to then buying a property.
4. Communications key in determining a serious buyer, I know that everyone is busy with one thing or the other, am busy you are working, we are all busy. There is a level of communication that needs to happen when someone is buying a house, even if it’s not the person making enquirers that is going to buy the house, there are most times a representative that is a middleman between you and the buyer, so anyone who gets all this information must communicate with you the agent. Some buyers get a little information and just go off without any mail, calls or visit.

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