Are You the Favorite or the Fool? Find Out Fast

by Laurie Gilmore

We’re back and ready to dive into section 2 of the New Client Discovery Call framework!

(If you missed the overview and section 1, click the links to get caught up.)

In section 1, you asked: is there a deal here? In other words, is this person a serious buyer or seller who’s ready to move now?

In section 2, you have a new question: is there a deal here for me? 

In other words, does this person really want to work with ME? Is this MY client? 

The sequence is intentional. In the first section you uncovered the prospect’s hopes, dreams, fears and concerns, and you made them feel understood. Now you’re going to discover if you’re the person they want to help them achieve those hopes and dreams and avoid those fears and concerns.

The underlying concept at play here is the Favorite or The Fool.

By the time someone reaches out to you about your services, they already have a favorite person in mind—even if only on a subconscious level.

The best predictor of future behavior is past behavior. They already have a track record as to how they make important decisions, and they’ll most likely make this decision in the same way. 

Understanding this will save you from indulging in the delusion that if you just pitch your value proposition correctly, or you put together the best listing presentation, you will be sure to win the listing or the buyer.

In this section you are gathering “proof of life” so you can move forward or exit gracefully. 

➡️ Find out how an agent fits into their vision.

You can do that by employing a few Calibrated Questions (questions without a simple ‘yes’ or ‘no’ answer, which inspire the other person to think):

“How do you see an agent fitting into your vision?”

“What are you looking for, specifically, in an agent?”

“What don’t you want in an agent?”

Alternately, you might choose to approach this with Asking Labels:

“You probably have a clear vision of how an agent will guide you through this process. Would you be opposed to walking me through your vision?”

“It seems like you have some very specific things you’re looking for in an agent.”

“There might be some qualities you really don’t want in an agent. Would you be uncomfortable sharing those with me?” 

Listen closely to what they’re saying here. 

Pay attention to both verbal and non-verbal clues as to whether they seem to be talking about you, OR talking about someone else, OR about agents in general.

Are they using phrases like, “We want an agent who would….”, or “We hope that you would …….”

Are they forthcoming with information, or are they withholding? Do they seem uncomfortable or irritated by the questions? 

If you are the Favorite, the other person will readily share their thoughts with you. 

They will tell you about their likes and dislikes. If the other person is holding their cards close to their chest, or they have no interest in establishing rapport—maybe they’ve been continually deflecting questions about themselves throughout the entire conversation, and wanting only for you to give them a valuation—you’re most likely the Fool. 

As agents, we often hesitate to ask prospective clients what they want and don’t want in an agent because we’re afraid that we’ll hear something that doesn’t match up with who we are. We are afraid to seek out the truth. We default to the practice of telling people what they should want (us). 

We don’t need to change what people are thinking. We don’t need to change what people want. We need to understand what they’re thinking and feeling, in order to see if we are in alignment.

➡️ Get proof of life.

“I’m curious, of all the agents you could have reached out to, why me?”

Here you’re listening for specific reasons indicating that you are the Favorite (i.e., “Joe worked with you and said you were the best”) vs. general reasons indicating you’re just one of many, a commodity, the Fool (i.e., “I saw your flyers in the neighborhood, and we’re reaching out to all the neighborhood specialists”).

If someone has referred this person to you, ask them for specifics. Ask what was said about you that most resonated with them. Remember that your value proposition coming out of their mouths is much more valuable than you saying it. 

Label whatever positives work in your favor. 

By confirming the positive things they’ve said about you now, it becomes much harder for them to backtrack and question your value later.

(Again, this is why the sequence matters. You want to gather these positives before you present your standards in the next section.)

Given what you’re just heard from them, you’re probably able to make an educated guess as to whether you are the Favorite or the Fool. 

➡️ Get confirmation as to whether you are the Favorite or the Fool.

If it seems like you’re the Favorite, find out for sure:

“At the risk of being presumptuous, would I be wrong to assume that you would like to move forward with me as your Trusted Advisor?”

If they confirm that they would like to work together, you’ll continue on to section 3 of the conversation, which we’ll detail next week. 

If it seems like you’re the Fool, find out for sure:

“Would it be wrong to assume that you’re probably interviewing other agents?”

This is a crossroads moment—a moment in which you can take control of your work, your time and your life.

How often do we have a sense that the person we’re speaking with is speaking to us as one of many? We suspect they’re probably interviewing several people, but we choose to ignore it. We focus only on the fact that “at least I’m in the running.”

We each have a choice to make in terms of how much of our time we will spend on low probability outcomes. Are we going to chase every shiny object and compete in the commodity beauty pageant, or will we focus only on those people who view us as a trusted advisor?

Posing this question—"Would it be wrong to assume that you’re interviewing other agents?”—is a prime example of getting out in front of something instead of wasting time waiting to find out.

How this person reacts to the question will reveal valuable information as to how they view you. 

If they’re hesitant, or they refuse to answer the question, that’s strong evidence that you are the Fool. If they readily affirm that they are interviewing other agents, follow up for more specifics:

“If you don’t mind, who are you interviewing?”

“What made you reach out to those particular agents?”

Again, if they’re not answering your question—they’re answering your question. You are the Fool.

If they do offer up specifics, LISTEN. 

Are they interviewing agents you’re familiar with? How do those agents differ from you? Are they more of a “local expert?” Have they sold more in that particular price range? 

If there’s something about those agents that indicates they are more in line with what this person laid out to you when they spoke about what they were looking for in an agent, label that. Get bold. Get brave. Get the elephants out into the room.

➡️ If necessary, exit gracefully.

If what you’ve heard throughout the conversation leaves you feeling, in your gut, that you are not the right fit, you might choose to exit gracefully at this juncture. Send them off in a limo—in other words, make sure their last interaction with you is a positive one. That might sound like:

“It sounds like you’re leaning in another direction. It seems like you have some great choices. Once you’ve met with those other agents, if you have not found your ideal Trusted Advisor, would you be opposed to reconnecting and picking up the conversation?”

If what you’ve heard throughout the conversation, leaves you feeling that this person wants or needs to go through a particular process before they make a commitment (perhaps they’re an Analyst), you may set up the next step with something like this:

“It sounds like you’re doing your due diligence and meeting with a few agents before you identify your Trusted Advisor. Once you’ve met with those other agents, would you be opposed to reconnecting? If I haven’t heard from you by x date, would that be a bad time to check back in?”

Be bold. Be brave. Be curious. 

And stay tuned for section 3 of the conversation next Friday!