Use these buyer consultation questions to distinguish the lookers from the buyers in a competitive market.
Today we are going to talk about buyer consultation questions that will help you separate “lookers” from “buyers.” The market is changing, and we need to adapt. This includes adapting the questions you ask buyers during your buyer consultation to qualify them and prepare them for action.
VIDEO: Buyer Consultation Questions to Ask in a Competitive Market
How effective is your buyer consultation?
We coach all of our clients to have a buyer consultation with their buyer leads. It can be in person or on Zoom — it doesn’t matter. The important factor is having this consultation and establishing expectations and goals, as well as uncovering your client’s motivation. Using the ICC Buyer Lead Sheet during your buyer consultation will walk you through all of the important questions you should be asking.
Buyer consultation questions / talking points to add to your Buyer Lead Sheet
- “We’re going to go look at this house. The list price is [$XXX,XXX]. [CLIENT’S NAME], have you ever been to an auction before? When you go to an auction, there’s a starting point, and then it goes up from there. A lot of people will be bidding, and the price goes up. That’s the same way we are treating making offers in this market. Are you okay with this approach?”
- “In this current market, sellers are not inclined to fix anything in the house once you go under contract. So, here’s what we can do. I have an amazing vendor list. We can do a one-day home inspection. During the inspection, we’ll have a checklist of things that need to be fixed, and we can reach out to my trusted vendors to get these items fixed for you.”
- “If we get a house for [$XXX,XXX], it may appraise for less. This will probably happen. There will be a gap. The seller won’t pay for it. Are you willing to pay this amount more than it appraises?”
- “I need your proof of funds. We need to submit this with the offer in order to be more attractive.”
- “We’re going to close on a house, and then the people who are living there are likely going to rent it back for 30-60 days. Are you willing to make this sort of arrangement?”
These are important questions that need to go in buyer consultations in 2021. A lot of real estate agents complain about their buyers in this market. By using your updated Buyer Lead Sheet, you can separate “lookers” from “buyers.” A lot of agents work with “lookers” and it drives them crazy! It’s possible to weed out these less serious clients by performing a proper buyer consultation (and by asking the right questions.)
Buyer Lead Conversion – our online course
Learn how to leverage your networks to get buyers on your side. And, learn the essential buyer consultation questions to ask! We’ll give you buyer agent motivation, and teach you all the tips, tools, and techniques you need to address buyers’ unique needs. We’ll help you get them in the door for a proper appointment, make the most of your consultations, and get them on board as your clients.
Want to learn more?
- Take our online course, Buyer Lead Conversion.
- Subscribe to The Real Estate Trainer Podcast. You can find it on Apple Podcasts, Google Podcasts, Spotify, Podbean, and anywhere you listen to your favorite podcasts.
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