The definition of Sales is the same as the definition of marketing. Which is the same as the definition of leadership! This definition is: “Getting others to consider something they have not considered for themselves”.
People who are in distress situations need answers to their questions. They want to be lead and for you to relieve some of the stress of the situation. You are the expert and you are the leader. The distressed client is looking for a solution to their problem. You can’t provide a solution until you identify the issue. Asking open ended questions encourages dialogue to get to the true problem.
With that said, the best thing you can say when you are asking open ended questions is “Nothing”. Sure, your going to talk when you ask a question but the point is you need to listen. Don’t think about the next question that you are going to ask. Concentrate on their problem. If you are quiet, it naturally encourages people to talk and expound.
- You don’t waste the clients time
- You get the client to identify their issue
- You acknowledge that you understand their issue
- You have a proven solution for their problem
- The client likes and trusts you!
The objections come because the client doesn’t trust you yet. You can’t address the “real” objection because you don’t know what it is. The solution is in your questioning and listening skills. Open Ended Questions allow you to gather information, establish rapport, credibility and trust.
Some of the most common objections you will hear are as follows:
“I filed a bankruptcy so I don’t need to sell”
“I decided to just walk away”
“I am doing a loan modification, so I am settling the issue with the bank myself”
“I’m too busy right now, call me back in a few months”
“Just send me the information”
“I need to speak with my spouse”
“Let me think about it and get back to you”
Below are a list of 80 open ended questions for distress clients in debt. Don’t lead the home owner. Let them express the problem. You gain rapport and trust when you address their issue because people know you are listening. It shows them you care.
80 OPEN ENDED QUESTIONS (Debt)
- Explain some of the creative strategies you are using to negotiate with the bank?
- Explain some of the creative strategies you are using to negotiate with the HOA?
- Explain some of the creative strategies you are using to negotiate with the banks attorneys?
- Why do you think refinancing is a good option?
- How does your family affect your decisions?
- How do you plan to stay in your home?
- What is your long-term strategy to repair your credit?
- How will poor credit affect your employment?
- What are the implications of poor credit to you?
- What are your biggest concerns with working with a realtor?
- Tell me about your time table.
- What are your goals for this property?
- How will you determine when it’s the best time to sell?
- What do you think your biggest obstacle will be going forward?
- How do you feel the foreclosure filing will affect you?
- Tell me about your past experiences dealing with the HOA?
- What was your strategy with the bank?
- What was your strategy with the HOA?
- What was the decision-making process when you dealt with the bank?
- What was the decision-making process when dealt with the HOA?
- Where do you get your information to negotiate with the banks?
- When is mortgage due?
- Other homeowners I’ve helped are adopting a strategy opposite of yours, how did you decide that your strategy was the right path to take?
- How would a quick/sudden move effect your family?
- How much do you think you owe your HOA without interest and attorney fees?
- How much do you think your deficiency judgment will be?
- Tell me about your last experience with the bank?
- What do you expect from a real estate professional & firm?
- When your lender files summary judgment papers; what is your exit strategy?
- How many months has it been since you paid your mortgage?
- How long will it take you to pay off your deficiency judgement?
- How much equity do you have in your property?
- When was the last time you spoke to the HOA?
- When was the last time you spoke to the bank?
- What are your future plans for this property?
- Why isn’t someone as informed as you not taking advantage of the opportunity to sell as opposed to foreclosure?
- What do you like or dislike about the situation with your home?
- Tell me about your past experiences in dealing with the bank?
- What is your experience with realtors that work with pre-foreclosure????
- What are you doing to take advantage of the bank?
- Loan modification benefits the bank. How does loan modification benefit you?
- What are you doing to protect your credit?
- What challenges are you specifically facing??
- Tell me why you don’t feel I have the knowledge and experience to help you?
- Tell me why you don’t feel I could help you?
- Have you attended all your court mandated hearings?
- What are the challenges in dealing with the banks?
- What are the challenges in dealing with the HOA?
- How has this process affected your credit?
- What is your exit strategy?
- How do you see your situations going in the future?
- Have you considered selling your property in the next 6 –12 months?
- Have you considered selling your property prior to the foreclosure preceding’s?
- Describe your ideal solution to your situation?
- How are you taking advantage this opportunity?
- What are your thoughts of the letters I’ve been sending?
- Tell me about the role of your attorney?
- What are your thoughts on the amount of time needed to settle your debt?
- Tell me more about that?
- What are your reasons?
- How do you intend to pay for your deficiency judgment?
- What is your long-term strategy to pay off your deficiency judgment?
- How have realtors worked with you to settle your debt?
- How have attorneys worked with you to settle your debt?
- What qualities do you look for in a broker?
- What are the implications of foreclosure to you?
- Why has your previous experience with a realtor been dissatisfying to you?
- How have you been pro-active in working with the bank?
- How have you been pro-active in working with the HOA?
- How are you prepared to deal with a deficiency judgment?
- How are you prepared to deal with the credit agencies?
- How are you prepared to deal with the bank attorneys?
- How long can you continue to rent your property before the feds notify you of your equity skimming violation?
- Explain some of the creative strategies you are using to fight the bank/hoa?.
- How does the risk of foreclosure, change your plans?
- What do you see happening over the next 6-8 months?
- What’s your biggest headache?
- What’s more important to you, more time in your home or a smooth exit strategy?
- What time constraints are you facing?
- What would you do differently if you could start over?