On today’s episode (linked here) on Fresh Agent Mastermind, Scott Hudspeth and Peggy Yee will be sharing how to use a Lead Conversion System.
Let’s talk about a series of systems that you should be using:
Attract: Have a new prospect reach out to you. Use a Lead Generating System to consistently bring in new leads.
Engage: Give your client an irresistible offer to get them to work with you (goal: signed agreement). Use a Lead Conversion System to consistently convert leads to clients.
Delight: Deliver an amazing client experience to create a raving fan. Use a Contact to Close System to provide a high quality service and customer experience.
Retain: Keep in touch with your client so that they do not forget about you and will refer you to their friends, family, and coworkers. Have a Client Appreciation Plan in place to consistently generate referrals from past clients.
In this post, we are going to be discussing the framework for lead conversions that we have talked about as part of the Engage system listed above.
The Lead Conversion System and everything you need to do in between:
- Getting a new lead and converting them to a signed client
- Listing agreement (sellers)
- Buyers Agency Agreement (buyers)
Why do you need a Lead Conversion System? (Leads generally have the same goals and objections)
- Common goals (e.g. sell for top dollar)
- Common objections (e.g. will you lower your commission?)
- Have your responses ready
- Never forget to follow up with a lead again
- Know exactly when to follow up with a lead
- Know exactly what to say
Let’s discuss the list above that details why you need a Lead Conversion System. A Lead Conversion system is your ticket to ensuring your business is running optimally. Having a Lead Conversion System guarantees you will never forget to follow up with a lead again. In addition, you will know exactly when to follow up with a lead, as well as exactly what to say. To make sure you are prepared, have your responses ready.
You want to show your client why they should hire you. Create an irresistible offer. An irresistible offer is something that differentiates you from any other Agent in the market. Some examples include: Satisfaction Guarantee, Full List Price Guarantee, Buyer Happiness Guarantee, Free Staging, etc.
If your goal is to grow a team, then a Lead Conversion System is absolutely crucial.
Part of the Lead Conversion System is asking your clients questions. Strongly consider adding in questions like, How can I do better? What is important to you? Is there anything I didn’t answer? Make sure you are on the same page as your client. Some clients will want a close relationship while other will want their home sold for top dollar with minimal contact. The key is learning what your client wants and adapting accordingly.
Lead Conversion Steps:
- Leads
- Set appointments
- Met appointments
- Signed clients
- Sold
- Repeat customers and referrals
Lead Conversion System Structure:
You will set up 2 processes:
- Buyer lead conversion process
- Seller lead conversion process
This structure should include an Agent Action Plan (Google doc) that outlines the Lead Conversion Process, a script book, and email templates.
Lead Conversion System – 6 Stages:
- Initial contact
- Initial conversation (leads to follow up or junk)
- Pre-appointment preparation
- Appointment – lead follow up
- After signed agreement
What do you do when a buyer lead comes in?
Initial Contact:
Figure out how many times and how to reach out to the buyer and chat with them. If you can, call them within four hours. If not, send them a text that says something along the lines of “Thanks so much for reaching out! I’ll give you a call (when you are free).” If you are unable to reach them, call (or communicate in some form) every other day for five days.
Initial conversation:
During your initial conversation, be prepared with what you are going to say the first time you talk to a buyer. Have a list of what information you want to get, what your goal or next step is for the conversation and/or buyer consultation or showing.
Lead follow up – appointment set:
What do you do after they set up a showing or a buyer consult with you? Make sure to confirm the appointment.
Lead follow up – no appointment set up:
-After the initial conversation (and they don’t want to meet or are not immediately buying)
-When do you stay in touch with them? How often do you call, email or text? Use your CRM/Folder System/ETC
-What do you say during the lead follow up? “Hi (name). I wanted to reach out and see if you were still thinking about buying in six months. Is that still the plan? Is there any question I can answer for you in the meantime?”
What do you do when a buyer lead comes in? Buyer consultation/signed buyer agreement
First, the buyer agreement is signed. Figure out when to get your buyer agreement signed. This may depend from state to state, but this could look like before you show the property or after one showing. Explain to your client why they should sign an exclusive buyer agreement. Think about why they should work with you versus another Agent. Do you offer guarantees that set you apart? How does your client sign? You’ll typically have a template buyer agreement from your association that you should bring with as a hardcopy to your consultation/showing and then have one signed via Docusign.
After a signed buyer agreement:
After a signed buyer agreement, send your client the paperwork and the next steps to put into place. If you have a team, introduce them. Ask your client for a referral! You can create a script like the following: “I’m so excited to be working with you! I’ve noticed from my past clients that when they start looking for homes it always seems like one of their friends or family pops up and is looking too.”
After that, you can add a client appreciation event list. Lastly, you can send a welcome gift.
What do you do when a seller lead comes in?
Initial contact:
- How many times and how do you reach out to the seller to talk to them
- Call within four hours or send a text that says “Thanks so much for reaching out! Ill give you a call (when you are free).”
- If you don’t reach them, call again every other day for the next five days
Initial conversation:
- What do you say the first time you talk to a seller?
- What information should you get?
- What is the next step/goal for the conversation?
- Listing appointment?
Lead follow up – appointment set
- Do you send anything before the appointment?
- How do you prepare for the appointment?
- Look up comps/prepare CMA/print out the listing paperwork
- What do you bring to the listing appointment?
Lead follow up – no appointment set
- After the initial conversation and they do not want to meet or are not immediately buying
- When do you stay in touch with them? How often do you call, email, or text? Use your CRM/Folder System/etc
- What do you say during lead follow up? “Hi (name). I wanted to reach out and see if you were still thinking about buying in six months. Is that still the plan? Is there any question I answer for you in the meantime?”
Listing presentation/signed listing agreement:
- How do you explain why they should sign an exclusive listing agreement?
- What are the benefits of working with you instead of another agent? Do you offer guarantees?
- How do they sign?
- Template listing agreement (typically from your association), additional disclosures, bring a hardcopy with you to listing appointments, sign via Docusign
First, explain why they should sign an exclusive listing agreement as well as the benefits of working with you versus another Agent. Do you offer guarantees? If you do, tell your client. How will your client sign? There is a template listing agreement that is typically from your association, as well as additional disclosures. Bring a hardcopy with you to the listing appointment and have your client sign via Docusign.
After a signed listing agreement:
Send your client the paperwork and the next steps. If you have a team, introduce them. Ask your client for a referral! You can use a script like the following: “I’m so excited to be working with you! I’ve noticed from my past clients that when they start looking to move it seems like one of their friends or family pops up and is thinking of moving too.”
Lastly, add a client appreciation event list and/or send a welcome gift.
During this video we discuss a Lead Conversion Systems Workbook. In the video there is a QR code that gives you access to this FREE workbook. Don’t miss out!
If you want to close 5 more loans a month and and see even more success in your business, head over to Freshagentmarketing.com and schedule your free consultation with Scotty!