Property ManagementIs Your Client Motivated?
The most important skill in sales is qualifying. It is the ability to
separate the non-motivated buyers and sellers from the motivated ones who want
to do something now. Top-producing agents know how to do this quickly and
efficiently. They have a specific step-by-step series of questions that remove
the unmotivated people from their lives. We are going to delve into the skill
of qualifying buyers.
We must develop a series of questions that will ferret out motivation. The
focus is to find out their time frame and level of passion to move. One
question that tests motivation is, "How long have you been looking for a
home?" The longer the time the buyer has been looking, the lower the
motivation. We have to wonder why a buyer has not been able to find a home in
six months. Are they looking for something that doesn’t exist? Are their
expectations too high for the marketplace? Do they just enjoy the process of
kicking foundations? (When someone said to me that they had been looking for
more than 90 days, I wanted to know what they were looking for and the reasons
why they hadn’t found it yet.)
Another question is, "Do you need to sell your current home before you can
buy?" The follow-up question is, "Are you currently on the market?" Most
people need to sell their home before they can buy. A great percentage of them
want to find a house before they put theirs on the market. This approach seems
to be backwards. Most sellers truly can’t buy anything since they have to sell
first. They often want us to invest a large percentage of our time finding
them the perfect home prior to listing theirs.
One of our rules when I was an agent was that buyers had to list their property
now for us to work with them. We did not want to work without the opportunity
of getting paid. Since the buyers had to list their home sometime, why not
now? Why delay the inevitable if they truly want to sell? If their plans
changed we would withdraw the listing.
Another critical question is to ask, "Are you working with another agent?" Too
often we rush out to show one of our listings only to find out that they are
working with another agent. We just spent 30 minutes of our time and never got
compensated.
In my career I had gotten some unbelievable responses from prospects on the
phone regarding why hadn’t they contacted their agent about showing them the
property. Responses ranged from "my agent is out of town" to, "I did not want
to bother him." They wanted to bother me and then get their agent to write the
sales agreement if they decided to purchase it. Our policy was if buyers are
working with another agent, he can show them the home. That is what their
agent is getting paid to do.
Another question is, "Have you met with a lender yet?" This question will
start the process of determining their ability to purchase. Truly motivated
purchasers meet with lenders. If they have not and they have been looking for
six months, are they motivated buyers?
Next determine if they have been pre-qualified or pre-approved. There is a
world of difference in these terms and the buyers don’t know the difference.
The focus needs to be to get them to meet with your lender. If they meet with
your loan office, you will have solidified your position with them.
Once you have determined that they are motivated to buy and they aren’t working
with another agent; you need to find out their real estate needs. These
questions identify the property and area that they are looking for.
1. What type of home are you looking for?
2. What size of home are you looking for?
3. What price range?
4. What areas are you considering?
Then the big question is, "If we could find the home in the area that you
desire are you prepared to purchase it now?" If you get a favorable response,
set an appointment with them to help them find their new home.
Top-producers have a specific set of questions which they ask. Their success
is not based on chance; it is based on a well-designed system. Develop your
system today.
Also See:
How to Handle Objections
Seven Secrets of Prospecting
When Should a Prospect Become a Client?