When it comes to selling a home, buyers come in all shapes and colors. Many buyers in today’s market may aggressively purchase a home with little to no hassle and little work on your end whereas some buyers will come in with trepidation and more questions than you’d like. In either case, you’ll experience both types of buyers as well as many that are in between.
Indeed, your buyers will come with plenty of questions of their own, but part of your job as an agent is to meet buyers where they are, lead the conversation, and ask questions to make sure you understand everything your buyer is expecting and what their needs are. Here are some of our top questions you need to ask buyers.
Ask About the Real Estate Market
Perhaps one of the leading questions when speaking to a prospective buyer is asking them about the real estate market. You can glean quite a bit of information about potential buyers by asking this question as it usually opens up a dialogue between you and your buyer and gives you a good foundation for your buyers’ understanding of the current marketplace.
It’s no secret that the real estate market has seen some big swings in any number of directions over the past handful of years, but in an ever-changing environment, knowing what you’re up against in terms of a buyer is critical for how and where you lead them. Many buyers may understand that housing prices are high and interest rates have gone up, but it’s your job to help them understand why and help them make the best decision possible.
Ask About Their Future Plans
Knowing how long your buyers are looking to live in a home or in an area will give you even more information about them while starting the process of building rapport. Perhaps your buyer hasn’t even considered how long they’ll live in the home they’re looking to buy, but they’re certainly going to give you an answer once you ask.
Allowing a buyer to give you a timeline not only shows their commitment to the home purchasing process but it gives you an idea of where you can start with homes and price ranges. A buyer purchasing their first home will likely live there for a few years and either remodel or upgrade homes entirely. Knowing this information can help you lead their buying journey toward homes that fit that mindset and give you an idea of where to start.
Additionally, by knowing their future plans, even if they’re not set in stone, you can touch base with them periodically down the road to see if you can be of service for finding their next home!
Ask About Financing and Financial Plans
Perhaps the biggest thing that can derail a home transaction is a buyer who is either buying more house than they can afford or a buyer who isn’t certain how they’re going to pay for their home. And while it may seem a little overbearing to ask about finances on a first date with a buyer, it’s absolutely not unreasonable. In fact, you can be a better agent for your buyers if you know what budget you’re supposed to be working in.
Knowing how far along a buyer is in their borrowing process also shows you how committed they are to buying a home and how soon. This is a place where, as a seasoned real estate veteran, you can continue to steer the relationship towards an end result that is both profitable for you and affordable for your buyer!
