The chapters are:
1. How to use this manual
Don’t skip this bit. I share a heap of gold and some secret ’treasures’ passed on by legends.
2. 11 Gold medal telephone prospecting scripts most agents don’t use.
By the way… Cold calling is challenging, but get it right and it’s an amazing way to build your pipeline
3. Just Listed Scripts. A very effective way to quickly connect with warm and cold contacts
4. Warm Call Scripts. This is all about building ‘rusted-on’ clients for life to help you build your new business pipeline
5. Hot Potential Seller Scripts. Identify every seller who is likely to
press the button in the next 12 months and use these awesome scripts to convert them to listings
6. Listing Presentation Scripts. I explain why this is so important and give you some killer scripts to help you win more listings
7. Open Home Scripts. Identify potential sellers without scaring
them off. Identify genuine buyers with three quick but very effective questions
8. Open Home follow-up Scripts. Probably one of the most
important prospecting actions you can undertake but few agents do it and even fewer do it right
9. Price Reduction Scripts. You fought so hard to win that listing
only to lose it to another agent because you couldn't sell it. Here are the scripts to make sure that never happens again
10. Buyer Negotiating Scripts. Well of course every buyer wants to
steal the property and get an amazing deal. But when you use these scripts they’ll see you in a whole new light and you’ll also win a new client for life
11. Seller Negotiating Scripts. If we can’t get a property ‘sale-ready’
(and I’m talking about the price) and get an offer through, we’ve got nothing.
12. Just Sold Scripts. Top agents tell me Just Sold Prospecting is
some of their most productive. I’m going to share my best Just Sold scripts to help you win big
1. How to use this manual
The best scripts are more than words and sentences.
Inflection in your voice, cadence, speed, pauses and even your body language all play critical roles and will dramatically influence your success.
Think of a great movie line like Dirty Harry’s “Go ahead... make my day” or Back To The Future’s Dr. Emmett Brown played by Christopher Lloyd with those wild and crazy eyes saying “Roads? Where we’re going, we don’t need roads!”
In fact, the success of almost any movie you can think of comes down to the quality of the script.
A good script can even save a bad plot and every actor will make a yes or no decision to get involved in a project based on the quality of the movie’s script.
I recently listened to Bryan Cranston’s excellent audio book titled ‘A Life In Parts’ and he talks about writing and the actor’s delivery with a surprising candidness I have never heard before.
In his role as Walter White in the smash hit Breaking Bad, he sometimes argued with the writers to change lines because he felt their ideas were different to something Walter would say.
It’s definitely worth a listen. My daughter Tori and I took Bryan’s audio book with us on a cross Canada trip from Toronto to Vancouver. More than three days and 4000 kms which is a gruelling experience anyway you look at it, but listening to his adventures made the time fly by.
Good writing with good delivery is everything.
Why am I telling you this?
I want to make a point and hit home the fact that every minute you can spend learning and practicing these scripts will reward you handsomely with years of
top results.
Which is why the scripts I’m about to share are directly related to helping you win extra results.
So what’s a result?
A listing, a price reduction, an offer or a sale.
What’s the best script to win that listing appointment?
What’s the best script to secure that all-important price reduction? What’s the best script to have a buyer increase an offer?
And what’s the best script to have your seller accept an offer you know is right for them when they point blank refuse. Clue, there’s more than one as you’ll soon discover.
The acting analogies I’m sharing are not by accident.
I believe top agents act in a scene in their own way every day.
Body language, including their gait and facial expressions are an essential part of their overall communication in fact most agents don't even realize they're doing it.
The scripts I’m sharing are lines of dialogue that you’ll deliver in your own way. You can’t facsimile my delivery just as I can’t copy yours.
The lines and ideas I’ll give you are the raw materials you’ll develop in your own way to help you achieve the results you’re looking for.
Some are my own and some are learned from top agents I’ve met, worked with or interviewed.
In a thirty year real estate career, my swipe file of killer scripts is bulging with some of the best lines you’ll ever hear, and now I’m passing them on to you so you can put them to work and get more of the results you’re looking for.
I’m probably going off topic a little bit but I want to pass on something else that can help in almost any situation.
I call it Mirroring and it simply means that you will often enhance your chance of success by slightly reflecting the spoken communication of the person or people you’re with.
By the way, this is a very successful Police interviewing technique because it
works!
If you’re with someone older who might be speaking slowly, you speak slowly too. Speak at their pace. Mirror their style.
If you’re with a younger professional who is blasting out sentences at break neck speed, then you’ll want to pick things up a bit to simply reflect the fact you’re on their level. Remember, you’re an actor auditioning for the role.
It’s my observation that most agents give up after one attempt at anything. Let’s say you need a price reduction.
You make a time to sit down with your seller to help them understand why their current price is doing them damage, but they simply won't listen.
They might say something like “No. The price is the price and that’s that. If you can’t help us get our price, there are plenty of agents that can.”
Most agents leave with their tale between their legs petrified they’re about to lose the listing.
Top agents have an arsenal of proven and powerful scripts to help them help their sellers understand that the agent is not the problem.
I’m not saying this is easy because if it was, everyone would be doing it. And let’s not forget, you’ve been charged with the responsibility to help your client the seller get a result.
That will often mean a contract price well below their
expectations. It might even mean a contract price well below yours.
I’m here to tell you that good scripts, well delivered will help you achieve the result more often than not.
I’m not talking about being salesy and foot-in-the-door belligerent. Nobody likes that guy.
I’m talking about using the very best tools to help you help your clients get where they want to go.
Build a case like a lawyer.
I love a good TV courtroom drama. A skilled lawyer makes a case before a jury to pull off an unlikely victory. But more often than not, there are multiple arguments presented.
Instead of relying on just one or two points, the lawyer presents multiple reasons to support their clients position.
It needs to be the same with us in real estate.
Build your case, just like a good lawyer does. Present a logical argument and provide evidence.
So what evidence would a top agent use?
Let’s say you need a price reduction after 4 weeks on the market with very few buyer appointments or viewings.
Part of your evidence might be the fact that the property has had more than 1000 unique visits on the major real estate websites. That’s a powerful story so why wouldn't you share it with your client?
You’ll find some of your best scripts utilize the power of questions. Does that sound okay to you?
Dream big and take names,
Ray Wood
Host & Presenter TopAgentsPlaybook.com
PS: Every week I speak with agents in my private client group. It’s the favourite part of my day because I’m almost always left inspired by the sheer courage, skill and massive results I get to witness. I know real estate is not for everyone but those that get it right do very, very well.
Who am I and what the heck am I doing tell you what to do?
• For the last 15 years, I’ve been working with some of real estate’s biggest performers. These are the men and women making $100,000 or $200,000 each and every month. I call them Super Agents.
As a 4th generation real estate agent I have lived and breathed real estate all my life. In fact, I have never had ANY other career than real estate.
In a 30 year career I have sold real estate at the elite level, owned my own highly successful agency which has given me more joy and reward than I could have possibly imagined.
I’m a creative and innovative real estate marketer. My book (How To Sell Your Home For More) has sold more than 300,000 copies.
As CEO of real estate marketing group Bestagents, I’m continually learning from our members in Australia, New Zealand, Canada and the USA and love sharing the cool ideas that come from our rapidly growing membership base.
I’m host and presenter at Top Agents Playbook where I secure interviews with the very best agents and try and ask the questions that will let us discover the reasons behind their success.
I’m a founding partner at LockedOn.com (an awesome real estate CRM) and also a founding partner at Jigglar.com which is offers a range of free online marketing designs and templates for real estate professionals.
I have worked and collaborated with some of the best real estate minds on the planet and I see my prime purpose in life is to share my best ideas with others.
2. 11 Gold medal telephone scripts
Prospecting scripts most real estate agents don't use.
Cold calling is challenging, but get it right and it’s an amazing way to build your pipeline
I love doing 1 on 1 coaching calls with my agent clients.
I have a finely tuned technique where we quickly drill down and get to the REAL issues.
Mostly I’m interested in what I call the ‘low hanging fruit’.
These are the things sitting right in front of your nose that need action that make you money.
In many cases, the ripest, juiciest, sweetest low hanging fruit comes from getting on the phone and really connecting with contacts.
But this is where so many agents hit the wall. I call it MCR or Massive Call Reluctance and please believe me when I say it‘s a career killer.
I believe the main reason most agents don’t get on the phone is because they don’t really know what to say. Uncertainty creates fear and fear creates inertia or inaction. In other words, nothing happens!
In fact, it is estimated that less than 10% of agents maintain quality phone contact with someone on their contact list past 6 months after first meeting.
I’m guessing they’re the same 10% making 90% of the income in real estate. The answer is always “no” until you ask.
If you want to win more listings and make more sales, then doing this one thing (getting on the phone) will give you the very best opportunity to double your income in the year ahead!
Getting on the phone also sends a clear and very important message to your contacts that you’re not afraid to make a call and take action. People respect that. It implies motivation and a pro-active professional approach.
If you’re sitting back waiting for your contacts to call you, I’m sorry but you’re dreaming.
The #1 rule in business is, if you don’t ask, you don’t get and I can assure you your competition is probably on the phone building relationships and engaging your contacts as well.
Why would you take the chance to not connect with someone who might be just waiting for your call?
I can tell you that real estate’s top performers are on the phone every day and making a minimum 100 calls a week.
But these are NOT cold calls. This is income boosting, quality communication to
known and established contacts.
They may be buyers, sellers or just professional contacts who refer you leads from time to time but either way, EVERYONE on your contact list needs a regular engaging phone call. It’s like watering your garden. If you don’t, your plants will die.
If you want to get more listings starting today, you need to muster the courage and discipline to get on the phone and make this happen.
And keep in mind the REAL purpose of your call: You’re looking to engage your contacts and leave them better than they were before you called.
So think about what you can offer to help them? How can you enrich their lives? What can you create or produce that positions YOU as the agent with the answers? (this is the key to your telephone marketing)
So here are some ideas, thoughts, strategies, suggestions and scripts I’ve used very successfully myself for many years and also some I’ve ‘borrowed’ from some of the best agents I know.
I’m also a fan of the indirect approach from time to time. It’s less threatening and much easier to deliver. I’ve included it in my scripts below as an option for you.
The 5 Rules of Telephone Prospecting:
1. The important thing is to just do it. By picking up the phone and making that call, you’ve entered the word of the elite agent. Congratulations!
2. The ONLY way you’re going to get better is to actually practice for real. You’ll soon get into a rhythm and settle into a way that works best for you. You’ll develop your own style and build from there.
3. Worried about upsetting or annoying your contact? Well let me tell you, not calling them will upset them even more. On the rare occasion a contact is upset, simply apologize and offer to delete them from your contact list. This is going to happen. Face it. Suck it up and move on.
4. Always call with news and be ready to offer something. Most agents can’t think of anything to offer which is why they don’t call and also why they struggle to get listings and sales.
5. And finally, (and this is vital) you need to call with great positive energy in your voice. People pick up on this and it will definitely influence their reaction and response.
Okay, here are the 11 best scripts I’ve ever used!
Note how each one uses a specific purpose for the call. Feel free to copy and adapt to your personal style.
Script 1. The Reach Out call
“Hi Jane, it’s (your name) here from ABC realty. It’s a while since we’ve spoken and I just wanted to update my details and get things in order. Are you still looking to buy or sell?”
(By the way, this is a great script to use to reconnect or reach out to a contact you haven’t been in touch with for a while)
Script 2. The Market Update Report call
“Hi Jane, it’s (your name) here from ABC realty. We’re just putting this quarter’s Market Update Reports together. It’s a quick summary as to where values in your area are heading. Would you like me to put you on the list to receive one? Contact: Yes that would be great.
You: Okay awesome. Can I just confirm your contact information?
(The Market Update Reports are a really useful contact maker and a great way to capture more valuable info)
Script 3. The Open House call.
“Hi Jane, it’s (your name) here from ABC realty. I just wanted to give you a quick courtesy call and let you know we’re having an open house at 123 Smith Street this Saturday.”
Script 4. The Just Listed call
“Hi Jane, it’s (your name) here from ABC realty. I just wanted to touch base and let you know about a property we’ve got coming up for sale. Are you still looking to buy?
Script 5. The Just Sold call to sellers
“Hi Jane, it’s (your name) here from ABC realty. I just wanted to touch base and let you know about a property we’ve just sold. Are you still looking to sell?
Script 6. The Event call
“Hi Jane, it’s (your name) here from ABC realty. I just wanted to give you a courtesy call and let you know we’re helping out with a special fundraiser for our local school next weekend at (give details)
Script 7. Anniversary calls
“Hi Jane, it’s (your name) here from ABC realty. I notice your (X) year anniversary since you bought your home is coming up. This is a just a courtesy call to say hi and let you know we’re here to help if you need anything.
