Blog & News Articles

Communication plays a huge role in making sales. Asking the right questions could be the one major factor that gets you the deal or not. Unfortunately, asking the right questions isn’t always as intuitive as it seems, like it should be. If you’ve ever had a lead straight up refuse to answer your questions, only respond with one-word answers, or hedge their responses, it’s not because you have a problematic lead on your hands. It’s because you haven’t (yet) mastered the art of effective sales questions.  

Last week, interest rates surged to their highest levels in only a month and of course homebuyers have been turning their heels. The total applications for mortgage have decreased significantly as the interest rates have risen. Mortgage applications to purchase a home fell 4% for the week but were 7% higher than a year ago. Buyers are now facing a tightening supply situation once again. The inventory of homes for sale was rising sharply in the second half of last year, but the gains have been shrinking, and inventory is already lower annually in some major metropolitan markets.

While competition in housing seems to have cooled earlier this year, trends show that the housing shortage is on the horizon yet again. Supply is soon expected to drop and potentially hit a new low, after increasing in the second half of last year. The number of for-sale listings was up 2.8% annually in June, but that was down from May’s 2.9% gain. Inventory gains began to slow this year from 6.4% growth in January to 5.8% in February. Profits continued to slow throughout the spring and supply is now expected to flatten over the next three months and could hit its first decline in October of this year, according to realtor.com.

What’s more important to you – sheer numbers, or referrals & repeat business? Transactional agents focus on the numbers while relational agents focus on building their business through referrals and repeat business by taking time to nurture connections. The truth is, if you want to achieve lasting success in our changing industry, it’s essential to nurture your relationships with your best clients.

At any level, meaningful conversations are created through connections. To develop your relationships, or to make an impact and generate results, it is crucial to building your communication skills. In Real Estate, conversation can make or break a deal. The way you communicate can make a world of difference in closing a transaction or losing it.