Communication

3 EASY Ways to Improve your Cold-Calling Script – Live Cold Call Role Play Breakdown and Critique

Success With Cold-Calling Probate Leads Requires Turning Your Script into a Conversational Framework That Moves WITH A Prospective Client’s Needs.

If you’re a regular on our Mastermind Calls or follow our Vlog content, you’ve probably heard it dozens of times – It takes some adjustment to jump on the phone and call probate leads when you’ve built up hard-sell habits from years of calling FSBOs and Expired leads.  With Probate, you’re dealing with someone who might have a lot more on their plate, who likely could use your help much more than a traditional home-seller, but has no idea right now what their roadmap looks like.

When Donna jumped on our 44th Role Play call last week (which you can catch in full here in our Role Play archive ), she bravely jumped in the hot seat with Chad.  Though she has years of experience in real estate, she is new to calling probate leads and wanted to go over her script. Below, we re-cap the live role play, break it down, and offer valuable critique, so read on!

Prefer to Watch? Jump straight to the Video Clip

Chad Gave Donna Some Straight-To-The-Point Critique on her Cold-Calling Script.

Donna opened her call with the same structure so many other agents use:

“My name is ______ and I’m an agent with _______. Is there any real estate?”

Does this sound like you or someone on your team?

After Donna’s first few statements, Chad said “Let’s break here.”  Then he gave her some critical advice anyone making cold-calls should use to improve their cold-calling introduction fast.

Use these 3 Tips Next Time You Cold-Call Leads (Even leads that aren’t probate leads) and Your Conversations Will Go Much Further.

  1. Be Donna. Be Jim. Be Jessica. Don’t title yourself as a Realtor/Investor/Wholesaler.

    On one hand, and especially if you’re working in a competitive market, your prospective clients are being contacted by other realtors and investors, and have probably built up a wall from hearing the same thing over and over.  Throwing your title out there so soon allows this wall to go right up and it’s hard to get over.

    On the other hand, you aren’t just a Realtor, an investor, etc… Are you?  You have skill sets, specialties, hobbies, things you’re naturally good at – You have value and solutions you can provide beyond a one-word title. Do not pigeonhole yourself.  You don’t even know what a client’s specific needs are when you are making your introduction, and they might assume by your title alone you won’t be able to help them at this point in time.

    Bonus: Check out David Pannell and Chad Corbett’s discussion on the Good Cop/Bad Cop approach for winning every listing appointment as a realtor/investor pair:

  2. Don’t offer condolences to someone you did not know.

    This can be a trigger for a lot of people who may still be hurting emotionally.  Oftentimes, sympathizing with someone -especially someone who has no idea who you are- seems not just inauthentic, but also like it’s coming from a place of pity.

    Sympathy is also different from empathy – Empathy involves an understanding of the situation someone is dealing with, and conveying that understanding will go a long way in positioning yourself as the person who can offer a relevant and compassionate solution.

    I want to emphasize that this approach is something that can make you much more successful in any niche.  In my years working as a real estate ISA, I think of the countless times an empathetic approach (i.e. listening) got me through the typical expired and FSBO objections that a bullish approach would not have.  Maybe you reach an expired lead whose motivation was not just to sell and buy another house, but had added pressure from notice of default and pre-foreclosure.

    Do you have a plan for where you are going next?

    Has anyone given you a framework for what your options are if you need to sell fast vs. if you have time to get the most equity back in your pocket, and what those numbers might look like for you?

    In a way, you’re still asking for the client’s business with questions like these, but unlike the dozens of other agents and investors who might be reaching out, you’re asking for this business as part of a two-way dialogue.  You will also have much more knowledge on the situation, which means can better prepare your roadmap for the steps and processes necessary to reach the desired result.

    I used to get off these calls feeling like I was really making a difference for so many people!  Feeling like a human and not a telemarketer also had the added benefit of keeping my motivation to keep dialing high.  Selling with empathy has obvious extrinsic benefits like increased conversion and stellar testimonials, but it also brings invaluable intrinsic benefits that make this work much more rewarding.

  3. Don’t go straight for the jugular on Real Estate.

    Above, I mentioned how you as the caller don’t even know the seller’s specific situation when you are first making your introduction.

    The truth is, it’s extremely common for personal representatives and the related family members who might be answering your calls to not fully understand the situation they’re in, either.   When you lead into a conversation by asking a question they don’t even have an answer to, they won’t have anything valuable to offer you in response.

    Get creative and use discovery questions to lead into the real estate conversation, instead of leading with it.

