B-SCHOOL HIGHLIGHT: The First Steps to Mastering Buyer Lead Conversion

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Transcript:

Let’s get into buyer lead conversion. This is what I literally crushed starting my career. I was of the mindset that nobody, and I had an okay background. I had invested in some property before. I actually bought 10 investment properties here in Charlotte after selling some in NJ. Had a business background.

Getting Started

It wasn’t like I was totally clueless. I thought I had a lot to add, but I was all about just generating a buyer lead, converting it, selling them a home. Getting them face to face, getting them to sign, and selling them a home.

It was my absolute sole focus for the first 18-24 months of my career. I mastered it. I can still recite the scripts I used in the early days. If I ever got into a conversation with converting a buyer, and sometimes I’ll get on a dialer during a training with my team, and someone will answer, and I’ll have to go into script. And that’s what I’ll get into.

But the mindset is critical. So there are two parts here. It’s a pipeline. So the person you’re talking to, you’re a stranger. They think you’re a telemarketer or a salesperson. They’re not going to lay down and just transact with you off the bat.

Give it some time. But also just realize the one thing that I was crystal clear on, and I remember what this felt like, and some people think I was crazy at the time. But nobody wanted to work with me. And I just kind of got that mindset that nobody wanted a real estate agent. They just wanted a home.

Give Buyers What They Want

I put my ego aside. I didn’t do any branded marketing. But I gave buyers what they wanted. Sometimes I would have to answer some questions about neighborhoods or set them up on a special search for special properties, maybe foreclosures or short sells. Sometimes I would like for a special home, email them one listing and say, hey listen, I saw this property come up for you.

It’s really about realizing that they don’t want an agent. So you telling them that they’re great and they should come to your office and sign a buyer agent agreement is not going to be that effective. They just want a home and they just want access to listings.

You really need to put your ego aside and give buyers what they want.

Think "Gold Brick"

Always think gold brick when communicating with prospects. This fundamental rule, no matter what the internet does, and how much information the internet provides buyers, if you can make something sound enticing enough, “gold brick,” if I get on the phone with someone and say, I have a gold brick.

Literally I don’t know how much it weighs. But it’s a gold brick. When can you come to my 
office, and I’ll give you this gold brick. 

Everyone would say, if they’re in town, I’ll be right there. So you just have to offer something of value to buyers in order to get them to meet with you. So maybe it’s a market overview. It could be getting them access to properties. And that’s part of what we offer. But maybe it’s getting them set up on a weekly market report. Or a foreclosure listing that you send out or short sale listings for a specific area.

Or maybe you have south side listing update, which is a daily update. Something that’s good enough where they’re going to want to get together and meet with you. So make it easy for them to say yes. Make it clear. I can’t say it enough when I used to prospect. There’s no cost or obligation whatsoever.

Listen, I get it. I know that you’re busy. But there’s no cost to get together. There’s no obligation to do anything. A coach back in the day gave me this phrase. The information we’re going to get you set up on is proprietary and it’s priority. So you’re going to get instant access to properties when they hit the market and this list is like no other list that’s available.

So it’s proprietary information.

We’ll also get you access to off-market properties and builder close-outs. This is information that not all agents have access to.