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Real estate Sales 101: How to convert online leads

August 17, 202311 min read

“Selling is a transference of belief over a bridge of trust. Therefore you cannot sell unless you believe. And they will not buy unless they believe YOU.” - Alex Hormozi

Introduction:

In this post we're going to be going down one of the most important skills you will learn in the sales process. Something that will make your sales process 100x easier. It's not a fancy script, or building rapport, or some closing framework. It's a way to dodge objections like neo- before they even happen!

Sales for realtors

With that being said...

Obstacle vs Objection

 What is an Obstacle? In the simplest terms it's exactly what it sounds like; something in-between you and your goal.

This is something you can work around, or completely get rid of with your offer.

Eg) A common worry that a homeowner has is that after paying you a commission they would have been better off just selling it themselves!

A way around that obstacle could be a guarantee:

We guarantee that you will net your desired profit OR we will discount X amount from our commission!

We've brought up a common problem that sellers may have with using a realtor- and turned it into an attractive offer before they gave us the Objection.

An Objection: A reservation about the service you're offering. This is something that they will BRING up to you.

Now.... Generally it's better to address a problem before they happen.

That's why my PERSONAL selling model is based on having a Grand Slam Offer!

Having a Grand Slam Offer

This is the thing I was talking about in the introduction. The thing that makes selling 10x easier. If you have something so good that people would feel stupid saying NO then wouldn't that make selling basically just telling them about your great product!

We've went over this in in several articles but I'm going to quote this one: ()

"The simplest way of explaining how to create an irresistible offer is:

Leveraging what they want vs. what they don't want.

Eg) Sellers WANT to sell their house for as much as possible; as fast as possible

They DON'T want: To pay a realtor commission, don't want to experience any pain like inspection issues, negotiations, difficult buyers...etc.

So in our offer we want to promise all of the upside, and minimize any of the down sides- and then tie it all together with a Risk Reversal

Risk Reversal: A Guarantee that you will perform on the promises you made OR you'll give them respirations

Here's an example of a compelling offer: We'll sell your home for OVER listing price in UNDER 30 days. Without you having to lift a finger.

And if we don't we'll buy it ourselves!

Basically the offer we just crafted was a guaranteed WIN for our client. If we can't sell it, we'll buy it!

We maximize the win by selling OVER listing in UNDER 30 days- and we minimize the pain by saying "without lifting a finger".

And we reverse the risk with a guarantee of it being bought either way.

Get creative with this- craft your own offers:

(P.s. Offers get saturated fast so don't just rip this)"

The only sales framework you'll ever need:

Having a great offer will set you up for the optimal sales experience. The offer is what is MARKETED- but what about once you're in front of an actual prospect? What is the practical implication of a grand slam offer?

When I'm selling I like to fall back on concepts rather than "techniques". Selling your service should be about finding out if your a good fit for them- and vice versa.

So the first step in selling is to clarify why you are both there. You're there to sign them up for your offer.

From there I like to follow a simple process of asking questions to figure out their pain points, Diagnosing them with a problem, selling them my cure, and then handling objections.

Figuring out their pain points

This is easily the most important part of the process. We need to figure out how much pain their in.

And I don't actually mean physical pain; but mental stress. How bad do they NEED what you're selling.

EG.) A husband and wife are getting a divorce and need their house sold. These people NEED it gone, and need it gone fast so their pain is high. The higher the pain the easier the sale. (That's why a common RE strategy is to go after divorce lawyer referrals)

More examples of pain points could be:

Estate sales

Short sales

Back taxed property's

Tired landlords

People in debt

(Targeting these people specifically may be unethical- but for the sake of making a point I decided to make the list)

And on the more realistic side of pain points:

People who want to move states for a job

People who recently married

People who's kids moved out and want to down size.

You want to ask questions to find out WHY they agreed to take the meeting. If they say something along the lines of:

"I saw your offer and it seemed great, so I wanted more info"

You can't take that- you need the underlying issue,

A great responde (coined from Alex Hormozi) could be:

"I'm sure you don't go around all day looking for info, what's the reason you may be thinking of selling/buying a home?"

Using a script in my opinion is generally bad- but having quick stories, and rebuttals memorized to common obstacles will help you stay on track in the conversation.

When we're asking questions to find out why their wanting your service we need as much info as possible:

Eg)

You: "So why are you planning on selling?"

Prospect: "We just got a job offer 3 states over and are needing to move"

You: " That's great! when does your new job start"

Prospect: " It starts in the middle of next month"

Once we figure out their pain point we can then...

Diagnose them with a Problem

Continuing with the example above; Their problem would be they need it sold sooner rather than later.

