So, you’re sitting on floor duty and a potential buyer walks in the door and ends up sitting across the conference room table from you. What’s next?
Well, some would have you whipping out your Buyer Questionnaire and interviewing your buyer prospect as to exactly what he’s looking for in what time-frame at what price range and oh, yeah, if he’s approved for a loan and oh, yeah some more, here’s an exclusive buyer agency agreement that requires your signature.
I disagree with this approach.
Calm down. Breathe. This person is a guest in your office, so be polite and make him feel welcome. Warmly introduce yourself. Offer some coffee or water. Once you’re comfortably settled in, just make conversation with him as you would with anyone you were having a conversation with!
Calmly ask what sort of home he’s looking for. Take notes if you like, but it’s not necessary at this point. Let him talk. Ask questions from time to time, but no interrogation or formal questionnaire, please. There’s plenty of time (or not) for that later. Right now your goal is to build rapport and trust, and, soon, to demonstrate your expertise. Rapport and trust are best built through listening, not talking!
Here’s all you really need to know during this first conversation:
- What sort of property he’s looking for
- What type of neighborhood he’s interested in
- If he has a price range in mind
- What his general time frame is
- If there is any very specific must-have on his list (e.g., school district, RV parking, non-restrictive zoning)
You don’t need to ask exactly how many bedrooms and bathrooms he wants. Whether or not he needs a garage. What his minimum square footage requirements are. Not even whether or not he’s spoken to a lender.
Again, there’s plenty of time for that. Don’t chase him off at this early stage before he’s grown to like and trust you.
Buyer Questionnaire?
So after you’ve built a little rapport and the buyer seems to want to move forward, is now the time to whip out the Buyer Questionnaire?
No. Frankly, I’m not a fan of buyer questionnaires at all. I believe you can discover everything you need to know about a buyer from having a regular conversation with him. The problem with questionnaires aside from the fact that you don’t need them is that they’re way too comprehensive.
Huh? What do you mean, “too” comprehensive?
Most people don’t buy houses very often, so they don’t really know what they want aside from a very few Must-Have criteria (and even those are subject to change). Believe it or not, it can be counterproductive to attempt to nail down exactly what a buyer is looking for because he doesn’t know! But if you force him to answer your questions, he might make up answers just to please you.
Why is that a problem? Well, you might end up ruling out homes that the buyer would have liked but that didn’t quite fit what he said he wanted during your interview. Another possibility is that you create expectations in your buyer’s mind that you can’t possibly fulfill given his price range or location preferences.
So, try tossing the Buyer Questionnaire out the window and just having conversations with your buyer prospects. I think you’ll find this approach to be a far more productive way to build rapport and get to the next step – showing houses to your new buyer client!
Guest Author Jennifer Allan-Hagedorn has authored multiple books and courses designed to teach agents her Sell with Soul philosophy that centers on four interrelated principles: Respect, Competence, Confidence and Enthusiasm. The latest release of her book is available in the VanEd bookstore. You can also visit her online at www.sellwithsoul.com or attend one of her free teleseminars on a variety of topics of interest to the real estate community.
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