You’ve got your head in the game, ready to serve your clients in all ways: prepared to please, and ready to open, work, and close. Your brand game and in-your-face strategy is strong. So what’s the next thing you – a new agent now, all “Hollywood” – need to consider as you prep yourself for meeting buyers and sellers in the walk-through?

Shut Up and Listen

The first thing you should pay attention to is your mouth – the best and worst thing you have going for you. Your mouth can both earn and cost you money, like mine has done for me. I mentioned this earlier when I talked about first appearances, but here it’s a matter of allowing the information to get to you before you piss off the person giving it – the potential client.

You want to be a great closer? Listen up. Seriously, in general, listen. Real estate is constant negotiation, and the more information you have – the more understanding of the motivations of all parties – the more effective you’ll be in getting the best deal. You can’t shut up enough if you want a killer close. Either you’re a beast or you’re not, but even beasts have to hold their tongue, open their ears, and pay attention.

Microsoft oversaw recent testing of the attention span of today’s average person. Scientists studied 2,000 people and the EEGs (electroencephalograms) of 112 more and found that, since the year 2000 to the present day, the human brain has dropped its ability to hold focus from 12 seconds to 8 seconds. That’s right, 8 seconds! This means buyers’ minds are wandering before you even get through the foyer. If you have so little time, talk fast. I don’t mean blurt it out, cutting people off. I mean start with the most important strategy, or selling points. Focus the client, then shut up and listen.

Mastering that aspect of real estate time had a huge impact on my closes. If I didn’t hang onto the potential client’s words, I missed too much that’s important for leverage during the close. Even worse, I pissed people off. Do that and there’s no deal.

In the early days of the Altman Brothers, Matt and I were walking a house with an elderly seller. As she was taking us through her home I was already crunching numbers, fully aware that the place was a shithole. Matt, being Matt, was cued into the seller and her relationship with the house. As we went through rooms, she said thing like “here is where my daughter got married” and “this basement has seen its share of slumber parties.” I heard her, but I wasn’t really listening. I was in my head, already deciding it all. At the end of the tour, she asked us what we thought. Matt opened his mouth to speak, but I beat him to it.

“This house is a complete tear-down.”

The woman snapped. I mean she was heated. She grabbed us both by the collars and yelled, “Get out!” Then she pulled and pushed us through the front door, her bony hands around my neck like in a horror movie. I was so shocked all I could do was laugh. Matt and I ran down the front walk to the car, fleeing before she pulled out a shotgun or came out after us with a knife. She was mad.

Inside the car, Matt exploded, “What the hell is the matter with you?!” I was laughing so hard I couldn’t look at him. Matt understood the emotions of real estate long before I did. The woman loved her home. It was her baby, and I had just suggested we destroy it. Why? Because instead of listening, I was in my head making moves as if she viewed the selling as a business deal. What I should have been doing was listening, searching for the “golden hammer.”

The “golden hammer,” as we like to call it, is the detail or tool that gives you the leverage you’ll use in negotiations. You have to listen to get all the details and you have to quickly sift through those details to find the golden hammer. Golden hammers can range from the knowledge that the sellers are getting divorced to withering assessments such as “the pool looks like it was dug in the 1940s.” Golden hammers are the issues – small and big – that you use to beat the hell out of your opponent. It’s what you need most to get the best deal for your client.

We’ll come back to it later and talk about how to use it best, but you need to know now that this is what you’re looking for even before walking through the door. Keep track of your hammers as you work the deal, because you never know what you’ll need for the close.

As you listen, look for a pause, a hesitation, a deflection, or a question left repeatedly unanswered. Usually if someone doesn’t answer a question, there’s something they don’t want to talk about. They don’t want to lose money. They don’t want to give you the hammer.

This brings us to 20 Questions. We all know this game: You ask an opponent questions that must be answered with only a “yes” or a “no,” then try to figure out their secret identity.

When I walk through potential listing, I’m on it. I’m asking 20 Questions, but I’m not really looking for a “yes” or “no” answer. I’m looking for deeper emotional responses. As you may remember with the old lady who tried to choke me out – and she really did try – real estate is about emotion, at least the first time around.

