Online leads are an essential pillar in your real estate business. Part One of this series focused on the online lead generation trends across the US and Canada pre and post COVID shutdown. Part Two introduces the mindset you need to deploy to make more money.
John Marrone, a Business Adviser for the CINC Live Team, has helped thousands of businesses become more profitable and efficient. Over the last 3.5 years, he has guided over 7,500 agents on the playbook to set more appointments and increase their earnings during CINC’s Conversion Day. John focuses on the framework agents need to deploy to create emotion with the home buyer or seller, which drives the motion (fast forward to 19:00 in the video below if you want to go straight to John's presentation).
5 W’s to Win the Game Before You Start
1.) What do you want? Importance of setting goals.
As you set up your successful real estate business, you need to understand where you are at and where you want to go. You should set goals within every business action (from your annual production to new leads generated daily). For example, before starting a dialing session, you should set the goal of scheduling two appoints vs. dialing and burning through leads with no result in mind. Creating goals allows the Reticular Activating System (RAS) to perform at a higher level. The Reticular Activating System (RAS) is a bundle of nerves at our brainstem that filters out unnecessary information so the important stuff gets through. We program our RAS to pay attention to the steps needed to hit our goals.
2.) What is your why? What is your client’s why?
Real estate is a contact sport. You need to stop hiding behind your keyboard or phone and start building relationships. It’s important you find your motivation (your why) off of meaning and not your mood. The book by Brian P. Moran, The 12 Week Year, is an excellent resource for understanding what you want and why you want it. As you explore understanding why you should go three whys deep. By asking the question multiple times, you get to the deep-rooted motivation.
3.) Where? Document your progress with a sales journal.
It’s critical to continue to review your progress and understand where you can get better. NFL players use Mondays to review the film from their Sunday game to understand their past performance. This information allows them to get better for their next competition. As real estate agents, role-playing enables you to know where you can get better. A sales journal gives you a resource to document conversations and objections you’ve overcome.
4.) WOW! Find your energy.
When you engage with others on the phone, how do you find your energy? It’s not the volume you deliver but the tonality. You may find you need to stand and walk around, or others need to be grounded to get into their peak state. The pauses and energy during a call create empathy and curiosity, resulting in a stronger relationship with the home buyer or seller. Energy is contagious, so what is your prospect going to catch? Also, you should prepare to adapt to any situation. As you speak with a prospect, you should match words and vocabulary, not their energy.
5.) Winning and creating ongoing confidence.
If you want to be a top performer, you need to practice like one. If you are interested in increasing your pay, you must increase your role play. Only 10% of agents role-play four times per week. By practicing this small segment of agents become the market leader and top producer. The CINC Community offers various webinar sessions and mastermind events to network with agents around the US and Canada.
With the right mindset, you can take the playbook and conversation starters to build authentic relationships. 78% of objections are because of the opening line used by agents. Here’s an example of a strong initial conversation for a phone call with a prospect.
- Agent: Hey, this is <Agent Name> with the home search site. I know you were looking over in <Market Area> at some HOMES. Just curious, are you looking to make a move in the next few months, or are you JUST BROWSING?
- Customer: Just Browsing
Agent (Option 1): Perfect, that is exactly what the site is for. While I have you, what’s prompting you to browse?
- Agent (Option 2): Perfect, that is exactly what the site is for. While I have you, why are you browsing?
A couple of key items to point out with this initial conversation prompt:
- Use homes when you are speaking to home buyers and houses when speaking to home sellers. By changing this word, you create emotion for the buyer but disconnect the seller from the home and remove emotion when using the house.
- Don’t reference the name of the lead in your opening line. When you use their first name, you vie them a chance to say, “No, this isn’t <First Name>” and hang up on you.
- Give prospects the option of just browsing because this will be their reply in the majority of the conversations.
3 Whys for Every What…Find the Pain or Pleasure
Human beings make a decision based on pain or pleasure. To build a stronger relationship, you need to stop being an order taker and listen to understand and not listen to respond. When asking questions, you should ask an A or B option. For example, what are you think, 3 or 4 bedrooms? When you keep it simple, the prospect will begin to give you a clearer picture of their motivation. To learn more, you should continue with phrases that get them to open up. Some examples include:
- Tell me about your current situation.
- What else?
- Why is that important to you?
- What would that mean/do for you?
Set the Appointment with Clarity or Motivation
Every conversation with a prospect should end with a follow-up appointment. The clarity or motivation close is used based on what you know about the prospect.
- Clarity Close: “I just want to make sure you have the right person, with the right strategy, for the right time, does that sound fair?”
- Motivation Close: “Let me ask you this, if we were to find you a home that fits EVERYTHING you wanted <insert wants here> and <insert motivation here>, would you consider moving sooner
While this blog post highlighted some of John’s takeaways, the full video gives you a complete picture of how to set your goals and finish 2021 with a bang!