Client Discovery - Industry Training Module 2

By: | 22 Sep, 2023

Client Discovery

Client Discovery

Daniel Spencer discussed the importance of conducting a high-level client discovery process when working with potential clients in the real estate or home-building industry. He emphasised the need to understand the client's motivation for buying or building a home. They suggested asking questions like, "How far along the buying process were you?" and "What brought you there that day?" to uncover the client's reasons for considering a new home.

Daniel also highlighted the significance of creating a preference for their services by understanding the client's past experiences and preferences. They encouraged asking if the client had built before and provided reasons why building a custom home could be a better option than buying an existing one. Additionally, the importance of understanding the client's specific requirements and preferences in a builder or developer was emphasised, with the idea that value was subjective and varied from person to person.

Budget-related questions were deemed essential in the client discovery process. Daniel advised against prematurely presenting properties or designs without knowing the client's budget. They stressed that clients often focused on monthly repayments and interest rates rather than the purchase price. Therefore, understanding the client's financial situation and any pre-approval they might have had was crucial to avoid mismatches between their expectations and their financial capacity.

Furthermore, he underscored the importance of understanding the client's lifestyle and needs in their current home. Questions about what had worked and what had not in their previous living situation could help guide the conversation toward designing a home that met their unique needs and preferences. The transcript concluded by emphasising the value of offering consultative advice and building trust by providing insights that had resonated with the client's stated needs and desires.

In summary, the key aspects of conducting a thorough client discovery process in the real estate and home-building industry, focusing on motivation, preferences, budget, and lifestyle considerations to provide tailored solutions and build trust with potential clients.