Why did you get into real estate?
This question was the question Ron Cronin asked at a recent “Two Days with Mike Ferry” event in Dallas. The most common answer: “I heard you can make a lot of money.”
Ron’s follow-up question was, “Have you ever lost a deal because you didn’t know what to say?” A surprising 75% percent of attendees raised their hands.
If you have ever found yourself not knowing what to say, consider this:
Successful Agents Know They Must
- Know What to Say. Your scripts need to be internalized.
- Know How to Say It. Use voice inflection to create affirmation.
- Dress Professionally. People do business with professionals they trust and looking the part is rule #1.
Fortunately, you only need to learn seven scripts: Center of Influence, Past Client, For Sale by Owner, Expired, Just Listed, Just Sold and Competitive Market Analysis. This post focuses on the Center of Influence script or COI.
Center of Influence Script
Ironically, many agents miss out on building their business through their COI because they don’t want to “hassle” their friends and families with business. This is a huge mistake. If you don’t let your network know what you do – and continuously remind them – they will not keep you top of mind when the opportunity comes to buy, sell, or invest. Keep in mind that the number one objection you hear when prospecting to someone you don’t know is, “I already know a real estate agent.”
Train your Center of Influence that when you call them every quarter, (yes, you need to touch them four times a year), that this is a business call, that you’re not going to waste their time and you will bring value to this conversation.
Learn Your Scripts
The first step is to memorize the script. Write the script out by hand; learn it so those words on a piece of paper feel like one of your appendages. Effective scripts are direct and bring value to the person you are talking to. Remember you are training your COI to understand that your quarterly call is a business call – so when you do call, they will be prepared to think about whoever they know is buying, selling, or investing. Over time your COI will become accustomed to – and even appreciate – the directness of your approach.
Never Assume. Always Ask
When talking with your COI, keep these points in mind:
- Unless you tell them, your COI won’t know you want their help finding buyers, sellers and investors
- Your COI doesn’t know how to help you. You must lead them
- Your friends and families are just living their lives; it’s up to you to remind them to keep you mind when they hear of potential opportunities
Don’t Waste Their Time
Don’t just memorize the scripts; follow them so that your COI understands that this is a business call that isn’t going to take too much of their time.
- Hi this is _____. This is a business call… do you have a minute for me?
- Who do you know that would like to buy or sell real estate in the next 7-10 days?
Since this is a COI call that you perform every quarter, insert a theme or offer something of value for the call. It could also include asking for a referral or questions like:
- Do you need a CPA or tax advisor?
- Do you need any help with mitigating the tax-assessed value of your home?
- Are you interested in a short market update? Here’s what’s happening in your specific neighborhood.
- What are your plans for buying, selling, or investing in real estate?
- Can you think of anyone in your (church group, family, neighborhood or office) that may need my services at this time? If they offer a referral, ask “would you mind if I give them a call?
- By the way, do you have any plans to move?
How Can ArchAgent Help?
ArchAgent can help make this process easier on an ongoing basis if you upload your COI database into the ArchAgent PowerDialer. We can then regularly update your records by finding the most current cell phone, email, and social media links for your database. Your notes are kept in the history or pushed to several third-party CRM platforms. For more information, please visit https://archagent.com/powerdialer/.