What is Important to Whom? (Asking the Right Questions)
Asking the right questions is always important. As @Brandon Turner has mentioned many times, there is a way find the right code to unlock bank financing. I think that can be extrapolated to all the other people and entities we deal with on a daily basis as investors. Understanding the motivations of who you are talking to what is important to them; is a critical to unlocking the deals and maintaining working relationships.
The goal of this post is to poll the BPcommunity:
- What is important to each role on the list below.
- Why it is important.
- What are questions to ask to find out this information.
I've given a couple examples below. Feel free to add to the list or share any advice.
1. RE Agent
- What: Ensure the energy and time they spend with a client is compensated; Why: Realtors don't work for free, Ask: to see their Buyers agent contract and if modifications can be made (specific property types or exclude other projects you are working on)
- What: Client who has a clear set of search criteria; Why: efficient and focused property search; Ask: what search criteria do they need to tailor your search?
2. Contractor
- What: Clear and detailed SOW, Why: Accurate estimating and planning for their business; Ask: for an example of what they consider a good scope of work.
3. Loan Officer/Mortgage Broker
- What: Client with Paperwork in order, Why: minimize delays in mortgage process, Ask: for complete list of documents.
4. Underwriter
5. Appraiser
6. City Inspector
7. CPA
8. Lawyers
9. Property Managers
10. Bank (REO)
11. HOA
12. Neighbors
13. Local Government
14. Seller
15. Lender
16. Wholesaler
17. You
Cheers!
Mike