How Well Do You Know Your Clients

How Well Do You Know Your Clients?

Can you sell a home to a potential client by just knowing their name and the amount they are willing to spend? Of course not. And even if you could, it wouldn’t be the most beneficial way to conduct business, for you or for them.

Despite all the technology around us, Real Estate sales remains a high-touch business. It’s important to take the time to get to know your potential buyer, and all information that will help make the process quicker and more enjoyable for them — so you can close more sales, and get more referrals.

There are many different ways to gather this information: Buyer assessments, buyer questionnaires, and needs analyses are 3 popular buzzwords.

How Well Do You Know Your Clients

Whatever you choose to call your info-gathering technique, you should have it prepared for every potential client you meet, and it should contain all of the crucial points that will help you locate the best options for them.

Personal profile

When it comes to creating a personal profile, being thorough can make your job much easier.

Make sure to gather your clients’ contact information as well as their preferred method and time for contacting them. For example, these days it isn’t unusual for clients to prefer texting, so be prepared to offer that option to them.

Besides knowing the main buyer, you should also take a few extra seconds to gather the names of any others who may be living with them in their new home, including children, parents, or even grandparents.

Motivation

There are many possible reasons to purchase a new home, like needing more space for a growing family or relocating for work. Knowing your potential clients’ motivations up front will help you better understand their needs and even their objections should they arise.

Some questions you may want to focus on are:

  • Why are they looking to move now?
  • Do they have an obligation to sell or get out of a lease?
  • Will this be their first home purchase, or have they bought real estate before?

Clients will appreciate how thorough and interested you are, and every answer you get is another step closer to a sale.

Housing information

This is the part you’ll be best at, but don’t discount the details.

Ask what they would change about their current home if they could. What features do they consider to be must-haves? What features are deal-breakers? Are they looking for a specific part of town or school district? And don’t forget to ask what might be the best time of day to look at potential homes.

Financial information

Financial information is very important in how you prioritize your clients, therefore it is best to gather this information thoroughly and quickly.

You’ll want to know if they are pre-approved for a specific amount, or if they haven’t contacted a lender at all. What are they capable of coming up with for a down payment? It’s also important to find out the income of everyone who will be on the loan agreement. Be sure to remain honest and tactful while discussing any financial troubles they may be worried about.