Chad and Jim go on to share some anecdotes of how they’ve evolved their approach over the years to change these three habits.  Watch the role play and breakdown in full below:

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Vlog: How to BUILD MOTIVATION behind Cash Offers and As-Is Prices by Pairing Real Estate Math and Empathy

The BEST Real Estate Cold-Calling Script for Probate Leads – Tips From the Trainer

 

 

Tips for Writing Effective Yellow Letters

The more technologically-advanced the world gets, the more some of us are tempted to abandon methods of communication that seem quaint and out-dated. Well, a yellow letter is a method of communicating with sellers that seems quaint on the surface but can be effective when it is crafted in the correct manner. In other words, communicating with potential sellers is never going to be out-dated. And communication – both written and oral – is a large part of what we as real estate professions do.

What Are Yellow Letters?

Yellow letters are a form of direct mail marketing utilizing yellow, lined paper in order to look more personal. As such, some of the rules governing how to effectively use other kinds of direct mail apply to yellow letters as well. Some of them do. Yellow letters can be very effective when you create them in such a manner as to stand out from the tons of other mail your prospects receive on a daily basis. Here’s a quick primer on how to add color to your real estate marketing efforts using yellow letters.

  • Know your audience: You must know something about the people you are trying to reach in order to tailor your pitch to fit their needs. Otherwise you will be taking shots in the dark and blowing your advertising budget. Do your research first.
  • Carefully draft your letter: Make a draft before composing your letter and watch things such as length and word usage. Be sure to add as much detail as you can so that interested consumers can reach you if they want.
  • Tell them what you want them to do: Never assume readers know what it is that you want them to do. Make your call to action clear and succinct.
  • Create the actual letters: After you have created a framework for your letter it will then be time to write them. If you are not confident in your writing abilities, you can hire others to do this.
  • Track your data: Just as with any advertising campaign you will need to be able to track your results so that you will have actionable data when you need it.writing

Although there are expenses involved in creating, tracking and utilizing the data gathered by yellow letters, they should still be an essential part of your overall marketing strategy. Another part of your marketing strategy that you should utilize is our probate real estate leads. These – and the education our archival phone conferences can bring you – can help give you the edge over the competition. Real estate lead generation websites are also a tool that the successful professional can use to grow his/her business.

Mailing Mistake May Miss Million$

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It’s always great when I can share a tip from a subscriber … especially when that subscriber is one of our oldest and most successful. I had the pleasure of learning this info yesterday in just such a conversation. I was speaking with this subscriber about a technical question he’d called me about. After answering his technical question, he mentioned that he was really excited to be back on track after changing brokers in the middle of last year. Based on a previous conversation, I knew that he’d been the new office’s agent of the month several times already and had enjoyed a couple of million dollar months, so I was curious about what “back on track” meant. His answer was enlightening.

He said that he’d been sending his letters out faithfully, but that he’d noticed they’d not been generating the same results as before. Initially he was concerned that maybe his new broker might have a less favorable reputation than his previous one, but that was before he noticed that several of the other agents in his office were offering homes with “estate sales” and the LIGHT BULB WENT OFF for him. When he’d changed brokers, he’d started adding the new office’s phone number to his mailings as well as his direct line. Then, he looked to see who the sellers were on the properties his officemates had listed and indeed, they were ones he’d mailed to.

Initially, he was concerned that he might have been been poached. However, he was pretty comfortable that was not the problem. Then he listened to the receptionist take a few calls and realized that if someone called the office and asked for probate and didn’t ask for him specifically, it went to whoever was available. He immediately stopped listing the office number on his letters and now, in the last 30 days, he’d taken one new listing already and had three more immediate listing appointments. I’d say he was definitely back on track!

However, be aware that when YOU are paying for your marketing, you must make sure YOU are reaping ALL THE BENEFITS the benefits. In your letters, whether we do them for you via Mailbox Motivator or you’re still doing them yourself, be sure you are driving the traffic to you, not feeding the rest of your office. List ONLY your phone number and it’s also one of the reasons we recommend using one of the special probate-focused websites we provide.  Control your lead flow and make sure your lead flow funnel points directly and ONLY INTO YOUR BANK ACCOUNT.

Are you a matchmaker or a wedding planner?

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I saw this great picture posted on a friend’s Facebook page and I thought it was worth sharing and discussing a bit. All too often, we get all tied up in the mechanics of the work we do every day.  That can make us lose sight of the fact that the people we are dealing with every day are making one of the biggest decisions they’ll ever make. That means they are under unusual stress and many people are unaccustomed to dealing with stress.  If we always keep in mind that being extremely patient and truly continuing to probe with easy questions as to what a client does and doesn’t like about anything you show them, you’ll become a far better “matchmaker” and get the opportunity to be a “wedding planner” faster and more frequently.  You can often learn as much from showing a house that a client hates as you can from showing them one they love.