So really, who wouldn’t want to double the number of transactions they close every month… and make twice as much revenue? While we’re granting magical wishes, who wouldn’t want to double their income overnight?
But how do we get those dreamlike wishes granted?
You could spend double the money you are spending now on marketing.
You could double the amount of yellow letters you send.
You could double the number of postcards you send.
You could double your online pay-per-click budget to generate more buyers.
If only you had twice the marketing budget, you could double the transactions you close. That’s an easy answer, but not the logical one. If you could double your marketing budget, you probably would have done that already, right? Of course.
Here’s the thing about driving new leads in to your business: it’s one of the hardest and most expensive things to do. This is where many real estate investors falter or never even get off the ground.
If you’ve tried to double your number of transactions by blindly doubling the amount of money you spend, you may have been disappointed in the results. There have been times when I’ve doubled my budget only to see my number of calls and leads stay the same or worse, go down.
The Smarter Solution Lies in Your Language
There is another way to get what you want – more calls and leads, more deals closed, more sales and more cash – without spending a boatload of money.
It’s simple: focus more of your energy on converting and maximizing the leads that are already calling your office or visiting your website.
This seems obvious, doesn’t it? It’s no big secret, but I’m amazed at how it’s overlooked. Why don’t more investors actually do it?
Until you maximize the number of leads you are already getting and convert more of them into contracts and closed transactions, I wouldn’t recommend spending one extra dime on marketing.
It’s far cheaper and easier to make a few changes to your phone language, follow-up scripts, appointment setting language and in-person presentation than to double your marketing budget.
Even if you spent more money on marketing, are you prepared to handle twice the number of calls from sellers and buyers?
What I have seen again and again is investors who double their marketing budget, get twice as many calls then fail to implement a follow-up system on those leads. Then, far too many of those leads fall through the cracks and end up going cold. At that point, follow up calls are ineffective and the lead dies. Result? Money wasted.
The Fix? Change Your Language.
Surprisingly, it’s a system that gets little or no attention from investors and agents when they get involved in real estate.
It is one major area of improvement rarely mentioned in other courses or coaching programs. If mastered, it can take you from where you are today to where you want to be in an astonishingly short amount of time — without doing anything more than you are right now.
The sad truth is, most real estate investors are terrified when it comes to talking to buyers and sellers. The majority don’t know what to say when objections arise, leaving them feeling unprepared, apprehensive and vulnerable. Even if you’re completely comfortable talking to sellers and buyers in a real estate transaction and do deals on a regular basis, if you don’t know the right “magic words,” you’re leaving money on the table and your conversion rate of leads into contracts is much lower than it should be.
The slightest increase in the effectiveness of your communication can yield massive increases in your cash flow.
In order to succeed in the real estate business, converting more phone calls and leads into appointments, and more appointments into closed deals with contracts should be your number one priority, especially if you can’t afford to double your marketing budget.
Have a script ready and waiting in front of you for sellers and have a script ready and waiting in front of you or whoever answers your phone for buyers. Knowing exactly what you’re going to say will not only increase your confidence, but ensure that you get all the information you need to move forward. It also increases your connection with the seller, establishing a relationship and positioning you as the expert who can solve their problems and meet their needs.
In this newsletter, I’m giving you a peek at a script that I use in my own investing business. It’s also used by my agents at Sharp Concepts Realty to increase their conversion rates.
To learn more, visit www.acceleratedinvestor.com today.