I’ve hired well over 3,000 agents over the course of my career, and in my experience, one of the biggest factors that separates those who build successful careers from those who burn out and give up is the effort they put into qualifying prospects.
It’s easy to let your enthusiasm get the better of you, wasting your time, and ending up in a situation where you don’t generate any revenue. This is especially true early in your career when you don’t have a steady flow of leads. But if you expect to survive long-term, you need a proven process for qualifying leads.
While there is no magic formula that works 100% of the time, there are seven questions that I have found extremely helpful in differentiating serious prospects from those that waste your time, bankrupt you, and disappoint you.
I train all of my agents to use these questions to qualify prospects. Even after 30 years of my career, I still ask all the questions when talking to new prospects. You should too, because they work wonders.
7 Questions to Ask a Home Buyer Before Meeting in Person
So let’s unpack the qualifying questions you should ask every new prospect.
1. Are you currently working with another agent or have a buyer representation agreement?
Most people in the general public have no idea how agent models work, and frankly, most people don’t care. That’s why it’s important to ask potential clients if they already work with another agent or have a buyer representation agreement.
This avoids ethical issues and wasted effort, and also increases the expectation that professional presentation is important.
Agents who fail to do this often end up wasting valuable time and energy showing properties to people who will never become clients. That way, at the end of the month, there will be nothing in the pipeline. If this situation continues for several months, you may soon be forced to leave the industry. Unfortunately, I’ve seen the same thing happen to hundreds of agents.
So this is the first question you should ask every time you talk to a new prospect.
2. Why move? What happens if you don’t move?
Buyers with clear reasons and consequences usually act more decisively, while buyers without reasons and consequences often delay, shop endlessly, or even disappear.
If you’re busy and don’t want to waste your precious time because you only make money when a deal closes, you need to get a clear answer to this question before investing time to meet prospects face-to-face.
So, for example, a buyer who wants to move because they want a better view or is simply tired of their current home is probably less motivated, whereas a buyer who needs to move because of a new job they just took on is probably much more motivated. You are also more likely to close within a certain period of time instead of shopping endlessly.
3. When do you actually want to move into your new home?
A buyer’s timeline determines their urgency, indicates their strategy, and indicates how actively they should be involved.
If a buyer’s schedule is compressed because their previous home burned down and they’re camping out on Airbnb, you’ll need to adjust your availability or risk losing the buyer to an agent who can prioritize them. On the other hand, the longer and more flexible your schedule, the less risk you have of losing out.
Given the opportunity, most clients will try to monopolize your time, so you need to base your availability and priorities on realistic timelines, rather than simply following their requests. This can be a delicate balancing act as ego comes into play.
4. Have you already talked to a lender or do you need a reliable introduction?
This question is important because it establishes both your financial readiness and your seriousness. No pre-approval means no real estate tours with my brokerage. Because I firmly believe that agents maximize their success by serving only serious and ready customers.
Agents that produce top talent are successful because they are selective about who they work with. I’ll be the first to admit that this kind of selectivity can be scary, especially early in your career. Many agents spend a lot of time with people they want to have a conversation with in hopes of ultimately closing the deal, but that means wasting a lot of time with people that will never close.
Showing selectivity often motivates prospects to get consecutive ducks. Psychologically speaking, when a prospect feels rejected, it triggers something in them that proves that they’re worth working with you.
5. In addition to the purchase price, what monthly price range do you feel safe?
This reframes the conversation around affordability and lifestyle. Buyers often focus on price rather than payment, so this question can prevent discrepancies later.
The reality is that sales price is only one part of the equation, and an experienced agent can find creative ways to structure a deal that can help you close on your dream home that seemed out of reach.
Mortgage buydowns, creative financing, seller credit, and other strategies can help you close deals that wouldn’t happen if you focused solely on price.
This approach will help you establish yourself as an authority in the industry who is truly focused on meeting the needs of your customers, rather than just an honorable order taker showing off your real estate listings. This can be a powerful way to differentiate your company from your competitors.
6. Who is involved in the decision-making process?
Anyone who has spent any amount of time in sales knows firsthand how depressing it is to cross the finish line, seemingly done with a deal, only to be told, “Great! All I need to do is talk to my wife/husband/business partner.”
When a spouse, parent, partner, or advisor is missing, transactions stall. That’s why you need to identify all decision makers early and know exactly what makes them tick. You should ask all the same questions you asked the initial prospect, as their answers may be different.
This is very important to prevent an unexpected decision maker from popping up at the 11th hour and derailing your trade.
7. Once you find the right home that meets your criteria, are you ready to make a decision?
This question is direct and tests commitment.
Serious buyers will say yes. Often, you can tell by their tone that they mean it. On the other hand, hesitation or uncertainty here may be a signal to delay or reset expectations.
Remember, you only get paid for the deals you close, not your efforts. So before you invest a lot of your precious time and energy, you need to know that you’re dealing with a motivated buyer.
