{"id":1351,"date":"2007-04-26T10:37:35","date_gmt":"2007-04-26T17:37:35","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1351"},"modified":"2007-05-13T11:37:49","modified_gmt":"2007-05-13T18:37:49","slug":"an-example-how-to-answer-a-clients-question","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1351\/an-example-how-to-answer-a-clients-question\/","title":{"rendered":"An Example — How To Answer A Client’s Question"},"content":{"rendered":"

Recently I posted on the subject of how to most effectively answer a client’s or prospect’s questions<\/a>. Then, as the universe sometimes does, I was asked a question by a brand new client that is pretty common. On its surface the question might seem facetious, but trust me, its been asked so many times in my office, I know that’s not the case. It usually goes something like this:<\/p>\n

We’ve now banked the $100K from the refinance on our home. But Jeff, we were thinking. How much could it hurt to take just $20K out in order to get (fill in the blank) a new boat, truck, home landscaping? <\/strong><\/p>\n

These days, since I’ve heard variations of that question so many times, I begin by answering with a question, hoping to inject a little humor. I might ask — Will you be able to sell that (fill in the blank) for a million bucks 15-20 years from now?<\/em><\/p>\n

When I pause to enjoy the RCA Dog look on their faces, I then begin to give them a very complete and substantive answer in rich detail. Though I posted it on my blog today<\/a><\/em>, I’ll give you the short answer here.<\/p>\n

\"yacht\"<\/p>\n

In 15-20 years that $20K will likely be directly responsible for an extra $80,000 a year or so in retirement income. If you retire at 60 and live another 20 years, that’s $1,600,000 of retirement income — over and above<\/em> what the rest of your initial investment capital produced over that same period.<\/strong><\/p>\n

Less than half of my clients will ever earn $80K a year on their job. And now they can have that much extra<\/em> every year in retirement.<\/p>\n

Unless of course, 20 years earlier they decided their new boat was worth $1.6Mil in extra retirement income.<\/p>\n

Final note — I sent the link to my blog’s post to the client who most recently asked that question. His response? One word — Awesome!<\/p>\n

And that’s how you answer questions.<\/p>\n","protected":false},"excerpt":{"rendered":"

Recently I posted on the subject of how to most effectively answer a client’s or prospect’s questions. Then, as the universe sometimes does, I was asked a question by a brand new client that is pretty common. On its surface the question might seem facetious, but trust me, its been asked so many times in […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,5],"tags":[],"class_list":{"0":"post-1351","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-investment","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":14236,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14236\/shouldnt-sellers-invoice-listing-agents\/","url_meta":{"origin":1351,"position":0},"title":"Shouldn’t Sellers Invoice Listing Agents?","author":"Sean Purcell","date":"March 1, 2011","format":false,"excerpt":"Based on what I see, the vast majority of listing agents should be billed by the seller, same as they would be by any other third party vendor. The fact that it doesn\u2019t happen simply means most sellers don\u2019t understand what is really going on during the course of a\u2026","rel":"","context":"In "Dirty Laundry"","block_context":{"text":"Dirty Laundry","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dirty-laundry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1317,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1317\/brokers-agents-how-do-you-answer-prospects-and-clients-questions\/","url_meta":{"origin":1351,"position":1},"title":"Brokers & Agents: How Do You Answer Prospect’s And Client’s Questions?","author":"Jeff Brown","date":"April 18, 2007","format":false,"excerpt":"It's shameful the way I used to answer questions from prospects or clients. The excuse of age is available, as I was only about 27 or so. But even youth, or having just transitioned from homes to investments doesn't wash as an excuse for my pitiful performance back then. It's\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1368,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1368\/the-carnival-of-real-estate-30\/","url_meta":{"origin":1351,"position":2},"title":"The Carnival of Real Estate . . .","author":"Greg Swann","date":"April 30, 2007","format":false,"excerpt":"...is at TransparentRE. I can't tell who won, so I'm left with the assumption that Kris Berg did not win, either with Sensible Flats and Social Responsibility or Houses Grow on Trees - Redfin Continues Quest for World Domination. O, cruel fortune! Sadly, Jeff Brown, with An Example \u2014 How\u2026","rel":"","context":"In "Blog Carnivals"","block_context":{"text":"Blog Carnivals","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blog-carnivals\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7747,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7747\/how-india-made-me-a-better-agent\/","url_meta":{"origin":1351,"position":3},"title":"How India Made Me a Better Agent","author":"Sean Purcell","date":"April 10, 2009","format":false,"excerpt":"The following is a true story.\u00a0 The names were not changed and only the mistakes were innocent. Not too many years ago I took a month off and traveled to India (for those new to the real estate profession, there was actually a time one could take a long vacation\u2026","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3060,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3060\/arizona-short-sales-who-are-you-working-for\/","url_meta":{"origin":1351,"position":4},"title":"Arizona Short Sales: Who Are You Working For?","author":"Allen Butler","date":"May 5, 2008","format":false,"excerpt":"I, like some of you, have just received the AAR's May newsletter, in which Christopher A. Combs, AAR's\u00a0\"legal hotline\" counsel, provides a legal treatise on a contractual issue regarding short sales in Arizona.\u00a0 I direct your attention to Exhibit A\u00a0(page 11, dab-smack in the middle of the page).\u00a0 In this\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8261,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8261\/why-dont-realtors-solicit-lenders-for-buyers\/","url_meta":{"origin":1351,"position":5},"title":"Why Don’t REALTORS Solicit Lenders For Buyers?","author":"Brian Brady","date":"May 6, 2009","format":false,"excerpt":"REALTORS constantly solicit banks and mortgage lenders for REO business.\u00a0 Why isn't the producing REALTOR, as a matter of course, soliciting business from loan originators? I posed this question at Unchained Phoenix '09 and you would have thought I asked the REALTORs to walk on coals...at first.\u00a0 A few bright\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1351"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1351\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}