7 Questions Potential Clients May Ask a Broker
Knowing how to sell a property is not the same as knowing how to sell yourself. Brokers don’t get to sell a property until they have sold themselves to the property owner and convinced them to list with them.
So here are 7 questions all brokers should know when meeting with a new property owner.
1. What Experience Do You Have?
The chances of a broker selling a property for a high price is greatly improved when they have more experience. More experience generally means more contacts and the more contacts and potential buyers a broker has, the more chances of selling higher and selling quicker.
So property owners may ask how long you have been in the industry. Are you licensed? And other similar questions to get an understanding about you.
2. What Properties Have You Sold Recently?
This question will really get to the heart of a brokers ability to sell locally. Condo and house & lot owners may be asking this question for two reasons:
1. Getting an understanding of your ability to sell
2. Starting the conversation of the listing price for their property
Answering this question well is important and will be one of the most valuable responses you as a broker can give in gaining the trust and respect of the property owner. Sellability is most likely top of their priority list.
3. What Do You Know About the Local Area?
When a potential buyer enters the property during a viewing they are immediately trying to imagine what life would be like living in the property. But they don’t just live in the property, they live in the neighbourhood. So a brokers job is to help the potential buyer get an understanding of what life is like in the local area.
The more you know about the local area, the easier it will be to answer a potential buyers questions about local facilities such as transport, shopping, etc. Property owners may want to know what you know about where they live.
4. Do You Do Much Networking?
We live in a digital world now but even still, word of mouth is a powerful marketing tool that should never be overlooked. Knowing local people and business people is important because they all talk about property.
Your prospective client may ask how big your network is.
5. Do You Know Any Potential Buyers?
Property owners want to know if you already have potential buyers because they often want to sell quick and the quickest route to a sale is employing a broker who already has a list of potential clients.
But the reality is that most brokers don’t have a long list of people sitting around waiting to buy. So this question can be tricky to answer so be prepared.
6. How Will You Market My Property?
A broker should discuss everything about how they plan to market the property and make its ‘wow’ or unique features stand out to prospective buyers.
Brokers may also be asked to showcase some current properties they are selling for other clients. This is like your portfolio and property owners want to see what they are going to get if they hire you.
How many other listings do you have right now? Owners want to know how much attention you are going to give their property. This question may lead to the discussion of property viewings. When brokers are too busy they sometimes send juniors to the viewings who are not able to answer questions from potential buyers. This is unlikely to impress a property owner.
7. How Much Commission?
Commissions are not always the biggest concern of property owners provided they can see value in paying the commission. But owners want to know that both parties understand costs before they sign any contract.
Answering this question confidently at the start reduces the chance of disagreements with clients later on.