Real Estate Scripts: Do You Need Them?

ISA and real estate script
ISA and real estate script

Real Estate Scripts: Do You Need Them?

Real estate scripts.

Everyone wants the magic set of words that will get them the appointment or sale every time. Memorizing the right script is all it takes to increase your conversions and become a successful ISA, right?

If only it were that easy!

The truth is that there is no magic real estate script that ISAs and agents can use that will work 100% of the time, regardless of who they are speaking with, and what their specific circumstances are. In reality, call scripts are only useful and effective as part of a wider conversion system and strategy to turn more no’s into yes’s on your calls.

Different Types of Real Estate Scripts

Before we dive into how to incorporate scripts into your strategy and discuss when scripts are useful and when they aren’t, let’s go over the different types of real estate scripts and what makes a good one.

 

First, there are two broad categories of scripts that every real estate agent and ISA needs: one for inbound leads and one for outbound. In addition to those, there should also be special scripts for unusual leads like probate, home valuations, and specific scripts for unique offers.

The most important thing for all of them, however, is that each needs to be tailored to the type of lead you’ll be speaking with. The way you speak to and address a lead is different for people who have sought you out (inbound leads) and for people who you are essentially calling out of the blue (outbound leads).

Second, a good script is one that is straight to the point, asks great questions of the prospect, and has a close that contains a great value proposition. It also needs to not be too wordy and should mostly prompt the lead to do the talking.

Because script or no script, the key to a successful call is understanding what the lead is trying to accomplish, understanding what is preventing them from accomplishing it, and what their own existing plan is to overcome those obstacles.

Scripts Alone Aren’t Enough

Real estate scripts are useful to keep your calls on track and to make sure you are remembering to ask all the necessary questions and gather all the required information. But at the end of the day, scripts are more for beginner ISAs. Primarily because they don’t have the experience that more seasoned ISAs have and so to be successful, they have to rely on tried and tested templates that increase their chances of converting the different types of leads.

More experienced ISAs, on the other hand, know the basics of speaking with outbound and inbound leads, and probably have developed a decent repertoire of questions and responses. More than scripts, seasoned real estate ISAs and agents need to hone and perfect their discovery, objection handling, and closing skills. This is where we come to using scripts as part of a wider conversion system.

Have a Real Conversation

At Smart Inside Sales, we emphasize that your sales calls need to revolve around actual conversations that are enjoyable and productive for both parties. This means that, especially as you get more experienced, you cannot rely solely on pre-programmed responses. Each situation is different and you need to be able to respond appropriately and intelligently to each unique conversation on every call.

For this, we developed a technique to handle objections and to get to the heart of what the lead wants that goes beyond scripts, called the PPO Process. PPO stands for Perspective Process Outcome.

The lead’s perspective is their past experience, knowledge and speculation.

The prospect’s process is their own plan that they have for their situation. The process is typically what will lead to an objection. They have their plan and you are not a part of it in their mind, so they turn you down.

And finally, the outcome. This is the unique result or benefit the prospect believes their process will deliver for them.

Confidently Deal with Objections

Perspective, process, and outcome are the three things that make up any objection. The key here is to understand these three parts of the objection from the lead’s point of view, not just from your own. Below are the five most critical aspects of dealing with an objection once they tell you it:

  1. Acknowledge – Listen to what they say and let them know that you understand it.
  2. Paraphrase – Restate what they said without leading and without interpretation.
  3. Inquire into their perspective, process, and outcome – This is where you dig into their thought process how they see it. Get them to walk you through their knowledge, plan, and the unique thing they hope to accomplish. These are the three things you need to know in order to counter their objection, so ask questions that get you the answers.
  4. Determine the unique benefit or result they hope to achieve – this is their sought after outcome.
  5. Close if appropriate – Close if the lead does not bring up another objection as a result of the PPO process or if it becomes obvious that meeting is the next logical step in your conversation.

Follow this process, understand where the lead’s objection is coming from (from their own point of view), and respond in a way that makes sense given their perspective and goal.

Scripts as Part of an Overall System & Strategy

Real estate scripts are valuable as a general outline of how to approach the different types of leads and to make sure you are hitting all the points you need to hit. This is especially true for newer ISAs who are still learning the finer points of cold calling, sales calls, and converting leads over the phone.

