Property buyers shouldn't get to ask all the questions. When you're done answering their questions, it should be time for them to listen to yours. In fact, your questions would be crucial because it's usually what makes the difference between an unnecessary meeting and a deal-making one.
Getting to know what your prospective client really wants can go on for too long if you aren't careful. These 10 questions and help you get straight to the point while understanding your client better.
1. Why are you buying now?
You should be asking your real estate client why they are buying or selling property at that time. Knowing your client's intentions can determine how serious they are about acquiring a property. For example, if your client says that they are retiring and need to be closer to family afterward, this makes a tangible reason to move.
Then, you can assume that they are really serious about acquiring the property. On the other hand, clients can also come up with weak reasons that don't show a great desire to acquire any property. If the reason for a buy is weak, it doesn't mean that the client doesn't need the property at all. But it can be a pointer to the fact that it's not of high priority.
2. Can you describe your ideal home?
In addition to why your client is buying at the moment, this question also helps to know how much more serious your client is. If your client can describe what they want, it gives you an idea of their preference. Since you have an idea of what they want, the chances that you'll be able to waste no time in looking for the most suitable options for them is higher.
3. What would you like to have in your home?
Regardless of how similar some questions might be each one reveals something slightly new to you. And usually, it's about digging deeper into your client's preference. Knowing the spaces that your clients love the most can sometimes help you with an idea of the kind of home they want. For instance, if the client is an architect and loves to spend most of his time in the studio. Then, you know that he probably wants a fairly large room in a quiet zone.
4. What is an absolute No?
You'll meet clients that aren't sure about what they want. So this question works perfectly for them. If they can't tell “I like a large batPhroom”, or “ I like to have social gatherings in my home so I might require a large space” and things like that then, this question is your best bet at getting into their head.
The idea is that if they don't know what they want, they should know what they don't like. And this method works most times. It quickly eliminates possible conflicts. Although it still makes your task difficult that you don't know exactly what they want, you're definitely not putting something that's totally out of order forward.
5. How long do you plan to live in your next property?
Whether your client intends to live for a short time or a little longer can give you an insight into how ready the client is to take a home. It's more likely that a client who's looking to live in the property for a short period would not mind neglecting some spaces they would love to have. For instance, they can neglect the absence of a swimming pool since they won't be staying for too long. However, a client who wants to stay in the property for a long time would be looking closely at a perfect fit.
6. What's your budget? How much do you intend to pay in Monthly Mortgage?
Not every client that approaches you is ready to buy now. Some of them could just be making inquiries about future home-seeking ambitions. It should be up to you whether you have time for a long-term house hunt or short term one.
And this question can be your best shot, especially you don't have time to waste on a deal that might lead nowhere. However, if there's a budget, you can lead your customer in the best direction. Many people don't like to stray from their initial budgets. So it's either they take what you offer for their price or there's no deal.
At other times, clients can compromise on their budget if there’s a major deal maker on the home or property you're offering them. So you might want to go ahead to ask what it takes for them to change their mind. You might already have an idea of this by knowing their favorite parts of the property.
For example, if your client loves a big patio that could serve entertainment purposes, you should ask them. It can go something along this line, “What would you have in the building to make you pay more? A patio?” Some clients might be willing to increase their budgets for certain features they love.
7. Are You working with a Lender?
If your client does not have a pre-approved loan, then, something is wrong. It means there's more that they need to know about the process for purchasing a property. At this point, you can suggest a good lender to them. They should be delighted at the nice gesture. Not having a lender could also mean that your client isn't as ready to purchase the property as you think
8. How Prepared are you to pay additional fees?
Not everyone knows that real estate properties also include other fees aside from the actual worth of the property. So this question will make them aware that there's some more to be paid and can determine whether the deal continues or breaks down.
As a tip, it's actually better to give clients price ranges considering the additional fees rather than the standalone prices of the properties.
9. How would you like to communicate?
You can assume this and contact your client just the way they got to you. However, it shows a certain level of concern for your client when you ask this question. Also, the way they contacted you might not determine how they wish to communicate in the long run. This is important because you can only have good communication with a client when it's through a means that is most suitable for them.
10. When would you like to move in?
This is like another readiness test for your client. If your clients are keen on moving into the property soon, then you might be close to a successful deal. Although it's not likely your clients are ready to move in that very moment, some clients could be more prepared than others.
With these 10 questions, you can tell how serious your client is about acquiring a property. You can also decipher what they really want in their future homes and put the best deals forward to them.