5 Real Estate Scripts to Win in a Hot Market
Real estate scripts are often a double edged sword for both agents and ISAs. They’re a necessary and useful tool, but you don’t want to solely rely on them to convert your leads. In other words, they are not some magical tool that if only you tweaked perfectly you would be able to turn anyone you speak with into a client. In reality, real estate scripts are most effective when used as part of a wider lead conversion system.
The Key Is to Have Real Conversations
The problem that I sometimes have with an over-reliance on real estate scripts is that agents and inside sales agents run the risk of sounding like a robot. They sacrifice a natural conversation because they are too afraid to deviate from the words on the page. Instead, I believe that scripts should be used more for entering and exiting conversations, with the middle meat of the discussion being more or less free-spoken and based on the specific interaction with that particular lead.
You shouldn’t rely on real estate scripts 100% of the time. A script should act more or less as a guideline or outline for the conversation. Use it to keep your calls on track and to make sure you are remembering to ask all the necessary questions and gathering all the required information. But don’t read, and don’t sound like you have pre-programmed responses.
What Should I Use If I Can’t Completely Rely on Real Estate Scripts?
In addition to having some basic scripts that you can lean on in case your conversation gets off the rails a little bit, you need to develop a conversation system and structure made up of the following:
- Discovery and qualification – find out what the lead’s situation is, what problem they’re trying to solve, and what their end goal is. Plus, you need to be able to determine if they are worth working with or not.
- Objection handling – can you turn a “no” to a “yes”? You’re going to be hearing objections or forms of objections you haven’t heard before. You have to be ready to deal with them on the fly, even if it means deviating from your script.
- Closing skills – no matter how good your script is, you still have to recognize both your path to the close and when it is time to close. If you close too early or too late, even the best script won’t be able to help you.
When Should I Use a Script?
I know what you’re thinking; this article is titled Five Real Estate Scripts to Win in a Hot Market, but I’m just talking about how it’s best to not rely on scripts too much. We are going to go over several effective scripts you can use, but I just wanted to first emphasize that scripts are only as good as the person using them. The key to really improving your lead conversions is to build a structure that allows you to close logically and successfully.
Here are five scripts that you can use as a part of that lead conversion system.
Real Estate Script #1: Seller Valuation Script
One of the most common types of phone calls you’ll be on with sellers is either providing them with a home valuation or following up after they have received an automated home valuation report. The key with these types of leads is not to start off the conversation with “When would you like to sell your home?” or “Are you looking to sell your home?”. The reason is that many people seeking a home valuation are not ready to sell or look for an agent yet.
Your job on these calls is to give the lead what they requested (the home valuation) or further clarify, explain, and improve on the information they already received (in the case of an automated report).
Not an automated valuation report:
Hi Name, this is Agent with Real Estate Company. I’m working on your valuation request for (address) and I have a few questions I need to ask to finish it. Is now a good time?
On a scale of 1-10 where would you rate your home?
And what makes it a (# they picked)
Automated valuation report:
Hi Name, this is Agent with Real Estate Company. I wanted to get your feedback on the automated value we provided for your home. Would you like a more accurate number?
Great, I just need to ask you a few questions about your home in order to do that.
On a scale of 1-10 where would you rate your home?
And what makes it a (# they picked)
Get the thoughts, feelings, and emotions of the lead about their property. Once you get through this intro, then ask questions to discover more about their particular situation. Keep digging until you are able to ask about selling or refinancing.
Real Estate Script #2: Inquiry on Property
When people call you to inquire about a property they’d like to see it should be pretty simple, right? Well, a lot of agents have a tendency to overcomplicate this type of interaction. What I want you to do in these situations is to just set the appointment no matter what. Set the appointment first, before you ask them any discovery or qualifying questions. Why? Because setting an appointment is much more difficult than cancelling one.
The real estate script for property inquiries is a simple one:
Hi Name, this is Agent with Real Estate Company. It looks like you’re interested in Address?
Great, when would you like to go see it?
That’s it. Give the lead what they want and set the appointment. Once you set it, now go into your discovery questions.
How long have you been looking for a house?
Are you seriously looking?
Do you live in the area currently?
What are you looking for?
Are you working with an agent?
And so on.
Real Estate Script #3: Request for a Listing Agent
There are several routes you can take when dealing with a request for a listing agent:
- You can avoid
- You can imply
- You can challenge
- You can offer more, better, faster, cheaper, easier (MBFCE)
The best case scenario is if you can avoid. For example, if the lead asks if they can speak with the listing agent for the property, you can avoid the question and counter with: “When would you like to go see it (address)?”
If the lead keeps pushing for the listing agent and says they have questions for them, then you can try implying: “We have a large team/brokerage, it could be one of ours but I don’t know at the moment. What questions do you have? Do you want to go see the property?”
If the lead is not satisfied by your “avoid” and “imply” answers, then you can move on to challenge: “What’s important about talking to the listing agent?” Then the lead will tell you what advantage they think they’ll gain by talking to the listing agent. That answer allows you to move on to MBFCE and gives you the ammunition you need to close.
More, better, faster, cheaper, easier (MBFCE): “If getting the best deal is important to you, would you be interested in learning how I can:
- “Save you 5% – 10% on the purchase of this home?”
- “Virtually guarantee that your offer wins over the 10-20 other ones the seller will likely get?”
Figure out what they think they will gain by talking to the listing agent and offer it to them.
Real Estate Script #4: Buyer Nurture Video Close
With COVID-19 ramping up again, converting leads to video calls is still a key part of the real estate process. Here are some closes you can use with buyer nurture leads (leads that are ready to buy a home now but will be in the future).
“Most of my buyers find it helpful if we have a quick video call so I can walk them through the neighborhoods and prices so that they can make decisions and narrow down their search. I’m available now for 10 minutes or so. I can send you a zoom link, would you prefer to use your smartphone or laptop?”
“I spend time actively looking for properties that aren’t yet on the market to send to my priority buyers. Let’s have a quick video call, I can pull up my MLS and you can tell me what works for you and doesn’t. That way as I’m finding new sellers out there in the world I can have you top of mind for a good deal.
I can send you a zoom link now, would you prefer to use your smartphone or laptop?”
Buyer Unique Selling Proposition:
“I’m wondering would you be interested in (benefit 1) when it’s time to get serious about your home purchase?
Great, well that’s just one of several benefits we are able to offer to buyers who work with me/our team. I’d like to show everything we offer in case any of it helps you get yourself ready before its time to start seriously shopping.
I can go over it in 5 minutes or so, let’s jump on Zoom so I can show it to you. would you prefer to use your smartphone or laptop?”
Real Estate Script #5: Wrap Up Script
You’ll use the wrap up script with essentially everyone—every new lead that you have coming in.
“Do you have any other homes you are interested in?
I have access to all homes that are currently on the market, if you see something you are interested in, send it to me and I’ll get your questions answered. You don’t need to register on other websites otherwise you’ll have a bunch of sales people hounding you.
Your information is out there on the internet now, so you may get calls from other sales people. You can just let them know you are working with (your name, from your company).”
Use these short scripts as part of your wider system, but remember that they are only useful to you if you are constantly working on discovery, objection handling, and closing.
If you’re an agent or ISA struggling to convert your leads, then Smart Inside Sales has a training program that will help called Conversion University.