Script 8. Deadline calls to sellers
“Hi Jane, it’s (your name) here from ABC realty. I know you were looking to sell sometime soon and I just wanted to let you know we’re getting our clients that want to sell by Christmas (or winter or summer or whatever) set up with a great marketing program.
Script 9. Special Offer calls
“Hi Jane, it’s (your name) here from ABC realty. We’ve just set up a special deal with (name) from XYZ home staging. The difference they’re making to homes coming onto the market is amazing. If you’re looking at selling anytime in the next 12 months, I could set you up with an appointment.
Script 10. Special Deal calls
“Hi Jane, it’s (your name) here from ABC realty. I just wanted to let you know about our special Internet marketing package deal (or some other great sounding marketing deal) we’ve got coming up in (next month)
Script 11. Offer access to your list
“Hi Jane, it’s (your name) here from ABC realty. Just a quick call to let you know about my list of tradesmen/contractors/suppliers (call it what you like). It’s a list of my very best professional contacts and my clients love it and I realized you don’t have a copy. Can I email it to you?
So what’s stopping you?
My mission with giving you this list of proven scripts is to remove any excuses and help you get started on what is probably the most lucrative action you can complete in in your working day, week, month and year.
Can you see how these scripts and ideas give a reason for the call and something to ‘anchor’ the call to? There is also a great call-to-action with each script encouraging your contact to take action.
The reality is we never know where our next great referral is coming from so connecting with everyone on your list on a regular basis is the best way to optimize your chances for success.
Keep in mind, it’s just the pure power of numbers and action working in your favour.
3. Just Listed Scripts
Just Listed and Just Sold prospecting (where you are the listing or selling agent) is high yielding because you’re coming from a place of clear authority.
In other words, a seller has chosen YOU to provide the real estate solution they’re looking for. The subliminal thinking or opinion of most neighbours looking to do the same is simply, “if it was good enough for that seller, it’s good enough for me.”
But you can also prospect solidly around your competitor’s listings and sales because there’s a pretty good chance they won't have bothered.
If you’re new to real estate, this is a great way to make new contacts and fill your new listing pipeline.
If you have a phone number you can call, but targeted door knocking is way more productive in my opinion.
When you show up in person, your energy is obviously more powerful. When you knock on the door, make sure you stand well back so as not to threaten or intimidate. And best results happen when you wear your name badge on your shirt or lapel.
The beauty of this type of prospecting is that you’re arriving WITH information that’s more than likely going to be of interest to any potential seller in the area.
In a just sold scenario, you’ll notice that I intentionally leave out any mention of the sale price because I’m looking to engage them and see if they’re interested to learn more.
Your attitude should be confident and business like. You are a person of results and action. You have valuable information that will interest owners in the area. Here are some scripts I’ve invented or ‘borrowed’ over time just for this.
Just Listed
“hello I’m Ray from ABC real estate, I just wanted to give you the heads up that a home has been listed for sale nearby”
Their response will determine whether they are interested to learn more or not.
“Hi, I’m Ray from ABC real estate, we’re just letting property owners in the area know that a home has been listed for sale nearby. Would you like me to keep you posted with the sale status?”
“Ray from ABC real estate, we just listed a home for sale nearby and as a courtesy, our owners have asked us to make sure their neighbours are the first to find out.”
So these scripts are starters designed to break the ice and get the conversation going.
Can you see how offering information and establishing your credibility, as an active agent is central to the process?
4. Warm Call Scripts
These are the important ‘connection’ calls you need to be making daily to your ever-growing list of warm contacts.
In fact, I’m suggesting these are the most important actions you can be completing on a daily basis and totally consistent with something every top agent does.
What you say, will very much depend on your personality and I’d encourage you to get started and just go with the flow and see how it goes. Don’t procrastinate... just get started.
But in my opinion, you can’t just call up someone and shoot the breeze. You’ll quickly burn your contact because you’re wasting their time.
Keep it short, relevant and informative.
You need a theme. What’s happening at the moment?
Are interest rates going up or down?
Is buyer demand increasing or decreasing?
Are you coming into a high or low selling season?
Is a community event happening in the area?
Is there an important zoning change coming their way?
Has there been a recent sale in the area?
Have you just listed something in the area?
Do you have some new contractors or tradespeople on your professional contact? How can you add value?
What do you have your competitors don’t?
“Hi John, Ray Wood calling, just noticed something that I thought might be of interest... There’s a very nice property coming up for sale very close to you that will probably generate a lot of buyer inquiry. If you’re thinking of going on the market, now could be an excellent opportunity for maximum exposure.”
5. Hot Potential Seller Scripts.
Identify every seller who is likely to press the button in the next 12 months and use these awesome scripts to convert them to listings.
If they are serious sellers, then ask serious questions and if you have genuine reasons for concern because of a potential shift in market forces, you have an obligation to pass that info on to your client.
Again, you need to display action. You need to show you have the solution and the plan to execute.
Help your seller understand the very best way to get the result they’re looking for. But more than anything else, there needs to be a REASON for them to take action.
“Hi John, Ray Wood calling, I’m just reaching out to my sellers who are looking to get a result in the next 6 months. (response)
Yes, I’m concerned that an interest rate rise in the New Year will lessen buyer demand. Right now the market is still strong and there is good competition. Have you thought about getting to market sooner rather than later.”
Or what about this?
“Hi John, Ray Wood calling, I was just thinking about you and wondered when you’re going to start getting ready for sale. (response) Well I have a few ideas that will help you add value and I’d be happy to show you what I mean at your convenience”
Or just...
“Hi John, Ray Wood calling. I’m starting to speak with my sellers looking to get on the market anytime in the next six months. I find solid preparation is everything and really beneficial to the end result. Do you want me to include you in the program?”
IMPORTANT- If you have identified a hot seller and you’re not 100% sure they will choose YOU as their agent, you need to jump that hurdle ASAP and find out.
I’m so sick of hearing horror stories form agents that helped a potential seller in so many ways, only to discover they listed with a competitor.
So how do you find out?
Ask the bloody question!
So during a regular call you’ll say something like...
“I just want to level with you John and find out where I stand. Are you happy to appoint me and my team when the time comes to sell?”
... and here’s the thing:
If you don’t ask this question, your potential selling client will probably wonder if you have the courage to ask a buyer for an offer.
So either your potential client will say yes, no or waver. Anything less than a clear “yes” means you obviously have more work to do but at least you know where you stand.
Where the seller says anything less than a clear yes, I would say: “okay, fair enough what do I need to do win your business?”
If you don’t have the courage to find the answer to this question, you’re going to struggle in real estate and probably should consider another line of work... just saying.
6. Listing Presentation Scripts.
Here are 5 Proven Listing Presentation Closing Scripts and Powerful Fee Defense Ideas
The cost of losing a listing is easily underestimated by most agents. Here’s how I see it:
Let’s say your average fee is $10,000
The actual cost of losing a listing is four times the fee you would have received. Cost 1. You don’t get $10,000
Cost 2. You’ve just made a donation of $10,000 to your competitor’s career
Cost 3. You’ve missed the opportunity to attract another 2 listings from nearby sellers who contact the listing agent to get their property on the market.
So that $10,000 opportunity is actually a $40,000 loss.
The reason I’m explaining it this way is to emphasize the importance of getting the listing and a number of factors will come into play that influence your success.
They include:
• Pre-existing relationship quality. Communication and quality follow up. • The effectiveness of your Pre-Listing Kit
• Your Listing Presentation and
• Your closing skills
So let’s talk about closing.
I have a core belief that people WANT to be sold to.
If you’re standing in the kitchen talking about selling their property, the owner is obviously looking for a real estate solution.
So what are you doing to really position yourself as that solution?
The magic leaves with you
When you reach that lovely little moment where you ask the seller to appoint you, what do you say?
I know some agents like to come back for a second visit but I’m not a fan and let me give you five reasons why.
1. It’s usually way harder to get that second appointment
2. You risk a competitor listing the property in that window between your visits
3. When you’ve just delivered a great listing presentation and there’s a nice positive vibe in the air, that my friends is the time to pop the question because when you walk out that front door, the magic leaves with you
4. The seller will think you lack courage if you can’t ask to be their agent.
They will probably think, if this agent can’t ask me for my business, how are they going to ask a buyer for an offer? Fair point.
5. You should be way too busy to waste time on a second visit
If you’re there, LIST the property.
Setting up the close
It’s normally impossible to close until you’ve answered all the seller’s questions and they feel 100% comfortable appointing you as their agent.
I believe this MUST be done during your listing presentation and you do this by having the seller set the agenda for the meeting so they get feedback or answers on the things that are important to them, not to you.
I cover this completely in The Ultimate Listing Presentation. It’s a .pdf and .word so you can add the letters and essentials into your system. You also get an audio file that walks you through the process. I show you how to set up the very best Pre-Listing Kit and when to deliver it.
The Trial Close
Want to test the water before you ask the BIG question? Try this:
It’s sometimes fun and very interesting to test the water during your presentation. My favourite way to do this involves a repairs or improvement idea.
I love enhancing a property before it hits the market and selling beautiful 1960s apartments in Melbourne’s inner southeast often calls for some fixing up. It might be paint, carpet, floor sanding, tiling in the bathroom or kitchen or just looking for ways to create more light and life.
But no matter where you are, you can usually find some way to enhance a property before it hits the market.
“Mrs Seller, I really think we might benefit from giving the living room a fresh coat of paint. What about I call my painter Mario and get you an estimate? Let’s see what costs are involved before we go ahead”
This is while I’m walking around. I’m not even appointed yet but I’m using “we” like we’re already a team.
If Mrs Seller says “Yes” to this request, chances are she’ll say yes when you ask to be her agent.
If she says “No” you’ve still got some work to do.
The Main Close
Your listing presentation is done and the sellers tell you that you’ve answered all their questions. It’s critically important to do this before you say:
“Well Mr and Mrs Seller, are you happy to let me handle things for you?” or
“Well Mr and Mrs Seller, I’m ready to get to work if you are.”
The ‘We need to think about it’ close
“Okay no worries. What about we do this. I’m going to go out to my car and make a few calls. Is 20 minutes okay?”
The ‘Not selling yet’ close
“Okay I totally understand. But when the time comes, are you happy for me to be your agent?”
When the seller says “Yes” you look them in the eye, shake their hand and say “Fabulous, I can’t wait to help you achieve a top result”
When you get back to your office you write and mail a card that says:
Dear Mr and Mrs Seller.
Great to meet with you today.
Thank you for appointing me as your agent (When the time comes) I’ll be in touch.
The photo close
Use this one where there is some resistance and you’ve either been rejected when you asked to be their agent or you just felt you’d get a negative response.
“You have such a great property Mr and Mrs Seller, I’ve got an idea I’d like
to run by you. When you’re selling a property, great photos are the most important marketing weapon you have so here’s what I’d like to do. I’d like
to bring back our professional photographer and show you just how
appealing she will make your property look to buyers. And if you decide to list with another agent, I’d like you to have these professional photos with
my compliments”
If the seller says “Yes” to that, they will probably be hiring you. If they say “No” you still have some work to do.
When the seller wants a lower fee (I LOVE the hustle in this)
Never call it commission. To non-agents, commission implies we’re getting something for nothing, where, as we know, we run the risk of working out butts off for no reward if we don't make a sale.
Call it your Fee For Service
“Mr Seller, I understand you’d like a lower fee but I’m all about adding value.
I not only believe I will achieve a better result for you than any other agent,
I’d like to insert a clause on our listing agreement/authority that says THE SELLER RESERVES THE RIGHT TO RENEGOTIATE THE AGENT’S FEE AT ANY TIME PRIOR SIGNING THE CONTRACT”
There are numerous fee defence scripts but I have never used anything better than this.
Here’s a quick and important point on the whole fee thing:
I’m all about adding value and I will back myself to produce not only a better result in a reasonable time but a better overall real estate experience for my client.
If I was just the same as every other agent and produced the same result then why the heck would anyone hire me?
My personal branding and marketing mantra is this:
“Mr and Mrs Seller, the thing I love most about real estate is that it has no recommended retail price. I use a system that helps my sellers achieve a superior real estate result. Can I show you how it works??”
(I’m talking about the system described in my book, ‘How To Sell Your Home For More’)
But, at the end of the day, I’m there to get the listing.
I fully understand that winning the listing is also winning the chance to deprive my competition of a listing and winning the chance to list 2 or more properties around the listing in the coming 12 months.
