Top 5 Questions to Ask Potential Property Buyers
It doesn’t matter whether you are selling the property yourself or using the services of an experienced real estate agent, it pays to ask your clients a few questions. The thing about this industry is that you will find a plethora of articles and advice pieces that tell the client what he or she needs to do when buying their first home. These articles will show them how to find the right house, the right realtor and all the questions they need to ask. Very rarely do you find an article that is focused on telling the seller what they need to ask the buyer. Strangely enough, as ignored as this subject might be, it is extremely important for every seller to ask buyers some insightful questions during the sales process.
This will give them a better idea of what is driving the client, what they are looking for and how best to help them find the right house; one that suits their particular needs. It is these sorts of things that cement you as a wonderful real estate seller in the market. Property investor, Rick Otton, who is quite famous for his annual training events in the UK, sums this up as “selling an idea, and not a proposal”. One satisfied client is likely to tell almost every single one of their friends about how good and helpful you are to those who are looking to buy their first house.
With that in mind, here are a few insightful and helpful questions that you can ask your next first time home buying client.
1. Why are you buying and why now?
One of the best ways to tailor your services to your client’s needs is to find out what is motivating them to buy. Maybe they are moving to this location or are looking to start a family; maybe they want to buy so that they can rent it out or maybe they just came into some money and figured this would be the best way to spend it. Unless you know what is driving them, you might not be able to find them the right house.
Besides, it will show you what kind of client you are dealing with in the sale. People who are intrinsically motivated to own a home are more likely to do everything in their power to make it a success. This makes them easier and better to negotiate with as far as pricing is concerned.
2. Do you have a suitable lender?
In many cases, first time homebuyers will be working with a lender. Asking them this question will give you some insight on how they intend to finance the purchase. It also gives you an opportunity to refer a few reliable lenders you may know just in case the client doesn’t have one yet.
3. What would you do if we found the perfect house today?
This question gives you an insight on just how prepared your client is to buy the house. Most first time buyers have the notion that the purchase process will take time. In many cases, it does. But it is not uncommon to find clients who are willing to close immediately as soon as they find the right house. It also gives you an opportunity to explain escrow and the whole purchase process just so you can mentally prepare your client.
4. How many houses have you already seen and which ones do you prefer?
This gives you good insight on how experienced they are in the real estate process. It also shows you what kind of houses they have in mind and a little bit about their price range and how far they are willing to go.
5. What could be a deal breaker for you?
Once you know their deal breakers, it will save a great deal of time when looking for their ideal home. Maybe they do not want anywhere with a lot of traffic; maybe they can’t stand close quarter neighbours; maybe they simply must have a front and backyard. These are things you need to know about your client before you start looking for the right house to sell them.
Every single one of these Top Questions to Ask Potential Property Buyers gives you an insight on what your client wants, how prepared they are to make the purchase and what you can/can’t successfully sell them. It is a great way to save time, effort and acquire an extremely satisfied client who will give you great recommendations.