They can’t, however, be the only thing in your wheelhouse. There are no magic scripts that will help you convert every time with every lead. Each conversation is different. To increase your success you have to focus on learning to deal with objections and how to get to the core of what the lead wants. Scripts are helpful to use as a general outline in case you get stuck on a call, but the key is focusing on having real conversations and producing real value for the lead.  

How to Know When It Is Time to Leave Your Team

ISA and real estate team
ISA and real estate team

How to Know When It Is Time to Leave Your Real Estate Team

The real estate industry is unique among many industries because it offers ample opportunities to both work on team and to go at it alone. Real estate agents have the ability to work for a company, and all the resources and benefits that may go along with it, or to be an entrepreneur and build up a reputation and business on their own.

The question then becomes, which option is best for me? Do I want the increased security and support system that comes along with a team, or do I want to build something on my own and keep more of the revenue that I generate? The answers to these questions are different for everyone.

Should I join A Real Estate Team? 

My answers to these questions and others have evolved over the years. I started on my own as a solo agent. I had to learn everything, build my own network, find my own leads, and essentially claw my way up all by myself. At the time it was exactly what I wanted to do. I wanted the increased income potential and I wanted to create something that was mine.

 

But looking back on it now, I think teams are probably the best way to get started in the real estate industry. And if I were to do it over again I would have started on a team. Even if you know you want to eventually go on your own and maybe even build your own team, you can gain invaluable experience by starting out working at a company or on a team.

They can offer you support, guidance, and even leads as you get started in the industry. It takes some of the stress of running the whole business off of your shoulders so you can focus on becoming a home selling ninja.

Treat Yourself Like A Business

But whether you want to work for a team, work for yourself, or work for a team for a while and then work for yourself, the most important thing is that you are always treating yourself as a business. Because you are a business, no matter if you are working by yourself or for a company.

The main implications of this are twofold. First, it means that your career advancement is completely in your own hands. It is your responsibility to improve your skills, hone your craft, and make yourself more profitable. You can never rely on your boss or team leader to do that for you.

Second, it means you need to approach your team or employer as the business transaction that it is. And a proper business transaction should be mutually beneficial. Even if you prefer working for teams, you should leave your current team if what they offer you really doesn’t support you in your business. 

Teams should provide you with resources, support, marketing, and sometimes sales leads, commensurate with the amount of commission you give up to them. If they really aren’t providing much, but take a substantial portion of your commission, then you should leave.

In other words, if you aren’t getting your money’s worth for the amount of commission you are paying to your team, then you have to make the smart decision for your own personal business and leave to a team that offers you greater value, or leave and give it a try on your own.

Should I Go Solo?  

If you are seriously considering leaving your team and working for yourself or starting your own team, you need to ask yourself the following question: Am I ready to really start my own business and do it 100% on my own or is it just time to find a team that better suits my needs and provides more support, culture and opportunity?

Working on your own or even building your own small team can certainly increase your income substantially. But it does also substantially increases the stress and requirements on your time. And it isn’t for everyone. Some people are perfectly happy and in the right spot working for someone else. They enjoy the benefits of not needing to manage and stress over ALL the aspects of running a business. And that is absolutely fine. Many people just love selling homes and working with clients, and all teams need those people. We can’t ALL be business owners, otherwise we would all be solopreneurs without a team to carry out our mission

Also, if you really don’t want to build anything, and you don’t feel like generating more business but you just want to get more of the commission from your deals as a way to increase your income, instead of working harder or smarter, then you probably should not leave your real estate team. Going alone and building your own business is difficult and requires you to work both harder and smarter.

Do You Want to Build Something?  

For some people, the perceived increase of stability and security that come along with working with a team doesn’t interest them. They just need to create their own business and build something for themselves.  If you are one of these people, then you probably already know who you are. Once you realize this, it may be time to leave your real estate team.

But remember to treat yourself like a business. If you are already working with a team then the smart thing to do is to continue working with them until the benefits of leaving outweigh the benefits of staying.

If you are the type of person who hits a plateau and gets bored, then the correct time to leave is when you want more challenge, or feel it is time put your vision into practice. If you think you have a better way and you want to keep more of the fruits of your labor, then it is most likely time to leave your team and go alone.

In the End, the Choice Is Yours

The real estate industry is great because of the different avenues you are able to take within it. But in the end, the choice is yours. The important thing to do is make sure you are doing what you want to do, and doing it in a way that makes sense in view of your goals. Don’t work for a team that doesn’t appreciate you and doesn’t offer you value for value. And don’t work for yourself if you are not prepared to take on all of the responsibility and work.