So before I say “No” to reducing my fee, I need to think very carefully if I’m prepared to take that $40,000 risk.
My advice to you is GET THE LISTING because that’s where the magic
happens. :-)
If, at the end of the day and after all other avenues are exhausted, you need too make some fee allowances to secure the business, then my advice is to do it.
7. Open Home Scripts
Identify potential sellers without scaring them off. Identify genuine buyers with three quick but very effective questions.
If you haven’t already, listen to my interview with $2 Million a year agent Adrian Bo and check out his brilliant open home strategy. You’ll LOVE it, I Promise. Check it out at www.topagentsplaybook.com/95
Your mission at an open is to attract and find buyers for the property you’re selling. After that, you should be collecting as many new contacts as possible.
I will ALWAYS ask for a name and number at an open and most buyers are expecting me to do that.
I will ask and record my open home visitor’s info before I do anything else. (See Open House Feedback and Registration templates at Jigglar.com under the GET LISTINGS Category)
Then I will engage the visitor by asking questions like this;
”Have you seen through this property before?”
”Would you like me to let you know if the property is going to be sold?” How to qualify a buyer
At an open home, you only need to ask 3 questions to qualify your buyers. Here’s what I’m thinking...
If we all agree that time is our most precious resource, then why waste it working with buyers who are not ready to buy?
I know many agents and especially rookies struggle to manage their time and are easily distracted with a buyer who may or may not be ready to go.
But what if we could quickly qualify our buyers with 3 questions to help us make that time investment decision and help them out at the same time.
What if you could provide great assistance without wasting your time on someone not even close to buying?
And there’s another very important factor here that will cost you big money if you fluff it up; What if the buyer is also a seller?
If you turn them away, then you’ll struggle to become their listing agent.
I’ll get to the qualifying questions in a moment but there’s something you need to do first.
Write two or three blogs on your website so you can refer buyers to them when you let them down gently.
If you don’t have your own website and blog, you need to get one.
Your articles will be something like:
• 5 things to look for before you buy in (your area) • A Buyer’s Guide to (your area) real estate
• 12 buyer tips for buying real estate in (your area) • 3 success stories from buyers in (you area)
These blogs will also help MASSIVELY with organic search.
You need helpful, supportive and informative blogs because you’ll be referring your B class buyers to them so you can continue to help them on their purchasing journey.
Okay, so here are the 3 buyer qualifying questions:
1. How long have you been looking? 2. What have you seen that you like? 3. Have you made any offers?
At this point you will be able to assess if the buyer is also a seller and act accordingly.
Here’s another great question to see where they are at in the buying process: “Have you lined up a good mortgage deal? I can refer you to an excellent mortgage broker if you like”
So by now you know if they are ready to buy or not.
But here’s the thing: Most rookie agents just can’t say “no”
They burn valuable time at open homes speaking to buyers who literally CANNOT buy or agree to take them on a tour of homes for sale. TOTAL MADNESS! HELLO?
They do the easy, non productive actions that have way less chance of getting results instead of investing their time wisely in quality, solid prospecting.
When you get a listing, the ‘real’ buyers come to you.
So after asking your qualifying questions, you’ll know if your buyer is ready to go or not. There are no ‘maybes’ here.
If yes, then great. You know what you need to do.
If no, then why not grab their email and send them a link to your blog to help them get ready to buy.
You have a heap of options here.
The mission is to quickly establish if a buyer is ready to go and worth investing time in.
There are plenty of ways to help a buyer if they’re not ready to buy.
8. Open Home follow-up Scripts.
Probably one of the most important prospecting actions you can undertake but few agents do it and even fewer do it right.
“Hello Jane it’s Ray Wood calling from ABC real estate it’s just a courtesy call. You came by our open home at 21 Smith St. on the weekend and I wanted to get your feedback.”
(response)
You then have a number of options following initial contact. Be a detective and find out what’s going on.
Are they actually looking to buy?
Are they actually looking to sell?
Are they a neighbour just checking the place out? Or a friend of the owners checking you out?
If you handle this person correctly, there’s a very good chance that they, or someone they know, will become a future client of yours.
This is why you need to have a comprehensive list of topics in your blog.
So whatever their needs, you can send them a link to an article that is going to help them with their purchasing journey.
Obviously, it’s pretty hard to send them a link unless you have their email address so this is a great way to get it.
You are just starting to build the relationship and bring another contact into your world so some solid ‘LOVE’ at the start is going to help immensely.
9. Price Reduction Scripts
You fought so hard to win that listing only to lose it to another agent
because you couldn't sell it. I hate it when that happens so let’s reduce the risk of that happening right now.
You can grab a free 30 day trial at Jigglar.com and quickly customize, what I believe, is the best Listing Presentation going around.
Then all you need to do is save it as a .pdf and you’re in business.
The price reduction strategies you’ll find in the presentation are proven to work and work well so make sure you check it out.
Okay... here are my best scripts to make sure you get the reduction you’re looking for and get your sellers sold!
19 Price Reduction Scripts, Ideas & Strategies.
Are you on my VIP list? Jump on now for lots of proven free ideas at TopAgentsPlaybook.com
Is there anything more frustrating than a motivated seller who refuses to take your advice and reduce?
If you really care about your clients (as I know you do), I believe you have a legal moral and ethical obligation to tell them exactly what's going on and get them reduced to sell.
I'm not great at many things.
I can't ice skate, I can't play Poker and I can't drink coffee after 10am.
But I can get a seller to reduce their price like a freakin’ ninja when it’s required and I want to share my ideas and strategies to help you do the same.
And can I tell you that the effectiveness of using these scripts is ten times more powerful when delivered in person.
I once flew from Melbourne to Brisbane (a 2 hour flight) to speak with my sellers and get their price down.
This followed many weeks of ignoring my advice then ignoring my phone calls I didn't tell them I was coming. I just turned up. (You should have seen the look on their faces)
I also told them I wouldn’t leave until they either fired me or took my advice.
A gutsy move I know but I was almost out of agency and other agents were circling like vultures.
I got the reduction and the sale.
Six months later, the market was bloody awful and the seller called to thank me for going to the trouble to help them understand the huge mistake they were making. I remember he said that I saved him $30,000.
In the mail the next day I got a cheque for the airfare. Go figure!
Sometimes it will take more than one visit. Sometimes more than two, but if you’ve invested your time, money and energy into getting a result, don’t do all the prep work for your competition.
And please keep in mind; it’s all about seller motivation. If they don't really need to sell, then the best price reduction ideas will always fall on deaf ears.
You’re there to provide them with the best real estate solution. That’s your job.
Okay... let's do it!
Here are 19 scripts, strategies and ideas to get that price down to where it needs to be and help your seller get where they need to get.
1. Mind your language
When you read through my scripts, notice how I use words like “us”, “we” and “our”. This tells my clients than I’m there with them. They’re not alone. I’m here to
support them whatever happens. We’re a team and working together we’ll find the very best solution.
2. When you feel your market is falling
“Mr and Mrs Seller, I feel I have a duty to tell you that, in my opinion, the market is going down and will continue to fall for the foreseeable future. In the past, where this has happened, property sellers play a game of catch up as they continue to reduce their asking price in the hope of meeting the market. In a falling market, a solid price adjustment is essential”
3. You’re paying me for my advice
“Mr and Mrs Seller, if I’m not able to sell your property, I won’t be charging you anything. That’s the way our industry works. But when I do make a sale for a client, I believe 95% of my fee is for the advice and marketing suggestions I offer along the way.
Right now I have something... some advice, I need to offer and seek your response. It’s my opinion that the current asking price for your property is too high and this will continue to have a negative effect in 3 ways.
First, because buyers always shop on price, they are not considering your property. We know this because the number of buyer viewings is well below average for a home of this type.
Second, The longer you are on the market, the worse it gets. When a buyer sees a home on the market for a period longer than the average days on market, which in your area is X, they begin to wonder why it hasn’t sold.
And third, good buyers are out there right now ready to buy. We know that. The problem is they’re not calling me about your home because our asking price is making the other homes for sale in the area look like much better value”
4. I’m a Marketer, not a Valuer or Appraiser
“Mr and Mrs Seller, the challenging thing about real estate is that it has no specific recommended retail value. We could hire a valuer/appraiser to come by and give us his professional opinion, but he won’t be giving us a cheque. He is NOT our market. I have to deal with real buyers, who pay real money in the real world and right now, that’s the only opinion that matters”
5. Let me get you something you can say “no” to
(let’s say you’re quoting the property at $500,000 plus when your most optimistic opinion of value is $475,000)
“Mr and Mrs Seller, we are missing the market because buyers perceive your property is priced above market. When we do this, one very important thing will
happen: We will attract real buyers who are actually taking the time and trouble to view your home. This has been the missing link for us. We are failing to attract buyers who want to see inside because they feel your property is over-priced.”
By the way. Labelling a property at ‘$500,000 plus’ when the real value is less is marketing suicide and 100% counter productive. If the owner wants $525,000 call it $525,000 or $529,000 but not $500,000 Plus. I see this happen all the time and it’s very poor marketing.
6. Don’t reduce yet. (When you know the price is way too high but it’s too soon to reduce)
“Mr and Mrs Seller, I know it’s early days, but we’re not receiving anywhere near the level of buyer enquiry I expected. This has everything to do with our asking price but let’s not reduce just yet. If there’s no change in a week or so we need to sit down and look at our marketing options
7. The real estate domain stats (look up the public stats and see how popular your listing is and how many page visits it has recorded)
“Mr and Mrs Seller, we’ve been on the market for 5 weeks now and have only had 5 buyer appointments (or whatever it is). The average list to sell time in our area is 4.2 weeks. I’ve taken a look at the (real estate domain/s) buyer visits and I can see your property has attracted more than 500 (or whatever it is) views. This tells me buyers are looking at our listing online but taking it no further. Whenever this happens it’s ALWAYS about price and the buyer perception that the price is too high, the property is over-priced and it’s not worth them taking the time and trouble to view. Online marketing is a critical part of the exercise so we need to convert this buyer interest into inspections”
8. Average days on market
“Mr and Mrs Seller, there’s something very important we need to address; We’ve been on the market for 7 weeks now. The average list to sell time in our area is 4.2 weeks. I don’t want your property to become stale which turns buyers off. I don't want your property to become the home nobody wants. I’d like to suggest a realistic price adjustment and start getting better value from our marketing.
9. You’re property is making other properties look cheap (used this before but it’s very powerful and perfect as a stand-alone price reduction strategy)
Mr and Mrs Seller, good buyers are out there right now ready to buy. We know that. The problem is they’re not calling me about your home because our asking price is making the other homes for sale in the area look like much better value”
10. Are you living where you want to live or where you have to live?
I once listed a home for sale and my clients were elderly couple. Their dream was to retire to the beach and a year before they had bought a home there. The
man wanted to dominate every discussion and refused to reduce the asking price to a more realistic level. We’d been on the market for more than 6 months. The house was on a busy main road and poorly presented. Eventually (when I could get a word in) I asked him if he was living where he wanted to live or where he had to live. When you’re older, quality of life is even more important. It was the message that finally got through. We reduced the price and the home sold quickly. I was devastated to discover his wife died of cancer before they moved out and I find it upsetting to even write about it all these years later. I was pissed at the guy for ignoring my advice and not realizing his seaside retirement dream. Still am!
“Mr and Mrs Seller. You’ve made this amazing investment in a beautiful location. The only thing that’s stopping you from being there is a contract for the sale of this property because buyers believe your price is too high. I would imagine time is really important to you but perhaps I’m missing something. I have to ask... are you living where you want to live or where you have to live?”
11. Not a fast sale, the best sale.
“Mr and Mrs Seller. I’m not interested in a fast sale, I’m interested in the best sale. But here’s the thing; in my experience as a real estate agent, time is money. Literally. When a property remains on the market for sale past the average days on market date, it always seems to sell for a lower price.
12. Have you considered renting? (Use this only when the seller’s motivation is high and you know the HAVE to get a result. You’re looking for a reaction and the seller’s understanding that they are flogging a dead horse at the current asking price)
“Mr and Mrs Seller. Have you considered renting? I know you would prefer to sell but we’re not really getting anywhere”
13. I found out what the problem is. I’ve let you down.
“Mr and Mrs Seller. I’ve worked out why I haven’t found a buyer.
Seller: “Oh great, what is it?”
You: “It’s because I don't have the communication skills to help you understand your asking price is way too high and we are completely off the buyer’s radar. It’s like your property is invisible because the price is scaring buyers away. My job as an agent is to help my selling clients understand that price needs to be adjusted sometimes more than once in the selling campaign. But not in our case, I’ve been unable to do that and I feel I’ve let you down. I’m sorry.
