If someone opened the door of opportunity for you, would you slam it shut? If you’re shaking your head no right now, are you sure? I see agents make this mistake every single day.
I mean every single day…
It happens every day because this opportunity is without a doubt the most-asked question agents receive all the time. It’s something you probably hear every time you’re out in public or around friends, family members or acquaintances. Yet most agents honestly don’t know how to answer this often-asked question correctly, and therefore effectively slam the door of opportunity door shut, right in front of the person who opened it for them.
Would you agree that’s not a very nice thing to do? Also it’s definitely not helping their reputation or business. So have you guessed the Question yet? Let me share with you the question people ask agents the most and agents don’t know the proper answer to.
Here’s that question:
“How’s the market?”
Sound familiar? Can you think of how many times you were asked or you heard others ask that question about the market and about real estate in your area. It’s almost a cliché — Somebody meets a real estate agent, and that’s the first thing that blurts out of their mouth. “How’s the market?” opening the greatest opportunity for you and your real estate business.
The problem is your response cannot be a cliché. In fact, your response to the question has to be anything but.
Far too many agents simply reply, “It’s great!” or “I’m busy” or “Well, the high end is slow” and leave it at that. What a monumental mistake! What a missed opportunity! It’s actually painful to watch this happen.
By far one of the best and most effective dialogs to this question is a straightforward reply that goes like this:
“How’s the market? Well, it really depends. Are you interested in buying, selling, investing, or renting? They’re all very different. Which part of the market are you curious about?”
It’s that simple. Suddenly, you’ve engaged the prospect. You’re already providing value by helping them narrow their focus and get more specific, so you can help them solve whatever specific real estate need they’re facing.
By opening them up to thinking about their own situation, you’ve begun a meaningful dialogue that can lead somewhere productive — for them and for you. Once you identify their needs, you know where to take the conversation from there.
“But Wade, What About…” I can already hear you. Some people will say, “Oh, I’m just curious.” You’re right. So what’s your plan then? Does that mean you don’t engage them? Of course not. The dialog for that scenario goes like this:
“Are you curious about the value of your home? Are you curious about property values in your community? Are you curious because someone you know needs to sell?”
By pressing the issue and getting them to identify exactly what they’re curious about, again you’re getting that prospect to open up and think about his or her specific needs.
This is what leads to productive conversations, and leaves the prospect thinking you’re a true expert who knows what you’re talking about.
So Let’s Recap…
As long as you’re in real estate, you’re going to be asked “How’s the market?” at least once a day for the rest of your life. You basically have two choices — stick with the same old’ “It’s good” cliché response and lose that opportunity or adopt these dialogs and spark those conversations and turn those questions into clients and sales for life.
Strength and courage,
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