3 Questions to Convert Seller Leads
Pique their interest enough to let you get a foot in their door.
May 19, 2015
As a busy speaker and real estate trainer, I am fortunate enough to be able to travel to events all over North America. One of the common characteristics of many places I visit today is a lack of inventory, which exists almost everywhere I go. Whenever there is a lack of inventory, the power very much switches from buyers to sellers, so it’s pretty obvious who you want to be spending the majority of your time with right now: people looking to sell.
As the head of a company that has a department that does nothing else but create leads for real estate professionals, I can tell you from firsthand experience that if you know how to do it, creating seller leads is a lot easier than converting them. With that in mind, here are three questions you can ask potential sellers that will not only help you determine if they are ready to sell now, but also help you convert them into a listing for your business.
Would you be offended if I came by to do a quick five-minute onsite price consultation?
How many times have you had that initial excitement when a company like mine creates a seller lead for you only to find that you can’t get the lead to let you come by and do a true evaluation? Believe me, you are not alone. When following up with a seller lead, you can’t use real estate lingo and say things like “comparative market analysis.” They have no idea what that means!
They also don’t want to give an hour to a stranger to have them come and walk through their house. But if you explain how inaccurate online automatic estimates are and ask if they would be offended if you came by to do a quick five-minute onsite price consultation, you are accomplishing a couple of things. First, you are allowing them to say “no,” which is what they naturally want to do. That is, “No, I wouldn’t be offended if you came by…” Second, you eliminate the unknown of how long you plan to be in their house by asking to do a “quick five-minute onsite price consultation.”
At what price would you become a seller?
Someone who wants to know the value of their home doesn’t necessarily mean they actually want to sell, just like you being curious about your credit score doesn’t mean you want to buy a car. If a potential seller is being a little reluctant, asking them at what price they would become a seller will break through a lot of wasted dialogue if you do it right. If they respond that there is no price they would sell at, then you just did yourself a favor. But if they respond with a price — even if it is above market value — then you know that you have something to work with.
Your neighbor’s house just came up for sale last week. I’m not sure if you are aware but this may have changed the value of your property. Would you like to know how it might have changed?
This line is pure genius, and it leverages something familiar to them that they are always going to be curious about: their neighbor’s property. It also leverages what I call communication 101: It’s not what you say, it’s what people hear. You are saying that their neighbor’s property being listed may have changed the value of their own home, but what did they hear? They heard that their value went up, which only piques their curiosity even more.
Using these three questions will not only help you become a more professional salesperson, but they will ultimately help you convert more of your seller leads and waste less of your time traveling down dead-end roads.