Open Ended Questions allow you to gather information, establish rapport, credibility and trust. What makes open ended question process even stronger is using a declarative statement. A declarative statement provides additional information and enhances the open ended question. This allows the questioner to drop facts into the interrogative statement that you want the home owner to address.
All these situations work well when the agent has information about the home owner to add to the declarative statement. See the 8 examples of qualifiers and open ended questions.
1.
Homeowner: “I filed for bankruptcy so I don’t need to sell”
Declarative statement: All of the homeowners I helped, didn’t understand that bankruptcy only covers pre-petition debt. So even with a bankruptcy they still owed money to the HOA, attorney, county for code enforcement violations, interest and any other liens that accumulated after the filing.
Open Ended Question 1: “How much do you think your total debt will be?”
Open Ended Question 2: “How have you planned to pay for this added expense?”
2.
Home Owner: “I decided to just walk away”
Declarative statement: Other homeowners adopted a different strategy to settle their debt, where they did not have a foreclosure on their record, negative effects on their credit and will not have to pay a deficiency judgment to the bank in the future….
Open Ended Question 1: “How did you decide that your strategy was the right path to take”?
Open Ended Question 2: “What do you think your biggest obstacle will be in addressing these issues”?
3.
Homeowner: “I am doing a loan modification, so I am settling the issue with the bank myself”
Declarative Statement 1: “Your home is $100K underwater….
Declarative Statement 2: “Loan modification benefits the bank, principle reduction benefits you…
Open Ended Question: “Why do you think a loan modification is beneficial”?
4.
Homeowner: “I’m too busy right now, call me back in a few months”
Declarative Statement: “I have a solution to your issue that you needed yesterday and in a few months it may be too late. I would still like to set up a 10-minute conference call with my foreclosure defense attorney to show how we can solve your problem. That way, if you don’t see the value, I don’t have to worry about chasing you down in a month.”
Open Ended Question: “When is a good day/time for us to schedule a call”?
5.
Homeowner: “Just send me the information”
Declarative Statement: “Your Lis Pendens(intent to foreclose) was filed 8 months ago and my feeling is the bank is going to be acting soon which will cause you to move. Typically, people find my information more valuable if I explain how we’ve helped settle mortgage debt for others and that sometimes doesn’t come off as well on paper…
Open Ended Question: “When is a good day/time for us to schedule a meeting when you have more time”?
6.
Homeowner: “I need to speak with my spouse about your proposal”
Declarative Statement: “Speaking with your spouse is a great idea. However, due to your pending foreclosure I do not want to wait until it may be too late. Let’s set-up a 10-minute conference call with your spouse, my foreclosure defense attorney and that way we can all review the information together.
Open Ended Question: “When is a good day/time for us to schedule a call/or meeting with our attorney”?
7.
Homeowner: “Let me think about it and get back to you”
Declarative Statement: “I agree you need to consider all your options. Going through this situation is very stressful so I know you’ve thought about this already. However, thinking about this another day, week, or month, won’t change the fact that you and I are on the banks timeline not OURS.
Open Ended Question: “When is a good day/time for us to schedule a call/or meeting with our attorney”?
8.
Homeowner: “I took care of it already, so I don’t need your help”
Declarative Statement: “They filed a lis pendens (Intent to foreclose) on your home, 8 months ago, the next step is the final summary judgment before they auction your home?
Open Ended Question: “What did you tell the bank top stop the foreclosure?
Full conversation (actual event)
Homeowner: I’m not interested in selling
Declarative Statement – “The bank has already filed a Lis Pendens which is an intent to foreclose….
Open Ended Question – “How do you plan to stay in your home”?
Homeowner: “I’m going to work it out with them?
Open Ended Question – What is your strategy with the bank and your HOA?
Homeowner: “I’ll figure it out?
Open Ended Question? How would a sudden move effect your family?
Homeowner: “What do you mean?
Response: “The bank is going to demand you move if this isn’t addressed. That is why I want you to discuss this with this an attorney”. The consultation doesn’t cost you anything. We want to explain the situation you and your family are in and the options that are available to you if you want to save your home or stay in your home long enough to make a smooth transition.
Open Ended Question: “”When is a good day/time for us to schedule a call/or meeting with our attorney”?
Keith Jackson has over 10,000 hours experience working distress real estate sales. For more information on converting leads to listings contact Keith Jackson at KJ@EurekaFlorida.com.
