There’s a 99% chance you use at least one of these overused agent phrases in your daily repertoire:
Sure, there’s some truth to these statements. But the problem with using them is you sound like every other agent out there. Just take a look at a few of the comments this post received:
So, how can you address consumer challenges without sounding like a realtor practicing his lines? Byron Lazine, Tom Toole, and Taya DiCarlo share talking points that are sure to help you educate your clients and stand out from the crowd.
“We’re still at historic low inventory levels…there’s nothing on the market.”
It’s a line real estate agents have been saying for the past two years. And while inventory has been moving rapidly, telling your clients that there’s nothing on the market is wildly discouraging. Try this instead:
You know, sometimes it does feel like there’s nothing on the market. What we know is there were more homes that sold in 2021 than 2020. And there’s still going to be just under 6 million that sell this year.
It’s not that there’s no inventory, there’s just no stale inventory on the market. Days on market is very low. You’ve got to be prepared to move quickly in the current environment.
Now that we’re seeing the market shift, inventory is actually coming up a little bit. It has outpaced pending sales since March every single month, so we’re actually seeing more inventory come on the market than we did the first half of the year.
“Recessions do not equal a housing crisis.”
Ok, so this has become a classic line, especially when you throw in the KCM chart to back it up with numbers:
But, there are other ways to explain this. Here’s a brilliant opener Taya DiCarlo shared when speaking about recessions on last week’s Walk Thru.
Real estate is its own economy.
It’s the perfect attention grabber to add data to, like this sample script from Byron Lazine:
Real estate is its own economy. In fact, in the last six recessions, homes appreciated in value in four of them. Only two saw a decline. One of those was caused by mortgages in banking and the other one had less than a 2% decline.
So while we may be in a recession today, owning real estate might be the safest place for you to be when we look back on the past six recessions.
Tom Toole offers a way to talk about the most recent recession in 2020.
Remember the last time we had a recession? (They will likely say no). It was March to May of 2020. And we saw what happened to the market after that.
A recession doesn’t have to be this elongated period of time. And 2008 was arguably a depression, not a recession, given its length. No one talked about the recession in 2020. And then homes were selling like hotcakes for the 24 months after that.
“You can always refinance later.”
This is a line to stay away from. It comes across as a sleazy salesperson who is only worried about commission. Instead, use this as an opportunity to educate buyers on the monthly costs of owning a home.
Focus on what the monthly payment is going to be. Is it one that you can make for the next 30 years?
If you get the opportunity to refinance later, I’ll be watching the market for you, and I’ll let you know if there’s an opportunity financially that makes sense. But let’s just pick a location you love, one you know you’re going to be in for an extended period of time, with a payment that makes sense for your lifestyle right now. And take the house off the market, using those three variables.
You can also discuss the difference between renting and buying.
I hear you’re concerned about the monthly payment, and I totally get that. What’s your plan B if you don’t buy a home? Are you going to continue to rent?
It’s not so much a question of what the payments are going to be. The payments are going to be X amount of dollars. What are your alternatives if you don’t buy a home? That’s what you really have to look at. Because you’ll be making a payment next month. It’s either your mortgage or somebody else’s mortgage.
“It’s extremely hot…why is it so much hotter this year than last year?”
Ah, the awkward small talk.
Believe it or not, there are ways to eliminate cringeworthy statements about the weather. But it takes some work.
You need to spend every single day building muscle and studying like a pro. Look at your MLS hot sheets, read BAM and KCM, and analyze reports. If you know what’s new to the market, what sold, and what went under contract, you’ll have plenty to discuss with your clients.
When you know the market inside and out, you won’t default to weather because you’re overwhelmed with how much data and information you have to share with your client.
In Tom Toole’s words, “Proper Preparation Prevents Poor Performance.”
And when you’re done updating one client, get back out there or return to prospecting. When you continue to prepare and study, you’ll have so many clients you’re working with you won’t have time for small talk.