If someone opened a window of opportunity for you, would you slam it shut?
You’re shaking your head no. But are you sure? I see agents make this mistake every single day.
Yes, EVERY. SINGLE. DAY.
It happens every day because this window of opportunity is without a doubt the most-asked question you receive.
It’s something you probably hear every time you’re out in public.
Yet if you don’t know how to answer this often-asked question correctly, you’re effectively slamming that window of opportunity shut right in front of the person who opened it for you.
Now that’s not a very nice thing to do, is it?
And it’s definitely not helping your bottom line.
Have You Guessed the Question?
Here’s that question: “How’s the market?”
It’s almost a cliché — Somebody meets a Realtor, and that’s the first thing that blurts out of their mouth.
Here’s the key: Your response cannot also be a cliché.
In fact, it 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 scripts I’ve ever written 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 they identify their needs, you know where to take the conversation from there.
But Tom, 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.
My script 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 that prospect thinking you’re a true expert who knows what you’re talking about.
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 ol’ “It’s good” cliché, or adopt my script and spark those conversations and turn those strangers into clients for life.