5 Buyer Questions Every Real Estate Agent Should Be Prepared to Answer

Sellers aren’t the only real estate clients that come to the table with a laundry list of questions for their real estate agent.

If you work both sides of the real estate game, then you should be prepared for buyer questions for real estate agents.

Today, we’re diving into the five buyer questions every real estate agent should be prepared to answer.

“Do You Work With Buyers and Sellers?”

Buyers looking for an agent to represent them want to know who a prospective agent usually works with.

Are they primarily a sellers’ agent who might not have a lot of experience working with buyers? 

Or do they often work with both types of clients?

By asking this question, buyers may also be trying to figure out if there’s any risk of you representing both parties in the same real estate transaction — a conflict of interest in which their best interests might not be best served.

Answering this question well means answering it honestly. 

If you haven’t worked extensively with buyers in the past, say so, but explain that your experience with sellers gives you plenty of insights on how to best serve buyers.

“What’s Your Expertise in This Area?”

Most buyers will already have an idea of which neighbourhoods they’d like to live in.

When they ask a prospective real estate agent how well they know those neighbourhoods, or what expertise they have in a certain area, they’re trying to ascertain whether or not that agent is the best person to help them.

Providing a strong answer to this question is only possible if you’ve made it a priority to know your market’s neighbourhoods inside and out. If you have, then don’t hold back — let the buyer know how well you understand their desired areas and how that knowledge can help them find their dream home.

Don’t know the neighbourhoods very well? Better to focus on your dedication to working for your client than trying to inflate your knowledge. Talk up your commitment to pounding the pavement and learning everything about an area in order to best serve your client.

“How Will You Help Us Get an Edge in This Market?”

In other words: “Why should we work with you over any other agent?”

This is your chance to apply your unique real estate value proposition. 

What is it about you and your particular way of doing things that would make you the best possible agent for their buyer?

The answer to that question is the answer to their question.

To really ace this answer, you should also be sure to: 

• Customize your response to their unique characteristics, needs and wants; and
• Reflect your awareness of current market conditions, and how they might pose a challenge or opportunity for the buyer.

“How Do You Approach Bidding Wars?”

A buyer’s agent can really prove their worth during the offer and negotiation phase of a real estate transaction.

Especially if negotiations involve multiple offers and bidding wars.

Buyers understand that to come out on top in a situation like that, they need an experienced, savvy real estate agent with winning strategies. 

This is your opportunity to explain all the factors you consider when developing an offer and negotiation strategy. You want to show the buyer that:

• Your approach isn’t one-size-fits-all
• You’re there as an advisor and consultant — never to pressure your client into something they’re not comfortable with
• You believe in making the deal that makes the most sense, not in making a deal at any cost
• You’ll be completely transparent with them during the negotations

“Do You Know a Good [Inspector/Appraiser/Contractor/Lawyer]?”

Buyers often ask their agent for recommendations for service providers that will help them close a deal.

To demonstrate your helpfulness (and how plugged in you are to your area), you should have vetted suggestions at the ready for all common real estate-related professionals — home inspectors, lawyers, contractors, appraisers, designers, and so on.

Don’t let yourself be caught off-guard by such a simple question. Being able to confidently make a recommendation is another vote of confidence in you.

This is why it’s key for real estate agents to create and maintain a local referral network; send referrals to other local services and businesses, and you can likely count on them sending referrals to you.

Last Updated on July 15, 2024 by myRealPage