The rational mind will eventually show up, but you can’t rush real estate. Let people pour their hearts out; you pay attention, look for the golden hammer, then become a killer negotiator for your client. I need a lot of answers in a short amount of time. In a perfect world, those answers come before the listing agreement is signed so we can cut right through the crap.

Listen, the point is to get the seller to sign, but it only helps you later to get all the details now. That way you know what tools you have to use when the final battle goes down. This is war. Details are your weapons. The gold hammer is your canon. If I learn my sellers are getting divorced, they might want an all-cash offer, even if the offer is lower, just to move on; that leaves an opening for a fast close.

If a buyer has to move into the city to begin work on September 1, they might spend more to get the kids here for the start of school; that means you might show a pricier listing. That’s why you play 20 Questions. You’re searching for your close.

Now, while Matt is busy holding the scorned divorcee’s hand about selling the home in which she raised her kids, I am more likely crunching the numbers and figuring out all the angles. Still, we have two sets of questions, one for sellers and one for buyers. I change them up based on the situation, my instincts, and who is leading me through the house. I play the game as it goes. I smile. I hustle. I ask. I listen. I dig for the golden hammer. I open to close.

The Altman 20 (Questions for Sellers)

1. Why are you leaving such a beautiful house?

   A little flattery and a bit of fishing for the truth about why they’re leaving, and why now, will pay off. Too small? Too big? Kids? Relocation? Death? Divorce? I hate to say it, but a client’s divorce can be an agent’s friend. I usually can land two separate clients from one home. Just saying.

2. When did you buy this house? Who from? Does the house have a story?

   If the present owners built the house, the answers to these questions take a bit of time, but are usually worth it. A builder can tell you problems you would have never seen until inspection. Or, if there is cool, unique history behind the house, you can use it to target certain buyers it might appeal to.

3. Do you have children? Did they like the house?

   Kids are a huge driver for families. Is the house kid-friendly or a death trap? How many kids lived there, and who fit where? If it’s an obvious bachelor pad I skip this one.

4. What do you love about living here?

   Listen hard here. People actually tell you what to use in your closing strategy. Steal it. Use it. Sell it. If the house has an eight-bay climate-controlled garage, I’m calling car collectors. What speaks to one owner about a house will usually speak to another.

5. What would you change?

   I used to say “what do you hate about this house?” and people got defensive. They are aware they are opening me to sell their house and they don’t like to talk trash. So I’ve softened my approach, and the answer is something I can use to soften a buyer. It will be my “give to get,” showing the potential buyer that I too see a small flaw, and I’m not working them over. I’m being honest.

6. Did you entertain? Often? How?

   This is LA, of course there were parties! Find out what kind of entertaining went down in the house and you’ve got yourself a target on a style of buyer.

7. Did you like the neighborhood?

   This one’s huge. Listen carefully to what you hear and what you don’t. Was this a good ’hood for the adults or the kids? Is it a trick-or-treat Halloween block? Bikes ever stolen? Were you in walking distance to the park, the bar, the market?

8. How are your neighbors?

   I make good use of responses like “the dude across the street turns into a rowdy Philly Eagles fan every Sunday,” or “I’ve never met a one of them” during showings.

9. How did you use the outdoor space?

   In my market, backyards most often have infinity pools and spectacular landscaping. These features may not be the right fit for everyone, but details about how a family used these premiums – or didn’t – can make great talking points and add big to the final price of the property.

10. Have you updated the kitchen during your time here? Did you replace any appliances? Backsplash? Counters? Sinks? Floors? How long ago?

    Kitchens are a flashpoint. New appliances and a working island with eat-in capability are essential in my market. What’s essential in the kitchens in your market? If there’s updating to be done, warn the seller it may come off the list price, setting up that for conversation later.

    Otherwise, ask about any “green” updating – solar-generated energy, water-saving appliances, saltwater pools, or sustainable materials. Younger buyers love that stuff, especially in LA. Have your Dream Team contractors in mind to recommend, should they make any updates to the property.

11. Let’s talk bathrooms. Have you renovated lately?

    Bathrooms are another flashpoint. From my point of view, you can’t have a master bath big enough; it’s good for marriage. Whirlpool tubs, double vanities, steam showers, double rain showerheads, heated floors, and lots of storage are high on “want” lists. Stay on trends and accentuate any positive aspect about bathrooms; beautiful bathrooms sell houses. And again, remember your Dream Team.

