When chatting with a client, it’s important to ask them great questions about their goals and objectives.
In this article, I’ll walk you through some powerful techniques that will help guide your conversation. As well as get an understanding of what they need from us so we can best serve them!
What is an LPMAMA?
LPMAMA means location, price, motivation, agent, mortgage, and appointment. A real estate listing system provides you with all the necessary information for people looking to buy or rent.
Why use the LPMAMA real estate script?
Location
Location is an essential part of the real estate process. For buyers, these are the most important questions you will ask yourself during the search.
Why view a house when there is a much better location in town? Location can make or break a sale. You want to know as much as possible about the location of the property.
Furthermore, inquire about your customer’s ideal location. For example, would they prefer a beach or a mountain?
You can ask some other location questions to know:
- Does your customer prefer to live near the downtown area, suburbs, or rural areas?
- Would they prefer a place with amenities such as schools and hospitals? Or is it more important that the house itself is in good condition?
- Would they like to be closer or further away from lakes, beaches, or forests?
- Would they want to live near a busy street or somewhere quieter?
Price
Don’t be afraid to ask your customers what their budget for a house is. Many people are embarrassed by the price they are looking for. So sometimes you might have to get them talking about other things first.
At this point in the conversation, you should already know the maximum amount they are willing to spend on a house.
Most people go through the process of buying or renting a new home for one reason: price. Any real estate agent that is worth their salt will be able to answer those questions!
Initiate a conversation by asking, “How much are you willing to spend monthly for your new home?”
Again, As a buyer, you will need to know what kinds of payments you can afford for this specific property.
You want to make sure you are not overpaying for your dream house when it comes to price.
A too expensive house might be out of your budget, even if the location is ideal.
Almost all of the properties have a full description with a detailed price breakdown. There are many ways to determine how much a certain house costs on the site. For example, some include information about mortgage rates and other fees.
Not only can it help you determine if the house will sell, but some questions to consider are:
- How much are they looking to spend per month?
- How long will their mortgage be?
- What kind of house can they afford with that price range?
Motivation
Having a clear picture of why someone wants to buy or rent is vital in this process.
What motivated them to start searching for their new home? The answers will help you determine if your client needs an apartment or townhouse.
There are three kinds of motivation regarding houses:
- What kind of house would they like? Would they like a mortgage, or would it be better to rent?
- Why do they want to move in the first place?
- How long are they planning on staying there? Do they plan on moving after one month, six months, three years, or more?
If you deal with someone looking for apartments rather than houses, the criteria are slightly different.
For example, someone looking for apartments may be interested in how close it is to schools or public transportation.
The person might also want an apartment that doesn’t require a long commute to work each day if they plan on living there for some time!
So, one of the hardest parts about selling a house is determining how motivated your customer is.
The motivation question can be tough to answer. But, if you know what drove them to search for a house in the first place, it will help guide your conversation. Ask them:
- Why are they moving?
- Was there a lease-up?
- Do they have kids growing up, so they want more space?
- Do they want a new house?
Exceptions
Of course, not all of your customers or clients will fit into the exact mold of one single type. The most important thing to remember is to ask as many questions as possible and listen carefully!
If you ask for too much information, they may become overwhelmed and walk away from the deal. If you don’t ask enough, it might be difficult for you to find the home that best suits their criteria.
Once you ask the right questions, it will be easier for you to determine what kind of house they are looking for and how much they can afford to pay each month!
Agent
You can’t do everything yourself. Having a great agent on your side is important when selling or buying a house.
If you are looking to buy a house, you must have an agent on your side. They will help you find the perfect house for yourself!
There are many types of agents, so you need to choose wisely! If your goal is to sell a house quickly while getting top dollar, then ask around and find out which real estate agent has the best reputation.
If you are looking for a more personal touch, you might want to choose someone who knows your neighborhood.
Some agents will have experience with homes just like yours already! Before you look for a house, make sure you know what you want in an agent. Maybe they need to know about selling houses or if they need to know laws in the area.
The best advice is to ask around about the real estate agents in your area. If you have a good realtor, then you might find that they can help guide or mold your search for a home according to what would sell the quickest out of all the houses for sale.
When you have a realtor, they will also help guide you through the inspection process and help with negotiations for a home purchase if that’s what you decide to go with.
Mortgage
It’s almost impossible to buy a home without good credit, and having good credit will get you the best possible interest rates on your mortgage. You can’t afford to have good credit, but if you don’t have it, then getting it is something you need to do.
If you have bad credit, it might be worth getting some personal loans to pay off those bills and increase your credit score.
If you want a house and can’t afford the monthly payments on a mortgage, don’t despair!
One of the most popular options is renting-to-own houses with established real estate companies or landlords.
You can agree that the house will be yours as soon as you’ve made enough monthly payments.
There are also ways that you can buy a house with no money down!
Your agent might suggest getting a Federal Housing Administration loan or some other type of government-backed lending program.
Getting one of these types of loans might require you to live in a specific type of neighborhood to get accepted, but it’s also a great option for people who have bad credit and can’t afford a house otherwise!
If you’re going to live in the home for a few years before selling or renting it, then getting one of these loans might be an option.
You can buy homes with no money down as long as you’re willing to buy them as a rental property and live in them for a few years.
Appointment
You can’t find a house on your own. This is why it’s important to ask for an appointment with the seller upfront.
Having only one thing on your mind will help you focus, and you’ll be less likely to appear desperate or distracted. You need to know that you’re going to come prepared and ready to buy.
If you’re on the other side of the house search, then make sure to book your appointment and be on time for it!
This will show that you’re serious about buying a house and that you’re not wasting anyone’s time or getting distracted.
Appointments like these can be scheduled in advance over the phone, but you must be there on time if you’re meeting in person.
If you’re running a few minutes late, don’t forget to reschedule the appointment for later. If they have another house to see afterward, they might not even show up at all!
Final Words
If you’re looking for a house to buy, then you should know that it’s going to be a big investment.
There will be ups and downs throughout the process, but if you make good friends with your realtor or agent, they could help you through it all.
I hope you find this LPMAMA Real Estate Script article helpful.
