12 Disruptive Questions to Ask a New Client

1) Have you had a Pre-Purchase Consultation and has your lender invited you in to review all of your financing options in person?  

If the answer to this is "no," be sure to explain the value of looking at all of their options and how their financial details can impact the type of mortgage that's best for them. 

2) Are you aware of the potential Mortgage Tax Credits that are available and if you qualify for  them?  

Ask the right questions and bring any tax credits to their attention that they have the possibility of qualifying for. 

3) How much are you planning on putting down on the home? Where did that number come from  and have you analyzed putting more or less money down to see how it would impact your  monthly budget vs. your post closing reserves? 

Giving the client guidance around this is important, since there are many misconceptions around how much you need for a down payment. Get a full understanding of how much they have saved and what makes sense for them to put into a down payment. 

4) With less than 20% down, have you done or been presented with a side by side comparison of  all of your Mortgage Insurance options to figure out which option is the best for your short and  long term goals with the home?  

If their down payment plans include less than 20% down, educate them on all of the options they have as well as the option that is best for their situation. 

5) When you make an offer on the home, are you planning on using a Seller Buy Down Strategy to  get the lowest possible monthly payment and save on closing costs? 

Ensure the client knows about all options when it comes to funding closing costs and adjusting their monthly payment with seller buy-down strategies. 

6) Are you familiar with The Art of Homeownership platform and do you know all of the benefits you get when working with an Art of Homeownership Certified Professional? 

As an Art of Homeownership partner, you have a value proposition that will separate you from all others in the industry. Communicate the long-term guidance that you'll be providing them to show the level of advice you give your clients. 

7) Have you figured out the most appropriate strategy for how to structure your contingency closing timelines to help you get your offer accepted and to ensure that you don’t overpay for the home?  

Since this answer will likely be no, use this question to show that you have a strategy to combat overpaying for their home. 

8) Are you aware of the 16% offer acceptance rate in today’s market? Our clients get their offers accepted at a 72% rate and I would be happy to explain how we help with that. 

Having a strategy around getting offers accepted will set you apart. Give the client insight into how you are able to maintain a high acceptance rate and how you'll help them achieve the same. 

9) In terms of your age and timeline with your home, have you been able to map out how this  home will fit in with your overall retirement plan and strategy?  

Retirement is something many people don't think about - if you have older clients, make sure they thought about retirement and how their home will play into that strategy. 

10) Do you currently own a home? If yes, have you gone through an Equity Analysis Plan or a  Financial Transition Plan to ensure that you’re making the best decision possible with your  current home and as you transition into a new home? 

There are many options when it comes to leveraging an existing home; Turning it into an investment property or Airbnb, keeping it for family quarters, etc. A Financial Transition Plan will give them piece of mind that they're making the best decision possible. 

11) Has a real estate or mortgage professional helped you understand the difference between what  you CAN do versus what you SHOULD do?  

Giving them potential options is one thing; Telling them the BEST option for them is what they need. After giving them all possibilities, advise them on which is the best course of action for their situation. 

12) Do you have any plans to Re-Cast this loan in the near future?

Set yourself up for future talking points by asking them this question now.