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Uncertainty is a fact of life these days, it seems. From political uncertainty to the global pandemic to the shortages of labor and materials, the only thing you can count on anymore is change.
Uncertainty in the market continues to be the No. 1 challenge for agents over the past 18 months. Successful agents are those who understand how to combat that uncertainty and help their clients make great decisions for their households.
This script and questioning technique can help you understand your prospect’s real motivations for relocating and whether they truly want to move. Each of us is in the business of helping people, and in this case, we’ll help them make their own informed real estate decision.
1. Begin by acknowledging your follow-up and recapping past conversations
The script begins like any typical follow-up conversation.
Hey Nick! This is Tom Toole with RE/MAX Main Line and the Tom Toole Sales Group, and I’m calling you back like I said I would. When we talked last April, you said that you planned to move to a larger home to accommodate your growing family, and you hoped to do it by the end of the year. Is that still your plan?
It’s a simple script that you’ve likely heard before, but it’s essential that you use a phrase like, “I’m following up like I said I would.”
Many agents never follow up, or they follow up only a couple of times.
2. Ask what they’ve heard
The second part of the script requires you to be the knowledge broker. You must know the housing data for your market, such as the sales statistics in your area, and how the market has changed over the past several months.
Open with a simple open-ended question:
I’m curious what you’ve heard lately about the local real estate market.
When they respond, they may share a third-hand story of a friend who had a particular experience in the real estate market, and it may have absolutely no basis in fact. That’s a normal dynamic because people routinely get their real estate information from the people around them.
If the prospect responds this way, don’t try to combat those objections.
3. Repeat their answer back to them
Repeat back their answer because it’s what a good script requires. It’s called mirroring, and the FBI uses it in negotiations to build trust. Without refuting what they shared, offer to give them an update about what’s happening around them.
Let me share with you what’s actually happening in the market right now, Nick, and how that benefits you.
4. Share relevant real estate data that relates to their situation
You must know all the relevant data for your market, how this information impacts your prospect’s situation and how a timely decision can help them.
Then share one of the following pieces of information:
- Change in inventory levels over the course of several months
- Days on market
- New listings in the past 30 days
- New sales in the past 30 days
- Number of price adjustments to existing inventory
- Interest rate variations
If inventory is up, interest rates are down, or the number of days on market is changing, share that with your prospect. Sales data is critical, and sharing one or two of these bits of information can move your client toward an informed decision.
The bonus hack here is to use third-party sourcing so they know the data is coming from a reputable source. Most prospects see real estate agents as simply wanting to sell another home. Who can blame them? By giving information from a source like your local MLS or a business website, it shows you are just sharing data. This is a huge difference.
5. Ask additional questions
Because scripts are simply questions that move people down the path toward sound decisions, use them to learn more about your prospect’s situation and motivations.
So how do you see this situation playing out for you, Nick? Knowing that interest rates are decreasing and inventory is bubbling up a bit, how does that impact your situation?
6. Set up a meeting
Once you’ve established a case for the immediate opportunity, ask to schedule a meeting to discuss the possibilities.
There’s a clear opportunity for you to act right now, so why don’t we set up a meeting to see if we can take advantage of these current market conditions?
This whole conversation revolves around sharing data in a way that benefits the consumer — because if you aren’t helping someone, you aren’t operating from the right motivation in this business.
Providing this information helps your prospects understand what’s happening around them and how it affects their situation. And ultimately, that’s why they came to you in the first place.
Tom Toole is the founder and team leader at Tom Toole Sales Group. Connect with him on Facebook or LinkedIn.