14. Hypothetical evidence
This is buy far my personal favourite. Delivered correctly it has the power to achieve rapid productive results. It requires some research and the beauty in this script is the you are not the bad guy here because you’re reporting someone else’s opinion.
Call up 2 or 3 buyers who have viewed the property and say “Hi Mr Buyer. I just wanted to ask you a quick hypothetical question. A few weeks ago, you looked at 27 Smith Street. I’m not asking you for an offer but I want to give my client, the seller, some feedback. Hypothetically, if you did want to buy the property, what would you pay”
The buyer will always offer an amount well below the asking price.
“Mr and Mrs Seller. I’ve been doing some buyer research to find our why we haven’t had any offers yet. In fact I’ve call some buyers to see what they would be prepared to pay. Jennifer Jones said she felt that (price) would be a fair offer. I also called Sally Smith and she believes the price is around (price)”
I value this kind of buyer feedback because we don’t have a contract right now. Can I suggest we adjust our marketing to help us attract more buyer interest?
15. Off the radar
“Mr and Mrs Seller, the big challenge we have right now is that we are literally off the buyer’s radar. All of our marketing evidence points to the fact that the buyer we need is not seeing your property. It’s completely off their radar”
16. When you’ve had an offer but it fell over.
When this happens, it’s really important to de-brief your client and help them understand that the failed contract or even unsigned verbal offer is worthless and SHOULD NOT form the basis of any REAL and TANGIBLE opinion.
“Mr and Mrs Seller. I think the thing holding us back is the prior offer and contract we had for (price). It’s understandable and even reasonable for you to think that that offer/contract is a real indication of actual value, but in all reality it isn’t and it’s my job to help you understand that. Many sellers fall for the trap of holding on to past offers or signed contracts in the hope that another buyer will do the same but it usually doesn’t happen and causes major delays preventing the seller from getting a sale.
The only real indication of value is a signed contract and a deposit. Everything else is speculative and false because a failed contract or even a verbal offer is totally worthless.”
17. Let’s put the price up! (I love having a bit of fun with a seller from time to time when the situation is right. I use this strategy when the asking price is ridiculously high and there is no buyer evidence to suggest otherwise.
Seller motivation is probably questionable and you need some kind of interruption to help your seller understand the damage they are doing)
Let’s say the price is $550,000 and your opinion of value is closer to $450,000
“Mr and Mrs Seller. I’ve been thinking about our marketing strategy and I think we should increase our asking price to $1 million. Are you okay with that?
Seller: “That’s crazy! Are you on drugs?”
You: “No, but we’re getting zero buyer response with our asking price at $550,000 so we may as well double the price because the way we’re going, we’ll be still on the market this time next year.
18. Opening up a discussion about reducing the price. (Do this at the start of the month)
“Hi Mr and Mrs Seller, it’s the start of a new month and I’m setting up my marketing schedule for the next 30 days and I just wanted to know, would you like to be sold this month? You would? Great. I have some ideas, let’s make a time to catch up. What’s better for your Tuesday or Thursday?”
19. Selling real estate is a two-stage process
“Mr and Mrs Seller, selling a property is actually a two stage process. The first stage is to attract a buyer and have them view your property. Nobody is going to make us an offer until they’ve seen inside.
The second stage can only occur once a buyer has been through and they make offer so I can begin to negotiate the best result on your behalf.
The problem right now is that we can’t get to stage one.
10. Buyer Negotiating Scripts and Ideas
Well of course every buyer wants to steal the property and get an amazing deal. But when you use these scripts they’ll see you in a whole new light and you’ll also win a new client for life.
Let’s say our hypothetical property is worth $700,000 to $750,000.
So there’s every chance the owner believes the property is worth $820,000 however the seller believes the property is worth $680,000.
Does this sound like a typical example to you?
In real estate, our job is to help our client the seller achieves the best possible result but we are also charged with the responsibility of producing a solution and sooner or later will need to face the music and bridge this $140,000 gap.
To do that we typically need to work on both sides to bring the deal together.
I want to focus on BUYER negotiating strategies and scripts to help you make it happen.
Typically the first offer will be low so it’s important how you handle it.
Regardless of amount be grateful for the offer and say thank you and let them know that you will be speaking with the seller immediately to get them a response.
The psychology here is very important so right from the start you want your buyer to believe you are going to be able to help them negotiate the purchase of this property and essentially represent them to the best of your ability.
Naturally an offer is more than just money. You need to establish the terms of the deal and other details like what is included with the sale and the amount of deposit and settlement or closing period.
Let’s not forget, in a real estate negotiating situation, everything is on the table. For example, in many cases you will find that while price is important, the seller may be interested in a certain settlement or closing time and other conditions on the agreement for example, does the buyer need to secure a loan or is the purchase subject to a building and pest inspection?
I’m fascinated by the whole negotiating subject in fact, I recently recorded an interview with an FBI hostage negotiator and he shared some valuable insights into successful negotiation.
We are fortunate in real estate because we I dealing in a commodity that holds a high emotional value but also has no fixed recommended retail price.
This is a very powerful combination and you what would be wise to focus heavily on these two facts during your negotiation.
So let’s say your buyer is playing hardball and doesn’t wish to negotiate beyond $710,000
On the other hand your seller has agreed to move and will happily sign the contract at $770,000.
So let’s take a moment to look at what just happened
You might think you’re still a long way from offer and acceptance and you’d be right, however...
You have effectively reduced the negotiating gap from $140,000 to $60,000. You
are more than halfway there! Good work!
Tragically many agents are unable to negotiate beyond this point and lose the deal but not you! Let’s focus on your buyer some more.
Personally, this this is my very favourite real estate activity. Nothing is as exciting as the thrill of bringing a deal together in my opinion. I love this stuff and it’s one of those rare occasions where everybody wins. The buyer gets a property, the seller gets money and the agent takes a fee for making it happen.
As far as I’m concerned, in a standoff like this there is always something to bring the deal closer together because this is where a top agent earns their fee for service.
There are a number of strategies that can be employed with your buyer at this point.
And all the time you are remaining calm and in charge. When we are talking large sums of money, emotions can begin to influence the situation and tempers can get frayed!
Inexperienced or untrained agents will often get caught up and feel they need to become emotional as well. Big mistake.
Simply ask the buyer for more money. Explain that the seller will not sign a contract for $710,000 ...”could I perhaps ask you for an offer of $730,000”
Meet me halfway
In a stalemate situation, regardless of the gap and when I’m nearing last resort I will often try the meet me halfway strategy. You firstly need to clear this with your seller.
Let’s say the buyer is stuck on $730,000 and the seller is stuck on $760,000. They have both ‘dug in’ and are refusing to budge.
Call your seller and let them know that the buyer will not pay anymore than $730,000... but you have a plan.
Mention to the seller that you would like to try one final ‘roll of the dice’ and see if you can have the buyer agree to meet the seller half way at $745,000.
If the seller agrees, call the buyer and tell them same thing.
When everything else has failed, I have got many sales across the line employing this strategy because it appeals to a sense of fair play for both parties.
11. Seller Negotiating Scripts
If your seller is not motivated to sell, it will be very difficult to get the sale across the line. So if you don’t know and before you do anything else, find out why your client is selling.
Real estate deals are done every day. Normally there’s a real estate agent involved that brought everything together.
In a strong market or a sellers market as its called, having a buyer pay the seller’s price is easy.
But good agents become great in tough markets because they have to employ the very best strategies and tactics to help their client, the seller negotiate a result.
It’s probably safe to say that at the beginning of every negotiating situation the buyer thinks they are paying too much and the seller is afraid of excepting too little.
You will often hear a seller say to an agent something like “I’m not going to give it away” and “I have already come down so far, why should I come down any further?”
If you are looking for price reduction scripts take a look back at Chapter 6.
But for now let’s focus on negotiating strategies between buyer and seller from the seller’s point of view.
I don’t want this to happen to you.
On many occasions in my real estate career I was I able to help a seller understand the importance of an offer (and the potential catastrophic consequences of losing it) by sharing a story where a seller had rejected an offer only to wish they had taken it.
This happens all too often.
The agent has an offer which is WAY above anything they’ve had or likely to get but still can’t convince the seller to seriously consider it.
Here’s something I might say in this situation and it needs to be face to face wherever possible as it has ten times more power.
“Mr Seller, I need to speak with you about this offer because I have some
genuine and serious concerns.
On a Number of occasions I have presented what turned out to be great offers to sellers only to find them rejected.
Within a few days the offer is gone and within a few weeks the seller is wishing they had it back again. In my career, I don’t think I can remember a time when a client rejected a good offer and received a better offer later on.
I’m telling you this because I have a philosophy about the my work. If I’m successful in negotiating a sale on your behalf, I’ll be charging you a fee. It’s my belief that 95% of my fee is for advice and helping my client, the seller achieve the best possible price.
For the record I would now like to advise you that in my professional opinion, we will not be able to get a better offer than this one you have right now and you might well be looking at a lower offer at some point in the future.”
Many real estate sellers reject a good offer only to find that they wish they had it back weeks or months later when they’re unable to sell. I don’t want this to happen to you”
I’ve already come down from $820,000
In a sellers mind, they often believe they have already reduced their price from an earlier asking price and will say something like “I’ve already come down from $820,000”
In their mind this may be true however, there is nothing to support a sale price at $820,000 so the reduction is only hypothetical.
In this situation I might say something like “I understand your thinking on this and
it’s pretty common that sellers think this way, however there’s nothing to support
a selling price of $820,000 and if your property was worth that much you would have a contract already so your reduction is only hypothetical. I need to deal with real buyers that pay real deposits”
Take a look at the evidence.
When you’re negotiating with the seller they will cling to any hope of a higher price like a drowning sailor to a life raft.
In this case it’s important to look at the history of your selling campaign. I might say something like...
“My job Mr Seller is to get you highest possible price. However so far we have had 45 buyers inspect your home and there have been more than 2000 unique visits to the website listing from buyers online via the real estate Internet portals.
Your listing has had maximum exposure to the buying public, which is why I’m recommending you accept this offer today.”
12. Just Sold Scripts
Top agents tell me Just Sold Prospecting is some of their most productive. I’m going to share my best Just Sold scripts to help you win big.
Good real estate news like a sale is most effective when it’s fresh that’s why just sole prospecting is so important and powerful.
When you just sold the property you have just negotiated a major style involving many hundreds of thousands of dollars. So you really have something to Crow about.
First off hit the phones.
“Hello John, Ray Wood here from ADC real estate, I just wanted to let you know that we just sold 21 Smith St. We have plenty of buyers so if you know of anybody selling I’d really appreciate if you could give me a heads up”
I have always found the following strategy to be super successful and it works better as a door knock campaign.
“Hello I’m Ray Wood for my ABC real estate and I just wanted to let you know that we’ve negotiated the sale of 21 Smith St. The selling process not public yet but I can let you know when it is”
Here’s your email!
Subject: How much did 21 Smith Street Sell for?
Hi John, I wanted to give you the heads up that 21 Smith St. just sold.
I am unable to disclose the selling price today but happy to let you know once I can.
Please let me know if you’d like to be informed. Kind Regards, Ray
...and here’s your text message:
Boom! Hi John. 21 Smith Street SOLD in 16 days. Message me back if you’d like to know the price and I will let you know once it’s public knowledge. Cheers Ray. PS: the market is pretty hot right now... let me know if you’d like a value update.
Some food for thought and where to from here.
The fastest way to get better at delivering scripts, winning listings, getting price reductions and negotiating a great result is to simply do more of it.
I find some potentially great agents fluff around trying to make sure everything is perfect before pulling the trigger. That, my friend, is a mistake.
Just jump in and give it your best shot. You might make mistakes but you’ll quickly learn and rapidly improve.
I find there’s one specific area that will help you change and reach out for more of what you want is mindset.
My friend Jet Xavier calls mindset the success hack for the 21st century and I agree. Think about it for a moment:
Every action we take and decision we make is influenced by that little voice on our shoulder telling whether we can or can’t do something.
In fact, it’s frightening to imagine the lost opportunities and fortunes lost over the centuries because people told themselves they couldn’t do something so why try.
Real estate is a game of inches. It’s a game of trying and often failing. That’s why there are so few super agents.
But we only go around once as they say... so why not raise the flag and attack? Why not acquire the mindset skills you need to go to the next step.
Let's set up a one-on-one call and I'll give you my best real estate success ideas. Just click https://realadscrm.com/home and set up a time
Dream Big & Take Names
Ray 😎
The chapters are:
1. How to use this manual
Don’t skip this bit. I share a heap of gold and some secret ’treasures’ passed on by legends.
