Language is a powerful tool that influences our interactions with other people. The words you use and the questions you ask clients shape your relationships and can directly impact the success of a transaction. When agents use the power of language, they unleash the power contained in every word they say. When clients are engaged in a real estate transaction, they can be emotional or nervous, which can make communication more challenging. Some clients might be selling their parents' estate while others might be buying for the first time and spending more money than they ever have at one time. In either scenario, the client will likely experience emotion. To connect with them, you need to understand them. [Tweet "Take your clients out of the one-size-fits-all box and take the time to really get to know them."]
Asking the right questions at the beginning of the transaction helps pave the way for a successful relationship and can also drive referral business. When you take the time to understand your client, your client trusts you and is more likely to refer your services to friends and family. Here are four great questions to ask your clients:
1. Why are you buying/selling? It is important to find out what is motivating them to make this move. Understanding why someone is motivated to be in business with you will help you understand their expectations. For example, if a client is buying a home to raise a family, knowing this upfront will lead you to search for homes in good school districts. Your clients will appreciate the personal touch and feel confident that you are showing them homes in family appropriate neighborhoods.
2. How are you feeling about this transaction (e.g., sad, nervous, excited)? It is essential that you understand your client's emotional state. This can help you pace the transaction and make recommendations with compassion. A seller who is going through a divorce will likely have different emotions about the home than a seller who is selling their parents' estate. The real estate industry is built on relationships. It is all right to ask clients how they are feeling and it is all right for you to share your thoughts with them.
3. What is your desired timeline? Your client could be leaving town or have some pressing event that will create more urgency on their part. Perhaps they have an international vacation planned in one month and won't be available for a signing. Ask your clients about their travel plans for the next 90 days so you can plan accordingly. If you feel your client's timeline is unreasonable, offer them alternative solutions so they have options. For example, if they will be unavailable to sign closing documents in person, make sure you get everything needed to be able to complete the transaction remotely before they leave town.
4. What is your budget for repairs? Whether your client is buying or selling, it is important to know how much they are able to spend on home improvements. If you have a buyer with limited improvement funds, you will not want to show them anything other than a turn-key property. You can also explain to your clients that they might need to pay a little more for a move-in ready home since they don't have the money to invest in significant repairs right away. When dealing with sellers who have a home that needs to be improved before it can be listed, find out exactly how much they are willing to spend and then use that information in your listing presentation when discussing the value of the home.
Although it is critical to ask your clients the right questions, it is equally important that your clients are able to ask you questions as well. Communication is a two-way conversation. Let your clients know that you will answer any question they have and give them the opportunity to do so. [Tweet "Honesty builds trust. Trust creates relationships. And that is a core element of real estate."]