While waiting to meet Barbara Corcoran, Matt O’Neill and I talked about Inside Sales Agent tactics and appointment-setting strategy for the HyperFast podcast.
Matt studied the difference between his agents’ conversion on a showing appointment versus a sit-down buyer appointment, and he was just beginning to implement a new approach.
Here’s what Matt told me about his new approach to appointment setting.
Matt’s always gone for sit-down buyer appointments only, but he’s changing. He recently went to Real Estate B-School and learned that an agent there was getting a 9 times return on their realtor.com meetings while he was only getting a 2.5 return.
Matt reports that this agent’s method is to always open the conversation with:
“Hi, I see you’re interested in 123 Main Street. What questions do you have about the property? When can you see it?”
Once the agent has gotten the lead’s agreement to see the house, the agent follows up with another question.
“Hey, if this isn’t the house you make an offer on, do you have time to see another home that might be a good fit?”
If the lead agrees to see another home, finally Matt’s ISA will say:
“Can I make a recommendation? If this isn’t the perfect home for you, would you have a few minutes just to sit down with me and talk about what you are looking for so I can find it?”
By the time the agent asks for a buyer appointment, they’ve already gotten the lead’s commitment earlier in the call to see another home. This agent reports setting more appointments because the prospects want to see the house, not sit for a consultation.
On our team we ideally would like to sit down for a buyer appointment with the lead, but we train our ISAs to get every appointment they can. If the buyer insists on only seeing that specific property, we set an appointment to meet them there.
When I studied the numbers on the showing appointments vs. the sit-down appointments, I found that we were struggling with showing appointment conversion — so I scheduled training with my team on exactly how to convert at showing appointments.
The top recommendation that came out of that training was: Do not open the door until the prospect answers a few qualifying questions. A lot of agents go early; they turn on the lights; and then they become a door opener.
If you’re going to go early and turn on the lights so you feel prepared, go ahead and do that — but then lock the door and meet the client outside when they arrive. You have a few minutes to create value before you start showing the client the house. This helps convince them to give you feedback while you’re showing the house. If you don’t provide that extra value, you’re just like the Redfin agent or the discount agent who’s just opening the door.
For a deeper look at converting more buyer clients, see our course Master the Buyer Game. In that course you’ll learn how to focus your attention on the most realistic, motivated, and appreciative clients. You can get our buyer course for $199, or get the course FREE of charge with your no-cost 30-Day Trial of our Inner Circle membership program!