Whether you're shopping for a new house, searching out the ideal condominium, deciding on a contractor or investigating your mortgage choices, do you know how to ask questions that will generate answers you may not realize you need? Answers you may not anticipate could prove the most valuable information you'll receive.

Now read that again.

First, if that paragraph got you, how successful will you be with the "legalese" in a builder's agreement, mortgage/charge terms, or even a listing agreement?

Second, buying, selling or leasing real estate, for personal or business use, requires knowledge and skills that usually fall outside mainstream education and the average work experience. Sharpen your communication skills and you'll be less vulnerable to salesmanship and to those who do not have your best interests at heart.

Real estate professionals work for clients within the bounds of Agency common (precedent-based) law, and provincial and federal statutes. Realty Times is dedicated to providing practical, relevant content and useful real estate perspectives. This column continues to share insights on the essential decisions involved in acquiring and maintaining real estate ownership. Beyond using these valuable resources, the important question is, "How are you contributing to your own success?"

If you want to investigate your real estate choices and unearth potential pitfalls before you sign on the dotted, how well have you equipped yourself to gather relevant and essential information? Improving your communication powers may be easier than you think. The main goal is to move from unconscious to conscious or strategic communication where results matter every time.

Do your information gathering techniques need upgrading? For instance, if you want information, ask open ended questions, not closed questions. The questions above are, in order: closed, open, open, closed.

Closed questions elicit 'yes,' 'no' or 'just the facts, ma'am' responses. Open questions trigger information downloading, generate opinions and unleash knowledge thereby shifting the asker's role to one of listener. Open questions, which begin with 'what,' 'how' or 'why,' demand details from the real estate professional, mortgage lender, lawyer, contractor or other knowledgeable person who may have answers to questions you might not realize you should ask:

1. Seller in a listing interview with a prospective real estate broker

   Closed question: Are you experienced at selling properties like mine?

   Open question: What experience do you have selling properties like mine?

2. Buyer searching for the best mortgage interest rate

   Closed question: Which interest rate do I qualify for?

   Open question: How will you determine the lowest rate I'll qualify for?

3. Buyer discussing offer preparation with their real estate salesperson

   Closed question: Should we offer list price?

   Open question: What should we take into account in deciding what to offer the seller?

Learn as much as you can about the professionals and industries that want to sell you something and asking the right questions will become even easier. Professional and trade associations usually have consumer sections to explain their services and how to receive the greatest return on investment when hiring one of their members. While you are there, search out the organization's consumer complaint services, just in case. Each province and territory has a set of real estate laws and a licensing organization, all created to protect consumers. The best protection comes from understanding what you are getting into and how to get out of it in one piece if something begins to go wrong.

Canada's national housing agency, Canada Mortgage and Housing Corporation (CMHC), can be a good one-stop research starting point. CMHC offers many services and information products for real estate and related industries. Be adventurous and visit the "for Housing Industry Professionals" and the "for Housing Finance Clients" sections to explore the real estate perspectives of the businesses and professionals that revolve around your search for a perfect home or office. CMHC's site includes many free-download reports on everything from market trends, like "Housing Starts Will Slow Down in 2007 and 2008," to building products, including windows and energy-efficient systems.

Pay attention to the questioning techniques of the professionals you talk to. You'll learn a lot about what to do and not do when you are conscious of how business conversations progress.

Remember, just because someone asks you a question does not mean you have to answer it. Do you?

Published: June 26, 2007

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Futurist and Strategist PJ Wade is "The Catalyst" - intent on "Challenging The Best to Become Even Better." PJ earned this title by translating the dynamic impact of Boomers and their multi-generation families into relevant insights that start people thinking and taking action—in business and in life. Author of 8 books and more than 1800 published articles, PJ encourages individuals to become their own futurist. PJ writes and speaks about the insight, knowledge and solid decision-making skills that professionals and their clients need to live and work in this vortex of change. For instance, since PJ knows that home is headquarters for the new decades-long "unretirement," she wrote the popular book "Reverse Mortgages: Best Friend, Worst Enemy...Your Choice!", which is filled with suggestions and cautions on protecting, building and managing home equity. Her new business book, "What's Your Point?: Cut The Crap, Hit The Mark & Stick!" will be published in 2012. As The Catalyst, PJ provides strategic communication, client appreciation and advanced education services to the financial, tourism, lifestyle and service sectors - and the clients they serve. A frequently-quoted financial and business commentator, PJ is a thought-provoking strategic speaker who offers practical, real-life suggestions on leaving "the box" behind and embracing Forward Thinking - a talent she regularly demonstrates in this column. For more on keynotes, blogs, books and information on a range of 21st-Century topics, visit TheCatalyst.com.