This year marks a major milestone for CORE–our 10 year anniversary. While we eagerly look forward to the future, we’d be remiss not to reflect on the past. In this series, CORE Founder and CEO Shaun Osher shares his insights on how the industry and CORE have evolved from 2005 to today, and everything in between.
As an agent, your most valuable asset (other than your captivating personality) is your time. And the last thing you need is a client who wastes your time. Having worked in the field for many years, here are my 5 fundamental questions you need to answer in order to determine which client to keep and which one to refer to your fellow agent who has an abundance of time on their hands.
1. Do they have the money?
Everyone wants what they can’t afford. You need to make sure that your client can afford the property they want. The best way to do this is to get them to fill out a verifiable financial statement of their net worth. If they aren’t interested in doing this for you, they aren’t serious, don’t have the cash, or don’t trust you. All good reasons for you not to work with them.
2. Why are they moving?
This one is common sense. The more motivating the need to move (like a divorce, growing family, job relocation), the more motivated they will be to get out and find a new home with you. I would generally prioritize my time on them based on their motivation.
3. Are they loyal?
This one was a biggie for me! The last thing you want to do is work with a client for a year, show them 50 homes only to have them buy something at an open house without you. We’ve all been there – and it’s no fun! Make sure you get the complete loyalty of your client and explain to them that you are investing your time and effort into finding them the home of their dreams and expect their undivided loyalty to you in return.
4. Are they responsive?
In a market that moves as fast as the one we are in, speed wins deals. A responsive client is a necessary component of a successful transaction. Make sure that they are responsive to you during the process. Will they run to a listing when needed? Put in an offer expeditiously? Engage when you begin negotiating? Get their ducks in a row before the closing?
5. Do they trust you?
Another biggie for me! The reason your client is working with you should simply be because you are the best person for the job. You are the expert! Their trust in you is imperative. If they start to second guess you, the wheels can fall off the bus very quickly and you can lose control of the deal. Don’t allow yourself to be undermined. Build your trust with them and work together as a team to get the job done!