3 Seller Questions That Help Convert Leads

Thank you to Wendy Rulnick for posting this link in the Facebook group. The original can be found here: http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=3&id=325271

According to speaker and real estate trainer Jared James, one of today's most common characteristics is a lack of inventory. "Whenever there is a lack of inventory, the power very much switches from buyers to sellers, so it's pretty obvious who you want to be spending the majority of your time with right now: people looking to sell," he says.

"I can tell you from firsthand experience that if you know how to do it, creating seller leads is a lot easier than converting them," James adds. "With that in mind, here are three questions you can ask potential sellers that will not only help you determine if they are ready to sell now, but also help you convert them into a listing for your business."

Would you be offended if I came by to do a quick five-minute onsite price consultation?

A lead may be legitimate, but the owner doesn't always welcome a Realtor with open arms when she asks to visit and do a true evaluation. "When following up with a seller lead, you can't use real estate lingo and say things like 'comparative market analysis,'" says James. "They have no idea what that means."

Many owners also aren't thrilled with the idea of a stranger stopping over and walking through their home. "If you explain how inaccurate online automatic estimates are, and ask if they would be offended if you came by to do a quick five-minute onsite price consultation, you are accomplishing a couple of things," says James. "First, you're allowing them to say 'no,' which is what they naturally want to do. That is, 'No, I wouldn't be offended if you came by…' Second, you eliminate the unknown of how long you plan to be in their house by asking to do a 'quick five-minute onsite price consultation.'"

At what price would you become a seller?

Someone homeowners may just want to know the value of their home, the same way they want to know their credit score – curiosity. Asking this question could help break through a "lot of wasted dialogue" if done right.

"If they respond that there is no price they would sell at, then you just did yourself a favor," says James. "But if they respond with a price – even if it's above market value – then you know that you have something to work with."

Your neighbor's house just came up for sale last week. I'm not sure if you are aware, but this may have changed the value of your property. Would you like to know how it might have changed?

James calls this question "pure genius" because it includes something homeowners are always curious about: their neighbor's property.

"It also leverages what I call communication 101: It's not what you say, it's what people hear," says James. "You are saying that their neighbor's property being listed may have changed the value of their own home, but what did they hear? They heard that their value went up, which only piques their curiosity even more."

Source: National Association of Realtors®, Jared James