Create a Buyers Questionnaire - Real Estate and Technology News for Agents, Broker

Create a Buyers Questionnaire

The key to successfully working with a buyer is to know their needs and wants. To do this takes a little investigative work - Perry Mason style. The best method, according to Alisha Alway Braatz of Inman News, is to create a Buyers Questionnaire or a "Buyer's Guide" "A Buyer's Guide sounds less intrusive and superfluous," says Braatz, "especially to the guys!"

Format your Buyer's Guide to be a multiple choice and fill-in-the-blank worksheet. Braatz uses 14 pt. type, so no one has to find reading glasses and adds lots of white space for long answers.

Get as much information up front as possible. Especially contact information including address, phone numbers, emails and Mortgage Company if applicable.

"Also, you might just want to ask now if you are actually talking to the buyer, or if this person is the buyer's legal representative." suggests Braatz. "Sound ridiculous? Not when you sit down to write the contract and are told that the real buyer is in Afghanistan- in the Army."

Don't Waste Their Time! Your Buyer's Guide should reflect your understanding of the city or town that you sell in and what a buyer wants. "So put on your professional counseling hat," says Braatz, "and think about what questions might be important to your buyer":

1. What kind of a purchase is this? First-time, vacation, rental, primary residence, investment?

2. Who is going to LIVE here? Full-time college kids? Adult couple? Young family?

3. Will school choice be a factor? What about work? Do they work from home?

4. Lifestyle: Do they envision walking downtown for a morning coffee? Or harvesting home-fresh eggs from their own chicken coop?

5. Define "privacy" (or any other overused terms used to describe desirable home characteristics in your area).

What is Their Ideal Home? What style? What type of yard are they looking for? How many bedrooms, how many baths? Etc. But also use your investigative skills to ask more than the MLS. "Ask your buyers what they haven't asked themselves." suggests Braatz. "Do they require a separate dining room? Or a dedicated office? Do they want their master on the main floor? What about air conditioning? RV hookups? ASK THEM!"

When do they want to Purchase? Braatz suggests using holidays as benchmarks... Labor Day, Thanksgiving, Christmas, Easter, etc.

How Much House can they Afford? "So far, your buyers are dreaming. They are sharing their ideal home with you -- and how much fun is that?! IT'S SO MUCH FUN (especially for the ladies)! Now it's time to bring them back to earth. Time to talk money." says Braatz.

A pre-qualification letter is a must today, but there are other factors that a buyer should understand. An agent can help the buyer understand the real cost of owning a home so it's important to ask questions up front.

Braatz offers these financial questions for your Buyers Guide:

"I am comfortable purchasing a home that costs __________ up to ___________."

"I am comfortable with a monthly payment of __________ up to __________."

"I am preapproved for ____________."

Keep it Simple: Keep the questionnaire to two pages maximum, says Braatz, and the third page will be your Buyer's Agreement.

"Now, put your pretty new buyer's guide in a folder with your business card and a flow chart of the buying process" says Braatz, "and VOILA! You've suddenly armed yourself with a potent client tool. Happy house hunting!"

Read the full article at Inman News.

photo credit: changefusion