The hit movie "Almost Famous," has been out on video for a while; it has a lot of amusing scenes in it, but there's one scene that can show the real estate industry an important lesson. That's the power of demonstrating what you can do instead of wasting time defending what you are worth.

Stillwater, the up-and-coming rock and roll band that is the focus of the picture, is informed by its English cockney-accented manager that the record company is sending a big-time manager to take over the band's tour. Despite his screw-ups, the band is loyal to the first manager, and shows a united front of disdain when the new manager, played by Jimmie Fallon, walks in the room. Already hip that the band doesn't want him, Fallon immediately nods that it's all cool, but then he launches into the reasons why he's there. After outlining how the previous manager's mistakes could have been turned into profit opportunities instead of profit drains, he also hits them with where they are being hit with charges they shouldn't be paying. "Do you know how to not be charged for the ice (the ice rink under the flooring) when you're playing Chicago?" he asks. The band shakes their heads dumbly. Next scene - cut to the band slo-mo walking toward their new rented jet, with Fallon in the lead and the first manager trailing behind.

The lesson is that Fallon's character was adroit at overcoming the biggest objection in sales - "I don't want what you're selling." He expected attitude, he was prepared, and he knew what to say to get his clients' attention and turn them around to his way of thinking.

Could you do the same thing if a client said "I don't want to pay an agent?"

Agents face potential commissionectomies from hostile sellers who don't want to pay a commission and hostile buyers who don't want to commit to working with one agent or even one lender, for that matter.

So how do you get their attention?

Stillwater thought the band was in good hands until they found out otherwise, and many buyers and sellers go boldly forth under the same delusion. Many believe that because they can find housing prices and comparables on the Internet that they don't need an agent to price their homes or find them a home. They are difficult to convince early in the game - before they waste valuable money or time.

What Fallon didn't do was waste time justifying his take with vague promises of "service" or "experience." Yet many Realtors, when justifying a commission do just that, and it fails to convince many sellers and buyers. Otherwise, how do so many FSBOs end up with a sign in the yard? How do so many buyers end up at closing without an agent by their sides?

What convinces buyers and sellers are specific questions that will capture them early in the game and make them loyal to you.

So instead of telling your client that you are worth the commission because of your service and experience, try asking them a few questions instead. Choose among these to make your point - that you know how to traverse the real estate transaction:

Buyers

Do you know what should be on an owners' disclosure statement?

Do you know who is responsible for what repairs?

Do you know what should be on an inspection?

Do you know how much time to give the seller to move out? Do you know when you should plan to move in?

Do you know which side of the transaction pays certain closing costs?

Do you know how closing costs are figured?

Do you know the difference between how much home you can buy and what you can afford?

Do you know how much your taxes will be next year on your new home, and how it will impact your payments?

Do you know when to lock in a loan?

Do you know how to negotiate with a seller?

Do you know that by working with multiple agents that you are missing out on hearing about certain properties?

Do you know what to do if you can't get funding or homeowner's insurance?

Sellers

Do you know how long you should give a buyer to obtain financing?

Do you know the difference between a prequalified and preapproved buyer?

Do you know how to determine who you should let into your home?

Do you know how long the market says it will take you to sell your home?

Do you know what competitive homes are selling for and why?

Do you know without an agent the liability of the transaction is totally on your shoulders?

Do you know what to do when a buyer has trouble getting a loan or funds are delayed?

Do you know what should be on your sellers' disclosure and your liabilities with regard to disclosure?

Buyers and Sellers Do you know what you should pay/net for a particular home?

Do you know who gets to keep the earnest money if the deal falls through and why?

Do you have a title company or an attorney? Will they advise you beyond the contract?

Do you know what the proper amount of earnest money should be?

These are just a few of the questions you can keep in your mental quiver, and pull out to aim and fire when you are met with a resolute buyer or seller.

While nobody wants to appear dumb, or lacking in knowledge and experience, buyers and sellers want to avoid losing money even more than they want to save face. In your conversations with your buyers and sellers, you can determine which questions will hit the buyer's or seller's hot button. Use them. The questions will demonstrate that you know this business - and you won't have to tell them you have experience or great service.

Published: October 1, 2002

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Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. For more articles by Blanche, click here.