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In real estate, there are two types of questions that can propel your success:
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Learning questions
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Conversion questions
LEARNING QUESTIONS
The 72SOLD program incorporates an array of learning questions, some for sellers, some for buyers.
For example, during the Meticulosity Walkthrough we ask sellers about "the peripherals," the not-obvious benefits of their home/neighborhood to help us increase its perceptual value (and uniqueness) in the eyes of buyers.
Another learning question comes at the end of our Meticulosity Walkthrough:
“What would be a perfect sale for you, an ideal closing date and a price you would feel is fair?”
Knowing sellers’ preferred closing date and price enables you to incorporate their specific goals into your explanation of our program, and then into the pricing discussion.
Did you notice how I use the word “fair” when asking sellers about their price goal? Most people don't want to be perceived as unfair, so using "fair" in that question typically (but not always) causes sellers to relay a more realistic price. Choice of words matters!
CONVERSION QUESTIONS
Conversion questions are different. They are not designed for you to learn, but rather to gently start prospects down the path to a definitive yes.
Conversion questions involve sellers (and buyers) saying "yes" in an indirect way. I find them easier to ask than a hard core closing question. They are also easier for prospects (sellers and buyers) to answer yes.
For example, one of our key conversion questions is asking buyers the following when we finish our 7 Step Showing Process.
“You seem to really like the home. Would like me to call the sellers to see if they would consider making an exception and selling it to you prior to making it available to the other buyers at the Saturday public unveiling?”
LEARNING QUESTIONS AS CONVERSION QUESTIONS
You can make a learning question serve double-duty as a conversion question. For example, when you ask sellers about the "peripherals" (a learning question) if you add the words “when I show your home” the question becomes a conversion question too.
"Ms. James, would you take a moment to tell me about the not-obvious benefits of your home and neighborhood so I can enhance its perception of value and uniqueness in the eyes of buyers when I show it."
LEADING WITH CONVERSION QUESTIONS
At the end of the Meticulosity Walkthrough, when you ask the “perfect sale” learning question, you might then ask:
“When we sit down, if I could unequivocally show you that my approach to selling your home is likely to result in thousands more in your pocket over choosing one of my competitors you'd go with me, wouldn't you?"
That is an example of leading your 72SOLD program explanation with a conversion question, essentially obtaining advance agreement that you'll get the listing if you prove you have the process likely to put more money in the seller's pocket.
CREATIVE LEARNING & CONVERSION QUESTIONS
A wonderful example of using a super-creative learning question followed by a powerful conversion question was illustrated in a role-play interview I had with Jeff Duncan on a recent Team Call.
Jeff role-played as a 72SOLD agent asking about the peripherals during the Meticulosity Walkthrough. I played the seller.
About halfway through the walkthrough Jeff asked me (the seller):
"Greg, would you describe a captivating moment, a joyful and memorable experience you and Teresa have had living in this home."
In answering, I described how much Teresa and I enjoy Sunday mornings, peacefully sitting together in our backyard with birds singing, looking out over the golf course, silently sympathizing with golfers who duff shots the way we often do.
Jeff then pulled a stroke of brilliance with this conversion question:
“Greg, may I have permission to use your exact words in my ad copy?”
I felt honored that Jeff wanted to use my description in telling buyers about the home, and I felt compelled to say yes, which was indirectly agreeing to list with Jeff.
TIE DOWNS vs CONVERSION QUESTIONS
Is there a difference between tie-downs and conversion questions? Yes.
Tie downs are typically direct and seek affirmation of a point you just made.
- “Does that make sense?”
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“Can you see how our Opportunity Showing process results in higher offers by eliminating the perception that previous buyers rejected your home because of price?”
By contrast, conversion questions typically seek indirect affirmation that buyers and sellers will move forward.
CLOSING QUESTIONS vs CONVERSION QUESTIONS
There is a difference between conversion questions and the typical closing questions. Most "Closing questions" taught by books and instructors are direct requests for the prospect to move forward.
"Are you ready to move forward?"
There is nothing wrong with them, but I find conversion questions to be more natural, less pushy, and easier to use. They are also easier for sellers and buyers to say yes to because they don't represent a direct commitment.
PRACTICE USING LEARNING & CONVERSION QUESTIONS
Learning questions and conversion questions can be powerful in winning sellers to list with you, agree to price adjustments, and accept offers you recommend. They can also be effective at generating higher offers from buyers.
Learning questions and conversion questions are threaded through our many training videos, and constantly covered on our live M/W/F Team Calls, and Randy's M/W role-play webinars.
Learn them. Practice them. You are at the Harvard of list-side real estate. Take advantage of it.
“Never ask a question unless the answer makes a difference.”
- Proverb
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