So our next objective is to get them to agree to the problem that they have.

You: "So Mr.Johnson it looks like you're in a bind... you need your house sold as fast as possible, but i'm sure you don't want to just leave cash on the table right? You want the best price for you beautiful home!" (rapport building)

Prospect: "That's right!"

We're getting him to admit his problem. This is incredibly important... while they may know they need it sold fast we need them know that our solution is SPECIFICALLY for him- in his exact situation. People tend to buy things that solve their specific problem.

So if we pitch him on our service in the context of their specific situation... it will make them believe it's a perfect fit!

The Cure

This is where we pitch the prospect our service. They know your offer... you know their pain; now it's time to tie it together.

Prospects want to hear about themselves and their problems. You want your "cure" (aka your service) to be the answer to all their problems. The thing that will take the pain away.

If he needs his house sold fast- and your offer is for example "we'll sell your home in 45 day- OR we'll give you our commission"

Then you want to communicate how the experience will be working with you; and how great it'll be. Not go into technical aspects... like the negotiation and closing process (people don't care about that).

You want your pitch to be UNDER 3 minutes... very concise, and again through the frame of what they'll experience in their specific situation!

Pro tip: Asking for permission to sell them (or give your pitch) will increase your close rate... AND make you seem less pushy by giving them the power of choice (they'll almost always say yes).

Eg.)

You: "Great, well Mr. Johnson I think that our program will be a perfect fit for you... I'd love to tell you about it; would you like to hear?"

Prospect: " Sure, go ahead"

You: "Great, So I know that moving states to a new job can be INCREDIBLY stressful. That on top of selling a house can seem like a recipe for disaster. In our program you'll experience a hands off approach to selling your house. You'll only be involved when you want to! We take on all of the Buyer negotiations, closing coordination, staging of the property, and most importantly marketing the property. We do all of this so you guys can focus on the important stuff like your next move in life! And especially for you... your new JOB! We also of course have our SPEED guarantee to hold us accountable; and trust me we wouldn't have it if we couldn't get you guys SOLD asap! But; you may be thinking we'll just CUT price to sell the house... well good news; we don't! We don't list the house unless you're 100% happy with the list price!So, does that sound fair enough?" (this is a great closing line)

From here there's two answers- and most of the time people will agree that it is fair.

They will either be super excited and ready to sign a listing agreement... OR have some objections:

Overcoming Objections when they do happen:

Now I can't give you a list of objections, and how to handle them. But I can give you concepts to overcome them on your own.

If someone isn't ready to sign up generally it's for two main reasons:

They don't trust YOU

They aren't serious about selling

They key to overcoming an objection is finding the ROOT of the issue.

Saying things like "we'll have to think about it", or "I'll have to talk about it with my spouse" or any time delay thing. Can USUALLY be handled with asking them what they'll need to think about, or what issues their spouse might have.

Which is really just the issue THEY have!

You want to find out the REAL problem, go through with diagnosing it, and then re-pitching them in the context of the new objection

Eg.)

Prospect: "That's sounds great and all... but we'll just have to think it over"

You: "I totally understand this is a huge decision.. I wouldn't want you to make a decision without thinking about it! But the best way to make a decision is to have all of the info to make an accurate decision. What do you think might be holding you back from making that decision?"

Prospect: "Well we're a bit worried about selling too fast and missing out on money, and on TOP of paying your commission we just don't know"

You: " That totally makes sense (always make them feel heard, do not get combative)! We are flexible with your time line, we give that guarantee to let people know we're the real deal. But if you want to extend the time horizon we're more than happy to! And like we said we would never list the house cheaper than your comfortable. We can figure out what your goal is to net and build commission into the over all price, sound fair?"

You want to let their objection feel heard- never get offended or defensive in anyway. Then you want to explain away that concern with a restatement of your awesome offer!

Always be selling:

Once you've gotten the listing, you'll need to always be building rapport, and delivering a great service. Don't be the kind of agent that gives the rest of us a bad rap. You've heard the complaints about the lazy agents.... DON'T BE THAT!

Final Thoughts

Obviously this was a short guide on sales. There's thousands of books, trainings, seminars...and coaches out there. Hopefully you can use this as a guideline to close more appointments into listings, or showings. At the end of the day... sales should just be finding out if your service is right for someone. You should ALWAYS have the mindset of trying to help them. If you keep that mindset people will not only be able to tell your sincere (which will get you more clients) but it will take the negative stigma away from sales people.

If you felt like we didn't go in-depth enough, or have any questions; then feel free to book a 100% FREE consultation call below!


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