NOTES:
● Buyer demand correlates to mortgage interest rates.
● KCM can help you educate clients on the market in a simple way everyone can understand.
● Having a personal brand is a big part of being an agent. This helps you grow your business.
● Social media can have a huge impact on your business if you use it as a tool to reach more potential clients.
● Good content will educate, inspire, or entertain.
● “Stories” are a great way to get people to interact. This can spark conversation. There are sticker questions, polls, etc that get people to interact.
● A great follow up tool is to ask for someone’s social media and follow them when you meet. Down the line, when they are ready to make a move, they will still have your information in front of them.
● If you make content that is speaking on something negative going on in the market, make sure to end it in a positive way that will still give people hope.
● Keep your audience in mind, what questions would they want answers to?
● Talk to the camera like you are talking to just one person.
ACTION ITEMS :
● Make social media content.
NOTES :
● Psychological reactance - Reflex that is built into us to when people experience a loss to their free thinking or behaviors.
● People actually have a natural argument for both sides inside of their own head, no matter their opinion.
● Prospects do not believe what we say- they naturally believe that as salespeople we are suggesting things that are biased for personal benefit.
● Change talk: This is a tactic to get the client to change their point of view. People believe what they tell themselves.
● Instead of pulling the prospect towards you, gently push them away by making the argument for the status quo.
● This will cause the prospect to argue against that.
● FSBO- If you show them value, that’s when you have a chance of them coming back to you in the future to use you as their Realtor.
● Instead of pressuring them, you can get them to comply with you and make them feel like they came up with the idea to meet with an agent.
● Prospecting is attracting people to you vs. going after them.
ACTION ITEMS:
● Contact a local attorney (divorce, estate, business, ect.) and offer to do BPO’s for them so they recommend you to clients.
● Read the meeting notes.
BOOK NOTES:
● Instead of creating conflict when you don’t see eye to eye with someone, use the phrase “Help me understand”.
● This takes away the threat of an argument and gives them a chance to explain where their opinion is founded.
● This can also help someone recognize that something they thought to be fact, is in fact an opinion.
● For example: “Help me understand the benefits of selling without an agent.”
NOTES:
● There is a lot of uncertainty surrounding the banking crisis right now. It is a good idea to stay educated on how this will affect the market.
● Your focus should be on people who need to sell their house, for example divorces or bankruptcies.
● Great prospects to nurture are divorce attorneys and bankruptcy attorneys.
● Many divorce attorneys need BPOs (Broker Price Opinions) for court, so offering that as a service to them can help build a relationship with them for when they need to recommend a Real Estate Agent.
● Make sure if a client is a part of your sphere of influence, you mark them under SOI in FollowUpBoss so we can target specialized marketing materials.
● When calls or texts are assigned to you on FollowupBoss, make sure you respond back with your information because you will be calling from a different number than they called.
BOOK NOTES:
● The words “Could it be possible” give us the instant ability to make suggestions about alternative realities.
● It is a natural way to follow your “How certain are you?” question.
● Phrasing it as a question gives people the freedom to move towards your ideas without telling them that they are wrong.
● For example, “Could it be possible that working with a more experienced agent would be a more appropriate solution for your current circumstance?”
ACTION ITEMS:
● Find a local divorce attorney to prospect. Try to find someone that you may have some relation to. Offer them BPO’s
● Watch “REAL ESTATES SCRIPT” Video below.
https://www.youtube.com/watch?v=e9ZzKtJgi5Q&t=1s
NOTES:
● Interest rates have been trending upwards
● If people continue to spend, it will increase interest rates because it is feeding into inflation
● Consumer spending drives up rates
● When people say they want to wait until interest rates go lower, let them know that a lot of people will be jumping in at the same time, averaging out at the end of the day
● When the rates get above 7% you will see a weak buyer demand. Under 6%is a strong buyer demand.
● A lot of deals going on right now are deals that we have been working on for a longer period of time, 6 months +
● Focus on the “need” people, the ones that HAVE to move as opposed to those with a wishlist who do not have to move
● Things to ask/discuss with a new potential client:
● Desired location & why?
● Have you looked at homes before? Worked with other brokers?
● Timeframe?
● Spoken with a lender?
● What are you looking for in an agent?
● Contact information
● Leave off with a game plan
BOOK NOTES:
● Ask “how certain are you?” to negotiate with your client who may benefit from changing their decision.
