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Are we making the right diagnosis?

By
Real Estate Agent with Independent Contractor

Are we doing everything we can to prepare and educate our buyers for the home buying process?  Are we asking the right questions during our interview process? 

 How far should we be going in this process?  Do we really know exactly what they are looking for?  There have been agents starting with nothing more than the number of bedrooms and the price range.  How disastrous can that be?  I don't believe you can have too much information about your clients' needs and the difference between those needs and what they may want.  Sometimes needs and wants are not compatible.

Do you ask what their last home was like?  What did they like or dislike about that property? 

 Do you feel it is appropriate to delve a little deeper into their financial situation?  I can't stress this enough.  It can save you a lot of time and avoid enormous amounts of aggravation if you have a clear picture of what they can afford.

 It's a terrible situation to find yourself in when you start showing properties without having a clear picture of what they can afford.  Then later having to start showing them properties less expensive.

 Neither should they be spending themselves into a "house poor" situation.  If they do have you done your job to service your client?

 The buyers' interview could be loosely compared to a doctor asking questions to reach a diagnosis.  You have to know enough to make sure you are headed in the right direction.  Agents need to work on the questions that will make the diagnosis as sure as possible.  Even then we can be hit with surprises, but at least we will be closer to the cure than we would have been with only knowing the price range and number of bedrooms.

 YOU TOO ARE A PROFESSIONAL.  Doesn't your client deserve the best care you can possibly give?  I would love to hear how you might handle buyer interviews.

Comments (10)

Ron Trzcinski, 410-935-5844
410-935-5844 Office - Cockeysville, MD

Dave,

I do try to find more about my clients than house specification requirements.  For instance, I have had clients say that they wanted 4 bedrooms, where in actuality, what they really wanted was 3 bedrooms and another room which could be used as an office.  Having a better picture of what they want makes the search easier for them and for me.

Dec 11, 2009 04:04 AM
Douglas Fischer
East Oahu Realty - Selling Honolulu, Hawaii Condos - Honolulu, HI

Your comment about interviewing the client is interesting.  When we have a chance to actually sit down and talk with a client at length, this can be so very helpful and your suggestions are good ones.  Unfortunately, particularly in more vacation oriented areas, it is difficult to get the interview or "sit down chat".  Many people arrive in town for a very short visit, want to look at some properties and if you can't accommodate them, they are on to the next real estate agent.  So, many times, the interview or "chat" can occur after the property showings.  Although this is not as effective or efficient, a lot can still be learned, and now that you have a little more rapport, might learn even more.

Dec 11, 2009 05:04 AM
Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Dave  Unless there are situations beyond my control I always have an initial interview

Dec 11, 2009 08:30 AM
Pam Dent
Gayle Harvey Real Estate, Inc. - Charlottesville, VA
REALTOR® - Charlottesville Virginia Homes / Horse

It is always best when you have clients who are clear in their own minds what they actually want before they start the looking at homes part of the process.  How many times has it taken actually looking at homes and talking about what they have seem for them to figure out what is really important to them.  You have to listen to what they are really saying and be alert to the motivation behind the words every step of the way.

Also it is important to speak to both partners.  I had one couple arrive to look at homes shere all of my correspondence had been with the wife.  I made appointments to show listings that she had picked out.  Was she ever surprised to get into what she thought was the perfect home only to have her husband say that he couldn't possibly buy a home that didn't have a formal dining room.  She tought a dining room was not important because they only used it at Thanksgiving.  So don't assume that both partners have the same list of wants.

Dec 13, 2009 12:52 AM
Michele Reneau
Certified Staging Professional (CSP) Elite Instructor - Summerville, SC
Realtor, GRI ~ Charleston, SC Relocation Experts Team

Dave-So true. Asking a lot of questions up front can also prevent buyer's remorse. More questions leads to more answers that can lead to better buyer education. The more they know, the more confident they are in their buying decision.

Dec 14, 2009 02:40 AM
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Dave-a buyer "interview" is always the first thing we do.  It doesn't always have to be in person.  Most people I work with are at minimum "warm" leads and as such we have already exchanged emails, texts msgs or phone calls before we ever see the first house.  By then I generally have a good idea of what they are looking for.  Then it is a matter of narrowing down the must haves from the want to haves. 

Dec 17, 2009 09:38 AM
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Great tips. Thanks for sharing.

Dec 18, 2009 02:48 AM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Dave * so many of our buyers are coming from out of the area so checking the property listing they just sold may be a good idea.  I've had tenant prospects actually pull the MLS listing of their old home from their moving paperwork....

Dec 21, 2009 10:09 PM
Dave Shockley
Independent Contractor - Waynesboro, VA
Putting my clients needs first Roy Wheeler Realty

Wallace that is a great idea thanks for the post.

Dec 22, 2009 01:46 AM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Dave - Around here, many Realtors won't show anyone a thing until the buyer has been pre-approved and many won't work with a buyer unless they (the Realtor) personally know the lender.  I actually like it when Realtors call me and ask me about my clients pre-approval and financing terms and conditions.  For some of my clients, their approval is area specific (dpa requirements) and the Realtor needs to know that.

Jan 06, 2010 03:10 PM