2. 11 Gold medal telephone prospecting scripts most agents don’t use.
By the way… Cold calling is challenging, but get it right and it’s an amazing way to build your pipeline
3. Just Listed Scripts. A very effective way to quickly connect with warm and cold contacts
4. Warm Call Scripts. This is all about building ‘rusted-on’ clients for life to help you build your new business pipeline
5. Hot Potential Seller Scripts. Identify every seller who is likely to
press the button in the next 12 months and use these awesome scripts to convert them to listings
6. Listing Presentation Scripts. I explain why this is so important and give you some killer scripts to help you win more listings
7. Open Home Scripts. Identify potential sellers without scaring
them off. Identify genuine buyers with three quick but very effective questions
8. Open Home follow-up Scripts. Probably one of the most
important prospecting actions you can undertake but few agents do it and even fewer do it right
9. Price Reduction Scripts. You fought so hard to win that listing
only to lose it to another agent because you couldn't sell it. Here are the scripts to make sure that never happens again
10. Buyer Negotiating Scripts. Well of course every buyer wants to
steal the property and get an amazing deal. But when you use these scripts they’ll see you in a whole new light and you’ll also win a new client for life
11. Seller Negotiating Scripts. If we can’t get a property ‘sale-ready’
(and I’m talking about the price) and get an offer through, we’ve got nothing.
12. Just Sold Scripts. Top agents tell me Just Sold Prospecting is
some of their most productive. I’m going to share my best Just Sold scripts to help you win big
1. How to use this manual
The best scripts are more than words and sentences.
Inflection in your voice, cadence, speed, pauses and even your body language all play critical roles and will dramatically influence your success.
Think of a great movie line like Dirty Harry’s “Go ahead... make my day” or Back To The Future’s Dr. Emmett Brown played by Christopher Lloyd with those wild and crazy eyes saying “Roads? Where we’re going, we don’t need roads!”
In fact, the success of almost any movie you can think of comes down to the quality of the script.
A good script can even save a bad plot and every actor will make a yes or no decision to get involved in a project based on the quality of the movie’s script.
I recently listened to Bryan Cranston’s excellent audio book titled ‘A Life In Parts’ and he talks about writing and the actor’s delivery with a surprising candidness I have never heard before.
In his role as Walter White in the smash hit Breaking Bad, he sometimes argued with the writers to change lines because he felt their ideas were different to something Walter would say.
It’s definitely worth a listen. My daughter Tori and I took Bryan’s audio book with us on a cross Canada trip from Toronto to Vancouver. More than three days and 4000 kms which is a gruelling experience anyway you look at it, but listening to his adventures made the time fly by.
Good writing with good delivery is everything.
Why am I telling you this?
I want to make a point and hit home the fact that every minute you can spend learning and practicing these scripts will reward you handsomely with years of
top results.
Which is why the scripts I’m about to share are directly related to helping you win extra results.
So what’s a result?
A listing, a price reduction, an offer or a sale.
What’s the best script to win that listing appointment?
What’s the best script to secure that all-important price reduction? What’s the best script to have a buyer increase an offer?
And what’s the best script to have your seller accept an offer you know is right for them when they point blank refuse. Clue, there’s more than one as you’ll soon discover.
The acting analogies I’m sharing are not by accident.
I believe top agents act in a scene in their own way every day.
Body language, including their gait and facial expressions are an essential part of their overall communication in fact most agents don't even realize they're doing it.
The scripts I’m sharing are lines of dialogue that you’ll deliver in your own way. You can’t facsimile my delivery just as I can’t copy yours.
The lines and ideas I’ll give you are the raw materials you’ll develop in your own way to help you achieve the results you’re looking for.
Some are my own and some are learned from top agents I’ve met, worked with or interviewed.
In a thirty year real estate career, my swipe file of killer scripts is bulging with some of the best lines you’ll ever hear, and now I’m passing them on to you so you can put them to work and get more of the results you’re looking for.
I’m probably going off topic a little bit but I want to pass on something else that can help in almost any situation.
I call it Mirroring and it simply means that you will often enhance your chance of success by slightly reflecting the spoken communication of the person or people you’re with.
By the way, this is a very successful Police interviewing technique because it
works!
If you’re with someone older who might be speaking slowly, you speak slowly too. Speak at their pace. Mirror their style.
If you’re with a younger professional who is blasting out sentences at break neck speed, then you’ll want to pick things up a bit to simply reflect the fact you’re on their level. Remember, you’re an actor auditioning for the role.
It’s my observation that most agents give up after one attempt at anything. Let’s say you need a price reduction.
You make a time to sit down with your seller to help them understand why their current price is doing them damage, but they simply won't listen.
They might say something like “No. The price is the price and that’s that. If you can’t help us get our price, there are plenty of agents that can.”
Most agents leave with their tale between their legs petrified they’re about to lose the listing.
Top agents have an arsenal of proven and powerful scripts to help them help their sellers understand that the agent is not the problem.
I’m not saying this is easy because if it was, everyone would be doing it. And let’s not forget, you’ve been charged with the responsibility to help your client the seller get a result.
That will often mean a contract price well below their
expectations. It might even mean a contract price well below yours.
I’m here to tell you that good scripts, well delivered will help you achieve the result more often than not.
I’m not talking about being salesy and foot-in-the-door belligerent. Nobody likes that guy.
I’m talking about using the very best tools to help you help your clients get where they want to go.
Build a case like a lawyer.
I love a good TV courtroom drama. A skilled lawyer makes a case before a jury to pull off an unlikely victory. But more often than not, there are multiple arguments presented.
Instead of relying on just one or two points, the lawyer presents multiple reasons to support their clients position.
It needs to be the same with us in real estate.
Build your case, just like a good lawyer does. Present a logical argument and provide evidence.
So what evidence would a top agent use?
Let’s say you need a price reduction after 4 weeks on the market with very few buyer appointments or viewings.
Part of your evidence might be the fact that the property has had more than 1000 unique visits on the major real estate websites. That’s a powerful story so why wouldn't you share it with your client?
You’ll find some of your best scripts utilize the power of questions. Does that sound okay to you?
Dream big and take names,
Ray Wood
Host & Presenter TopAgentsPlaybook.com
PS: Every week I speak with agents in my private client group. It’s the favourite part of my day because I’m almost always left inspired by the sheer courage, skill and massive results I get to witness. I know real estate is not for everyone but those that get it right do very, very well.
Who am I and what the heck am I doing tell you what to do?
• For the last 15 years, I’ve been working with some of real estate’s biggest performers. These are the men and women making $100,000 or $200,000 each and every month. I call them Super Agents.
As a 4th generation real estate agent I have lived and breathed real estate all my life. In fact, I have never had ANY other career than real estate.
In a 30 year career I have sold real estate at the elite level, owned my own highly successful agency which has given me more joy and reward than I could have possibly imagined.
I’m a creative and innovative real estate marketer. My book (How To Sell Your Home For More) has sold more than 300,000 copies.
As CEO of real estate marketing group Bestagents, I’m continually learning from our members in Australia, New Zealand, Canada and the USA and love sharing the cool ideas that come from our rapidly growing membership base.
I’m host and presenter at Top Agents Playbook where I secure interviews with the very best agents and try and ask the questions that will let us discover the reasons behind their success.
I’m a founding partner at LockedOn.com (an awesome real estate CRM) and also a founding partner at Jigglar.com which is offers a range of free online marketing designs and templates for real estate professionals.
I have worked and collaborated with some of the best real estate minds on the planet and I see my prime purpose in life is to share my best ideas with others.
2. 11 Gold medal telephone scripts
Prospecting scripts most real estate agents don't use.
Cold calling is challenging, but get it right and it’s an amazing way to build your pipeline
I love doing 1 on 1 coaching calls with my agent clients.
I have a finely tuned technique where we quickly drill down and get to the REAL issues.
Mostly I’m interested in what I call the ‘low hanging fruit’.
These are the things sitting right in front of your nose that need action that make you money.
In many cases, the ripest, juiciest, sweetest low hanging fruit comes from getting on the phone and really connecting with contacts.
But this is where so many agents hit the wall. I call it MCR or Massive Call Reluctance and please believe me when I say it‘s a career killer.
I believe the main reason most agents don’t get on the phone is because they don’t really know what to say. Uncertainty creates fear and fear creates inertia or inaction. In other words, nothing happens!
In fact, it is estimated that less than 10% of agents maintain quality phone contact with someone on their contact list past 6 months after first meeting.
I’m guessing they’re the same 10% making 90% of the income in real estate. The answer is always “no” until you ask.
If you want to win more listings and make more sales, then doing this one thing (getting on the phone) will give you the very best opportunity to double your income in the year ahead!
Getting on the phone also sends a clear and very important message to your contacts that you’re not afraid to make a call and take action. People respect that. It implies motivation and a pro-active professional approach.
If you’re sitting back waiting for your contacts to call you, I’m sorry but you’re dreaming.
The #1 rule in business is, if you don’t ask, you don’t get and I can assure you your competition is probably on the phone building relationships and engaging your contacts as well.
Why would you take the chance to not connect with someone who might be just waiting for your call?
I can tell you that real estate’s top performers are on the phone every day and making a minimum 100 calls a week.
But these are NOT cold calls. This is income boosting, quality communication to
known and established contacts.
They may be buyers, sellers or just professional contacts who refer you leads from time to time but either way, EVERYONE on your contact list needs a regular engaging phone call. It’s like watering your garden. If you don’t, your plants will die.
If you want to get more listings starting today, you need to muster the courage and discipline to get on the phone and make this happen.
And keep in mind the REAL purpose of your call: You’re looking to engage your contacts and leave them better than they were before you called.
So think about what you can offer to help them? How can you enrich their lives? What can you create or produce that positions YOU as the agent with the answers? (this is the key to your telephone marketing)
So here are some ideas, thoughts, strategies, suggestions and scripts I’ve used very successfully myself for many years and also some I’ve ‘borrowed’ from some of the best agents I know.
I’m also a fan of the indirect approach from time to time. It’s less threatening and much easier to deliver. I’ve included it in my scripts below as an option for you.
The 5 Rules of Telephone Prospecting:
1. The important thing is to just do it. By picking up the phone and making that call, you’ve entered the word of the elite agent. Congratulations!
2. The ONLY way you’re going to get better is to actually practice for real. You’ll soon get into a rhythm and settle into a way that works best for you. You’ll develop your own style and build from there.
3. Worried about upsetting or annoying your contact? Well let me tell you, not calling them will upset them even more. On the rare occasion a contact is upset, simply apologize and offer to delete them from your contact list. This is going to happen. Face it. Suck it up and move on.
4. Always call with news and be ready to offer something. Most agents can’t think of anything to offer which is why they don’t call and also why they struggle to get listings and sales.
5. And finally, (and this is vital) you need to call with great positive energy in your voice. People pick up on this and it will definitely influence their reaction and response.
Okay, here are the 11 best scripts I’ve ever used!
Note how each one uses a specific purpose for the call. Feel free to copy and adapt to your personal style.
Script 1. The Reach Out call
“Hi Jane, it’s (your name) here from ABC realty. It’s a while since we’ve spoken and I just wanted to update my details and get things in order. Are you still looking to buy or sell?”
(By the way, this is a great script to use to reconnect or reach out to a contact you haven’t been in touch with for a while)
Script 2. The Market Update Report call
“Hi Jane, it’s (your name) here from ABC realty. We’re just putting this quarter’s Market Update Reports together. It’s a quick summary as to where values in your area are heading. Would you like me to put you on the list to receive one? Contact: Yes that would be great.
You: Okay awesome. Can I just confirm your contact information?
(The Market Update Reports are a really useful contact maker and a great way to capture more valuable info)
Script 3. The Open House call.
“Hi Jane, it’s (your name) here from ABC realty. I just wanted to give you a quick courtesy call and let you know we’re having an open house at 123 Smith Street this Saturday.”
Script 4. The Just Listed call
“Hi Jane, it’s (your name) here from ABC realty. I just wanted to touch base and let you know about a property we’ve got coming up for sale. Are you still looking to buy?
Script 5. The Just Sold call to sellers
“Hi Jane, it’s (your name) here from ABC realty. I just wanted to touch base and let you know about a property we’ve just sold. Are you still looking to sell?
Script 6. The Event call
“Hi Jane, it’s (your name) here from ABC realty. I just wanted to give you a courtesy call and let you know we’re helping out with a special fundraiser for our local school next weekend at (give details)
Script 7. Anniversary calls
“Hi Jane, it’s (your name) here from ABC realty. I notice your (X) year anniversary since you bought your home is coming up. This is a just a courtesy call to say hi and let you know we’re here to help if you need anything.
