Today’s show is PART 2 of ‘Finally End Phone Fear Forever!’
Welcome back to America’s #1 Daily Podcast, featuring America’s #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? https://whylibertas.com/harris or text Tim directly 512-758-0206
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Now that you have your prospecting mindset adjusted for success, let’s get to the real work of real estate; the work that leads to appointments, contracts, and closings.
1. Make a minimum number of contacts daily (a contact is a conversation with a decision-making adult about real estate). That number should equal the number of transactions you need to do this year to meet or exceed your financial goals. If you need 12 deals, you must make at least 12 contacts daily. As your skills increase, that number shrinks. Agents with prospecting skills can usually set one appointment for every 10 contacts, assuming they’re making contacts with likely to list prospects and not just ‘circle prospecting’.
2. Focus on the person you’re speaking to more than you’re focused on your thoughts and feelings about being on the phone. You’re calling to be of service. Maya Angelou famously stated, “They’ll forget what you said but remember how you made them feel.” Remove the words, “I, me, my, and mine” as much as possible to avoid making it all about you. Ask more questions and make fewer statements. Resist interrupting and sounding anxious to get to the next question.
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3. Whom you’re calling matters. “Circle prospecting”, which is calling around listings and sales with Just Listed or Sold scripts are not particularly effective unless you’re calling around your OWN recent sales. Different types of calls yield different results. Contacting expired listings and unrepresented sellers (FSBOs) naturally yields more appointments than ‘cold calling’ random homeowners. Contacting your past clients and sphere of influence (your database) is effective as well, but requires more contacts, more frequently to produce consistent results.
4. Prospect for homes for your buyers. With historically low inventory, your buyers expect you to FIND them their dream home and not just use the online tools that they have access to. Don’t allow your most motivated buyers to be more proactive than you are. Make sure you’re telling them what you’re doing for them so they don’t take matters into their own hands and wander into open houses, new construction, and FSBOs. It’s your job to find them a home, not theirs. Otherwise, what are they hiring you for?
5. Keep track of your ratios: the number of contacts you need to get to each appointment. This helps you duplicate your success. You don’t need 100s of hours on the phone or a crazy number of contacts to make an amazing income. The average commission in the country today is at least $10,000. This means you’re making $120k per year on just one deal per month. How many contacts (a conversation with a decision-making adult about real estate) do YOU take to set up one qualified, close-able listing? Work for a ratio of 1 out of each 10 contacts becoming an appointment.
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6. Schedule and stick to your proactive lead generation. At least 80% of your day must be spent generating new business and 20% on taking care of your new appointments, negotiating, and setting up showings for your buyers.
7. When is the best time to be on the phone or door-knocking? There is no ‘magic hour’, but ideally you’re spending dedicated time in the morning because if you DON’T do that, you’re unlikely to do it later. That said, 3 to 6 pm is a good time slot as well as a weekday morning and a couple of weekday evenings to find people who are unreachable during working hours.
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