Starting out and as I continue today this strategy has helped me weed out lookers from serious buyers or sellers.
The 4-7-3 formula is a series of qualifying questions. The sequence in which they are used is flexible. Many variations will produce the results you want. The strength of the formula is that your qualifying questions are structured. This structured approach will produce useful information rather than just conversation, and you won't fumble and stumble through qualifying interviews... I suggest that you write down the questions you want to read from until you create you own formula then it will come second nature.
FOUR QUESTIONS: Four preliminary questions should be asked during your first contact, which will probably be by telephone. These questions help to determine if the caller is a "looker" or "Seller" .
1. Do you own your own home now? (If the answer is yes, proceed to the next question.)
2. Are you planning to sell it before you buy another?
3. Is your property already listed with another broker? (If the answer is no, proceed to the next question.)
4. Are you planning to list it?
SEVEN-DAYS-A-WEEK TEST: This helps to separate the motivated buyer from the nonmotivated buyer, "looker" from the "serious buyer". 1. "If you'd like me to help you find a home, I'll be working for you seven days a week. I'll contact you whenever I find a property I think is right for you. How does that suit you?" Serious buyers will be pleased to learn that you want to work diligently for them: prospects "lookers" who are not really ready to buy will not welcome such a commitment from you. You can also ask potential clients to call you about ads that interest them including ads from other agents, or about any interesting homes that have For Sale signs. In this way, you are enlisting them as active helpers.
THREE FOLLOW-UP QUESTIONS:
1. How long have you been looking for a house?
2. Have you looked with any other brokers?
3. Which property appealed to you most?
These three questions usually produce better results after you have met your prospects and can discuss their preferences in person, You will find out if they are hart to please, unsure of what they want, confused from having seen so many properties, whether the looking has been planned or on impulse, or if they have come close t making an offer on any property, Successful agents ask questions to get answers that serve as beacons, showing them the way to a SALE!
thanks Gail Lyons.
Gail, great lists. About the "3"... number 2: What I ask is "Who is your agent?" I ask that because I have found, it seems to me, that I get actual honest answers to that one. If you ask the "agent" question in a yes/no format, the answer you'll get quite often (not always, but more often than is actually true) is "Yes." Because that stops the asker from going further. If you ask them a question that is open-ended and requires them not to say yes to lie (sorry, but that's what it often is) but to invent or recall a name, you stop the reflex no. If they do have an agent, they say who it is---which is great, you know you needn't go on with them; or they say "Well, we've been working with John Smith, but he's not . . ." and you may get them; or they say "We don't have an agent" or "No one," and you've got a shot with them.