Tourists or Shoppers? 5 Questions for Qualifying Customers

Every broker in Bansko has at least one such story in their “career”: The client calls on Friday afternoon, sounds enthusiastic and ready to make a deal. You cancel your personal plans for Saturday morning, get up early, clean the car, drive to the property, open it, air it out and make the perfect presentation.

The customer smiles, nods approvingly, takes pictures of everything with his phone, and finally, on his way out, says:

“"It's very good! Now I just have to talk to the bank to see if they'll even give me a loan, and ask my wife if she's dealing with real estate in Bansko.

Congratulations. You just worked as a free tour guide. You wasted 2 hours, fuel, and most importantly, energy, for a person who not ready to buy at all.

In our profession the weather is the only asset that does not return. The difference between a broker who closes 3 deals a month and one who makes 3 deals a year is in the skill of buyer qualification. Here are the 5 questions you should ask over the phone to find out if it's worth starting the car.

Question #1: “How long have you been looking for a property?”

This question is your thermometer for the customer's temperature.

• Answer “I start yesterday/today”: This is a “cold” client. He doesn’t know the market yet, doesn’t know what he wants, and will probably want to see 20 properties just to “get his bearings.” Don’t give him priority time.
• Answer “From 6 months or a year”: Be careful. This is a “red flag.” This client is either looking for a “unicorn” (an impossible property at an unrealistic price) or is chronically indecisive. Ask him directly: “Why haven’t you bought anything yet? What’s stopping you?”.
• Answer “For a month, I saw 3 apartments, but I missed them”: BINGO! This is a hot buyer. He is educated, knows the prices, has experienced the pain of loss and is ready to act quickly. This is your VIP customer.

Question #2: “If we found the perfect property today, would you be willing to pay for it immediately?”

Does this sound too direct or aggressive? Maybe. But remember – this is a business, not a social club. This question shows you the seriousness of your intentions.

If the answer is “"Well, I don't know, we're in no hurry, we're just looking, the money is in a time deposit..."” – congratulations, you found “The Tourist.” Schedule the viewing at a time convenient for YOU (e.g. when you have other viewings in the area), not when he feels like it.

Question #3: “How do you plan to finance the purchase?”

Many new brokers are hesitant to talk about money because they feel uncomfortable. Get over it. You are not being rude, you are a professional who is helping the client not waste their time.

The correct script:

“In order to show you only properties that are realistic for a deal and not waste your time, I need to know – do you have the amount in cash or will you use a bank loan? If it is a loan – do you already have pre-approval from the bank?”

If the client is counting on a loan but hasn't talked to a bank yet ("I'll like it first, then we'll think about it"), he's not a buyer. He's a dreamer. In 30% of the cases, the bank won't approve him. Connect him with a credit counselor and tell him to call when he's approved.

Question #4: “Who else will be involved in the decision-making?”

The classic realtor mistake: You show your husband an apartment, he is ecstatic, but in the end he says “I have to show it to my wife”. And you do a second inspection. And then “The mother-in-law gives the money, and she has to see it”. Third inspection.

Save this. If there are other people making the decision (spouse, parents, investment partners), insist all to attend the first inspection.

“Mr. Ivanov, since properties in Bansko sell quickly, I recommend that you come to the viewing with your wife. That way, if you like the apartment, we will be able to react immediately before someone else snaps it up.”

Question #5: “What do you NOT want to see?”

Instead of asking what they want (because everyone will say “nice, cheap, southern, and with a view”), ask what they hate. The negative filter works better.

• “I don’t want a ground floor or a top floor.”
• “I don’t want a northern exposure.”
• “I don’t want a maintenance fee over 7 euros.”

This question is a powerful tool for buyer qualification, because it saves you from showing properties that are doomed to be rejected right out of the gate. It shows the client that you are listening and value their time.

Refusing to view an unqualified client is not arrogance. It is the highest form of professionalism. When you stop chasing the “tourists,” you will free up your schedule to provide quality service to the real buyers – the ones who sign the contracts and bring in the commissions.