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Whether you’re a new or experienced agent, the easy way to kill negotiations is to slip into “Tell and Sell” mode rather than asking questions. “Tell and Sell” is often about the need for an agent to win or do the right thing. If you find yourself trying to assert or persuade a client, let go of the need to win and ask questions instead.
Did you know that the person asking the question is the one who manages the negotiations? It’s much more effective than “telling and selling,” especially when an agent “wins” and a client “losing.” If you want a more closed deal with a happier client, mastering these 10 negotiation questions is the route to success.
Buyer interview questions
1. Buyers are not really liars. You’re just asking the wrong question
If you want to know what the buyer actually buys, don’t ask about the location, number of bedrooms, or architectural style.
These details are important, but a better question is:
“What was your favorite home as a child and what made it special?”
When asked about function, the logical part of the buyer’s brain (cerebral cortex) is involved. Meanwhile, you’ll be asking about your favorite home since childhood and tapping on a deep positive emotional anchor, the real driver behind most purchase decisions. Show us your home that meets your logical standards. But if you can find a memorable version of that house from childhood, that’s the house they probably buy.
2. Do you have pets? If so, what’s their name?
For many buyers, pets are more important than those around them. By asking about your pets, you will discover important information about their lifestyle, such as their fenced gardens and how close your dog is to the park. They also take advantage of the strong positive emotions that many people feel about their animals.
3. When you’re at home, what do you want to do for fun?
This question will reveal whether your buyer is a gardener, gourmet chef, or someone who longs for peace and tranquility. By focusing on what makes them happy, you are more likely to find the perfect home for their unique lifestyle. This will deepen their trust in you and strengthen your relationship.
Overcoming objections at the show
4. Objection is buying signs: “Move them to properties” close
Did you know that the objection actually buys the sign? As a result, when a buyer complains about features such as paint colours and carpets, use this question, “Go to properties.”
“Would you like to replace it with another kind of wallpaper or paint it?”
No matter how the buyer responds, they respond as if they already own the property.
Write an offer
5. Are you planning to write an offer for this house? If not, why?
This is a powerful final question, but you need to obtain permission to use it during the interview with the buyer. Always interview buyers about their lifestyle and what’s most important in their next home for at least 20-30 minutes before taking the buyer to see their wealth. Also, given the rules of the new committee, it would require the buyer to sign a contract that marks the buyer’s contract.
The next step is to ask the buyer this question.
“To help me find the perfect home for you, after each show, I ask if I’ll write an offer to the house we just saw. If not, tell me what you like Please. Does that approach work for you?”
This question not only allows buyers to close after every show, but also helps to clarify what the client is most likely to buy.
6. That’s your choice. What do you want to do?
This may be the most important question in real estate. Trying to control negotiations can backfire. Always remember, “It’s their home, their mortgage, their decision.”
A better approach is to present all the options available, ask if you missed other options, and allow them to decide. This will build trust and ensure you feel supported without pressure. Rather than trying to persuade them, they become conduits of information that support the decision-making process.
“Did you know that…?” Questions to help close buyers to write an offer
7. ‘Turn Up the Pain’ Close
Renters have options – either pay off the landlord’s mortgage or continue to build stock by paying off the mortgage of their home. The next closing question is “increasing pain” by helping buyers realize their money is paying off their landlord’s mortgage.
“Do you want to continue paying off your landlord’s mortgage?”
You can then follow up on this question.
“Did you know that a recent NAR survey also shows that the average US homeowner has accumulated 40 times more wealth than the average tenant?”
8. Mortgage payments have been revised for loan life and continued rent increase
Unless the tenant lives in a rent-controlled unit, the tenant is always at risk of experiencing an increase in rent each year. However, with a 30-year fixed-rate mortgage, mortgage payments remain the same.
“Your landlord may raise your rent every year, but did you know that when you have a 30-year fixed-rate mortgage, your mortgage payments will remain the same for 30 years? ?”
9. 2 Benefit Homeowners have a shortage of tenants
The rising insurance rates and property taxes are not just a problem with homeowners, nor is it a problem for renters. Many tenants are not aware that property tax increases and insurance will increase to tenants unless the landlord is in a rent-controlled unit.
“You’ve probably heard of increased property taxes and insurance costs. Did you know that landlords usually pass those costs to tenants?”
Follow up by saying:
“Did you also know as a homeowner, not a renter who has two other benefits? First of all, you take the points you pay on your mortgage as amortization of your income tax and the interest you pay. You may be able to do so. Secondly, you can bundle your car and home insurance together.
The most severe negotiation situation
10. When a client becomes ballistic
Sooner or later, one of your clients will be ballistic about what you did. In fact, they may be mad at you about a mistake someone else has made that isn’t your fault. The steps to follow are:
First, don’t try to argue or defend yourself. This only escalates the situation. Immediately ask the client to pause and write something to make sure they can capture exactly what they have to say. Take notes on what the client said and pause to make sure they have correctly captured what they said. By writing down what they say and reading it back to them in a gentle voice, you will ease your anger. The most important thing here is that they know you’ve heard their concerns. This is very important if your client is litigating about a lawsuit, as you have a written record of what you said.
Second, this powerful question almost always eases the situation:
“It was never my intention to make you angry. What can I do to fix it?”
Note that you are not acknowledging that you did something wrong. Instead, I would like to ask for opinions on how to fix this situation and do so.
There are hundreds of ways to negotiate more effectively by asking more questions. Whenever I feel defensive, I pause and say, “What questions can I ask to move forward in this situation?” “What kind of questions can I ask to persuade them that I’m right?” Can you say it? You’ll be surprised at how well this approach actually works.
Bernice Ross, president and CEO of BrokerageUp and RealestateCoach.com and founder of RealestateWealthForWomen.com, is a national speaker, author and trainer with over 1,500 published articles.
