Brokers & Agents: How Do You Answer Prospect’s And Client’s Questions?

by Jeff Brown

Real Estate Investments Broker

Author website

It’s shameful the way I used to answer questions from prospects or clients. The excuse of age is available, as I was only about 27 or so. But even youth, or having just transitioned from homes to investments doesn’t wash as an excuse for my pitiful performance back then. It’s truly a blessing there were no hidden cameras or recorders in the office back then.

Clients would ask me if the rents in the area would tend to rise during the holding period. And I’d answer yes. The problem? Most folks asking questions want the answer, of course. But what they really want is the ‘why’ or ‘how’ behind your answer. Back then it irritated me no end that they wouldn’t just accept my answer as if I was quoting from the missing third tablet Moses forgot on the mountain. 🙂 I knew the answer. Why couldn’t they just take my word for it? What a moron I was. I could have been more full of myself back then, but I’m not sure how.

That’s about the time I was blessed by the teachings and example of Chuck Chatham. As far as I’m concerned Mr. Chatham was absolutely the best teacher and practitioner of real estate counseling. As the title of his seminar promised, The Art of Real Estate Counseling, (also the title of his book) he was indeed a master artist. One the subjects near and dear to his heart was how we, as professionals, dealt with questions from our clients, or those pondering becoming a client. He was especially sensitive to young upstarts like me and a few others in his seminar one day.

You first have to imagine a smallish older guy with what appears to be several centuries of experience. He literally oozed authority. I remember his face as having an eagle’s beak nose, and a patrician like stare, that when focused on you, was both chilling and assuring at the same time. Figure that one out.

Anyway, he’d been talking with some of us whipper-snappers during breaks, and was not happy at either our attitude or demeanor. Don’t get me wrong, all of us had immeasurable respect for him. Heck, he was just about deity to most of us in the seminar. But he was concerned about the high opinion we held for our own skills and knowledge — which he felt was humorously over estimated. Go figure.

His remedy was to teach by example. He took one of the students who was about to start looking for his first investment property, and asked him to participate in an impromptu role play. Mr. Chatham would be the professional and the student the prospect. The prospect began asking questions. And that’s when I begin to feel as if I knew zip, nada, nothin’ about how to really answer questions in a way that actually helped the person across the desk or on the phone. (add email to that today)
It was awesome. It was like watching the Mona Lisa being painted by da Vinci himself.

Here’s what I learned that day.

• If possible, give the short answer at first.
• Follow that up with an explanation for that answer.
• Ensure that explanation is pure substance, with no guessing on your part.
• Give an example if possible, illustrating your explanation.
• Allow for chronological context if appropriate.
  
• Finally, ask them if your answer was sufficient.

You’ll be surprised how many times that last one generates very solid follow-up questions. When this happens it’s often an indicator they now have more confidence in your expertise and real world knowledge and experience. Why?

Because in the end, you can’t fake solid substantive answers to real questions. Especially when they’re from folks who are asking those questions in part to ascertain whether you actually know more than they do.

Short dismissive answers given with a false tone of authority just won’t cut it — not in the long run. You must actually know what you’re talking about.

When we as pros answer questions, we must give answers so complete, forthcoming, and informative that the questioner is somewhat taken aback — positively. If you begin putting this into practice you’ll never go back to the short, dismissive, “you’re questions are a pain in the rear end” answers.

Why? The change in the way they look at you. You gave them a real answer with an impeccable explanation, and instead of getting served instant pudding, you gave them filet mignon. Talk about separating yourself from the crowd.

Of course, this requires that you actually know the answers. That’s always the challenge, isn’t it?