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First Home Buyer Hub Make an offer Ask open-ended “What?” And “How?” questions

Ask open-ended “What?” And “How?” questions

Chris Voss recommends using calibrated questions when negotiating. These are approachable and non-threatening questions leading with “What” and “How”. An advanced technique is to ask the same question three different ways:

  • What are the sellers doing after they move out?
  • What are the vendors plans once they sell?
  • How soon are the vendors looking to sell?

This method gives the Real Estate agent time to think, and possibly let slip some information that can help your negotiations.

We covered the key questions to ask the Real Estate agent in Chapter 6, but let’s quickly recap. Here’s what you need to ask:

1. What are the vendors reasons for selling the property?

2. How long has the property been for sale?

3. What was the original asking price?

4. How negotiable are the sellers on price?

5. What do you think the lower price they are willing to accept?

A good real estate agent will work hard for the seller to get the best possible price. So you need to remember that the Real Estate agent, while helpful, isn’t working for you.

Ask open-ended questions

In other words, you need to consider the Real Estate agent’s motivations.

1. They want to be able to sell the property at the best price

2. They want to be able to sell the property in the shortest timeframe possible.

Ideally even before the property hits the market, that way they don’t even need to do an open inspection!

Thinking about the real estate agent’s motivations can help you better position your offer, and remember when dealing with Real Estate agents try to use open “how and “what” questions.