“Begin with the end in mind.” -Charlie Munger, Berkshire Hathaway

If the end we have in mind is a successful closing with a client for life, we first have to navigate from contract to close. And before that, we have to write the cleanest, most competitive offer possible and get it accepted. Before that, we have to find the right house for them. But first, we have to get them to sit down with us and agree to work together under the new rules and regulations. 

What does the buyer who is most likely to get to that finish line with you sound like?

What are the boxes they should check for you to agree to devote your time and energy to them?

In simpler times, we were taught to ask 6 stock questions of every property inquiry, whether at an open house, on the phone, or via the Internet:

1. What was it about this house that caught your eye?
2. How long have you been looking for something like that?
3. Who is helping you find it?
4. How many homes have you actually seen so far?
5. Why didn’t you buy one of those?
6. Do you own or do you rent? (In other words, do you have a house to sell before you can buy?)

And then to use what we learn to close for the sit-down, or CITO (Come Into The Office) with the right attitude, to be qualified, select, and look. This dialogue and track is, and always will be, the best way to convert an inquiry into an appointment.

If you happen to have all the time in the world, by all means, sit down with every single buyer you can for a first interview. But if you are primarily a listing agent and selective about working with buyers, remember the principle you were taught to make a listing appointment more “gettable.” Land the appointment first, and then make sure all the ingredients for success are in place. And if they are not, or can’t be, reschedule. No sense going on an ungettable appointment. 

I am suggesting there are five criteria to consider before saying yes to working with a buyer: motivation, urgency, ability, loyalty, and willingness to compensate you. And that you discover as many of these as you can before you agree to meet with them. Keep in mind, that by asking any of the following questions before the first interview, you may lose some. You may also prevent a monumental waste of your time, energy, and money.

Do you have to buy or just want to buy? (Motivation)

Do you have to buy now, or would any time in the future other than now still be okay? (Urgency)

Have you been pre-approved by a mortgage broker? (Ability)

            (Who was it? What did they tell you? When was this? Are you willing to also be pre-approved by my lender of choice?)

Would you consider signing a contract to work exclusively with me to find your next home, because that’s the only way I work, fair enough? (Loyalty) 

Are you aware you may have to pay me as much as 3% commission to complete the purchase? Can you afford to do that? (Willingness) 

Will you meet with me and my loan officer to be re-qualified and go over the new home-buying rules and requirements? (Willingness)

Buyers provide you with a paycheck.

Listings provide you with a business.

Let’s commit to being more businesslike with our time, and selective with the buyers we devote it to.

Are you in?