In this crazy market, it’s even more important to make sure you’re working with clients who are serious about buying or selling.  The time required to close a deal is extended in the market today, so you need to make sure every hour you spend is taking you closer to a commission.

Ask the Right Questions to Pre-Qualify

The first way to pre-qualify a prospect is to ask the right questions and to listen carefully to identify any inconsistencies or hesitation in the answers you receive.  Here are the type of questions that can help pre-qualify a buyer or seller:

• Why are you planning to buy/sell?
• What is your timeframe for making this move?
• What will happen if you don’t meet your timeframe?
• What have you done to prepare yourself for making this decision?
• What could cause you to change your mind about making this move?
• If we found a home you loved, what would have to be in place before you would make an offer?
• Have you been pre-approved for a mortgage?  Would you get pre-approved?

Naturally, these types of questions can’t be asked all at once, and need to be woven into a discussion, not an interrogation.  But, if you listen carefully and gently probe into any hesitation or inconsistency, you’ll be a lot farther ahead in making sure that your new client is actually going to close a deal.

New Technology for Pre-Qualifying

There’s a service that you can evaluate to assist you in pre-qualifying prospects.  Learn more about it at www.RealTAG.com.  Using RealTAG, you can enter a prospects name and address and receive information such as estimated income, estimated property value of their existing home, and other information that will contribute to qualifying the prospect.

You can take advantage of a free trial and the cost is very reasonable.  In addition, the information gathered is from public records only.  Therefore, there is no issue with privacy or obtaining permission.

If anyone is using this system, or tries it, please let us know what you think!