Up, Down, All Around

The stock market is down.  The stock market is up.  People aren't buying houses.  People are starting to buy houses.  Rates are down.  Up a little.  Down.  All around.  Change seems to come hourly.  You may not like it, but it is to your advantage to be able to discuss these topics and reinforce your reputation as an expert.  People want to work with someone they trust and your knowledge is one of the simplest way to become a trusted advisor. 

Here are some tips on how to talk with referral partners and prospects in this type of market.

• Understand your local market and stay on top of new developments and statistics.
  

• Understand rates and what moves them.  Read market updates EVERY day.

• Look for opportunity to discuss these issues.  Not in an overly technical way, but in a personable, friendly way.

• Dwell on the good, the positive and the silver lining .  Yes, it is possible.

• Don't dominate the conversation, but make sure you are part of it.

• Let people know they can contact you at any time if they have question or need help with anything.  You have to verbalize that you are a resource.  This will get your phone ringing.

• Use these as starters... "I saw an interesting article the other day..."  "Isn't it crazy what's happening to our values (or values in other places)..."  "I'm amazed at how low rates are..."  "One of the silver linings to all this mess is that rates are so low..."  "This is an amazing time to buy a house..."

• Be friendly and upbeat.  People will ALWAYS choose the "nice" person over someone else with similiar rates and fees.

• My best suggestion.... Just do it!  Get out there and start talking with people.  Don't wait for your phone to ring (since it probably won't just magically start ringing without effort on your part.)  Even if you feel hesitant or unsure of your knowledge on these topics, your opinion is enough reason to start talking.  Let people see your passion and dedication to this industry.  Even if there has been a bit too much change!

Comments

[Elizabeth]

Talking with people is my BIGGEST challenge. I love what I do, but I always worry that people will think I am pushy. These are wonderful suggestions... I've already got them printed out and on my desk!

[john fortener]

I try to keep up with everything, but some things are changing so fast, it makes it difficult to stay on top of things. But I do agree, stay in front of your referral partners and be a source of good timely information.