7 Non-negotiable questions at the first meeting with the Customer Owner

Summary

In this video, Mónica Silva, a real estate trainer, discusses seven crucial qualifying questions to ask homeowners during the first visit. These questions help uncover key motivations, emotional connections, and potential objections about the property. Mónica emphasizes the importance of gathering emotional insights about the property and area, asking the right questions about the home’s features and its value. She also provides guidance on handling pricing discussions tactfully, avoiding direct confrontation over unrealistic expectations, and using market studies to establish a fair price. The video concludes with tips on differentiating yourself as a professional in the real estate market.

Takeaways

• 😀 Ask the owner what led them to buy the property to understand the emotional value and key selling points of the property.
• 😀 Use the owner's emotional connection to the property to convey that same emotion to potential buyers, especially if it's tied to specific details like the area or features.
• 😀 Understand what the owner loves about the property, such as sunset views or sun exposure, so you can highlight these aspects to future buyers.
• 😀 Discover potential objections early by asking what the owner would change about the property, such as room sizes or local noise issues.
• 😀 Instead of immediately challenging the owner's asking price, suggest conducting a market study to determine the fair value of the property.
• 😀 Make sure to perform a market study that compares both active listings and recently sold properties to give a realistic and data-driven perspective on pricing.
• 😀 Avoid using the word 'urgency' when discussing the owner's timeline to sell, as it can make them defensive. Instead, ask how soon they would like to sell.
• 😀 Never challenge the asking price directly without offering a foundation for the value. Avoid offending the owner by presenting facts through a market study.
• 😀 Identify the marketing efforts that have been made by the owner so far, and use this as an opportunity to differentiate your approach and service plan.
• 😀 Present a thoughtful and professional service plan that highlights how you can better market the property, which helps build trust and credibility with the owner.

Q & A

Why is it important to ask the homeowner why they bought the property?

Understanding the reasons the homeowner purchased the property can reveal emotional connections and unique selling points that can resonate with potential buyers. The homeowner's perspective often provides valuable insights into the property's appeal.

How does the emotion tied to the property affect the selling process?

Emotion plays a key role in real estate. The homeowner's emotional connection to the property adds authenticity and passion to the sales pitch, making it easier to convey those feelings to potential buyers. It's important to 'buy' the homeowner's emotion in order to sell it effectively.

What is the significance of asking about the first impressions of the property?

By asking about the first impressions of the property, you can highlight unique features such as sunset views or special sun exposure that may not be obvious during a typical showing. This helps create a compelling and personal narrative for potential buyers.

Why should you avoid asking clients directly about urgency when selling their property?

Asking about urgency may put clients on the defensive, making them uncomfortable. Instead, asking how soon they would like to sell allows them to share their timeline without feeling pressured, which fosters a more open conversation.

What is the best approach when a homeowner gives a price that seems unrealistic?

Instead of challenging the homeowner directly, suggest a market study. Explain that the study will compare similar properties on the market and recent sales, giving both parties a clearer idea of the property's true market value.

How can a market study help in setting the correct price for a property?

A market study involves analyzing properties that are currently for sale and those recently sold. By comparing similar properties, the market study provides data-driven insights that help establish a fair and realistic price, reducing conflict during the sales process.

Why is it problematic to tell a homeowner their asking price is unrealistic without supporting evidence?

Without solid evidence, such as data from a market study, stating that a price is unrealistic can damage trust. Homeowners may feel dismissed, and it can harm your credibility. Instead, you should gather data and present it professionally.

What should be the focus when discussing the homeowner's selling strategy?

Ask about their past experience with selling the property, including previous market studies, marketing strategies, and follow-up actions. This allows you to identify gaps in their approach and present your own value proposition.

How can asking about the homeowner’s marketing plan improve the sales process?

Inquiring about the marketing plan allows you to assess the effectiveness of their current strategy. It also opens the door for you to demonstrate how your approach is different and potentially more successful, showing your expertise in the process.

What is the purpose of reflecting on other methods of working during the conversation?

Reflecting on other methods of working helps homeowners understand that there might be more effective ways to sell their property. It gives you an opportunity to shine and differentiate yourself as a real estate professional who offers unique and valuable strategies.