● When asked to commit to that point of view, you may cause them to open their mind to other options that will be more beneficial.
● For example, “How certain are you that the effort in staging won’t be beneficial?”
● This will help increase your influence on your clients
ACTION ITEMS:
1. Look over our script books
NOTES:
● Add old expired homes to your prospecting list. There are a lot of agents calling recently expired listings, but not as many calling older expired listings.
● Start the day calling freshly expired listings. Being the first one to call them in the morning is valuable because some people go with the agent that they speak with first.
● While you are dialing a new prospect, pull up the MLS listing and check the history. Also, pull up zillow to see if there is any further info on the property there.
● Tonality and pitch is important for cold-calling. High pitch can be used for when you are offering them something good. Low pitch can be used otherwise.
● Stand up while you are making calls to bring better energy.
● Don’t forget to add some personality to your calls- you don’t want to sound too robotic.
● Try to match tonality and volume to the person you are speaking to.
BOOK NOTES:
1. Try to motivate buyers or sellers by having them imagine these moves.
2. Creating pictures in the minds of others is done through story-telling.
3. This can help drive people to “see themselves” in scenarios you would like to move them towards or help them stay away from.
4. For example: “Just imagine how life will be once you move into your new place.”
NOTES:
●Time blocking will significantly help your business. Put it in your calendar to stay organized. It also helps the team know what your availability is.
●Use FollowupBoss for your schedule/ calendar so you can attach appointments to contacts.
●Don’t only think of your present self- think of your future self. Work towards not only instant gratification, but delayed gratification.
●Cold calling/ outbound prospecting is not something you are always going to WANT to do, but consistency is key. Think of your future self and try to reach those goals you have set for yourself in the future.
●Keeping track and writing out all of your prospecting details creates a habit that can give instant satisfaction. When you set a goal of, for example, 20 outbound cold calls a day, writing it out or striking out the contacts as you go will give you that satisfaction.
●You can then analyze your prospecting ratio.
●FollowupBoss has the capability to track it all for you on the back end.
●Motivation comes from doing the thing you do not want to do, but doing it anyway.
●Give yourself a limited time to prospect. Block out a couple hours to prospect.
●“Some of the people, some of the time will move to be more comfortable. More of the people, more of the time, will move when they are uncomfortable.”
●People make decisions based on what feels right, first. Understand the meaning of motivation and the fact that emotions drive decisions.
●Hypothetical scenarios can help, start asking “how would you feel if…” to trigger emotions.
ACTION ITEMS:
Practice a dopamine-detox = instead of getting bored doing things to build your business, you can practice a dopamine detox (wean down on activities that give you dopamine for ex. Phone time, TV time). Do meaningful things that are not particularly “fun”, for example, working out or reading. This helps make meaningful tasks feel less boring.
● Home sales will decrease this year as well as the number of Real Estate agents. It is a professional’s market- those who are full time, producing agents will still have the opportunity to have another great year.
● It looks like mortgage rates are going to normalize around 5 / 6 %
● Real Talk by KCM (Keeping Current Matters) is a tool we use to get market updates and valuable information and easily transfer it into a post for friends and followers to see. It allows you to easily post and record content that is informational.
● We added an “Agent Resources” tab to our website that allows our agents to access our tools and subscriptions to help build their business.
● Labor market is not easing at this time. Unemployment is still high.
● Builders do not want to build a bunch of homes and sell without the commitment from the buyer beforehand.
● The best way to get through to an “I know best” mentality, is to question the knowledge of where the other opinion was founded.
Action Items:
1. Check out the agent resources tab on our website
2. Try out KCM to make an informational video
● Online marketing is just as important as offline marketing.
● Stay on top of promoting relevant information for your business- it is time sensitive.
● Update your social profiles to be consistent in “telling the same story”. Your bio and your headshot should represent who you are.
●When asked the question, “are you open minded?”, most people will say yes. It allows the defense mechanism to secure for a minute to hear what you are saying to them.
● Kindly and calmly asking questions helps lead a conversation where people can value your experience. An example can be, “What is your experience selling (or buying) a home?” This helps control the conversation with prospects.
● When someone says they will feel bad if they do not use a family member or friend as a Realtor, a good thing to say is “I decided to work with a local expert”.
● 1st person to get a direct lead through circle prospecting will receive an award.
