Here’s the deal … let’s get real on what to say. I can throw awesome scripts your way all day long. And without two things on your part, they will be worth nothing. The two things to make any kind of income, to get any kind of result out of these scripts are 1.) tweak to make them authentic for you, and 2.) practice.
I cannot emphasize practice enough. I challenge you. If you put in 5-10 hours this week and next week and next and next (that’s 4 weeks, 20-40 hours total), practicing what to say, practicing your presentations, scripts, and dialogues, your business (and confidence) will take off. Sad thing is that most of you won’t do that. Sad thing, most of you won’t put in the time it takes to be amazing with what to say. But the 10 or 20% that will, you’ll thank me. You’ll look back on this advice and realize that it was one of the most significant factors in your breakthrough. I dare you to prove me wrong.
I don’t mean to be Debbie Downer with this practice topic … I just want your success and confidence so much that I am willing to push on this critical topic.
Pick your favorites below, start your own document of favorite scripts, add to it and then camp out on that list every day. You can do this.
So here is a big collection of my favorite scripts. And make sure you read all the way down to the bottom to find the POWER QUESTIONS. The Power Questions are the most simple, most common, and the most profitable. Here we go …
Mr. and Mrs. Seller, thank you for the opportunity to discuss the marketing of your property. If it’s okay with you, let’s make a list now of all the things you have enjoyed about living in this house and this neighborhood. Making a list will help me build a more effective marketing campaign and better highlight your home’s best features. So, what should I put on my list?
- I’ve really enjoyed talking with you. Would you like to get together to discuss this further?
- Your mother’s (sister, friend, neighbor) in real estate? I would be honored to be the 2nd agent on your list.
- Ring ring … the price? Sure, it’s $250. Is that in your range? Is this the main neighborhood you are considering? Have you seen any homes that really interested you? Have you seen the one over on x street? If you like this home you may be interested in the one on y street … have you seen that one? I am happy to show you this house … does this afternoon work for you or is Saturday morning better?
- I don’t know if it’s the right time for me to buy or not. … It’s an amazing time to buy for many people but it may or may not be for you. Let’s talk about your situation.
- Easy script of the day that you can use in just about any situation that involves hesitation / objection / pushback (like not wanting to list now, wanting to interview other agents, a teenager not wanting to get off the couch):
- There’s probably a reason you feel that way. Do you mind if I ask what that is?
- Is that the only reason?
- What would be the drawback if you did move forward?
- We’re interviewing your competition. … Fair enough, I’m interviewing yours.
- We would like to see this house. … Excellent, I am happy to show you. I could do 5 pm today, noon tomorrow or Saturday morning. Which works best for you? There is another house on x street a couple blocks away, have you seen that one? If you like this house there’s a good chance you’ll like that one … why don’t we look at both of them at the same time? (Note: You want to be face-to-face with anyone looking at a house. Even if they say there are working with an agent, don’t assume they are obligated or that they like that Realtor. Get face-to-face and let them see you as an intelligent, normal, not-pushy agent they can trust.)
Signing the Buyer Rep Agreement
- At any given time, I can effectively work with 3-4 buyers who are ready and “clients” (group 1), 3-4 who are preparing (group 2) and 3-4 who are in the discussion stage (group 3). Right now you are in group 3. Let’s talk about your timeline and motivation so I can align my motivation with yours.
- “This is actually the “hiring” document. By signing this document, you officially hire me. At that point you gain access to my priority time slots (evenings, weekends) and you gain access to the silent market (homes advertised in my market center that are not yet on the market) … and you need both of these things to be effective in this market. So let’s move ahead now knowing you can fire me at any time (up to the point of being under contract) if this is not working at a high level.”
- “So many homes are selling before they go on the market right now. We call these pocket listings or the silent market. As soon as you hire me, you gain access to that information.”
Will you reduce your commission?
- There are 2 ways for you to reduce your commission with us and they are outlined in our commission policy which is in your packet. The most common is our 2-house or buy-sell or sell-buy combo where we can reduce the commission on the 2nd We also have a 7% commission that some of our sellers choose. Let’s take a closer look and see which one makes the most sense for you.
- Have 3 dollar bills in your pocket before every listing appointment: I don’t reduce my commission and here’s why. (reach into your pocket & pull out $3) Of the 6%, 3 goes to the buyers’ agent and this represents my 3%. One of these goes to my broker, one of these goes to Uncle Sam and this last one … this part (tear a piece off) goes to run my business including marketing your property and the rest I get to take home.
- There is an agent who said they would put it in the MLS for $495. Your response: I have absolutely no idea how that is a sustainable business plan.
- The other agent said they would reduce their commission. … Let me ask you this: your Realtor’s negotiation skill is perhaps the most important aspect of this process, would you agree? So the other agent already reduced his profit on your transaction … how quickly do you think he or she will back down in negotiating the sales price on your house?
