20 PRELIMINARY QUESTIONS TO ASK A BUYER

These questions will help you win favor with buyers and suppliers. Brokers, who do a superb job, make a lot of money and retire. Those who are not very professional remain behind. The average broker who is left behind is not very good at his job. So this list will help any broker improve his professional skills. Then each can get rich, leave the industry and live happily ever after. Of course, that means he or she leaves behind a bunch of stumbling, bumbling 'clowns' who haven't got a clue. If you want to work for every fake buyer who comes along, don't ask any questions. Waste your time and lose your chance to work for those who are real buyers.

For me, the decision to work for a buyer depends upon the following:

1. Does the alleged buyer really need the product?
2. Is the quantity sufficient to put out the effort to find what the buyer wants?
3. Does the buyer have a maximum shipment quantity (for each delivery) in mind?
4. Has the buyer shopped around for suppliers?
5. Does he know market prices?
6. Does the buyer have quotes from any other competitors?
7. Has the buyer offered any price?
8. If the buyer has a price, where did it come from?
9. Is the price realistic?
10. What is the best price of a real, alternative supplier?
11. Has the buyer bought this product, before?
12. Does he have a business license in the country he wants to do business?
13. If you ask the buyer the amount of the total purchase, will he stumble or does he know what he's spending?
14. Can the buyer pay for it?
15. When does he plan to pay, at sight of goods, as they leave the port, after SGS inspection, bill of lading?
16. What is his payment instrument?
17. Are his other terms acceptable?
18. Which port does he want the goods delivered to?
19. What is the discharge rate of that port?
20. Is there a match between port discharge rate and buyer's quantity request?

I consider these, preliminary questions of the well-trained, professional broker. A broker invests his time and he has to be selective and bet on winners, not losers. Some buyers are real, but most are not and so you have to ask questions. In asking questions, you get a clearer idea of who your buyer is and how real his order is. If you have a friendly discussion with the buyer, you will learn what he wants to do and what he is capable of doing. You will discover if he has unrealistic expectations or if he has experience, knows the market and really wants to buy product. So, please develop a list of your own questions and collect the responses.

When you make a presentation, give some facts to show that you are a skilled broker and a professional. When you prove your value, it's much easier for others to justify paying you. If you make up a presentation checklist and use it as a format, you gain the respect of the suppliers and they are less likely to betray you. If you and your buyer agree on a price, then ask your buyer to sign an NCNDA, before a notary public and give you an ICPO with six issues covered, adequately. If your buyers comply with these requests, you can consider them very serious about buying product.

I will respect your professional style and take your buyer very seriously and respond with the same seriousness, to get the job done, so we can all get paid. We will all make much more money, if we operate in the most professional manner.

Buyers recognize our skill and so do our suppliers.

Hope this helps :-)