Joe Stumpf’s Magic Words Dialogues For Realtors And Lenders

The last time you emailed information to a prospect, did they turn into a client? Or did they get lost in the piles of paperwork, and end up working with some other Realtor or Lender? 

When a prospect suggests you email or mail information to them, use the 10 of Clubs dialogue from the Magic Words That Remove Resistance to let them know that the step they’re considering is far too important for an email – it deserves your (and their) full attention.

"Just email (or mail) me the information."

Magic Words

"I appreciate that you trust me to give you such important information. And a typical real estate salesperson would probably just shoot you the email then move on. As you may or may not know, the choices you make today will impact you for many years to come. You deserve more than my email because you deserve 20 minutes to sit down with a trusted advisor who will ask critical questions, listen vigilantly, and craft a strategic plan for you. You deserve my full attention. Let’s look at our schedules and set a 20-minute consultation now, shall we?"

Can you see how this dialogue will turn that prospect into an appointment? Share your thoughts below. 

Have you given your clients specific instructions on how they can introduce you to the people they care about?

Offering your clients a simple three-step process will make it easier for them to introduce you to the people they care about. This may be one of the most important communications that you can have with your client base.

My Magic Words That Get Referrals make it easy for your clients to remember, and refer:

Magic Words – Seven of Clubs

Here are the three simple steps to follow the next time you’re in a conversation with someone who mentions they are considering buying or selling a home or getting a loan:

Step 1: Take out your cell phone.
Step 2: Look up my phone number (555-555-5555).
Step 3: Call me immediately.

When we talk, you can tell me what you think would be the best way to get into a conversation with the person you want to introduce me to.

Watch the video below for my coaching on giving your clients referral instructions:

Is your number in your clients’ cell phones? Share your reply below.

When a buyer makes an offer on one of your listings, what you say when presenting the offer makes a critical difference. Here’s the language I teach in the Eight of Clubs in my Magic Words That Negotiate Agreements:

Imagine the seller’s name is Johnson and the buyer’s name is Miller.

What most agents say to their seller is, “Mr. and Mrs. Johnson, the Miller family has made an offer to purchase your home.”

The word “offer” triggers an automatic response: counteroffer.

A much more powerful approach is this: “Mr. and Mrs. Johnson, the Millers have agreed to buy your home.”

(The words “have agreed to buy” mean “The Millers now own your house because they have a binding contract.”)

“If you choose to counter the Millers then you have agreed to buy your home back from the Millers for whatever amount of money you want to counteroffer.”

The words “have agreed to buy” carry an implied conclusion.

The words “have made an offer” carry an implied beginning.

Which do you choose – conclusion or beginning? Share your thoughts below.
 

During a referral conversation it’s good to ask people to be more specific because it gives them a chance to think about the details that they may not have thought through yet.

How quickly can you ask people to go from general to specific?  Watch this video for my coaching around the King of Spades in the Magic Words That Get Referrals card deck:

Did you notice that you are asking for a specific type of person and situation?  Share your thoughts below about getting specific when you ask for an introduction. 

The next time a prospective client says “Will you cut your commission?” or, “Will you lower your fees?” use the Nine of Hearts in my Magic Words That Remove Resistance to say “No” in a way that’s a big win for the client – and you!

In this dialogue you’ll see the phrase “5-6-7.” That’s By Referral Only language for discovering exactly what is important to your client about buying, selling, or borrowing. We call it the “5-6-7” because the process I teach is a seven-step process.

People don’t just buy a house – they buy a dream. When you discover your client’s deepest reasons and dreams – their 5, 6, and 7 – you’ll be in the perfect position to help your client achieve them.

Master these Magic Words and never cut your commission again!

Prospective Client:

"I know an agent who said they would cut their commission."

Magic Words – Realtor

That’s a little bit like saying that a doctor is offering you a cut rate on surgery because his business is slow. I imagine you, like me, would be suspicious, wouldn’t you? Maybe they’re offering to cut their pay because they might be in survival mode right now, and experience shows that may hurt your chances of selling your home. Based on what you told me (5-6-7), your next best step is to select an agent like me, who is skilled enough to protect his own money, because then I will be equally skilled at negotiating for your money.

"I know a lender who said they would lower their fees."

Magic Words – Lender

That’s a little bit like saying that a doctor is offering you a cut rate on surgery because his business is slow. I imagine you, like me, would be suspicious, wouldn’t you? Maybe they’re offering to cut their pay because they might be in survival mode right now, and experience shows that may hurt your chances of getting your loan closed so you have the money when you need it. Based on what you told me (5-6-7), your next best step is to select a lender like me, who is skilled enough to protect his own money, because then I will be equally skilled at negotiating for your money.

How did you respond the last time you were asked to cut your commission? Share your thoughts below.

In my 25 years of coaching, the number one thing I've discovered that stands in the way of getting more referrals for most agents and lenders is fear.

More specifically – the fear of asking for a referral.

This fear is completely natural because you and I have an innate desire to be accepted. That desire is at the core for all of us; I want you to accept me and like me. You want your clients to accept you and like you.

When you avoid asking for anything, you avoid fear. The fear of rejection. The fear of not being accepted.

Watch the video below and you'll learn how to break through your fear and unleash your awesome power to create a steady flow of referrals for you and your business.

Imagine having a Master's level ability to control your fearful thoughts and become more empowered, more confident and more referable.

I know you can do it. You know you can do it. You can do it.  Share your thoughts below.

Magic Words

Immediately after they sign a purchase agreement, look the client in the eye and say…

“I’ve got this contract here and I’ll rip it up right now if you want me to.

“I know that you might talk to people who are going to say, ‘You bought a house, why did you do that?’ or, ‘You should have waited’ or, ‘Real estate is not a good investment.’

“It’s likely that after today, you will encounter people who suggest that you made a poor decision.

“If you don’t want to buy this home, I will tear up the contract right now.

“I need to know that you want to buy this home and that you are sure you want to do it.”

How It Works

When they insist that they want to buy, you erase remorse because you had them defend the decision they made, which deepens their commitment to what they are doing.

Also, if they change their mind after just a few suggestions you make now, you can count on them changing their mind when they talk to family, friends or neighbors.

So it’s in your and their best interest to discover if they really have made a clear decision by using this “Remorse Remover Script.”

Consulting is about helping people make wise, effective decisions, then sticking to their game plan once they have chosen a clear path.

When people make quick decisions, the chance of their quickly having remorse is greater. So when a person makes that quick decision, you know it’s in their best interest use the Remorse Remover Script.

Have you worked with a client who had buyer’s remorse? Share your thoughts below.