Can you guess the most powerful words in real estate? What do you think they might be? I’ll tell you what they are, but they’ll likely be somewhat unexpected. When you find out, you’ll probably be in one of two camps:
- “No, that’s stupid and not true!” or
- “Yep, I hadn’t thought of it, but that is so true.”
Let’s find out what you think.
What Are the Most Powerful Words in Real Estate?
The most powerful words in real estate are simply these four: “Who do you know…?” This isn’t just important for you to know, it’s important for you to bring to every conversation and every transaction.
If you’re a real estate agent and you’re not bringing these four words into your conversations and asking them of every prospect, then you’re leaving a TON of money on the table. Here’s why these words are crucial to your business and how you should be using them every day.
Why To Ask “Who Do You Know?”
Obviously, the main goal of any good real estate agent is to get more prospects, more clients, and more closed deals. But you’re not going to be able to do that alone. As great as you are as an agent, you’ll get nowhere without people in your life helping you build connections.
When you ask a prospect or client “Who do you know…?” you should follow up with something like “who may want to sell their home within the next 60 to 90 days?” By asking this very simple question, you’re able to leverage the relationships your prospect already has as new relationships for you to help you in your business.
With that simple question, you’re driving your prospect to think. Now, while you’re only talking to one person, they’re going through their personal Rolodex and thinking of anyone who may be interested in your services. Thus, you’re now tapping into the 10, 20, 50+ other people that your prospect knows may be interested in your services.
That’s right…by asking those four words, you are tapping into 50 potential clients that you could end up working with within the next few months!
How To Ask “Who Do You Know?”
So, now that you see why it’s important to ask this question of prospects and clients, how do you actually go about it? You obviously can’t jump into a conversation with that question alone or you’ll come off sounding pushy. How do you ask this question effectively?
Here are a few common ways to leverage these four powerful words in your conversations:
- “Who do you know that might be interested in learning about homestead exemptions?” (This is great for catching seller leads.)
- “Who do you know who is thinking about buying a home this year?” (This is great for catching buyer leads.)
- “Who do you know that I could help?” (This could catch both buyer and seller leads.)
- “Who do you know that could use an investment property?” (This is great for catching investor/buyer leads.)
Ask any of these questions near the end of a conversation with your prospect after you’ve already helped them meet their need. If you do, you’ll effectively be set up as the “expert” who can help people with whatever problem they’re facing when buying and selling real estate.
So, next time you have an exchange with a client or prospect, make sure to drop the four most powerful words in real estate. Ask your prospect who they know who could benefit from your help and support. Don’t be surprised if you end up earning hundreds more clients every year by using those four simple words.