Real estate agents have all the intel because being a real estate agent is akin to being a private investigator and a psychiatrist. A client hires us to solve a problem for them and in order for us to help them properly, we need to know where all of the skeletons are hidden. The more we know, the more we can help. Early on in my career, I figured out that solving a problem successfully has more to do with the questions you ask than the answers someone might give you. If you ask the right questions, you’ll find the right solution. (Pro tip – It helps to be intuitive because people don’t always say what they mean).
On my first phone call with my first-ever client, I created a list of ten questions that guided me in helping to determine the identity of their next home. Since then, I have used these same questions for every client, and still use them today....
1) Why are you moving?
2) What is your budget?
3) Where do you want to live?
4) Why do you want to live in that neighborhood specifically?
5) How much space do you need?
6) How many bedrooms and bathrooms do you need?
7) What building amenities do you need?
8) What does your dream home look like?
9) Have you been pre-approved for a mortgage?
10) Where do you work?
The answers to the above questions would lead me to ask other basic questions which in turn gave me more insight into the real reasons why my client was moving. It also gave me insight into their motivation and how quickly I could get them to a closing table. A pre-qualified family of three, with a child on the way cramped into a one-bedroom apartment was usually a highly motivated buyer that I could find something for quickly. A couple living in a penthouse who wanted a better view was usually not a quick or easy transaction. The answers people gave were closely related to their lifestyle choices. Everyone has budget and wants the best lifestyle they can afford within their budget. Lifestyle means different things to different people, but there are some commonalities. As an example, everyone wants an easy commute to work. Most people would love to walk to work but are they be willing to sacrifice the luxury of space for the luxury of saving time commuting? This answer post pandemic will certainly be different, especially if you are no longer working from an office in Midtown. Maybe you can have both the luxury of time and space.
If we were able to survey every real estate agent in every market and gather all of the intel they have after asking my ten questions, we would be able to see trends that answer four very important questions.
1) Will people go back to work in their offices?
2) Will people move?
3) If they do, where will they go?
4) What will they want in their next home?
Over the course of my day, I speak with agents across the United States who are asking their clients these questions. I am starting to see some early trends take shape. Trends that will define our future. I will be sharing the answers to these four very important questions and the trends we can expect to see as I get them.