- If I find the buyer (or if I find the house), I feel like we’ve done most of the work and we would like a reduced commission. Your answer: Most buyers find their home online these days with or without the Realtor. Most of the work and skill begins at that point. There are 2 ways for you to reduce your commission with us and they are outlined in our commission policy. The most common is our 2-house or buy-sell or sell-buy combo where we can reduce the commission on the 2nd
Why should I hire you?
- Maybe you should, maybe you shouldn’t. I need to know more specifically what your needs are to make sure I am the right person and can deliver. You’re interviewing me and I’m interviewing you. It needs to be the right match.
- I’m new in the business and hungry. I will hustle like my life and reputation depend on it, because it does. I have seen a lot of experienced agents stretched really thin and you will not get that with me.
- I come from the largest real estate office in Austin (actually, the largest in the country) and have 4 brokers I turn to anytime I need to.
- I’ve studied this neighborhood closer than most experienced agents and I know what is selling and what is not. I know, for example, that 6 homes sold in your subdivision in past 60 days and that there are currently 24 on the market. I also know that 40-50% of the homes in Austin this past 6 months were withdrawn or expired. We can realistically predict that another 5-8 homes will sell in the next 60 days. I would love to sit down with you to figure out how yours can be one of them.
“Hello, I am calling all the neighbors as tax appraisals are coming out soon. We are anticipating a lot of over-valued properties this year so I am watching the neighborhood closely. I attended a workshop the other day on tax appeals and it was very interesting. Let me know when your appraisal comes in and I’ll be happy to share the 201x sales information for our neighborhood.”
I Have a List
- “I have a list of the 5 best priced homes in Austin. Who do you know who needs the list?”
- “I have a list of all the bank-owned properties in Ourtown. Who do you know who needs the list?”
- “I have a list of the best priced condos downtown. Who do you know who needs the list?”
- “I have a list of the lowest-priced homes in the Green Valley School District. Who do you know …”
- “I have a list of the best priced properties in biking distance to downtown. Who do you …. “
“We all understand that verbal negotiations can speed things up but it is also risky and can lead to misunderstandings if another offer shows up or the buyer gets cold feet or changes their mind for one reason or another. So I will proceed with verbal negotiations on this offer with the understanding that time is of the essence and that it is not final until it is signed on paper.”
And verbal negation script #2: “I appreciate the need to move things forward as quickly as possible, but my seller has instructed me that they are only going to respond in writing.”
Over half of the people at open houses say “We already have an agent …” Don’t take that auto response as gospel. So many people give you a false negative; it’s a defense mechanism because they don’t want to be sold. Half is bologna, half may have a relationship with an agent.
“So, who is your agent? How have they engaged with you? Have they sat down & talked strategy with you on how to be effective in this hyper market? So what do they do for you?” (They send me listings online.) [Lean in real close, hand on chin, “you have an internet agent?”] (Note: be careful here … it is super unethical to attempt to take another agent’s client. You are attempting to figure out if they actually and officially have an agent.)
- Is this the only property you have to sell or are there others?
- Who else do you know that I can help?
- You know, I wouldn’t be doing my job if I did not ask you this question now and then … are you guys thinking of doing anything with your real estate this year or is there anyone you know who is that I should be talking to? [pause] My business is primarily referral and it’s my job to know the real estate needs of my friends and their friends.”
- We’re already setting up appointments for [spring]. Who do you know who may need my services?
- Mr. and Mrs. Seller, even though there is an inventory shortage in many price ranges and locations, we currently have over eight months of inventory on the market. This means there is already downward pressure on prices. To avoid chasing the market down if this trend continues, it would be smart to do a price reduction now.
The Power Questions – The PQ’s
PQ #1: I wouldn’t be doing my job
“Hey, real quick . . . I wouldn’t be doing my job if I didn’t ask you this question. Is there anyone you know who may need my services this year? I appreciate you keeping me in mind. I’ll send you a quick e-mail with my contact information. Are you anticipating any real estate needs this year?”
PQ #2: Earn your referrals
“I know you know a number of Realtors. I just want you to know that it is my goal to earn your referrals. Just planting the seed. So what’s the most important thing that you value in a Realtor? While we’re on the topic, are you guys anticipating any real estate needs this year?”
PQ #3: The second on your list
“I respect that you know another Realtor [or that your sister is a Realtor or that you like your old Realtor]. I’d love to be the second on your list. Not everyone is the right match, so keep me in mind. While we’re on the topic, are you anticipating any real estate needs this year?”
PQ #4: The only property?
“Is this the only home you have to sell, or are there others?”
PQ #5: Who do you know?
“Who do you know who may need my services this year? We are already setting appointments for fall.”
PQ #6: Mentioned real estate?
“Is there anyone you know who has recently mentioned real estate?”
PQ #7: Who do you call?
“Who do you call when you have a real estate question?”