Notice in the example below how the real estate agent uses the information that the seller gives in each answer to ask the agent’s next question. These question strings allow the agent to stay in control of the conversation without educating, selling, or convincing the seller of anything, but still provide tremendous value to the potential customer. In fact, the agent says very little of substance, but still brings the sale to a close.
Agent: “Hi, I’m LS with The Way of Real Estate and I wonder if you plan to move in the next 12 months.”
Seller: “Well, actually, we are.”
Agent: “Okay. And where are you moving?”
Seller: “Phoenix”.
Agent: “And when will be that?” (Up to this point, the conversation follows a door-knock script.)
Seller: “Well, we are not sure. I have a job that will start there in four months, but my wife’s mother is very ill, so we can keep the house until she passes away.”
Agent: “I can see how you would make your wife feel more comfortable staying in the house. Is there a problem with staying in the house and selling it later?”
(I want to know why the obvious solution doesn’t work for him. He may have thought about it or not.)
Seller: “Yes, I have to buy again before the end of the year in Phoenix, and I will have to sell this before I can do that.”
Agent: “So you need to sell before the summer is over, but you don’t know how long your wife will have to stay in the house. What kinds of solutions have you and your wife talked about?”
(I don’t want to make suggestions, especially when I’m probably suggesting things you’ve already thought of. This is the role of a soundboard).
Seller: “Well, my wife is talking about renting a condo with an ocean view while I fix things in Phoenix.”
Agent: “Hmmm. So between keeping the house and renting the condo, what do you think is the best solution for your situation?”
(How you ask someone to “guess” between two things you are undecided about often helps you choose the one you are already unconsciously leaning on. People are often relieved to “guess.” Either way. answer now, before spending much more time with him, if he has decided to keep the house).
Seller: “Well, I think the condo. His mother could hold out for a long time yet, and I have a purchase to make in Phoenix before the end of the year. I would rather my wife didn’t have to deal with selling a house when I’m not here.” .
Agent: “Sounds like a reasonable choice. Is there anything preventing your wife from agreeing with you? (I feel like this is the big problem, the one that makes it difficult for you to decide. I’m asking you to surface ideas that you may not be thinking about openly, but that need to be addressed so that you can make a decision.)
Seller: “Yes, you think you would like the familiar environment of your home at this time in your life.”
Agent: “That makes perfect sense to me. So on the one hand, she has a strong emotional reason to stay in the house, and you don’t want to upset her. And on the other hand, you need to sell and reinvest in Phoenix. What if you keep the home and not reinvest in Phoenix? “
(I want to raise this issue, because it’s an option that you have that you haven’t mentioned, and it will come up at some point.)
Seller: “It’s complicated. But I have a tax problem and if I can sell this, I can transfer the equity to another house without paying capital gains.”
Agent: “I see. How do you think you are going to make this decision?”
(Now it has all the problems laid out in front of it, so I’ll take it to a logical place of choice.)
Seller: “I think we need to have a serious conversation. The truth is, I’ve been avoiding it.”
Agent: “Well, since you have this talk, how can I support you with the real estate data you need?” (I am not going to tell you any data, but I volunteer that there is data that I could use).
Seller: “Oh well, what do we need to know?”
Agent: “I could set up some condo rentals for you and your wife to see. Also show them the sales values in your neighborhood, give them moving quotes. That kind of thing.”
(I don’t want to start chattering, just give enough to allow you to decide if you are interested)
Seller: “I hadn’t thought of any of that.”
Agent: “There are many ways I can add support, but not all of them would be helpful to you at this time. Maybe you and your wife could brainstorm what you need and what you don’t need. How do you feel about doing that?” (Now I have asked him to do something, but not for me or me. It is a way of getting him to act).
Seller: “I think it’s a great idea.”
Agent: “Okay, okay. I’d like to continue our conversation after you’ve had a chance to speak with your wife. Would that be helpful?”
Seller: “Sure, I enjoyed it.”
Agent: “Wonderful. So what’s the best way to follow up on the support that you and your wife are brainstorming about?” (I’m just closing the action he already agreed to do. I’m not offering him a CMA to even clean his garage)
And so on.
Your role as a consultative salesperson in a conversation like this is to be a sounding board, not to provide answers or explanations. It is following a protocol of asking a certain type of question by using a question chain technique to help the potential client explore their situation. His protocol gently steers the potential customer in a direction that helps him make decisions. This is a highly consultative approach that supports a potential client in making the right decisions for him. It is also cleverly effective for you as a real estate salesperson. You could call it the yin / yang of the sale.