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019 - The 4 Buyer Personality Types Every Real Estate Agent Should Know (Assertive to Expressive) · The Loan Daddy Podcast

• 0:00
  SPEAKER_00: In an industry where everyone has access to data and information, and everyone knows 10 different real estate agents, being able to connect with people is still one of the biggest competitive advantages that we've had.
• 0:14
  SPEAKER_00: What's up everybody, and welcome to the Lone Daddy Podcast, episode 19.
• 0:19
  SPEAKER_00: Today I want to talk about something that every salesperson at some point learns, but very few consistently implement.
• 0:26
  SPEAKER_00: And this is one of those things where there are some people who are naturally great at this.
• 0:31
  SPEAKER_00: But if we can be more conscious of this, we will connect with more people and ultimately close more business.
• 0:40
  SPEAKER_00: So what am I talking about?
• 0:42
  SPEAKER_00: I'm talking about the personality types, the personality types of a buyer.
• 0:46
  SPEAKER_00: And there are four of them.
• 0:47
  SPEAKER_00: If you've ever worked with a sales coach before, you've probably heard some version of this.
• 0:52
  SPEAKER_00: Being able to identify the personality type of a buyer and adapting to their style will completely change the way that they respond and connect with you.
• 1:03
  SPEAKER_00: And I think this is one of those things that we learn or we're taught that we easily forget.
• 1:09
  SPEAKER_00: We're aware of it for a day or two or a week, and then we inevitably default back to our normal way of speaking.
• 1:18
  SPEAKER_00: But the more conscious we become of it, and the more we practice identifying our clients' personality types, the more natural it'll become.
• 1:28
  SPEAKER_00: So the four types are assertive, analytical, amiable, and expressive.
• 1:34
  SPEAKER_00: And obviously, nobody fits perfectly into one box.
• 1:38
  SPEAKER_00: You can have characteristics of different personality types.
• 1:42
  SPEAKER_00: And the point of all this isn't to diagnose people, it's to recognize how they like to make decisions and how they receive information.
• 1:52
  SPEAKER_00: Because one of the biggest mistakes that we make as salespeople, and I've been guilty of this too, is that we communicate with people the way that we like to be communicated with.
• 2:01
  SPEAKER_00: And of course, we're all different.
• 2:03
  SPEAKER_00: So let's break down the four types here.
• 2:06
  SPEAKER_00: Let's start with the assertive buyer.
• 2:07
  SPEAKER_00: So the assertive buyer wants the bottom line.
• 2:10
  SPEAKER_00: They're decisive, confident, results oriented.
• 2:14
  SPEAKER_00: And normally don't want a 20-minute explanation when a two-minute explanation will do the trick.
• 2:21
  SPEAKER_00: They may say things like, what's the apartment worth?
• 2:24
  SPEAKER_00: What will our offer need to be?
• 2:25
  SPEAKER_00: Do you think we should do it?
• 2:27
  SPEAKER_00: Just tell me what you think.
• 2:28
  SPEAKER_00: With people like this, lead with your conclusion.
• 2:31
  SPEAKER_00: If an apartment is listed for 1.5 million, don't start with, let me walk you through the seven comparable sales, da da da da da.
• 2:38
  SPEAKER_00: Start with, it's listed at 1.5.
• 2:40
  SPEAKER_00: I think it's somewhere between 1.4 and 1.45.
• 2:44
  SPEAKER_00: There are two other interested buyers here.
• 2:46
  SPEAKER_00: If you want it, let's talk and strategize as far as what the next approach is.
• 2:50
  SPEAKER_00: At that point, if they want supporting information, give it to them.
• 2:56
  SPEAKER_00: Quick anecdote here.
• 2:57
  SPEAKER_00: Years ago, I went to this real estate office and had a great meeting with this real estate team.
• 3:02
  SPEAKER_00: There were 10 agents on that team.
• 3:04
  SPEAKER_00: And maybe two hours after that meeting, I get an email from one of the agents who was in that room.
• 3:10
  SPEAKER_00: And the email simply said, What are your condo rates?
• 3:13
  SPEAKER_00: That's it.
• 3:15
  SPEAKER_00: Now I needed more information.
• 3:16
  SPEAKER_00: So my response to that was, I need more.
• 3:20
  SPEAKER_00: Can you please let me know what the purchase price is?
• 3:23
  SPEAKER_00: How much money the person's putting down?
• 3:25
  SPEAKER_00: Is it a primary home?
• 3:26
  SPEAKER_00: Is it a second home?
• 3:27
  SPEAKER_00: Is it an investment property?
