TREEs believe in the idea of knowing their Buyers well, and thoughtfully placing curated wholesale deals with those Buyers.
As with any relationship, the process of getting to know a Buyer and their business is one that takes time. The longer you work with someone, the better you will get to know them.
But when you’re just meeting a Buyer for the first time, what are the most important initial things you need to learn about them? If you only have 10 minutes to speak with a new Buyer for the first time, here are the five questions you should focus on first:
- What are your favorite neighborhoods to work in? And What level of homes do you like to work on? (entry level homes, average homes, or luxury homes?)
- How extensive of construction do you like to do? (major renovations over $50k, minor renovations under $50k, or new construction?). Who does the work? (you personally, your staff crew, contractors, etc.?)
- How do you finance your deals? (with your own cash, hard money, private individuals, bank loans, etc.?)
- What are your financial criteria for deals? (do you need a certain dollar figure of profit, a percentage profit margin, a cash-on-cash return?)
- How do you sell your properties? (you’re an agent yourself, you use a different agent, you sell FSBO?)