We’ve made a change that has already impacted how we convert our buyer leads.
Here are the three outcomes we’ve seen so far. We:
- Win the business more often
- Spend less time with leads that won’t do business with us
- Make higher fees on average
This has our agents (especially the highest converting agents) adding a ton of income to their business.
I’ll share exactly what we’re doing in our business so you can implement it.
I’m not sure about you, but I constantly hear people talking about “adding value” to their customers. I say this, too. I think the problem is that most people don’t know what “adding value” actually means.
Is sending someone properties through the MLS valuable? No. Have you heard of Zillow? Is setting up private tours valuable? Not really.. open houses are easier for most people, and coordinating schedules is a pain.
We have found that serious buyers want to know more about 3 things…
- What other buyers are doing to be successful
- How they can stay protected from losing their money (or worse)
- How to get the best deal possible
So we built our entire buyer sales process around these three points. We deliver it in what we call a Buyer Strategy Session (buyer consultation). This is something we’ve done for years. When agents on our team buy into this process, their conversion rates increase, and they spend less time with less quality leads.
All of this equals more income.
Plus, you add in the fact that buyer agents are going to negotiate their commission just like they would on a listing. Now, we have agents making a higher average commission because of this process.
Here is the hard part. The Buyer Strategy Session that we go through is a 45-minute consultation. That is if they don’t ask any questions…. Most of the time, these consults go for an hour and a half.
… why…
Because buyers have so many questions.
It is very rare that a buyer goes through a strategy session with our agents without asking many questions. This means that our buyers are getting a TON of actual value before we ask for a commitment to work together.
If this sounds like work, it’s because it is.
But on the flip side, here is what is happening…. Our agents are winning the business more often because of the upfront value we give our potential customers.
We are weeding out the buyers who don’t want to commit to working with us. Otherwise, we could be wasting a ton of time showing the property to someone who will never work with us. This allows our agents to handle more leads in their pipeline.
Last, we’re getting our buyer agreements signed at higher fees than the average. We’re able to do this because we’re shown (not told) our value to our customers.
Nailing this process definitely takes buy-in and practice (aka work). If you’re up for that, I am happy to share the exact training my team has access to. I’ve put it in our Start to Finish Community.
The training is called ‘Turn Leads into Clients with a Buyer Strategy Session.’ Inside, you’ll see a 75+ page doc that outlines…
– the entire script
– the 38 slides
– 20+ pro-tips
– 90 minute training video with a deeper dive
This has made a huge difference in our business; next month, it will be even bigger.
