What is a “really good buyer”???
I am constantly being told by brokers bringing in offers on my listings that they have “a really good buyer”. What is the definition of a really good buyer? Based on closing over a BILLION dollars in investment property, here’s my definition of “A Really Good Buyer”…
A really good buyer has the following traits:
Strong focus: They stick to the task of acquiring the property
Speed and Agility: They react quickly to information and don’t cause delays
Decisiveness: They make a decision. Not every property fits every buyer. If it’s not a good fit, they let it go and don’t tie it up longer than necessary
Strong Support: They have an attorney that knows how to turn around a contract, review due dil info and get a deal closed
Financial Means: They have adequate means to pay cash or finance the property. (they don’t have to go raise money on a wing and a prayer after the contract is signed)
Patient: They understand that there are surprises sometimes. They know that problems can often be solved if they have patience while others work hard to solve the problem
Pleasant: They treat the people they are working with respect and appreciate the effort
Fortunately there are a lot of really good buyers out there. It makes our job fun!
Peter Colvin: Chairman, Sperry Van Ness National Single Tenant Group
