There are two parts to the sales strategy in real estate, first you have to win the real estate lead, by converting them into a client, then you have to close the real estate deal. If done correctly, this deal will help you gain more real estate leads through referrals, and the cycle continues. Of course, the focus on mastering the first step, which is converting your leads, will be important.
This is a strong reason as to why 90% of the industry is ran by 10% of the people, also it’s the reason why 87% of real estate agents fail in 5 years.
Just as the beginning of each blog being the hook, the goal for every prospect interaction is to reach out and intrigue them.
So, of course, I won’t jump into any blog by just providing you information, there’s a little more to success than that. Once you meet your prospective client, you won’t immediately dive in and overwhelm your potential clients with information. Learning what is relevant will be the key..
There are potential problems when you overload your real estate prospects with too much information, which includes:
- You are not targeting the correct information at them
- You are not extracting the right information from them
- You are not asking enough questions and leading them to the close
What do you do then?
How do you essentially interact with these prospects in real estate?
The first step is quite simple, it starts with:
Way # 1 Breaking the Ice
This won’t be like those first day of school ice breaker games, as every real estate prospect is different.
You are going to funnel your knowledge based off how your prospective clients personality traits are, it will allow you to ask questions specifically that satisfy your real esatet clientele.
There are going to be conditions depending upon your various prospects, since you are building rapport with them at this stage (blog), you will be working on peaking their main interests.
An example condition would be if your real estate prospect does not have children, do not start bragging about yours.
But a positive condition maybe if they have a luxurious watch, compliment them and tell them a story about your love for watches. BUT, somehow relate it back to real estate.
Never let your sale go off topic.
Your entire real estate encounter, from beginning to end, must be focused on the task on hand – which at this stage is getting those prospects into leads. The reason for this is it instigates efficiency as every topic will allow growth to situation.
It’s basic . It’s real estate’s ABC .
You know what ABC in real estate is?
ALWAYS BE CLOSING.
When building your rapport, aim to make them feel comfortable. This part is something you can not pre-plan – so look at your prospective clients and GENUINELY pay them a compliment.
Way # 2 Leverage
There will be 2 situations when you are finding real estate clients.
Clients can either come to YOU or you go to THEM.
Situation # 1: Client Comes to You
When they come to you, you have the upper hand in the situation.
How does this happen?
There are multiple ways to find real estate prospects and potentially make them into leads, the two that involve them coming to you are Open houses and Referrals .
These clients are prepared with questions to ask you, they have passed over the prospecting stage and are more interested in you. You now have to increase your trust level.
If the client comes to you, it is your time to shine and provide them the real estate value and the appropriate time.
Situation # 2: You Go to Them
These are the other prospecting methods which consist of door knocking, business parties, networking, email marketing, etc.
As a real estate agent, majority of your INITIAL leads will come from you going out and FINDING the clientele.
Now don’t get me wrong, there is no issue with buckling down and putting in the hard work. Doing the dirty work should never be a burden on yourself.
No matter how much time and effort you put in each day, you MUST be fearless. Real estate is your passion, start to love prospecting.
Turning these prospects into leads is a little different than when the clientele come to you. In situations like this, you are the one approaching them which means that they can turn you down as they please. That is why it is essential for you to start providing value during the initial encounter!
Way # 3 Direct the Conversation
So how do I provide real estate value?
In both situations you funnel down the conversation to figure out what your prospect wants. They want to hire an agent who can provide them value in the most efficient manner.
How do you do this?
You direct them into the direction of closing. Just as Alec Baldwin says “ABC= Always Be Closing”
You do not want your client to be blinded by a bonanza of information. Once you have built rapport, you will start asking them questions to pinpoint what they want. Here you will find out reasons for why they may be buying or selling. By filtering your value and presenting what they want to hear, you will be able to not only direct the conversation to where you want, but guide them to become your new lead.
Position yourself as the Go-To real estate agent for your area, they can not miss out on a chance with working with you.
Prospecting is for most agents, a stage of ‘stress’ . But, I don’t want you leaving this blog today with the idea of it being a lot of stressful work. Prospecting is an art, you are gaining reputable, trustworthy rapport with your clientele. Each sale in real estate starts with prospecting, when building a strong reputation as a market expert in your niche, you are essentially showing your clientele that you provide the value that THEY are seeking!