Script 8. Deadline calls to sellers
“Hi Jane, it’s (your name) here from ABC realty. I know you were looking to sell sometime soon and I just wanted to let you know we’re getting our clients that want to sell by Christmas (or winter or summer or whatever) set up with a great marketing program.
Script 9. Special Offer calls
“Hi Jane, it’s (your name) here from ABC realty. We’ve just set up a special deal with (name) from XYZ home staging. The difference they’re making to homes coming onto the market is amazing. If you’re looking at selling anytime in the next 12 months, I could set you up with an appointment.
Script 10. Special Deal calls
“Hi Jane, it’s (your name) here from ABC realty. I just wanted to let you know about our special Internet marketing package deal (or some other great sounding marketing deal) we’ve got coming up in (next month)
Script 11. Offer access to your list
“Hi Jane, it’s (your name) here from ABC realty. Just a quick call to let you know about my list of tradesmen/contractors/suppliers (call it what you like). It’s a list of my very best professional contacts and my clients love it and I realized you don’t have a copy. Can I email it to you?
So what’s stopping you?
My mission with giving you this list of proven scripts is to remove any excuses and help you get started on what is probably the most lucrative action you can complete in in your working day, week, month and year.
Can you see how these scripts and ideas give a reason for the call and something to ‘anchor’ the call to? There is also a great call-to-action with each script encouraging your contact to take action.
The reality is we never know where our next great referral is coming from so connecting with everyone on your list on a regular basis is the best way to optimize your chances for success.
Keep in mind, it’s just the pure power of numbers and action working in your favour.
3. Just Listed Scripts
Just Listed and Just Sold prospecting (where you are the listing or selling agent) is high yielding because you’re coming from a place of clear authority.
In other words, a seller has chosen YOU to provide the real estate solution they’re looking for. The subliminal thinking or opinion of most neighbours looking to do the same is simply, “if it was good enough for that seller, it’s good enough for me.”
But you can also prospect solidly around your competitor’s listings and sales because there’s a pretty good chance they won't have bothered.
If you’re new to real estate, this is a great way to make new contacts and fill your new listing pipeline.
If you have a phone number you can call, but targeted door knocking is way more productive in my opinion.
When you show up in person, your energy is obviously more powerful. When you knock on the door, make sure you stand well back so as not to threaten or intimidate. And best results happen when you wear your name badge on your shirt or lapel.
The beauty of this type of prospecting is that you’re arriving WITH information that’s more than likely going to be of interest to any potential seller in the area.
In a just sold scenario, you’ll notice that I intentionally leave out any mention of the sale price because I’m looking to engage them and see if they’re interested to learn more.
Your attitude should be confident and business like. You are a person of results and action. You have valuable information that will interest owners in the area. Here are some scripts I’ve invented or ‘borrowed’ over time just for this.
Just Listed
“hello I’m Ray from ABC real estate, I just wanted to give you the heads up that a home has been listed for sale nearby”
Their response will determine whether they are interested to learn more or not.
“Hi, I’m Ray from ABC real estate, we’re just letting property owners in the area know that a home has been listed for sale nearby. Would you like me to keep you posted with the sale status?”
“Ray from ABC real estate, we just listed a home for sale nearby and as a courtesy, our owners have asked us to make sure their neighbours are the first to find out.”
So these scripts are starters designed to break the ice and get the conversation going.
Can you see how offering information and establishing your credibility, as an active agent is central to the process?
4. Warm Call Scripts
These are the important ‘connection’ calls you need to be making daily to your ever-growing list of warm contacts.
In fact, I’m suggesting these are the most important actions you can be completing on a daily basis and totally consistent with something every top agent does.
What you say, will very much depend on your personality and I’d encourage you to get started and just go with the flow and see how it goes. Don’t procrastinate... just get started.
But in my opinion, you can’t just call up someone and shoot the breeze. You’ll quickly burn your contact because you’re wasting their time.
Keep it short, relevant and informative.
You need a theme. What’s happening at the moment?
Are interest rates going up or down?
Is buyer demand increasing or decreasing?
Are you coming into a high or low selling season?
Is a community event happening in the area?
Is there an important zoning change coming their way?
Has there been a recent sale in the area?
Have you just listed something in the area?
Do you have some new contractors or tradespeople on your professional contact? How can you add value?
What do you have your competitors don’t?
“Hi John, Ray Wood calling, just noticed something that I thought might be of interest... There’s a very nice property coming up for sale very close to you that will probably generate a lot of buyer inquiry. If you’re thinking of going on the market, now could be an excellent opportunity for maximum exposure.”
5. Hot Potential Seller Scripts.
Identify every seller who is likely to press the button in the next 12 months and use these awesome scripts to convert them to listings.
If they are serious sellers, then ask serious questions and if you have genuine reasons for concern because of a potential shift in market forces, you have an obligation to pass that info on to your client.
Again, you need to display action. You need to show you have the solution and the plan to execute.
Help your seller understand the very best way to get the result they’re looking for. But more than anything else, there needs to be a REASON for them to take action.
“Hi John, Ray Wood calling, I’m just reaching out to my sellers who are looking to get a result in the next 6 months. (response)
Yes, I’m concerned that an interest rate rise in the New Year will lessen buyer demand. Right now the market is still strong and there is good competition. Have you thought about getting to market sooner rather than later.”
Or what about this?
“Hi John, Ray Wood calling, I was just thinking about you and wondered when you’re going to start getting ready for sale. (response) Well I have a few ideas that will help you add value and I’d be happy to show you what I mean at your convenience”
Or just...
“Hi John, Ray Wood calling. I’m starting to speak with my sellers looking to get on the market anytime in the next six months. I find solid preparation is everything and really beneficial to the end result. Do you want me to include you in the program?”
IMPORTANT- If you have identified a hot seller and you’re not 100% sure they will choose YOU as their agent, you need to jump that hurdle ASAP and find out.
I’m so sick of hearing horror stories form agents that helped a potential seller in so many ways, only to discover they listed with a competitor.
So how do you find out?
Ask the bloody question!
So during a regular call you’ll say something like...
“I just want to level with you John and find out where I stand. Are you happy to appoint me and my team when the time comes to sell?”
... and here’s the thing:
If you don’t ask this question, your potential selling client will probably wonder if you have the courage to ask a buyer for an offer.
So either your potential client will say yes, no or waver. Anything less than a clear “yes” means you obviously have more work to do but at least you know where you stand.
Where the seller says anything less than a clear yes, I would say: “okay, fair enough what do I need to do win your business?”
If you don’t have the courage to find the answer to this question, you’re going to struggle in real estate and probably should consider another line of work... just saying.
6. Listing Presentation Scripts.
Here are 5 Proven Listing Presentation Closing Scripts and Powerful Fee Defense Ideas
The cost of losing a listing is easily underestimated by most agents. Here’s how I see it:
Let’s say your average fee is $10,000
The actual cost of losing a listing is four times the fee you would have received. Cost 1. You don’t get $10,000
Cost 2. You’ve just made a donation of $10,000 to your competitor’s career
Cost 3. You’ve missed the opportunity to attract another 2 listings from nearby sellers who contact the listing agent to get their property on the market.
So that $10,000 opportunity is actually a $40,000 loss.
The reason I’m explaining it this way is to emphasize the importance of getting the listing and a number of factors will come into play that influence your success.
They include:
• Pre-existing relationship quality. Communication and quality follow up. • The effectiveness of your Pre-Listing Kit
• Your Listing Presentation and
• Your closing skills
So let’s talk about closing.
I have a core belief that people WANT to be sold to.
If you’re standing in the kitchen talking about selling their property, the owner is obviously looking for a real estate solution.
So what are you doing to really position yourself as that solution?
The magic leaves with you
When you reach that lovely little moment where you ask the seller to appoint you, what do you say?
I know some agents like to come back for a second visit but I’m not a fan and let me give you five reasons why.
1. It’s usually way harder to get that second appointment
2. You risk a competitor listing the property in that window between your visits
3. When you’ve just delivered a great listing presentation and there’s a nice positive vibe in the air, that my friends is the time to pop the question because when you walk out that front door, the magic leaves with you
4. The seller will think you lack courage if you can’t ask to be their agent.
They will probably think, if this agent can’t ask me for my business, how are they going to ask a buyer for an offer? Fair point.
5. You should be way too busy to waste time on a second visit
If you’re there, LIST the property.
Setting up the close
It’s normally impossible to close until you’ve answered all the seller’s questions and they feel 100% comfortable appointing you as their agent.
I believe this MUST be done during your listing presentation and you do this by having the seller set the agenda for the meeting so they get feedback or answers on the things that are important to them, not to you.
I cover this completely in The Ultimate Listing Presentation. It’s a .pdf and .word so you can add the letters and essentials into your system. You also get an audio file that walks you through the process. I show you how to set up the very best Pre-Listing Kit and when to deliver it.
The Trial Close
Want to test the water before you ask the BIG question? Try this:
It’s sometimes fun and very interesting to test the water during your presentation. My favourite way to do this involves a repairs or improvement idea.
I love enhancing a property before it hits the market and selling beautiful 1960s apartments in Melbourne’s inner southeast often calls for some fixing up. It might be paint, carpet, floor sanding, tiling in the bathroom or kitchen or just looking for ways to create more light and life.
But no matter where you are, you can usually find some way to enhance a property before it hits the market.
“Mrs Seller, I really think we might benefit from giving the living room a fresh coat of paint. What about I call my painter Mario and get you an estimate? Let’s see what costs are involved before we go ahead”
This is while I’m walking around. I’m not even appointed yet but I’m using “we” like we’re already a team.
If Mrs Seller says “Yes” to this request, chances are she’ll say yes when you ask to be her agent.
If she says “No” you’ve still got some work to do.
The Main Close
Your listing presentation is done and the sellers tell you that you’ve answered all their questions. It’s critically important to do this before you say:
“Well Mr and Mrs Seller, are you happy to let me handle things for you?” or
“Well Mr and Mrs Seller, I’m ready to get to work if you are.”
The ‘We need to think about it’ close
“Okay no worries. What about we do this. I’m going to go out to my car and make a few calls. Is 20 minutes okay?”
The ‘Not selling yet’ close
“Okay I totally understand. But when the time comes, are you happy for me to be your agent?”
When the seller says “Yes” you look them in the eye, shake their hand and say “Fabulous, I can’t wait to help you achieve a top result”
When you get back to your office you write and mail a card that says:
Dear Mr and Mrs Seller.
Great to meet with you today.
Thank you for appointing me as your agent (When the time comes) I’ll be in touch.
The photo close
Use this one where there is some resistance and you’ve either been rejected when you asked to be their agent or you just felt you’d get a negative response.
“You have such a great property Mr and Mrs Seller, I’ve got an idea I’d like
to run by you. When you’re selling a property, great photos are the most important marketing weapon you have so here’s what I’d like to do. I’d like
to bring back our professional photographer and show you just how
appealing she will make your property look to buyers. And if you decide to list with another agent, I’d like you to have these professional photos with
my compliments”
If the seller says “Yes” to that, they will probably be hiring you. If they say “No” you still have some work to do.
When the seller wants a lower fee (I LOVE the hustle in this)
Never call it commission. To non-agents, commission implies we’re getting something for nothing, where, as we know, we run the risk of working out butts off for no reward if we don't make a sale.
Call it your Fee For Service
“Mr Seller, I understand you’d like a lower fee but I’m all about adding value.
I not only believe I will achieve a better result for you than any other agent,
I’d like to insert a clause on our listing agreement/authority that says THE SELLER RESERVES THE RIGHT TO RENEGOTIATE THE AGENT’S FEE AT ANY TIME PRIOR SIGNING THE CONTRACT”
There are numerous fee defence scripts but I have never used anything better than this.
Here’s a quick and important point on the whole fee thing:
I’m all about adding value and I will back myself to produce not only a better result in a reasonable time but a better overall real estate experience for my client.
If I was just the same as every other agent and produced the same result then why the heck would anyone hire me?
My personal branding and marketing mantra is this:
“Mr and Mrs Seller, the thing I love most about real estate is that it has no recommended retail price. I use a system that helps my sellers achieve a superior real estate result. Can I show you how it works??”
(I’m talking about the system described in my book, ‘How To Sell Your Home For More’)
But, at the end of the day, I’m there to get the listing.
I fully understand that winning the listing is also winning the chance to deprive my competition of a listing and winning the chance to list 2 or more properties around the listing in the coming 12 months.
