Broaching The "Why Are You Selling" Question
Hi all --
I have spoken to a few homeowners who seem to get very off-put / edgy when I ask them why they are selling. I have tried to do it with the -- "Sounds like a great place -- do you mind if I ask why you'd want to leave it?"
Can anyone suggest better wording? Or should I just write-off the people that balk when I ask?
Thanks a million!
Emily
what are some of the objections are you getting?
fearlessemily,
Glad to meet you.
I am curious why would you ask this question?
What do you think a good answer would be if you got one?
John $Cash$ Locke
It sounds like your second way of asking is getting closer. I would leave out the phrase "do you mind if I ask". "Sounds like a terrific place, why would anyone want to leave?" might work.
I always ask the question very directly and most of the time I do not get a negative response, but if I do, I explain that having such information and knowing what their needs and desires are allows me to make an offer that is in concert with their needs.
Once I got a response that they wanted to move into a mobile home park to be near the wife's sister. You can guess what I offered as down payment!
Regards,
Ed
Thanks for the replies folks... As a response to John, I think the type of answer I'd be looking for is -- moving out ot state, downsizing, etc, as opposed to an answer like -- we want to move to an even bigger house or we're "thinking about" moving closer to family...
In terms of the kind of objections, the one that sticks out in my mind is the guy who responded with -- why would you want to know that? Are you an investor? I don't deal with investors...
Ed, I like your answer about wanting to make an offer that best meets both of our needs...
Thanks again,
Emily
some great stuff here
newbies should be taking notes....I AM
kristian
You can only ask a personal question like this once you have established a rapport with the Seller (have them identify with you in some way). Otherwise, they are likely to say, "None of your business."
Hopefully this will add to the comfort level between you and the seller. I have found that this works very well because it develops you as someone sympathetic to their concerns and anxieties.
My sales mentoring taught me that there are two things needed for a sale to take place.
1) Sufficient discontent
2) Having a specific means for removing
the discontent.
One segment of qualifying questions is probing and learning about the discontent. You are looking for the motivated seller. You are trying to understand the feelings and anxiety of the seller. Qualifying questions that examine discontent are:
"I know that selling a house can be both an exciting time and an anxious time. So far, how has this been for you?"
"What is of most concern about selling your house?"
"What do you look forward to when you think of selling your house?"
"What part of the selling process gives you the most anxiety?"
If they give a resonant response to one of these, then probe deeper!
"Tell me more about why a long escrow is of concern to you".
"You indicated that you were nervous about holding an open house. What are the issues for you?"
Then paraphrase back!
"Let me see if I understand. You would prefer not to have an open house because some of your lovely furnishings might get damaged and you want a short escrow because you are moving to East Sheboygan Falls to get married in six weeks, is this correct?"
You may need to iterate on the paraphrasing, but then you will be prepared at least for a conditional close.
"If I can show you how we can have short escrow would you want to begin negotiations now so you won't have to have an open house on Sunday?"
Regards to all,
Ed
Quote:On 2004-08-03 22:17, JohnLocke wrote:
When you really get good at it, all you really need is the address, then do your marketing research and you will know all you want to know like how much their mortgage is, what their monthly payments are, including why they want to sell, how much to pay for the house, how much you can sell the house for and even how long it will take to sell the house.
Could you elaborate on this a little bit, either here, or in a new thread/article?
Thanks a million Ed -- your ideas really helped a ton! Makes me feel much better about how to handle those kinds of situations!
And Andrew -- I'm with you in my question to John -- I understand one can usually get the purchase price at the recorder of deeds office, but I don't understand how I would determine their mortgage payments or why they want to sell just from the address of their property... Would sure love to know though!
Emily
Hey,
Personally I think "Why are you selling?" is a very good question and it flows very well in a natural conversation. I always ask it and I have never run it to problems. The answer the seller gives might not be true (as you get better at talking to people, you can figure this out), but then you just have to dig a little bit to find the real answer.
I think the true answer to the question "Why are you selling?" is what determines if the seller is motivated or not.
Maybe the reason the sellers are having problems with this question is the TONE. Maybe the question is coming out as an interrogation and not a conversation. When you ask the question, sound like you really don't know why anyone would sell such a great house...get that rise in your voice at the end.