As a mentor of real estate investing, I hear it all the time.
A new investor/student asks, “What if a seller or buyer asks me a question that I don’t know how to answer?” Or “What if I don’t know what to say or how to answer someone’s question?”
The subtext of what they’re really saying is “I don’t want to look bad or stupid or lose a really hot deal, so I’m just not going to make that phone call or talk to anyone until I know all there is to know, all the stars are aligned, and everything is perfect.”
Look, I get it. No one wants to look bad. No one wants to feel stupid. And certainly no one wants to lose a truly hot and profitable deal that could turn your life around. But when you let FEAR hold you back from taking the action you KNOW you need to take (making calls, etc.), then Houston…we’ve got a problem.
In this article, we’re going to briefly explore what’s really going on here, why it happens with so many people, AND – more importantly – give you a little secret that will make everything easier, more fun, and ultimately – a LOT more profitable for you! Ready? Keep reading…
Everyone has to start somewhere. We’re all new at something at some point. Because of this, there are a lot of skills that need to be acquired and mastered. There’s a lot of information to digest, and many times, there’s a LOT of information overwhelm that needs to be dealt with. When most people are confused and overwhelmed, they’ll simply shut down or go hide in the corner to “figure this stuff out” before they feel like taking action.
Or if they do take action, they’re so afraid of making a mistake that they feel and act totally awkward when talking with people. They’re flipping from this script to that script, trying to find the perfect answer to whatever question might come up. And the end result is often pretty bad.
But what if there was a different…a better way of thinking? An easier way of talking with people? Imagine for a moment the feeling of confidence you’d have if you knew that no matter what question someone asked you, you’d have a way of handling that question in a way that was not only easy and FUN, but also got you MUCH better results? Would that be of value to you?
I assume your answer can only be yes, so let’s go ahead and dive right in! Here’s the first lesson…
You Don’t Always Have to Answer Their Questions
For some strange reason, we’re conditioned by society to feel compelled to answer someone’s question. But the last time I checked, there’s no law that says you have to! Listen, sometimes the WORST thing you can do is actually answer someone’s question with a long, fully detailed response. Because once you answer, you’ve given them control of the conversation, given up your power, and lowered your status. And that’s not good. Furthermore, once you answer their question, what do they always do right after that? Right! Ask you another question! Remember: Whoever is asking the questions is the one who is in control of the conversation. Here’s a better idea…
Sometimes, The Best Answer To A Question Is…Another Question!
It’s called the “Hot Potato” (remember that game when you were a kid?), and it’s absolutely awesome! Let me show you an example of how powerful this is. Suppose a seller asks you, “How much time do you need to pay us off?” Rather than you replying with, “Well, it all depends on how long our tenant buyer takes to go through the process of qualifying for his bank loan, and…” If you answer like that, YOU’RE DONE before you’ve even begun with most people.
Here’s a better answer: “What’s the longest you could give us?”
Brilliant, right? Why? Because the pressure is back on THEM, not you. Just like catching a hot potato, you want to throw it right back at them. And that’s why it works.
The ‘Redirection for Clarification’ Trick
Ooohhhh…this is a good one! Can’t believe I’m sharing this here. Ok, suppose your prospect asks you a question that you DO need to answer (hey…It could happen!). With your new training in place from this article, let me ask you something: Should you just answer their question & leave it at that? NO! The better thing to do is to briefly answer their question, and then… ASK THEM A QUESTION OF YOUR OWN!
Example time: Seller asks you, “How much are you going to pay for our house?”
Instead of just giving them an answer, why not say something like this, “I don’t know! I haven’t had the chance to see your house and do my due diligence yet. But let me ask you this… Suppose we can work out a price that works for you and for me so that we both get what we want here, is it possible we could do business together today?”
Just try that out the next time a seller asks you that question, and watch the magic happen! Can you see why this is golden material here? Do you think this will help you to feel more positive and more confident when you’re talking with your various prospects on the phone or in person?
So let’s wrap this up by completing the title of this article with a personal quote I’ve been saying for years.
This is such a powerful idea, so please put it to good use:
Until Next Time,
Copyright 2018 Tony Pearl | All Rights Reserved
BIO: Tony Pearl is a writer, speaker, copywriter, mentor, marketer, coach, musician, poet, ballroom dance instructor, world traveler, father, fiance, internet marketer, voiceover artist, and real estate investor. He’s also a Politically-Incorrect Insomniac with ADHD who specializes in adding massive value to people’s lives by helping them overcome limiting beliefs, have more fun, and make more money while improving lifestyles through investing in real estate!