It takes a solid ‘call to action’ to generate a response from new prospects. Many have proven to be successful, but these four are the ones I recommend most to my private coaching clients.
by Hoss Pratt
Even the most social of the social butterflies among us canâ€™t denyÂ there are more people we donâ€™t know than we do.Â This makes the math fairly simple:Â the number of potential transactions is greater with strangers than withÂ those we do.
So how do you market to the people that donâ€™t already know, like, and trust you? And what, specifically, is the purpose behind your marketing to this demographic?
The answer to both of these questions can be summed up this way: Â AÂ powerful call to actionÂ is fundamental to getting in front of people outside your sphere of influence.
Youâ€™ve no doubt seen the JoS A. Banks commercial that says, â€œBuy one suit and get two more new suitsâ€¦Â this Saturday only!â€Â Why would they make such a seemingly excessive offer?Â Easy, it gets people to respond. The perceived value is immense because it is â€œthis Saturday onlyâ€Â and Â the resulting perceivedÂ scarcity provokes immediate action.
Hereâ€™s the hookâ€¦ when you walk through the doors on Saturday you already know in your heart of heartsÂ you arenâ€™t going to buy a $500 suit and get two moreÂ $500 suits for free.Â There are always restrictions and as discerning consumers we have come to expect them.
In the real estate industry savvy agents are using this same type of â€˜call to actionâ€™Â to get in front of new prospects.
There are several that have been tested and proven to be extremely successful, but these four are standouts, and the ones I recommend to my private coaching clients.
- Your home sold in 39 days or Iâ€™ll sell it for free! (Or 19, 29, 49 â€“ the fewer days, the better)
- Your home sold in 39 days or Iâ€™ll pay your mortgage until it sells!
- Your home sold guaranteed or Iâ€™ll buy it!
- Your home sold guaranteed or Iâ€™ll pay you $500 cash!
When agents see these bold statements, many of them are paralyzed by fear and their limiting beliefs cause them to think that they could never make those claims.Â The first thought that comes to mind is, â€œWhat am I going to do if I donâ€™t sell the house in that time frame?Â I canâ€™t afford to sell houses for free and I certainly canâ€™t buy them myself, so this canâ€™t possibly work for me.â€
Hereâ€™s the thingâ€¦ Just as with the JoS A. Banks â€˜call to actionâ€™Â the perceived value is enormous and we as consumersÂ know and expectÂ some sort of restriction is going to apply. Â Itâ€™s these restrictions you put in place that are your protection and assurance to keep your client serious and motivatedÂ about selling their property.
Five Important Restrictions For Program Qualification
In order to qualify for whichever program you choose as your marketing message, these five restrictions must be explained to and met by the seller.
- The house must be appraised up frontâ€”The seller must pay for a licensed appraiser to establish a current appraised value for the property. An overpriced house doesnâ€™t qualify for these programs.
- The house must be professionally inspectedâ€”Any and all discrepancies listed on the report must be repaired or replaced as appropriate.
- The house must be professionally stagedâ€”homes that are staged sell faster than homes that arenâ€™t. In order to reduce the time on the market, it will be competing with model homes and therefore, should show like a model home.
- The mortgage must be currentâ€”this should be obvious, but it just doesnâ€™t make good business sense to guarantee a seller who is behind on payments, â€œYour home sold in 39 days or Iâ€™ll pay your mortgage until it sells!â€
- The seller must purchase a home through youâ€”again, this should be self-explanatory; you wouldnâ€™t want to take all the risk if they plan to use their sister as their buyerâ€™s agent for their next home.
Of course, you should practice explaining each of these restrictions before you use them in your listing presentation.Â If you are not comfortable with the delivery, the seller will sense it and your lack of confidence will kill your chances of conversion.
Once you have gone through each of them, you will find that many sellers are reluctant to jump through all the hoops required to qualify for the program.Â I always say, â€œMr. Seller, if I could net you an extra $30,000, but it took me an extra 50-60 days to sell the home, would it be worth the wait?â€
In my experience, the answer is always a resounding â€œYes!â€
To which I reply, â€œPerfect.Â The guarantee is not for you then, because that is for dead-serious sellers.Â I can put more money into your pocket, but â€˜program Bâ€™ is the way to do that.â€
So you see, most of the time the seller will choose not to utilize the guarantee, but without it, you would have never had the opportunity to meet with them and to establish a relationship where you can build rapport and trust.
Be bold.Â Use irresistible calls to action to get face time with those you havenâ€™t met.Â The agents who are doing so consistently are the ones we refer to as â€œthe 5%â€ who do 95% of the business in any market.Â Shouldnâ€™t that be you?