Critical stuff if you want to earn a paycheck.
One hot buyer lead can mean lots of things.
It can mean mad money for a summer vacation; it could mean an Ethan Allen leather Paloma chair; or it could mean a mortgage payment on your home.
Whatever finding a qualified buyer means to you, you may need to have dozens of conversations and sift through a lot of leads to find a few good quality prospects.
With the aftermath of the housing crisis affecting “the financial fortunes of millions, from first-time home buyers to timber workers, truckers and lenders”, finding a buyer who has the ability to buy a house is more challenging these days. So having the means to rapidly qualify buyers is essential.
The best agents are highly skilled at finding and quickly qualifying the hot buyer. They can separate the A from the B from the C lead easily, determining who is going to act now versus act 30 days versus not act at all.
And a lot of these leads may want to act now but don’t have the financial ability to do so. It’s up to you to find those who are ready-to-buy and qualified to buy. Critical if you want to earn a paycheck and not just spin your wheels.
However, something to be very careful of is that today’s prospects are highly skilled at deflecting sales advances. When you ask a typical qualifying question, they feel like they’re being sold and bail out on the conversation.
So rather than teeing up rejection, I’m going to suggest an approach that may seem counter intuitive. I want you to frame your questions using what’s called a “reverse.” It’s a subtle psychology that gets you to the truth far better than typical sales questions.
Master this technique with these six examples and you’ll find it far more effective for moving your conversations in the right direction.
- Are you working with another agent? (typical rejection-filled question)
What did your agent say when they asked you to call me? (reverse)
- Do you need to sell your current home before you can buy? (typical rejection-filled question)
So I’m assuming you’ve already got your home listed with another agent? (reverse)
- How long have you been looking for a home? (typical rejection-filled question)
I’m guessing you’ve been shopping for a home for quite a while now? (reverse)
- Have you met with a lender yet? (typical rejection-filled question)
So I’m assuming you’re already pre-qualified for a home mortgage? (reverse)
- Have you been pre-qualified or pre-approved? (typical rejection-filled question)
When you say you’ve been pre-approved, how do you mean exactly? (clarifier)
- If I call a lender and he has an opening, would you consider sitting down with him to determine what he can do for you? (typical rejection-filled question)
How about I give me lender a ring and have him contact you? It would be free of charge and you can find out where you’re at and how much you can afford. (Once you reverse the questions and ask for clarity this softer question usually gets it done.)
The goal is to get them to meet with your lender. If they meet with your lender then your relationship with them will begin to solidify.
However, if you use the typical qualifying questions you’ll never have to worry about that because the conversation will end before your lender ever enters the picture.
Practice these reverses, the clarifier, and the soft lender invitation 10-15 times out loud. Then use them. You’ll be amazed at how effective they are at getting you to the next step.
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