• 3:29
  SPEAKER_00: What's the credit score?
• 3:30
  SPEAKER_00: Et cetera.
• 3:31
  SPEAKER_00: I needed more.
• 3:32
  SPEAKER_00: And then at the end of the email, I wrote, for jumbo rates for a condo, they should be around here.
• 3:38
  SPEAKER_00: For conforming non-jumbo rates, they should be around here.
• 3:41
  SPEAKER_00: Never got a response.
• 3:42
  SPEAKER_00: The next day I followed up with that agent, and before I can get a word out, the team lead got on the call.
• 3:49
  SPEAKER_00: And he was clearly a strong assertive type.
• 3:53
  SPEAKER_00: And he was not happy with my email.
• 3:56
  SPEAKER_00: And he said, Scott, if we ask you a question, we need to get the answer.
• 3:59
  SPEAKER_00: We don't have time for a story.
• 4:01
  SPEAKER_00: We just need the answer to the questions that we're asking.
• 4:04
  SPEAKER_00: So if we're gonna work together, answer our questions, and that's it.
• 4:08
  SPEAKER_00: My response was factually accurate, but it didn't land with the client at all.
• 4:14
  SPEAKER_00: I clearly misread this agent and the team's personality type and in turn didn't communicate effectively with that team.
• 4:23
  SPEAKER_00: So how do you spot an assertive buyer?
• 4:26
  SPEAKER_00: Usually very quickly.
• 4:27
  SPEAKER_00: Short questions, short emails, short texts, right?
• 4:30
  SPEAKER_00: The email that I received from that agent, what are your condo rates?
• 4:33
  SPEAKER_00: Didn't even address me at all.
• 4:35
  SPEAKER_00: That was it.
• 4:36
  SPEAKER_00: They're comfortable making decisions.
• 4:38
  SPEAKER_00: They may interrupt you.
• 4:39
  SPEAKER_00: They don't need a lot of small talk.
• 4:41
  SPEAKER_00: And you don't take that personally.
• 4:42
  SPEAKER_00: That's just their personality type.
• 4:44
  SPEAKER_00: They're basically telling you, get me the information I need and I'll make a decision.
• 4:49
  SPEAKER_00: Then there's the analytical buyer.
• 4:51
  SPEAKER_00: The analytical buyer is almost the complete opposite.
• 4:53
  SPEAKER_00: They want information, they want data.
• 4:56
  SPEAKER_00: Most importantly, they want to know why.
• 4:58
  SPEAKER_00: This is the buyer walking around the apartment asking, How old is this HVAC system?
• 5:03
  SPEAKER_00: Are there any assessments coming on into this building?
• 5:07
  SPEAKER_00: Can I see the financials?
• 5:08
  SPEAKER_00: What's the resale history?
• 5:10
  SPEAKER_00: And you answer six questions and all of a sudden there are nine more.
• 5:13
  SPEAKER_00: And that's okay.
• 5:14
  SPEAKER_00: Asking questions is how an analytical gets comfortable making a decision.
• 5:19
  SPEAKER_00: If you tell this person, this is a great building, they're thinking to themselves, what makes you say that?
• 5:25
  SPEAKER_00: So it's up to you to show them.
• 5:27
  SPEAKER_00: Show them comps, give them numbers, give them your reasoning, and do not rush them unnecessarily.
• 5:34
  SPEAKER_00: If there really are multiple offers and a deadline, tell them.
• 5:37
  SPEAKER_00: But manufacturing urgency with a buyer like this can really backfire.
• 5:41
  SPEAKER_00: And you'll spot a buyer like this because they're usually asking very specific questions.
• 5:47
  SPEAKER_00: Their emails might be longer.
• 5:49
  SPEAKER_00: They remember details from previous conversations.
• 5:52
  SPEAKER_00: Take notes with these buyers, by the way, because you don't want them saying, that's not what you told me last Thursday, yada yada yada.
• 6:00
  SPEAKER_00: And they'll often want to research something themselves before making a decision.
• 6:07
  SPEAKER_00: For this person, information creates confidence.
• 6:10
  SPEAKER_00: Then there's the amiable buyer.
• 6:12
  SPEAKER_00: The amiable buyer is more relationship-driven.
• 6:15
  SPEAKER_00: Trust is everything.
• 6:17
  SPEAKER_00: They're usually friendly, cooperative, and easy to work with.
• 6:21
  SPEAKER_00: But sometimes they'll struggle to make a final decision.
• 6:25
  SPEAKER_00: You'll hear things like, I just want to make sure I'm doing the right thing.