So before I say “No” to reducing my fee, I need to think very carefully if I’m prepared to take that $40,000 risk.
My advice to you is GET THE LISTING because that’s where the magic
happens. :-)
If, at the end of the day and after all other avenues are exhausted, you need too make some fee allowances to secure the business, then my advice is to do it.
7. Open Home Scripts
Identify potential sellers without scaring them off. Identify genuine buyers with three quick but very effective questions.
If you haven’t already, listen to my interview with $2 Million a year agent Adrian Bo and check out his brilliant open home strategy. You’ll LOVE it, I Promise. Check it out at www.topagentsplaybook.com/95
Your mission at an open is to attract and find buyers for the property you’re selling. After that, you should be collecting as many new contacts as possible.
I will ALWAYS ask for a name and number at an open and most buyers are expecting me to do that.
I will ask and record my open home visitor’s info before I do anything else. (See Open House Feedback and Registration templates at Jigglar.com under the GET LISTINGS Category)
Then I will engage the visitor by asking questions like this;
”Have you seen through this property before?”
”Would you like me to let you know if the property is going to be sold?” How to qualify a buyer
At an open home, you only need to ask 3 questions to qualify your buyers. Here’s what I’m thinking...
If we all agree that time is our most precious resource, then why waste it working with buyers who are not ready to buy?
I know many agents and especially rookies struggle to manage their time and are easily distracted with a buyer who may or may not be ready to go.
But what if we could quickly qualify our buyers with 3 questions to help us make that time investment decision and help them out at the same time.
What if you could provide great assistance without wasting your time on someone not even close to buying?
And there’s another very important factor here that will cost you big money if you fluff it up; What if the buyer is also a seller?
If you turn them away, then you’ll struggle to become their listing agent.
I’ll get to the qualifying questions in a moment but there’s something you need to do first.
Write two or three blogs on your website so you can refer buyers to them when you let them down gently.
If you don’t have your own website and blog, you need to get one.
Your articles will be something like:
• 5 things to look for before you buy in (your area) • A Buyer’s Guide to (your area) real estate
• 12 buyer tips for buying real estate in (your area) • 3 success stories from buyers in (you area)
These blogs will also help MASSIVELY with organic search.
You need helpful, supportive and informative blogs because you’ll be referring your B class buyers to them so you can continue to help them on their purchasing journey.
Okay, so here are the 3 buyer qualifying questions:
1. How long have you been looking? 2. What have you seen that you like? 3. Have you made any offers?
At this point you will be able to assess if the buyer is also a seller and act accordingly.
Here’s another great question to see where they are at in the buying process: “Have you lined up a good mortgage deal? I can refer you to an excellent mortgage broker if you like”
So by now you know if they are ready to buy or not.
But here’s the thing: Most rookie agents just can’t say “no”
They burn valuable time at open homes speaking to buyers who literally CANNOT buy or agree to take them on a tour of homes for sale. TOTAL MADNESS! HELLO?
They do the easy, non productive actions that have way less chance of getting results instead of investing their time wisely in quality, solid prospecting.
When you get a listing, the ‘real’ buyers come to you.
So after asking your qualifying questions, you’ll know if your buyer is ready to go or not. There are no ‘maybes’ here.
If yes, then great. You know what you need to do.
If no, then why not grab their email and send them a link to your blog to help them get ready to buy.
You have a heap of options here.
The mission is to quickly establish if a buyer is ready to go and worth investing time in.
There are plenty of ways to help a buyer if they’re not ready to buy.
8. Open Home follow-up Scripts.
Probably one of the most important prospecting actions you can undertake but few agents do it and even fewer do it right.
“Hello Jane it’s Ray Wood calling from ABC real estate it’s just a courtesy call. You came by our open home at 21 Smith St. on the weekend and I wanted to get your feedback.”
(response)
You then have a number of options following initial contact. Be a detective and find out what’s going on.
Are they actually looking to buy?
Are they actually looking to sell?
Are they a neighbour just checking the place out? Or a friend of the owners checking you out?
If you handle this person correctly, there’s a very good chance that they, or someone they know, will become a future client of yours.
This is why you need to have a comprehensive list of topics in your blog.
So whatever their needs, you can send them a link to an article that is going to help them with their purchasing journey.
Obviously, it’s pretty hard to send them a link unless you have their email address so this is a great way to get it.
You are just starting to build the relationship and bring another contact into your world so some solid ‘LOVE’ at the start is going to help immensely.
9. Price Reduction Scripts
You fought so hard to win that listing only to lose it to another agent
because you couldn't sell it. I hate it when that happens so let’s reduce the risk of that happening right now.
You can grab a free 30 day trial at Jigglar.com and quickly customize, what I believe, is the best Listing Presentation going around.
Then all you need to do is save it as a .pdf and you’re in business.
The price reduction strategies you’ll find in the presentation are proven to work and work well so make sure you check it out.
Okay... here are my best scripts to make sure you get the reduction you’re looking for and get your sellers sold!
19 Price Reduction Scripts, Ideas & Strategies.
Are you on my VIP list? Jump on now for lots of proven free ideas at TopAgentsPlaybook.com
Is there anything more frustrating than a motivated seller who refuses to take your advice and reduce?
If you really care about your clients (as I know you do), I believe you have a legal moral and ethical obligation to tell them exactly what's going on and get them reduced to sell.
I'm not great at many things.
I can't ice skate, I can't play Poker and I can't drink coffee after 10am.
But I can get a seller to reduce their price like a freakin’ ninja when it’s required and I want to share my ideas and strategies to help you do the same.
And can I tell you that the effectiveness of using these scripts is ten times more powerful when delivered in person.
I once flew from Melbourne to Brisbane (a 2 hour flight) to speak with my sellers and get their price down.
This followed many weeks of ignoring my advice then ignoring my phone calls I didn't tell them I was coming. I just turned up. (You should have seen the look on their faces)
I also told them I wouldn’t leave until they either fired me or took my advice.
A gutsy move I know but I was almost out of agency and other agents were circling like vultures.
I got the reduction and the sale.
Six months later, the market was bloody awful and the seller called to thank me for going to the trouble to help them understand the huge mistake they were making. I remember he said that I saved him $30,000.
In the mail the next day I got a cheque for the airfare. Go figure!
Sometimes it will take more than one visit. Sometimes more than two, but if you’ve invested your time, money and energy into getting a result, don’t do all the prep work for your competition.
And please keep in mind; it’s all about seller motivation. If they don't really need to sell, then the best price reduction ideas will always fall on deaf ears.
You’re there to provide them with the best real estate solution. That’s your job.
Okay... let's do it!
Here are 19 scripts, strategies and ideas to get that price down to where it needs to be and help your seller get where they need to get.
1. Mind your language
When you read through my scripts, notice how I use words like “us”, “we” and “our”. This tells my clients than I’m there with them. They’re not alone. I’m here to
support them whatever happens. We’re a team and working together we’ll find the very best solution.
2. When you feel your market is falling
“Mr and Mrs Seller, I feel I have a duty to tell you that, in my opinion, the market is going down and will continue to fall for the foreseeable future. In the past, where this has happened, property sellers play a game of catch up as they continue to reduce their asking price in the hope of meeting the market. In a falling market, a solid price adjustment is essential”
3. You’re paying me for my advice
“Mr and Mrs Seller, if I’m not able to sell your property, I won’t be charging you anything. That’s the way our industry works. But when I do make a sale for a client, I believe 95% of my fee is for the advice and marketing suggestions I offer along the way.
Right now I have something... some advice, I need to offer and seek your response. It’s my opinion that the current asking price for your property is too high and this will continue to have a negative effect in 3 ways.
First, because buyers always shop on price, they are not considering your property. We know this because the number of buyer viewings is well below average for a home of this type.
Second, The longer you are on the market, the worse it gets. When a buyer sees a home on the market for a period longer than the average days on market, which in your area is X, they begin to wonder why it hasn’t sold.
And third, good buyers are out there right now ready to buy. We know that. The problem is they’re not calling me about your home because our asking price is making the other homes for sale in the area look like much better value”
4. I’m a Marketer, not a Valuer or Appraiser
“Mr and Mrs Seller, the challenging thing about real estate is that it has no specific recommended retail value. We could hire a valuer/appraiser to come by and give us his professional opinion, but he won’t be giving us a cheque. He is NOT our market. I have to deal with real buyers, who pay real money in the real world and right now, that’s the only opinion that matters”
5. Let me get you something you can say “no” to
(let’s say you’re quoting the property at $500,000 plus when your most optimistic opinion of value is $475,000)
“Mr and Mrs Seller, we are missing the market because buyers perceive your property is priced above market. When we do this, one very important thing will
happen: We will attract real buyers who are actually taking the time and trouble to view your home. This has been the missing link for us. We are failing to attract buyers who want to see inside because they feel your property is over-priced.”
By the way. Labelling a property at ‘$500,000 plus’ when the real value is less is marketing suicide and 100% counter productive. If the owner wants $525,000 call it $525,000 or $529,000 but not $500,000 Plus. I see this happen all the time and it’s very poor marketing.
6. Don’t reduce yet. (When you know the price is way too high but it’s too soon to reduce)
“Mr and Mrs Seller, I know it’s early days, but we’re not receiving anywhere near the level of buyer enquiry I expected. This has everything to do with our asking price but let’s not reduce just yet. If there’s no change in a week or so we need to sit down and look at our marketing options
7. The real estate domain stats (look up the public stats and see how popular your listing is and how many page visits it has recorded)
“Mr and Mrs Seller, we’ve been on the market for 5 weeks now and have only had 5 buyer appointments (or whatever it is). The average list to sell time in our area is 4.2 weeks. I’ve taken a look at the (real estate domain/s) buyer visits and I can see your property has attracted more than 500 (or whatever it is) views. This tells me buyers are looking at our listing online but taking it no further. Whenever this happens it’s ALWAYS about price and the buyer perception that the price is too high, the property is over-priced and it’s not worth them taking the time and trouble to view. Online marketing is a critical part of the exercise so we need to convert this buyer interest into inspections”
8. Average days on market
“Mr and Mrs Seller, there’s something very important we need to address; We’ve been on the market for 7 weeks now. The average list to sell time in our area is 4.2 weeks. I don’t want your property to become stale which turns buyers off. I don't want your property to become the home nobody wants. I’d like to suggest a realistic price adjustment and start getting better value from our marketing.
9. You’re property is making other properties look cheap (used this before but it’s very powerful and perfect as a stand-alone price reduction strategy)
Mr and Mrs Seller, good buyers are out there right now ready to buy. We know that. The problem is they’re not calling me about your home because our asking price is making the other homes for sale in the area look like much better value”
10. Are you living where you want to live or where you have to live?
I once listed a home for sale and my clients were elderly couple. Their dream was to retire to the beach and a year before they had bought a home there. The
man wanted to dominate every discussion and refused to reduce the asking price to a more realistic level. We’d been on the market for more than 6 months. The house was on a busy main road and poorly presented. Eventually (when I could get a word in) I asked him if he was living where he wanted to live or where he had to live. When you’re older, quality of life is even more important. It was the message that finally got through. We reduced the price and the home sold quickly. I was devastated to discover his wife died of cancer before they moved out and I find it upsetting to even write about it all these years later. I was pissed at the guy for ignoring my advice and not realizing his seaside retirement dream. Still am!
“Mr and Mrs Seller. You’ve made this amazing investment in a beautiful location. The only thing that’s stopping you from being there is a contract for the sale of this property because buyers believe your price is too high. I would imagine time is really important to you but perhaps I’m missing something. I have to ask... are you living where you want to live or where you have to live?”
11. Not a fast sale, the best sale.
“Mr and Mrs Seller. I’m not interested in a fast sale, I’m interested in the best sale. But here’s the thing; in my experience as a real estate agent, time is money. Literally. When a property remains on the market for sale past the average days on market date, it always seems to sell for a lower price.
12. Have you considered renting? (Use this only when the seller’s motivation is high and you know the HAVE to get a result. You’re looking for a reaction and the seller’s understanding that they are flogging a dead horse at the current asking price)
“Mr and Mrs Seller. Have you considered renting? I know you would prefer to sell but we’re not really getting anywhere”
13. I found out what the problem is. I’ve let you down.
“Mr and Mrs Seller. I’ve worked out why I haven’t found a buyer.
Seller: “Oh great, what is it?”
You: “It’s because I don't have the communication skills to help you understand your asking price is way too high and we are completely off the buyer’s radar. It’s like your property is invisible because the price is scaring buyers away. My job as an agent is to help my selling clients understand that price needs to be adjusted sometimes more than once in the selling campaign. But not in our case, I’ve been unable to do that and I feel I’ve let you down. I’m sorry.
