- Episode 50 -
If we had a dollar for every time someone saw that we were Realtors and asked us the proverbial question “So how’s the market?” then we would all be mega rich, on our yacht, enjoying the good life... right?
I remember way back in those dark recession years people would ask that question and I would hear agents say things like, “It’s horrible, no one is selling, let alone buying because no one can get a loan.” Or they would respond with, “Don’t even ask”.
I was always brought up to find the positive in any situation. So when I was asked the same question I would reply with, “It’s great – interest rates are at historical lows and there are great deals out there to be had for all kinds of buyers.”
I have to admit those who were asking the questions were expecting the doom and gloom, but were pleasantly surprised when I would not present a black cloud over my response.
That was then.
Now that the markets are coming back in most areas, answering the question got back to the standard answers. Agents are now heard saying, “It’s a seller’s market and those homes that are priced right are flying off the market.” And in some instances, “Sellers are getting multiple offers and some over asking price. When do you want to list your home with me?” And of course commenting to those potential buyers, “It’s a great time to buy a home but you have to act fast since inventory is rather low. When shall we start looking?”
Being back normal isn’t a bad thing at all. But what about taking on a totally different approach that my broker mentioned today?
Let’s call it the “shock affect” answer.
Here’s how it will play out...
“How’s the market?”
To which you will answer: “It’s complicated – why do you ask?”
Besides the bewildered looks you will get, you have now engaged the “asker” in a conversation that goes beyond the typical answer. You have intrigued them to continue the dialogue and through further conversation you will find their motivation in why they asked to begin with. Where is there interest coming from? You have now secured yourself a new client.
But the market is complicated.
Inventory is low. And with this approach you can explain those reasons. Financial rules are changing and buyers and sellers need to understand these new requirements in order for you to set their expectations throughout the process. Loan products have become too numerous to count yet there is a potential product for every kind of buyer.
And the process?
Well, that’s a just its own cluster mess to begin with. But the “shock affect” dialogue will allow you to explain it.
If you were asked this five times a week, then that could potentially be five new clients who have a motivation that may not have come out with a typical response. Try it the next time you’re at a networking event, prospecting in your farm area, or meeting a new client because they saw your Realtor nametag.
While social media and technology are wonderful things, it’s the power of the human interaction that makes us all tick.
And that ticking will get us to that good life we are all dreaming about even faster.
Kay Conageski is a professional Realtor® with The Keyes Company based in Plantation, Florida. Check out her RESAAS profile ›