• 6:28
  SPEAKER_00: What would you do?
• 6:29
  SPEAKER_00: I just want to talk to my parents.
• 6:31
  SPEAKER_00: I want to talk to my friend who has bought multiple properties.
• 6:34
  SPEAKER_00: Maybe we should keep looking.
• 6:35
  SPEAKER_00: Now imagine with this type of buyer, you've looked at 15 different apartments and then you finally found the one, the perfect apartment for that buyer.
• 6:46
  SPEAKER_00: Don't say we've seen everything.
• 6:48
  SPEAKER_00: This is obviously the right one.
• 6:50
  SPEAKER_00: Instead, something like, let's go back to what you told me was most important.
• 6:55
  SPEAKER_00: You wanted two bedrooms, good light, a doorman, under 1.4 million and close to the subway.
• 7:02
  SPEAKER_00: This apartment checks all five of those boxes.
• 7:05
  SPEAKER_00: So what is making you hesitate?
• 7:07
  SPEAKER_00: Now, with this approach, you're helping them work their way into the decision as opposed to pushing them into it.
• 7:14
  SPEAKER_00: And you'll recognize amiable buyers because they tend to value your opinion.
• 7:19
  SPEAKER_00: They want to know what other people think.
• 7:21
  SPEAKER_00: They may take longer to decide.
• 7:23
  SPEAKER_00: They'll often talk about the people involved in the decision-making process, whether it's their spouse, their partner, their parents, their kids.
• 7:32
  SPEAKER_00: With these types of clients, trust creates confidence.
• 7:36
  SPEAKER_00: Lastly, there's the expressive buyer.
• 7:38
  SPEAKER_00: This person is enthusiastic, they're energetic, they're big picture.
• 7:42
  SPEAKER_00: You will know when they like an apartment.
• 7:44
  SPEAKER_00: Because when they walk in, they'll say, Oh my God, I love it.
• 7:48
  SPEAKER_00: 30 seconds later, they're showing you where their couch is going to go.
• 7:52
  SPEAKER_00: They haven't seen the second bedroom yet, but they're already talking about Thanksgiving in their apartment.
• 7:56
  SPEAKER_00: And you'll want to match some of that energy.
• 7:59
  SPEAKER_00: Don't respond to, I love this place with great, let's talk about price per square foot.
• 8:04
  SPEAKER_00: Let them experience it.
• 8:05
  SPEAKER_00: You told me you wanted a place where you can entertain.
• 8:09
  SPEAKER_00: Well, this is exactly what you were describing.
• 8:11
  SPEAKER_00: Expressive buyers tend to respond to stories and possibilities.
• 8:16
  SPEAKER_00: But there's another side to this.
• 8:17
  SPEAKER_00: Sometimes you'll have to protect an expressive buyer from their own excitement.
• 8:23
  SPEAKER_00: If they're immediately saying, I don't care, offer full asking, you don't have to kill their enthusiasm.
• 8:29
  SPEAKER_00: You can simply say, I love that you're so excited.
• 8:31
  SPEAKER_00: But before we talk numbers, I want to make sure you're aware of two important things when it comes to this specific building.
• 8:38
  SPEAKER_00: You'll spot these clients pretty easily when you see that they're conversational, they're enthusiastic, they're often talking out loud to themselves.
• 8:47
  SPEAKER_00: For these types of buyers, the feeling often comes first and the details come second.
• 8:52
  SPEAKER_00: Here's the easiest way to remember all of this.
• 8:54
  SPEAKER_00: Same$1.2 million apartment for different buyers.
• 8:58
  SPEAKER_00: Your assertive buyer says, what's it worth and what do we need to offer?
• 9:02
  SPEAKER_00: You say, I think it's worth 1.15.
• 9:05
  SPEAKER_00: There are other offers here.
• 9:07
  SPEAKER_00: Here's what I think we should do.
• 9:08
  SPEAKER_00: That is getting to the bottom line.
• 9:10
  SPEAKER_00: Your analytical buyer says, How do you know it's worth 1.15?
• 9:14
  SPEAKER_00: You pull up three comparable homes and explain how you arrived at that number.
• 9:20
  SPEAKER_00: That is evidence-based.
• 9:22
  SPEAKER_00: Your amiable buyer will say, I'm nervous.
• 9:24
  SPEAKER_00: How do we know I'm not making a mistake?
• 9:26
  SPEAKER_00: You bring them back to what they initially told you that they wanted.
• 9:31
  SPEAKER_00: And then you can talk through what's making them uncomfortable.
