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When Does a Prospect Become a Client?

Real Estate Agent with Jones & Co. Realty 239-333-5556

When dealing with prospects, real estate professionals should have a list of criteria they must meet in order to become a client, taking into consideration the amount of time and effort spent on each transaction.

To avoid wasting time and energy, real estate professionals should gauge the buyer or seller's motivation by determining when they plan on moving; and they should find out whether they have the financial resources to close the deal by requiring them to provide a pre-approval letter from a lender or meet with the agent's lender.

Real estate professionals should also determine whether the prospect has reasonable expectations, respects their time and expertise, tells the truth, and does not pose a moral or ethical compromise.

Finally, try to assess whether the prospect could become a satisfied client and whether the commission to be earned is appropriate for the time and energy they will commit to the transaction.

Harrison K. Long
HomeSmart, Evergreen Realty - Irvine, CA
REALTOR , GRI, Broker associate, Attorney

Andrea ... Thanks for this post and and reminder for us to be thinking about the prospect, whether and how he or she can be developed into a true and positive client relationship.

Jul 17, 2009 07:42 AM
Sarah Maus
Charles Rutenberg Realty - Land O Lakes, FL
Your Florida Suncoast REALTORĀ®

Love this post Andrea!  Short, sweet and to-the-point!

Mar 14, 2010 08:54 AM