So far you’ve learned how to generate leads in Part 1 and how to keep them invested through follow-ups in Part 2; now its time to learn how to convert both buyer AND seller leads. We’ll be covering both in this blog post, but first, let’s go over how to convert your seller leads to appointments.
Converting your Leads
Having a Guaranteed Sale Program (learn more about guaranteed sale programs on our Club Wealth blog and video, “Guaranteed Sale and Other U.S.P.s“) is the most effective way of converting a lead to your side. The principle associated with Guaranteed Sale programs is Risk Reversal. By taking out any risk that hinders your lead from choosing you, pressure is removed from the lead and will help you convert most sellers into clients!
For example, one of the Guaranteed Sale Programs Michael Hellickson suggests is “If I can’t sell your home in 30 days or less, I’ll buy it!” You have to be able to stand behind that guarantee, but assuming you can, it is an excellent way to gain the trust of your clients. Other possible GSP strategies are listed on the downloadable checklist!
Real Estate is a service, a sales and relationship style of business. Don’t over-analyze what you list or whether or not the client is a a five star lead, because ultimately a sign in the yard is better than in your car. Think back to the formula for success in Part 1: your ultimate goal is to get that listing posted, no matter the circumstance.
The more signs you have out in the field, the more leads you’ll get through passive lead collection. More leads means more sales, more sales lead to new relationships, and naturally, new relationships means more sales!
What do I need?
You need to be ready to list that home on the FIRST APPOINTMENT. Make sure that you bring the basics, including but not limited to a listing agreement, a key box, and a camera. In addition, you will need your own 44 Point Checklist, which is essential to holding a successful listing appointment. Showing up prepared and confident will inspire the same feelings in your client and assure them that you are here to get the job done!
The golden rule of selling anything: What’s In It For Me? Your clients don’t care if you have fifteen awards, or how many homes you’ve sold in the past. The ONLY thing that should matter is giving the customer what they want.
You get exactly ONE sentence to tell the seller what makes you different from your competitors, make it count!
While touring the home we recommend B.R.O.T. (Build Relationships On Trust)!
This will enable you to connect with the clients at a deeper level, and ensure a smarter conversion to a signed listing.
As you preview the home with the client, use the F.O.R.D. technique to Build Relationships On Trust. Lead the conversation through open-ended questions about their:
Before you sit down to go over the paperwork, you’ll be chatting like old friends!
Educate, DON’T Sell
Educating versus selling will win time and time again. You will get listings far more often than you will by “selling”. If you sell, sell, sell they will tell, tell, tell you to go away.
Coach Michael Hellickson won 93% of the listing appointments he went on. If you want to know how YOU can do that, visit our 37 Minute Listing Presentation blog and video! There you will find the webinar with Michael Hellickson and Mike Bjorkman, along with a free PDF handout!
Once again, don’t over qualify the appointment. A buyer is a buyer is a buyer! As with the sellers, you don’t want to make the buyer come to your office or talk to your lender before they have even looked at homes. Making the buyer feel as comfortable as possible is the best way to get them to buy a home from you.
Give them what they want, NOW, and make your #1 focus getting an appointment, now!
Perhaps the single greatest home buyer lead generation tool is something called I.V.R., or Interactive Voice Response technology.
At one point in time, Coach Michael was getting 6,352 buyer and seller calls a MONTH on his I.V.R. system.
Don’t be lulled into getting, or settling for, inferior I.V.R. technology.
While most I.V.R. companies are getting around a 25% call-to-conversion rate, the company WE recommend at Club Wealth boasts an 82% call to conversion rate, largely due to their advanced technology.
Essentially, I.V.R. is a 1-800-call capture technology. You place a sign rider on your “For Sale” signs, for example, that read: “For a 24 hour free informational recording, call 1-800-xxx-xxxx, extension xxxx”
When a potential home buyer or seller calls the number, the I.V.R. systems automatically captures their caller ID (even if they are calling from a blocked number!) and begins playing them a message about the house!
WHILE they are listening to the recording, the system also calls YOU, or your buyer’s agents!
At the end of the message, the buyer presses one, and is immediately connected with you!
Process of Showing Buyers
Always smile, never pressure. When dealing with a buyer, make sure that you have a closing question: What do you like about the home?; What is your price range?; Is the neighborhood interesting to you?; Would this home be one of your choices? Having such closing questions ready can help you close a buyer or find them another home you have listed.
Other effective closing questions are:
At what price would this be a great deal for you?
If you were to make an offer on this one, what would it be?
What would it take to see yourself living here?
Are there any other questions before we get started on the paperwork?
Check out the download on this page for even more closing scripts!
Lead conversion is a MASSIVE component of your success as a real estate agent! Converting leads is all about the buyers and sellers, not you! Always remember W.I.I.F.M.: that is the only thing clients care about, and THAT’S OKAY. Lead conversion will come easily when you follow these tips and tricks!