What is the OFQ framework?

The OFQ framework by Phil M. Jones stands for Opener, Fact, and Question. It’s a simple structure to start conversations, share context, and ask curiosity-driven questions.

Why is the OFQ framework effective when rates drop?

It keeps conversations natural and client-focused, helping buyers move from hesitation to clarity without pressure.

What should agents say when rates start to fall?

Use openers like ‘Hi, it’s Sarah from Compass Real Estate’ followed by a fact such as ‘Rates have started to come down,’ and then ask a question like ‘How would you feel if you could get into a home now before prices rise?’

How can this script be personalized for local buyers?

Reference local markets, neighborhoods, or buyer situations — for example, ‘We talked last spring about Franklin. Rates have dropped since then — what questions do you have about what that means for you?’

Where can agents learn more about buyer conversation strategies?

Referral Boss provides training and playbooks that teach agents how to lead confident client conversations in changing markets.

Exactly What to Say When Mortgage Rates Are Dropping

Relationship Building

Tuesday, September 09, 2025

Exactly What to Say When Rates Are Coming Down

For the last 18 months, most buyers have been sitting on the fence.
They’ve been waiting. Waiting for rates to drop. Waiting for “the right time.” Waiting until the headlines gave them permission.

And now?
Rates are actually coming down.

So the big question is: What do you say to a buyer who’s been waiting?

This is where Phil M. Jones’ OFQ Framework comes in: Opener → Fact → Question.

It’s simple, it’s conversational, and it shifts buyers out of indecision without pressure.

Step 1: The Opener

Start with who you are and why you’re reaching out. Keep it light, keep it human.

• “Hi, this is Sarah from Compass Real Estate.”
• “Hey, it’s Mike — we talked a few months back about your plans for moving.”

No need to launch into a pitch. Just open the door.

Step 2: The Fact

The fact is the anchor. It’s the thing they can’t argue with — a mutually agreeable truth.

Right now, the fact is simple:
Rates have started to come down.

Everyone’s seen it on the news. They’ve heard whispers from friends. Some of them may have even noticed lenders advertising lower rates.

This is powerful because it aligns you with their reality. You’re not selling, you’re confirming what they already know.

Step 3: The Question

This is where most agents go wrong. They leap straight into:

“So, are you ready to buy now?”

That’s too blunt. It shuts down curiosity.

Instead, use a curiosity-driven, easy-to-answer question.

Here are three that work beautifully right now:

1. “What questions do you have about rates coming down?”

2. “How would you feel if you were able to get into a home now at today’s lower rate — before prices adjust upward?”

3. “Most people I’m talking to right now are realizing it’s not just about the rate — it’s about finally getting the right home at the right time. How does that feel for you?”

Notice what’s happening here: you’re not giving them the answer. You’re creating space for them to lean in.

Why This Works

Phil Jones calls it “the magic of words.” And he’s right.

• The Opener earns you permission to be in the conversation.
• The Fact establishes common ground.
• The Question turns the spotlight onto the buyer, giving them ownership of the next step.

And when you combine OFQ with future pacing (like “How would you feel if…?”) and social proof (like “Most people…”), you’re not just delivering information — you’re guiding decisions.

Putting It Into Real Estate Context

Here’s how a full call might sound to a buyer you spoke to six months ago:

“Hi, this is Sarah from Franklin Realty. We talked back in the spring about your plans to buy once rates came down. Rates have actually started to drop in the last few weeks. What questions do you have about what that means for you?”

Simple. Conversational. And powerful.

From there, you can layer in:

• “How would you feel if waiting meant the right home slipped away?”
• “What do you understand about how lower rates can push prices up if more buyers jump back in?”
• “Before you make your mind up, would it make sense to run the numbers together so you can see exactly what buying today looks like compared to waiting?”

Each question creates curiosity. Each one moves the conversation forward.

The Bottom Line

Buyers aren’t looking for more information. They can find that online.
What they’re really looking for is someone who can help them make sense of it all.

When rates are dropping, don’t just celebrate the headline — use the OFQ framework to create clarity, confidence, and momentum for your clients.

Want scripts like this generated for your exact scenario?

I’ve built a Phil Jones Custom GPT that gives you tailored conversation starters and questions using the same Exactly What to Say principles.

If you want access, just DM me or text me and I’ll share it with you.