How We Verify Potential Buyers First, Before Allowing A Showing At Our Properties

  • 06/16/22

 

Do you feel safe selling your home? If you list your home on the open market, it’s uncomfortable having strangers walk around your house, especially at higher price points. However, if you’re too cautious with your marketing, fewer buyers will see your home. That’s why I always trust, but verify the buyer's financial qualifications before allowing a showing.

 

For example, it’s standard practice at luxury prices to verify someone’s income before letting them view your home. Some agents don’t even do this step, but I prefer to trust but verify. When I receive a pre-approval or bank statement, I trust that it’s legitimate, but I always verify with the lender or banker just to be sure. 

 

Recently, I had a showing at a $6.5 million property, and a prospective buyer sent a letter from their supposed private banker. Immediately, I saw tons of red flags. There was no company letterhead, the banker’s email address was a Gmail account, and there was no website. When I pressed this buyer for more information, they couldn’t provide it. Eventually, I asked a banker to verify the routing number, and they confirmed it was fake. 

 

If you or someone you know is looking to sell a luxury property, please call or email me. Even if they just need a second opinion on a buyer’s information, I’d love to help. I look forward to hearing from you!

 

Michael LaFido
Luxury Real Estate Realtor | Author
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Throughout his career, Michael learned the importance of high-caliber marketing versus “traditional marketing”, which has become pivotal to his success. Over the past twenty years, LaFido and his team have developed a method that takes a more comprehensive, and proactive approach when positioning and marketing a home.

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