• 9:34
  SPEAKER_00: This is that reassurance that an amiable buyer will ultimately need.
• 9:38
  SPEAKER_00: Your expressive buyer says, That's it, I love it.
• 9:41
  SPEAKER_00: You match their excitement, you let them visualize themselves there, and then make sure they understand the numbers and the building.
• 9:50
  SPEAKER_00: You're showing them a vision.
• 9:52
  SPEAKER_00: Same apartment, same agent, four completely different conversations.
• 9:58
  SPEAKER_00: Now, how do you figure out which type you're dealing with?
• 10:01
  SPEAKER_00: Here's something you can start doing immediately.
• 10:04
  SPEAKER_00: On that first conversation, pay attention to what they're asking for.
• 10:07
  SPEAKER_00: Are they constantly asking what's the bottom line?
• 10:10
  SPEAKER_00: They're probably assertive.
• 10:11
  SPEAKER_00: Are they asking why, how?
• 10:12
  SPEAKER_00: Show me the figures, they're probably an analytical.
• 10:16
  SPEAKER_00: Are they asking, what do you think?
• 10:17
  SPEAKER_00: What would you do?
• 10:18
  SPEAKER_00: They're probably amiable.
• 10:20
  SPEAKER_00: Are they talking about imagine what we could do with this place?
• 10:23
  SPEAKER_00: They're probably expressive.
• 10:24
  SPEAKER_00: And don't just listen to what they say.
• 10:26
  SPEAKER_00: Concentrate on and look for how they communicate.
• 10:30
  SPEAKER_00: Do they send you a three-word text message or a three-paragraph email?
• 10:34
  SPEAKER_00: Do they want to go over everything on the phone?
• 10:36
  SPEAKER_00: Do they want spreadsheets?
• 10:37
  SPEAKER_00: Do they want your opinion?
• 10:39
  SPEAKER_00: Do they uh make decisions immediately or do they say that they want to sleep on it?
• 10:44
  SPEAKER_00: All of this, they're constantly giving you clues.
• 10:47
  SPEAKER_00: And here's where it gets really interesting.
• 10:50
  SPEAKER_00: Think about a couple buying together.
• 10:51
  SPEAKER_00: You probably know where I'm going with this.
• 10:53
  SPEAKER_00: One person walks into the apartment and says, Oh my god, I love this.
• 10:57
  SPEAKER_00: And their spouse is standing behind them asking about the reserve fund for the building.
• 11:01
  SPEAKER_00: You have an expressive buyer and an analytical who need to make a decision together to buy the apartment or not.
• 11:09
  SPEAKER_00: You can't communicate to them as if they're one person.
• 11:12
  SPEAKER_00: One needs to envision their family living there, and the other one needs to see the numbers.
• 11:17
  SPEAKER_00: And if you're only selling to the louder person, you might be missing out on the person who is being held up or holding up the decision.
• 11:29
  SPEAKER_00: So here's my challenge to every agent who is listening.
• 11:32
  SPEAKER_00: For your next 10 really serious clients that you'll be working with, write down one word next to their name.
• 11:40
  SPEAKER_00: Assertive, analytical, amiable, or expressive.
• 11:44
  SPEAKER_00: And you might be wrong, and that's okay.
• 11:46
  SPEAKER_00: The exercise is about being conscious of it.
• 11:49
  SPEAKER_00: And then before your next showing, listening presentation, or negotiation, ask yourself one question.
• 11:54
  SPEAKER_00: How does this person like to receive information?
• 11:57
  SPEAKER_00: Again, think about that.
• 11:58
  SPEAKER_00: How does this person like to receive information?
• 12:01
  SPEAKER_00: Because great salespeople don't just know what to say, but they know exactly what the person sitting across from them needs to hear.
• 12:09
  SPEAKER_00: And if we can get better at doing this, we're not only going to close a lot more business, but our clients are going to feel like we really understand them.
• 12:17
  SPEAKER_00: And in an industry where everyone has access to data and information, and everyone knows 10 different real estate agents, being able to connect with people is still one of the biggest competitive advantages that we have.
• 12:32
  SPEAKER_00: Thank you so much for listening, and I'm curious to hear from the agents what are some of the strategies you use when facing the different personality types.
• 12:40
  SPEAKER_00: I'm also curious as to what you feel is the most challenging personality type to deal with.
• 12:47
  SPEAKER_00: Feel free to put it into the comments, and I will see you on the next episode.
• 12:51
  SPEAKER_00: Take care.
• 12:52
  SPEAKER_00: Bye.