Your marketing is working. Potential sellers are calling.
Great!
The next step is to qualify the caller to determine if they are truly motivated – whether or not it is worth proceeding with this homeowner.
To create a great deal, we need a motivated seller that recognizes they have a problem and sees us as the solution. We need to help discover the gap between where they are today and where they want to be.
Here is the best question to ask potential sellers. Frankly it is a variation on the famous “Dan Sullivan question” which I have worded in this way:
If we were having this discussion 12 months from now and you were looking back over those 12 months, what has to have happened for you in your life and with your house for you to feel happy with what we have done together?
This question is designed to have the seller really think about where they want to be in 12 months. It takes them out of their current situation and places them in a much better place providing two benefits for you:
- You receive a clear understanding of their underlying motivation
- The exercise feels good which transfers to their feelings about you
Obviously you would not start out the conversation with this question. Start first with simple questions about the house. Build initial rapport with light conversation. Remember to listen more than you talk and acknowledge what they are saying.
A common segue to use would be:
It sounds like you have some great memories in your home, why do you want to sell now?
Listen and acknowledge their answer, then continue with:
I sense that there is more going on in your life than just selling your house. Let me ask you a question…
Their answer to the question will be very revealing. If they are not motivated at all, their answers will be very superficial and even border on the sarcastic (e.g. “You paid me a great price and I put a lot of money in the bank.”) Don’t be afraid to release these home owners off the call. They are not your target client.
Motivated sellers on the other hand will think about the future and what they really want. They’ll even feel relief from the exercise as they imagine life without today’s problems; and their answer will reveal what is important to them.
Once you discover the underlying motivation for the seller, all you have to do is show them how what you have to offer will deliver on that desire. You’ll be able to address the WIIFM question (What In It For Me?) in their mind and price becomes less a factor at that point.
Practice using this question with sellers and I promise you will learn more about them in a few minutes than with an hour long conversation plus you’ll have the added benefit of knowing exactly the right approach to use.
Expect abundance,
Lou Castillo
