A very effective model to apply to both prospects and current clients is the “Ready, Able and Willing”—RAW-- model. Draw three circles, a “Ready” circle, a “Willing” circle, and an “Able” circle, each one overlapping so that in the center so you’ll find a small section in which all three intersect. This small section identifies those prospects “Ready, Able and Willing”. So, what does this mean? “Ready” means that they will do business with you now, “Able” means they are qualified to do business with you now and “Willing” means they will perform in a way that is necessary given present market conditions.
From my experience as a coach, I believe the “Willing” is the biggest and most important hurdle to overcome. Will the buyer do what they need to do to win the deal? This oftentimes means offering substantially above list, sweetening the deal by absorbing some seller’s costs---both closing costs and possibly, commissions!---being flexible in offering a seller rent back, waiving various contingencies to name a few examples. Will the seller do what they need to do to facilitate a deal? Specifically, in short sale situations, will the seller respond and act quickly to requests for information or documentation? Not doing so can set the transaction back significantly or worst case, hasten foreclosure.
How to determine if a prospect or current client is “RAW?” Have a direct, candid conversation with your buyer and seller to update them on current market conditions and ask if they are truly willing to do what is necessary to achieve their buying or selling objectives. Better to get to the truth sooner than later so you, the professional, can spend your valuable time helping those who truly are “willing”!