What is a Buy Spec ?

A Buy spec is a product a customer is looking to buy.

A "buy spec" (short for "buy specification") in English typically refers to a list of requirements or criteria that a potential buyer has for a product or service they are interested in purchasing. This list might include specifications such as price range, desired features, quality, brand preferences, and any other factors that the buyer considers important in making their decision. The buy spec can serve as a guide for the buyer to evaluate and compare different options before making a final choice.

In general, it is the buyer's broker who helps create and fill out the buy spec. The buyer's broker is a real estate professional or agent that represents the interests of the buyer in a property transaction. They work closely with the buyer to understand their needs, preferences, and budget, and use this information to compile a detailed buy spec. The buyer's broker then uses the buy spec as a basis for searching and identifying suitable items.

It is not necessary for the demand to be proven or certain; even if it is just a lead or a potential opportunity, it should still be recorded. This allows for the interest to be sparked and helps confirm the buyer's intent to purchase. By capturing these leads or prospects, the buyer's broker can better understand the buyer's preferences and gauge the market for suitable properties. This process enables the broker to present relevant options, encouraging the buyer to make a well-informed decision and ultimately secure the desired property.