Hi everybody and welcome back to the show. In this episode, I’m going to share my top 5 buyer qualifying questions plus help you avoid the most common mistakes agents make when talking to buyers.
You only need to ask 5 questions to qualify your buyers and I’ll get to them in a sec, but first hear me out on something really important.
In my experience working with buyers, especially unqualified buyers is the fastest way to ruin a Real Estate career.
I see so many newbie agents focus on buyers because finding buyers is easier than finding sellers, and for some reason, new agents think it will deliver the same rewards. Big mistake.
Now at the same time, I know some agents specialize in working with buyers which is fine as long as you’re set up correctly to do it, but I’m approaching this episode from my traditional viewpoint as a listing agent which is where the big money is made in Real estate.
If we all agree that time is our most precious resource, then why waste it working with buyers who are not ready to buy?
I know many agents (especially rookies) struggle to manage their time and are easily distracted with a buyer who may or may not be ready to go.
But what if we could quickly qualify our buyers with 3 questions to help us make that time investment decision and help them out at the same time.
What if you could provide great assistance without wasting your time on someone not even close to buying?
And there’s another very important factor here that will cost you big money if you fluff it up; What if the buyer is also a seller?
If you turn them away, then you’ll struggle to become their listing agent.
I came up with these four questions as a way to train my team during a busy open home where there could be 20 to 30 buyers in a property at any one time and you need to quickly find out who is serious who is a seller and who is just kicking the tyres.
I’ll get to the qualifying questions in a moment but there’s something you need to do first.
Write two or three blogs on your website so you can refer buyers to them when you let them down gently.
If you don’t have your own website and blog, you need to get one because it’s the FASTEST way to get found online and you’re naturally going to link your Google Business Profile to it which will get you even more traffic.
Your articles will be something like:
- 5 things to look for before you buy in (your area)
- A Buyer’s Guide to (your area) real estate
- 12 buyer tips for buying real estate in (your area)
- 3 success stories from buyers in (you area)
These blogs will also help MASSIVELY with organic search.
You need to blogs because you’ll be referring your B class buyers to them so you can continue to help them on their purchasing journey.
In fact, at jigglar.com you can quickly customize a multi-page The Ultimate Homebuyers checklist then have it available as a download.
Okay, so here are the 3 buyer qualifying questions:
- Okay great, I love working with buyers. Let me grab your contact info so I can keep you up to date with new listings that fit your criteria.
- How long have you been looking?
- What have you seen that you like?
- Have you made any offers?
- Do you need to sell a property?
At this point, you’ll be able to assess if the buyer is also a seller and act accordingly.
Here’s another great question to see where they’re at in the buying process: “Have you lined up a good mortgage deal? I can refer you to an excellent mortgage broker if you like”
So by now, you know if they are ready to buy or not.
But here’s the thing: Most rookie agents just can’t say “no”
They agree to take the buyer around to homes they can’t (or are not ready to) buy and burn daylight when they should be prospecting.
They do the easy, non-productive actions that have way less chance of getting results instead of investing their time wisely in quality, solid prospecting.
So, let me ask you a question: are you not better off investing time to win a listing in which case all the real buyers will come to you anyway?
In fact, if you’re making notes, write that down …When you get a listing, the ‘real’ buyers come to you.
So after asking your qualifying questions, you’ll know if your buyer is ready to go or not. There are no ‘maybes’ here.
If yes, then great. You know what you need to do.
If no, then why not grab their email and send them a link to your blog to help them get ready to buy.
You have a heap of options here.
The mission is to quickly establish if a buyer is ready to go and worth investing time in.
There are plenty of ways to help a buyer if they’re not ready to buy.
The most important thing is to make sure you add them as a contact into your database. Remember, you’re in the relationship business and you never know who will be referring you a listing next.
Keep in mind, as your database of new contacts grows, the possibilities and opportunities are endless!
Thanks for joining me today. You’ll find these questions in the show notes for this episode at TopAgentsPlaybook.com
Also, let me tell you about some recent episodes that are most popular with listeners.
Episode 192 has gone off like a frog in a sock. It’s called The Top 5 Ways To Attract Listings. And it’s an interview with my good friend and super agent Trent Pool
…and episode 182. From Zero To 60 Sales A Year. An Interview with Gizzelle Powell. I get so much great feedback on that one.
If you’d like to connect, just search Ray Wood Bestagents on Facebook
Raywoodlive on Instagram or send me a message via the contact button at TopAgentsPlaybook.com
So, until the next episode, dream big and take names!