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If you're like the majority of real estate agents, you struggle to tactfully converse about real estate in a casual setting to your sphere. Whether you're afraid you'll come off salesy or you think they already know that you sell real estate, likely roadblocks are stopping you from feeling confident bringing up real estate in a conversation. Let's dive into some ways to have a business-focused conversation that flows naturally.
First, you'll need to break the ice. An easy acronym to follow is FROG: Family, Recreation, Occupation, Goals. People love to talk about the things they treasure and find joy in. So, ask them about their family, if they've been out on the lake yet, and how their work is going. Then, ask them what they have in store for the rest of the summer, or what they're hoping to upgrade on their home, etc. Naturally, they will ask you reciprocating questions about whatever topic you're discussing. This is the perfect opportunity to relate what they've shared back to a real estate story or a client story.
Another helpful acronym is CALL:
Check-in: show a genuine interest in their life
Ask: "How can I be of support to you?"
Listen: listen closely to their answer, even if it's not real estate-related
List: when they ask how things are going, list a few positive things you're experiencing in real estate before discussing other areas of your life
This may seem like common sense, but sliding in those real estate experiences plants the subconscious seed that you are an agent and your business is busy. Outside of that framework, confidence in being able to answer commonly asked questions is critical for the flow of conversation. I don't mean a canned, recited answer, but more so having the knowledge about the industry and your own business to educate who you're talking to. Here are some examples:
What's the deal with the commission lawsuit?
Great question! What have you heard about it?
Give your opinion . . .
The media likes to sensationalize it, but I really don't think a whole lot will change except the two actual rules: We can't state commissions on the MLS, and we have to have a buyer agreement signed to show homes.
Do you have any concerns about the commission lawsuit?
Instead of getting your news from the TV or social media, feel free to call me and I can answer any questions you may have.
How's the real estate market?
It really depends. Are you thinking about buying, selling, renting, or investing?
The biggest problem we still have is supply to demand in housing. [And here’s how we overcome that for people in your situation.]
Any time you have questions, you can always call me to chat, okay?
When are rates going to come down?
Tell me more about that. Why are you concerned about the current rates?
A lot of people ask me when they will go down, but I like to ask, "what if they go up?"
Rates are closely tied to inflation, but the last few inflation reports have been positive.
The election can also play a factor in rates.
You can always call me if you have questions or you'd like me to keep you updated on the rate trends. You know that right?
What if I sell my house but can't find one to buy?
Tell me more about that. Have you been thinking about a move?
If rates go down, where would you go? (are they running out of space, want a new neighborhood, got a raise,etc)
There are lots of programs that have become available to help clients in this exact situation and contingent offers are much more common right now.
If you ever want to look at your options, you know you can call me, right?
What do you think my house is worth?
Tell me more about that. Are you thinking about a move?
In order for me to share my opinion, I would need to look at your specific micro-market. I'm happy to look into that for you.
The bottom line is that you have to meet your sphere wherever they're at. Whether they're ready to transact right away or they're a few years out, they still need you as their advisor. People in your sphere don’t know what they don’t know. Agents are used to speaking to someone who has raised their hand. It’s a lot harder when the person you’re speaking with has not yet identified their need, but that doesn’t mean an agent can’t offer value. Be a resource about the process. If you don't take care of them, someone else will.
If you're looking for a sounding board or simply want more practice with these talking points, please schedule a time to meet with me.
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