12. What parts of the house did you spend the most time in?

    Usually, I hear kitchen, bedrooms, and media or family room. Isn’t life about food, sleep, and TV? Sometimes I get a unique response that gives me a style of buyer to hunt out.

    A couple years back I sold a house where one floor had been converted to a recording studio. My colleague brought in his client, a young songwriter with wealthy parents, to see the house. It was perfect; she loved it. I used this as leverage and got the other agent up during final negotiations. Where else would she find a ready-built studio designed and built by a famous musician? I was pumped.

13. Do you have security systems working? Have you installed CCTV cameras? Is there direct street access to the front door? Are there sight lines from the street?

    I work with famous wealthy people whose jobs come with safety concerns. They have stalkers. It’s crazy. Sure they can afford to wire a house and put in front gates, but if I can use security details during a showing, I want to know. No celebrities enjoy a tour bus pulling up as they take out the trash. Know security coverage and the neighborhood’s crime report.

14. What were your commutes like?

    This is a huge quality-of-life question in most American cities. My clients don’t have as many issues with commuting. They run the company, are on tour, or are making films. But most buyers do; on average, this is a hot button and you need a sense of where you are. If the house is an hour from the city’s center, it’ll be tough selling it to someone on a tight clock. Know your client’s life, whether buying or selling. Then play on what they need.

15. May I walk around the house outside?

    Curb appeal is huge. So is easy access around the property. If you find tilting brick walls or imploded garden sheds, you know what to do – leverage on pricing and remember your Dream Team. Yards and outdoor spaces matter; UK’s The Guardian found that a garden added 20% to the final price of houses. The Brits have always loved their gardens, but now Americans have gone nuts for the natural world. Southern California has always done the indoor/outdoor living thing really well, and my clients expect it.

16. What did you pay for the house? What price would you like to list?

    This is a loaded question with an often-laughable answer: The first part of the question is public information; any self-respecting agent already knows the last sale price coming in it, and knows it will have a huge impact on the list price and negotiations. If your seller overpaid, the next buyer’s agent should know that, and counter the price accordingly.

    If the seller wants to overprice, tell them your concerns. If you don’t speak up, the client will blame you completely if the house fails to sell. Although a firm pricing agreement is not required now, this is a good time to plant a seed in your client’s mind about pricing. More on this in a bit.

17. Can we talk about timing?

    In my sellers’ market, houses fly. They change hands overnight. Some clients prefer pocket (exclusive) listings because they are unadvertised. They want it before it goes on sale. They want privacy. Negotiate the length of the agreement now; only you can assess the amount of both time and money you’ll invest to sell the property. More on this, too, in a bit.

18. Will we be able to show the house when we need to?

    From the door, emphasize to your potential clients that the more they make the house available for you to work, the faster you can close. Reinforce the “team” element of your work. They need to trust you. You can’t sell a house you can’t show.

19. If I end up representing you, how would you like to communicate? Phone, text, email?

    We’re available 24/7 for our clients, but the client doesn’t always share the same motto. That can get tricky with showings. Still, as an agent it’s a must. Never leave a client hanging. Success in real estate is 90% about communicating with and managing your client: You avoid misunderstandings by staying in touch.

    I remember a season or two ago on the show, my colleague had a developer’s listing and I jacked it because he hadn’t called the guy in months with an update. Don’t go quiet because you have no offers to report. I have never had a client say, “don’t call me so much.” Every week call your active opens, or call a few of them every morning before you hit the street. Send a quick text or email.

    Just do this and you’ll see your stock rise. Clients love feedback. They need to trust you. If you have nothing to tell, still don’t leave them hanging. Walk into the punch. Take the hit. Get it over with. It beats the alternative – losing them.

20. And here’s the pitch:

    We whip out our stats. They speak for themselves. We preach our availability, 24/7, unlike no other agent. We’ve got your back, any time, any day. We let the seller know they are the coach. They call the plays. We’ll give it all we have. We’ll make money. We mean it and we do.