Before you throw me into the pit of eternal damnation, along with Donald, Bill and other notable misogynists, I am referring to a critical acronym – one that if used to its fullest can help you easily distinguish a buyer from a tyre kicker in less than a minute.
One of the main fears I come across with people who are contemplating selling their own home (both men and women), is dealing directly with buyers.
In boiling down that generalised fear, what home owners are concerned about is how do they tell if someone is actually a genuine buyer?
One little test – a few well asked, unobtrusive questions – can quickly sort the wheat out from the chaff.
If a potential buyer, someone who has enquired on your home and wants to take a look or attends an open home, can’t satisfy this acronym, they ain’t buying anything!
Let’s cut to the chase.
What does M.A.N. stand for?
Even if one of these three components are missing from a ‘buyer’s’ repertoire, not much is going to happen.
Money is the big one.
If a ‘buyer’ doesn’t have access to or can’t put together enough money to complete a transaction, especially a heavy purchase like a house or property, there won’t be a transaction.
Do they have to sell another home? Have they got finance approval from a bank or reputable lender?
Authority can be the most overlooked component.
Even though you may be dealing with or engaging with ‘a person’ who is interested in your property, it pays to find out if they are the sole decision maker, or is there a partner, spouse, friend, closet expert – someone other than the individual you are engaging that will have a substantial say in whether things move forward or not.
Do you have someone else, or are you working on your own to find a suitable property?
Last, but not least – well it has to be last because the whole acronym would suck if Need was placed in the middle. M.N.A. just doesn’t have the right sort of impact. “Have you got MNA?” Sounds like you have half a jar of peanut butter stuck to the roof of your mouth.
Economics 101. People will generally satisfy their needs, before they go after their wants.
Establishing whether or not someone ‘needs’ to buy your home is paramount. They might want to, however that is not motivation enough.
Have they recently sold another home and ‘need’ to get into their next one as soon as the other one settles?
Is their lease expiring soon on their rental and the bank has just approved them to buy?
Does that new job they have moved for start soon and they don’t want to live in an onsite van?
As you can see, a few gentle questions can uncover so much about a buyer without making them feel like they are being questioned by the F.B.I or A.T.O.
Drilling down into M.A.N. saves a lot of time and potential wasted effort when you are selling your own home.
You probably won’t be able to leave home without it.