This Mastermind session focuses on several best practices designed to help real estate professionals make the most of the potential opportunities that come with pre-set FSBO and Expired lead appointments.
Prejudging the Opportunity
First and foremost, don’t prejudge the appointment before you walk in the door. While it’s tempting to immediately classify a potential lead by area or address, you never know what this particular opportunity might offer and what additional opportunities might spring from just one appointment.
You may not get this listing, but just by meeting with a potential client, you establish a professional relationship that could lead to multiple sales in the future. One expert says prejudging is the, “Best way to shoot yourself in the foot and miss out. Every relationship is an opportunity.”
Don’t Call in Advance
If you call you give them an opportunity to cancel. People tend to be nicer in person, so when you show up at their door, homeowners will be more polite and accepting. “It’s almost like a blind date,” says one listing professional, “If you call first they’ll have second thoughts.
Walk in the door with a positive mindset while managing your own expectations. Remember, you are the local expert. You should be ready, willing and able to help this home owner achieve their own goals. Remember, the appointment should always be about the home seller.
Remember to always be professional. Pay attention to basics. The way you dress and look is important. Drive up in a clean and well maintained car. Top professionals emphasize the importance of first impressions, being well organized and greeting prospective clients appropriately using the “right” hand shake and smile.
Adding Value to the Appointment
Your knowledge and experience will help home sellers get the most for their property. You are not there just to collect commissions. The most experienced agents know of many avenues to help bring sellers more money from a sales transaction more quickly and with less hassle.
You’ll catch homeowners before they spend money, time and effort unnecessarily in fix-up and/or remodeling without understanding if they can get the money back when they sell. As one agent put it, you’re “Not here to get another job but to add value, to be a gift to the homeowner.”
The same holds true for a phone consultation. If your first contact is a phone appointment, keep it light, advise the sellers that you have many ways to help and you’ll need to see the home in order to make recommendations. Keep them from feeling pressured. Again, show how you can add value!
Setting Expectations and Overcoming Objections
Always ask if there are any more questions and be prepared to answer the questions that come up. A home seller’s biggest concern is often commissions. With the knowledge and experience top real estate agents bring to a transaction, why would they discount such a valuable service?
One professional asks, “Would you ask the salesman on a car lot to sell you a car for 50 percent of the asking price?” Better yet, would you expect a top physician to reduce the price of a complex surgical procedure by 40 or 50 percent? In fact you’d probably avoid any doctor that offered such a discount!
Success Is in the Follow-up!
So, you found out the home owners’ real concerns and you built value by showing them the many ways you have of helping them sell their home and move forward with their plans, but you didn’t get the listing right then and there. This will happen as often as not but if you don’t have a turn-key follow-up system, you’re bound to miss out when the homeowner is ready to sell.
Experts recommend a combination of notes and mailers, emails and phone calls. You should keep your name and face out there for six to seven weeks following the original appointment. Past that point, add them to your monthly neighborhood newsletter list. If you stay on it, you’ll be the one they list with!
Use your CRM for automated reminders and use your drive time to make phone calls. There are a number of companies that provide drip campaigns and automatic follow-up including, Top Producer, Boom Town, Lion Desk and Follow-up Boss.
Follow up on new business, but continue to dig back into past client lists and databases for new referrals. It’s important to remember that 80% of home sellers are working with an agent they don’t know or haven’t worked with before.
Practice makes perfect
Agent that follow these 5 practices usually convert FSBO and Expired lead pre-set appointments at least 95% of the time. Reflect on whether you are doing these steps and make it a goal to improve your process. Do you use these practices? Let us know what else you do that helps with conversion.