14. Hypothetical evidence
This is buy far my personal favourite. Delivered correctly it has the power to achieve rapid productive results. It requires some research and the beauty in this script is the you are not the bad guy here because you’re reporting someone else’s opinion.
Call up 2 or 3 buyers who have viewed the property and say “Hi Mr Buyer. I just wanted to ask you a quick hypothetical question. A few weeks ago, you looked at 27 Smith Street. I’m not asking you for an offer but I want to give my client, the seller, some feedback. Hypothetically, if you did want to buy the property, what would you pay”
The buyer will always offer an amount well below the asking price.
“Mr and Mrs Seller. I’ve been doing some buyer research to find our why we haven’t had any offers yet. In fact I’ve call some buyers to see what they would be prepared to pay. Jennifer Jones said she felt that (price) would be a fair offer. I also called Sally Smith and she believes the price is around (price)”
I value this kind of buyer feedback because we don’t have a contract right now. Can I suggest we adjust our marketing to help us attract more buyer interest?
15. Off the radar
“Mr and Mrs Seller, the big challenge we have right now is that we are literally off the buyer’s radar. All of our marketing evidence points to the fact that the buyer we need is not seeing your property. It’s completely off their radar”
16. When you’ve had an offer but it fell over.
When this happens, it’s really important to de-brief your client and help them understand that the failed contract or even unsigned verbal offer is worthless and SHOULD NOT form the basis of any REAL and TANGIBLE opinion.
“Mr and Mrs Seller. I think the thing holding us back is the prior offer and contract we had for (price). It’s understandable and even reasonable for you to think that that offer/contract is a real indication of actual value, but in all reality it isn’t and it’s my job to help you understand that. Many sellers fall for the trap of holding on to past offers or signed contracts in the hope that another buyer will do the same but it usually doesn’t happen and causes major delays preventing the seller from getting a sale.
The only real indication of value is a signed contract and a deposit. Everything else is speculative and false because a failed contract or even a verbal offer is totally worthless.”
17. Let’s put the price up! (I love having a bit of fun with a seller from time to time when the situation is right. I use this strategy when the asking price is ridiculously high and there is no buyer evidence to suggest otherwise.
Seller motivation is probably questionable and you need some kind of interruption to help your seller understand the damage they are doing)
Let’s say the price is $550,000 and your opinion of value is closer to $450,000
“Mr and Mrs Seller. I’ve been thinking about our marketing strategy and I think we should increase our asking price to $1 million. Are you okay with that?
Seller: “That’s crazy! Are you on drugs?”
You: “No, but we’re getting zero buyer response with our asking price at $550,000 so we may as well double the price because the way we’re going, we’ll be still on the market this time next year.
18. Opening up a discussion about reducing the price. (Do this at the start of the month)
“Hi Mr and Mrs Seller, it’s the start of a new month and I’m setting up my marketing schedule for the next 30 days and I just wanted to know, would you like to be sold this month? You would? Great. I have some ideas, let’s make a time to catch up. What’s better for your Tuesday or Thursday?”
19. Selling real estate is a two-stage process
“Mr and Mrs Seller, selling a property is actually a two stage process. The first stage is to attract a buyer and have them view your property. Nobody is going to make us an offer until they’ve seen inside.
The second stage can only occur once a buyer has been through and they make offer so I can begin to negotiate the best result on your behalf.
The problem right now is that we can’t get to stage one.
10. Buyer Negotiating Scripts and Ideas
Well of course every buyer wants to steal the property and get an amazing deal. But when you use these scripts they’ll see you in a whole new light and you’ll also win a new client for life.
Let’s say our hypothetical property is worth $700,000 to $750,000.
So there’s every chance the owner believes the property is worth $820,000 however the seller believes the property is worth $680,000.
Does this sound like a typical example to you?
In real estate, our job is to help our client the seller achieves the best possible result but we are also charged with the responsibility of producing a solution and sooner or later will need to face the music and bridge this $140,000 gap.
To do that we typically need to work on both sides to bring the deal together.
I want to focus on BUYER negotiating strategies and scripts to help you make it happen.
Typically the first offer will be low so it’s important how you handle it.
Regardless of amount be grateful for the offer and say thank you and let them know that you will be speaking with the seller immediately to get them a response.
The psychology here is very important so right from the start you want your buyer to believe you are going to be able to help them negotiate the purchase of this property and essentially represent them to the best of your ability.
Naturally an offer is more than just money. You need to establish the terms of the deal and other details like what is included with the sale and the amount of deposit and settlement or closing period.
Let’s not forget, in a real estate negotiating situation, everything is on the table. For example, in many cases you will find that while price is important, the seller may be interested in a certain settlement or closing time and other conditions on the agreement for example, does the buyer need to secure a loan or is the purchase subject to a building and pest inspection?
I’m fascinated by the whole negotiating subject in fact, I recently recorded an interview with an FBI hostage negotiator and he shared some valuable insights into successful negotiation.
We are fortunate in real estate because we I dealing in a commodity that holds a high emotional value but also has no fixed recommended retail price.
This is a very powerful combination and you what would be wise to focus heavily on these two facts during your negotiation.
So let’s say your buyer is playing hardball and doesn’t wish to negotiate beyond $710,000
On the other hand your seller has agreed to move and will happily sign the contract at $770,000.
So let’s take a moment to look at what just happened
You might think you’re still a long way from offer and acceptance and you’d be right, however...
You have effectively reduced the negotiating gap from $140,000 to $60,000. You
are more than halfway there! Good work!
Tragically many agents are unable to negotiate beyond this point and lose the deal but not you! Let’s focus on your buyer some more.
Personally, this this is my very favourite real estate activity. Nothing is as exciting as the thrill of bringing a deal together in my opinion. I love this stuff and it’s one of those rare occasions where everybody wins. The buyer gets a property, the seller gets money and the agent takes a fee for making it happen.
As far as I’m concerned, in a standoff like this there is always something to bring the deal closer together because this is where a top agent earns their fee for service.
There are a number of strategies that can be employed with your buyer at this point.
And all the time you are remaining calm and in charge. When we are talking large sums of money, emotions can begin to influence the situation and tempers can get frayed!
Inexperienced or untrained agents will often get caught up and feel they need to become emotional as well. Big mistake.
Simply ask the buyer for more money. Explain that the seller will not sign a contract for $710,000 ...”could I perhaps ask you for an offer of $730,000”
Meet me halfway
In a stalemate situation, regardless of the gap and when I’m nearing last resort I will often try the meet me halfway strategy. You firstly need to clear this with your seller.
Let’s say the buyer is stuck on $730,000 and the seller is stuck on $760,000. They have both ‘dug in’ and are refusing to budge.
Call your seller and let them know that the buyer will not pay anymore than $730,000... but you have a plan.
Mention to the seller that you would like to try one final ‘roll of the dice’ and see if you can have the buyer agree to meet the seller half way at $745,000.
If the seller agrees, call the buyer and tell them same thing.
When everything else has failed, I have got many sales across the line employing this strategy because it appeals to a sense of fair play for both parties.
11. Seller Negotiating Scripts
If your seller is not motivated to sell, it will be very difficult to get the sale across the line. So if you don’t know and before you do anything else, find out why your client is selling.
Real estate deals are done every day. Normally there’s a real estate agent involved that brought everything together.
In a strong market or a sellers market as its called, having a buyer pay the seller’s price is easy.
But good agents become great in tough markets because they have to employ the very best strategies and tactics to help their client, the seller negotiate a result.
It’s probably safe to say that at the beginning of every negotiating situation the buyer thinks they are paying too much and the seller is afraid of excepting too little.
You will often hear a seller say to an agent something like “I’m not going to give it away” and “I have already come down so far, why should I come down any further?”
If you are looking for price reduction scripts take a look back at Chapter 6.
But for now let’s focus on negotiating strategies between buyer and seller from the seller’s point of view.
I don’t want this to happen to you.
On many occasions in my real estate career I was I able to help a seller understand the importance of an offer (and the potential catastrophic consequences of losing it) by sharing a story where a seller had rejected an offer only to wish they had taken it.
This happens all too often.
The agent has an offer which is WAY above anything they’ve had or likely to get but still can’t convince the seller to seriously consider it.
Here’s something I might say in this situation and it needs to be face to face wherever possible as it has ten times more power.
“Mr Seller, I need to speak with you about this offer because I have some
genuine and serious concerns.
On a Number of occasions I have presented what turned out to be great offers to sellers only to find them rejected.
Within a few days the offer is gone and within a few weeks the seller is wishing they had it back again. In my career, I don’t think I can remember a time when a client rejected a good offer and received a better offer later on.
I’m telling you this because I have a philosophy about the my work. If I’m successful in negotiating a sale on your behalf, I’ll be charging you a fee. It’s my belief that 95% of my fee is for advice and helping my client, the seller achieve the best possible price.
For the record I would now like to advise you that in my professional opinion, we will not be able to get a better offer than this one you have right now and you might well be looking at a lower offer at some point in the future.”
Many real estate sellers reject a good offer only to find that they wish they had it back weeks or months later when they’re unable to sell. I don’t want this to happen to you”
I’ve already come down from $820,000
In a sellers mind, they often believe they have already reduced their price from an earlier asking price and will say something like “I’ve already come down from $820,000”
In their mind this may be true however, there is nothing to support a sale price at $820,000 so the reduction is only hypothetical.
In this situation I might say something like “I understand your thinking on this and
it’s pretty common that sellers think this way, however there’s nothing to support
a selling price of $820,000 and if your property was worth that much you would have a contract already so your reduction is only hypothetical. I need to deal with real buyers that pay real deposits”
Take a look at the evidence.
When you’re negotiating with the seller they will cling to any hope of a higher price like a drowning sailor to a life raft.
In this case it’s important to look at the history of your selling campaign. I might say something like...
“My job Mr Seller is to get you highest possible price. However so far we have had 45 buyers inspect your home and there have been more than 2000 unique visits to the website listing from buyers online via the real estate Internet portals.
Your listing has had maximum exposure to the buying public, which is why I’m recommending you accept this offer today.”
12. Just Sold Scripts
Top agents tell me Just Sold Prospecting is some of their most productive. I’m going to share my best Just Sold scripts to help you win big.
Good real estate news like a sale is most effective when it’s fresh that’s why just sole prospecting is so important and powerful.
When you just sold the property you have just negotiated a major style involving many hundreds of thousands of dollars. So you really have something to Crow about.
First off hit the phones.
“Hello John, Ray Wood here from ADC real estate, I just wanted to let you know that we just sold 21 Smith St. We have plenty of buyers so if you know of anybody selling I’d really appreciate if you could give me a heads up”
I have always found the following strategy to be super successful and it works better as a door knock campaign.
“Hello I’m Ray Wood for my ABC real estate and I just wanted to let you know that we’ve negotiated the sale of 21 Smith St. The selling process not public yet but I can let you know when it is”
Here’s your email!
Subject: How much did 21 Smith Street Sell for?
Hi John, I wanted to give you the heads up that 21 Smith St. just sold.
I am unable to disclose the selling price today but happy to let you know once I can.
Please let me know if you’d like to be informed. Kind Regards, Ray
...and here’s your text message:
Boom! Hi John. 21 Smith Street SOLD in 16 days. Message me back if you’d like to know the price and I will let you know once it’s public knowledge. Cheers Ray. PS: the market is pretty hot right now... let me know if you’d like a value update.
Some food for thought and where to from here.
The fastest way to get better at delivering scripts, winning listings, getting price reductions and negotiating a great result is to simply do more of it.
I find some potentially great agents fluff around trying to make sure everything is perfect before pulling the trigger. That, my friend, is a mistake.
Just jump in and give it your best shot. You might make mistakes but you’ll quickly learn and rapidly improve.
I find there’s one specific area that will help you change and reach out for more of what you want is mindset.
My friend Jet Xavier calls mindset the success hack for the 21st century and I agree. Think about it for a moment:
Every action we take and decision we make is influenced by that little voice on our shoulder telling whether we can or can’t do something.
In fact, it’s frightening to imagine the lost opportunities and fortunes lost over the centuries because people told themselves they couldn’t do something so why try.
Real estate is a game of inches. It’s a game of trying and often failing. That’s why there are so few super agents.
But we only go around once as they say... so why not raise the flag and attack? Why not acquire the mindset skills you need to go to the next step.
Let's set up a one-on-one call and I'll give you my best real estate success ideas. Just click https://realadscrm.com/home and set up a time
Dream Big & Take Names
Ray 😎