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Expert Tips for Navigating the Real Estate Market

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Maximize Your Real Estate Investment with People Skills



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You know, you can be the most knowledgeable real estate investor around…the master of every financial “trick” available…and it still won’t matter without the one indispensable skill – the ability to connect with people!

For you, as an investor, it’s vitally important to work well with many different people - buyers, sellers, lenders, realtors, appraisers, contractors, etc. After all, they’re instrumental in helping you achieve your success. Without good relations, your career goes nowhere.


Now, if you’re one of those individuals who feels he or she isn’t blessed with natural people skills, I have some good news for you – you can learn how to deal effectively with anyone inside (or outside) the real estate business!


Here’s all you have to do – learn the practical tips below and then practice them every day! Soon, everyone will consider you the “natural!”



Tip 1: Listen Effectively!


I know, I know…everyone tells you to listen well, but they don’t tell you how to do that! In this article, I tell you exactly how!

  • Listen twice as much as you talk!
    Sometimes we get in such a hurry to make a deal that we forget to listen. Remember, people want to feel that you understand their needs and frustrations. So, replace excessive “yammering” by listening closely and showing interest in clients and others as individuals. Also, remember that this is actually an effective business technique; that is, once you know a person’s needs, you can shape your offer more closely to meet those needs – and a sale is made!

    Use prompts! 
    “Prompt” is a term for a technique to keep clients and others talking so you uncover their needs. It involves using short phrases like, “Tell me more…Go on…I hear you….Go on…Uh huh,” etc. When you use these phrases, people know you’re listening and want to hear more of what they have to say.

    Use positive body language!
     
    Positive body language techniques include: a relaxed, yet alert posture…making good eye contact…nodding your head…leaning slightly forward…and writing down what people say. Never do the opposite during a meeting or interaction: answer phone calls, read papers, fidget, interrupt, and so forth. This is the height of rudeness and tells clients and others that they’re not important to you.This is a sure way to lose deals and money!

    Summarize!
     
    This is not only a great technique for letting people know you’re listening to them, but it also keeps “motor mouth” individuals in check and stops them from wasting your time and theirs. So, at strategic points in a conversation, you might say, “Kim, what I hear you saying is that you’d like an inexpensive home that’s in a quiet and stable neighborhood and is safe for your kids.” 

    Hint
    : Don’t overdo the techniques I just described above (for example, summarize constantly, prompt all the time, etc. If you do that, you’ll end up being seen as manipulative and turn people off. Instead, fit these techniques into the normal flow of conversation. With practice, you’ll soon be an expert!

Tip 2: Match the Customer’s Language and Speaking Style!


As we all know, people are more comfortable with others who are like them. So, for example, if a person has very high energy and talks fast, you can match those characteristics.


Or, if they’re very deliberate in their speech, then you can adopt those traits as well. Again, don’t go overboard with this technique. If you do, people make think you’re making fun of them and get very irritated.

Also, try to match their dominant style of thinking. For example, some individuals are emotional; some want “big picture” ideas; some are analytical and demand only facts and figures. If you can match their particular style of communication, you’ll connect more easily with them.

Guideline 3: Stress Benefits, Benefits, Benefits!

I know…I know…this is hammered home in every sales course you’ve ever attended.

But, the fact is, sometimes we get so interested in making a deal for ourselves that we forget to stress the benefits for the client, the lender, the contractor or anyone else we deal with in the real estate business.

So, remember to always answer the eternal question of clients and others first, “What’s in it for me?” If you do that to their satisfaction, you’ll make more profitable deals and connections.


And also remember that many needs are common (e.g., save money, make money, get security, etc.), but everyone thinks that their need is unique. So, listen closely and show them that you understand those needs!


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