5 types of buyer you should avoid

Real estate agents’ eagerness to close a sale sometimes make them overlook unmistakable signs that the buyers they’re dealing with will never actually complete the purchase.

Wasting time with this type of client not only leads to a considerable loss of money, it also leads to a loss of trust and credibility among the other parties involved in the transaction: builder, real estate developer, financier…

To tackle this situation from the start, we are going to describe the 5 types of buyer you should avoid:

1. They request a discount before even seeing the villa

New development properties are very different to second hand homes, which are often put up for sale privately without the participation of a real estate professional. In this type of transaction, the lack of a professional market study means that the sale price advertised tends to be quite a lot higher than the real market value.

The price of a new development villa on the Costa Blanca, however, is the result of adding the production costs to the costs of materials, licences and, of course, marketing. An amount which has been fully studied and set in accordance with the reality of the market in the area.

If a buyer requests a discount before even seeing the property, you can be sure they are not the right buyer.

2. They’re in no hurry to buy

Obviously, everyone has the right to receive correct real estate advice, this is even the case for people who are still just testing the waters.

You may find foreign buyers who are making the most of their holidays on the Costa Blanca to obtain information on the purchase process in our country with an aim to making a purchase in the medium to long term.

Bear in mind that you will harvest tomorrow what you plant today, so it’s always important to provide professional advice at each and every stage of the purchase process.

* You can provide your buyers with our Guide to Life on the Costa Blanca to help them choose the location of their future property.

However, understand that you should shy away from buyers who seem to be very sure about everything, and even press you to arrange and carry out viewings, yet when they find a villa that meets all their requirements they acknowledge that they’re not yet ready to make the final decision.

3. They play at being real estate consultants

They’ll tell you how you should negotiate, show the villas, inform them on the process and they’ll even have an opinion on the fees you should receive as a real estate agent.

They may be buyers who are trying to take out their frustrations on the real estate agent after failing to make a purchase on their own. They may not have managed to find a new development property to meet their requirements, or they may have got lost in the heaps of procedures involved in this type of transaction.

This frustration makes them constantly question and argue over the real estate agent’s work to the point of creating a truly uncomfortable situation.

In this case, you have two choices: either you set out the foundations and the value of your work from the beginning, or you try to untangle yourself from this type of buyer before the situation becomes unsustainable.

4. They can’t agree among themselves

Many of the transactions you will be involved in will be carried out by couples.

This type of client doesn’t always manage to agree to begin with: one of them wants a property in a quiet mountainous area while the other prefers the warmth of the beach, one wants a big outdoor pool while the other wants their own gym.

Villa Tee,10 minutes from the beaches of Finestrat, Villajoyosa and Benidorm

One of the tasks of a good Costa Blanca real estate agent consists precisely of managing to reach an agreement between them: analysing each couple’s needs and possibilities and reaching a deal that benefits them both.

However, sometimes this deal is never sealed and the agent goes from being a real estate professional to a sort of relationship counsellor. It’s best to leave the playing field before reaching this point and let the couple reach an agreement among themselves before they come looking for our services.

5. They complain about everything

The chosen villa seems to meet 99% of their requirements: location, specifications, price… However, when the moment of truth arrives and they set foot in it for the first time, they complain about everything: the living room seems too small, it doesn’t have a barbecue area, the beach is quite a long way away… Wasn’t your buyer aware of these details before arranging the viewing?

If you come across a buyer of this type, don’t waste your energy trying to convince them that the property you have showed them was what they were asking for… they might not even be entirely sure what they’re looking for themselves.

* Did you find this information useful? If you’re a real estate agent and you would like to receive tips and stay up to date on everything to do with the Costa Blanca real estate market, sign up for our newsletter.

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Filed Under: Real Estate Agents Costa Blanca Tagged With: buying a house on the costa blanca, buying villas on the Costa Blanca, foreign buyers on the Costa Blanca, managing viewings, villas on the Costa Blanca

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