Thursday Objective: Leading Questions & Qualifying Questions; Test Closings
The three reasons people move forward with the decision to buy a home are: location, price and motivation. Once you have established all three of these, they are ready to sign. The best way to recall a question is to use word association. For example, when you hear any words associated with PRICE, let it trigger the PRICE questions.
- Is that a price range you are looking to buy in or is that a price that you have been approved for by a lender?
- What price range are you looking to buy in?
- What areas are you looking to buy in?
- Are you familiar with that area?
- Are you interested in a specific subdivision?
If a response is made that the home is too small, too big, etc., ask the following question:
- In order to understand what you’re looking to buy, exactly what are you looking for in a new home? (Always get minimum requirements)
- Do you rent or do you own?
- Do you rent month-to-month or do you do you have a lease?
- When does your lease expire?
- Have you checked to see if you can rent from: (month to month, sublet, etc.)?
- Have you been pre-qualified, or credit approved by Mortgage Company?
- By that I mean have you spoken with a lender to find out the maximum amount you can borrow and what your comfort level is?
PRE-QUALIFIED or PRE-APPROVED means speaking with a lender over the telephone and giving general information. This usually takes about 10 minutes.
CREDIT APPROVED or APPROVED means actually making mortgage application. Your approval is usually for 6-12 months and would be subject to the appraisal of your new home. Once you are credit approved, you are like a cash buyer and this generally represents a 3-5% savings to you. That sounds great doesn’t it?
The importance of using qualifying questions lies in the fact that it allows you to gather important information about your clients. Additionally, it will save you and your client time. You start using qualifying questions from your first contact with your client and continue through to closing.
- I see, how long have you been looking for a home to buy?
- Have you established a time frame of how soon you want to be in your new home?
- Let me ask you this, are you currently renting, or do you own the property you’re living in?
- On a scale of 1 to 10, with a 10 meaning that you are definitely interested in moving and a 1 meaning you are not really interested in moving at all, where would you rate yourself?
- Just out of curiosity, what attracted you to that home? Was it the location, price, size or exactly what are you looking for in a new home?
- If we found the right home for you, are you prepared to buy it today?
- Are you approved for your mortgage already?
- Are you a cash buyer? (Meaning: already approved for a mortgage)
- (If no) Would you like to be?
- Is it best to reach you at your daytime number? May I have a (daytime, night-time) number I can reach you at?
- So, I may serve you better, what is another number I will be able to reach you at?
- I can see you on (day of week) or (day of week), which is more convenient for you?
- Are weekdays or weekends better for you? Should we meet on (day of week) or (day of week)?
- Is it better to meet you in the afternoon or evening?
- What are the top three priorities you are looking for in a home? There are 3 things people must have in a home, what are your must haves? If we found a home that matched your top 3 must haves, are you ready to buy?
- What have you liked about the homes you have lived in? Tell me what you like and dislike about where you are currently living.
- What would you do if you couldn’t decide which home to buy?
- Buy them both?
- By the way, did you bring your checkbook with you today?
- Are you ready to buy today?
- Do you want to be in your new home this month or next month?
- Practice Practice Practice. Continue to practice your questions, scripts, and role playing scenarios with a business partner, family, or friend.
- Remember your 5-5-5-5 Prospecting!
- Secrets of a Top Listing Agent
- Set Yourself Apart in the Marketplace
- Buyer Efficiency Scripts and Workbook
- Cold Calling Script
- Real Estate Prospecting COI Scripts