First Call
The acronym we use to structure our first call with a connection?
What is ALM
"I want to offer $50,000 under list price so I know I'm getting a good deal."
"List price isn't what we use to determine value. Let's take a look at the comps to see what the value is. I will put together a customized offer strategy for you on this home and give you some options on how we can be aggressive in getting you a great deal"
"Before we meet, can you find out how old the roof is on this home?"
"I can definitely find out for you before we go to see it, are there any other questions you have? Great, I will research that and bring information about the roof when we meet."
Your goal is this when setting appointments
What is 80%
How long is a default My Agent connection?
6 months
What is setting an appointment.
"I won't be able to come to town to see this home for a month. Will it still be available?"
"I'm happy to do a virtual walkthrough with you, where I tour the home on video with you and walk you through it. If you like the home, we can talk next steps. Are there other homes in this area you're interested in?"
"No problem, are you married to them or do you like to keep your options open?"
This percentage of connections buy the first home.
What is < 1%.
How often did a buyer look at a house for it to be considered "specific home interest"?
10+ times in 7 days
ALM can be broken down in to these 3 words.
What is Appointment, Location, Motivation
Client met you for a showing, and has now ghosted you for 5+ days
"Are you ok?"
"No worries if the timing wasn't right, or things changed for you - where should we go from here?"
"Can I actually call you back later, I'm in a meeting?"
“We can definitely talk later! Obviously you are pretty busy, and I don’t want to call at a bad time again, so do you want me to call you back at 1pm today or would 5:30 after work be more convenient?”
On average, new connections take this long to get under contract.
What is 120 days
How long was a re-engaged buyer off Zillow before returning?
14 days
Our main, and sometimes only, value to the connection before meeting is this.
What is a professional door opener.
"I'm not sure I'm ready to commit to working with you as my agent"
"The commitment we are asking for is non-exclusive and can be ended at any time. This is required for us to enter the home together. Of course I'd like to be the agent that hands you the keys in the driveway one day, but if you're ready to look at homes, this is our first step. While we look at the first home or two together, you can decide if I'm the right fit. How does that sound?"
"Wait, I thought I was going to talk to the listing agent, that's not you?"
"I'm a buyer's agent and help represent the buy side of this transaction. The listing agent is hired by the seller to help sell their home for the maximum return. I'll help make sure you get a good deal and use my expertise to make sure you find the right deal. How long have you been searching?"
The HIGHEST conversion rates happen when you show a client 3 different homes within this many hours.
What is 72 hours.
Show me from the app
After setting the appointment, what other two questions should you ask?
What is "what piqued your interest on this home specifically?" AND "Are there any other homes on your radar we could go see as well?"
"I'm going to hold off due to these interest rates"
"We cannot predict how interest rates will fluctuate, but there will be more competition with lower rates. I'm just curious, what got you thinking about moving in the first place?"
"Our last agent gave us some of their commission. Are you willing to do that too?"
"There are generally two kinds of agents: discount agents and full service agents. I am really proud to offer my clients a full service experience. It sounds like you might not have had that before, so I'm excited to show you the difference if we do both decide to work together."
Any decent answer wins you the points on this :)
Target "High performer" conversion rate for connection allocation
What is 5%
Family, Occupation, Recreation, Dreams