Tom Ferry Reading Blog

Your Real Estate Questions, ANSWERED! – #TomFerryShow

Tweet it Out: Very helpful answers to agent questions, @TomFerry! Thanks for another great #TomFerryShow!

In this #TomFerryShow, I tackle seven questions agents submitted via social media, covering everything from marketing on a budget, to how to deal with a growing client base, to the best books to read right now.

Watch the whole episode to get the full experience, but here on the blog I’m going to highlight three of the most important questions.

Let’s go!

Question:
Most people don’t answer their phones. Have you found an effective message to leave?

“Hi, it’s [YOUR NAME] with [YOUR COMPANY]. I’ve got some great news about your home’s value. If you’d like to know more, call, text or email…”

This is a simple script that can be extremely effective. It piques the homeowner’s interest and leaves their next step up to them.

If they’ve possibly been thinking of selling or even considering how much their home is worth, your voicemail gives them the perfect opportunity to take that next step.

 

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Question:
I’m busy, but not able to commit the same amount of time to converting leads as in a slower market. As a result, my conversion rate is suffering. I don’t have time to accommodate all of my buyer clients. I feel stuck. I try to maximize my time, but if I don’t tend to these people, they might not be there in a few months when they are truly ready to buy. Any suggestions?

It’s an age-old dilemma of real estate:

You can’t be on an appointment AND responding to leads coming in at the same time.

The important thing to realize here is that we all have the same 24/7/365 to work with. You’re right that you need to be nurturing those buyers so you don’t lose them.

So you basically have two choices:

Leverage or lose money.

I know you don’t want to lose money, so let me give you a couple options using leverage.

One way is through technology. Boomtown, for instance, can measure how active a potential buyer is and will alert you when it’s crucial that you make contact.

Another method is to grow your team, either by bringing on a lead nurturer or a junior agent with whom you can share your leads and negotiate a portion of the commission.

The key here is taking a step back and identifying your highest and best use of your time (HBUT).

Chances are your HBUT is working face-to-face with serious buyers and sellers, negotiating their sale and moving it toward closing. So then that becomes your priority, and you try to delegate other tasks elsewhere.

If you bring on a lead nurturer, find someone with great phone skills who can become a natural extension of yourself. They would call your leads following a script along these lines:

“Hi this is [Name] calling from [Your Name]’s office. We noticed you were on our website looking at 1234 Banana Street. Would you like to schedule a showing to see that house, or are there other properties you’re interested in?”

The reason teams exist is because at a certain point, it’s impossible to do everything yourself. Even if you don’t have a team at this point, it might be time to bring someone on board, even if it’s part-time hourly help to make those phone calls.

 

Question:
How do you gain consistency?

The best way to gain consistency is to peel away and eliminate all the things that distract you. Then, create a lot of accountability around your schedule and your behaviors until it becomes who you are.

To help you streamline your actions and eliminate unneeded tasks, ask yourself these four questions:

  1. What do I need to be doing more of?
  2. What do I need to be doing less of?
  3. What do I need to start doing?
  4. What do I need to stop doing?

Sit down with your broker, your coach or a mentor and talk through these questions. When it comes to the things you need to stop doing or do less of, be very honest with yourself because those are the true killers of achieving consistency in your business.

 

Did any of these answers resonate with you? Let me know your thoughts in the comments.


 

 

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