Seems odd to tell students to break the rules, right? Well, here’s their case. Students hardly feel motivated when they’re faced with hundreds of rules dictating their sentence structure and word choice. There’s no freedom!
In real estate, homebuyers can have the same feelings. How much can I afford? and How’s the market doing today? are the two most prevalent questions they always ask. Sometimes, the answers to those questions can make leads feel constricted — Oh, I can only afford this … hmmm and So, right now isn’t a good time to buy a house?
More often than not, to get real estate leads motivated, all you have to do is answer those two questions. The only catch is, you have to build context around your response. Let me explain …
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People Crave Reasoning
Because … When people understand the “why,” they start to understand your perspective. Some may even put their feet in your shoes, metaphorically of course. What you create is empathy. And the one word to help you is: Because.
No other word holds such persuasive power. Consider these two options:
I need your help. Can you come into the office and call my leads?
I need your help. My son is sick today and I have to take him to the doctor. I don’t want to fall behind on calling my leads, so could you help me call a few? You would be a lifesaver!
Which version would you be more likely to help? Option A or Option B? I bet you chose the second one. And the reason is because I told you the “why” — because my son is sick today. When you understand the other person’s reasoning, you suddenly become 10x more likely to help … or in our case, act.
Getting real estate leads to act starts with reasoning. Understanding the problem motivates homebuyers. They know what they’re up against and you’ve set the right expectations. Remember, we’re answering the two fundamental questions:
- How much home can I afford?
- How is the market doing today?
Support Your Reasoning with Facts (or Data)
Homebuyers and sellers have a handful of information at their fingertips. All it takes is a quick Google search. But if you’ve ever looked at a spreadsheet of numbers, you know they don’t always make sense without context. This is where you, the real estate agent come in. What Steve Harney, CEO of Keeping Current Matters, suggests is: You have to connect the dots.
There’s so much data out there … and at KCM we like to call them dots. There’s dots all over the place and people get confused by them. Great real estate agents don’t give consumers more dots. They connect those dots. They bring insight to that data. So, now a family, whether they’re buying or selling, can feel secure and confident in their real estate decision. They now know it’s the right decision.
Here’s the important note from Steve Harney: When we say “Show them the data!” It doesn’t mean shoot a bunch of numbers and stats. Your role is to translate it. Make it understandable and provide a clear road for consumers to act on.
Consider these two emails:
The average price point in Charleston, SC is $375,000. Right now, we have an inventory of 3 months and a volatile absorption rate. The homes you’ve looked at have been on the market for 5 days, so I’d suggest to act now, if you’re ready to buy.
I noticed from your account activity, you’ve been looking at homes in Charleston, SC for around $300k. Is that correct?
Before you start seeing houses, I wanted to share some market insights. Right now, conditions are keeping the average price point a little high. But as I’m looking into the data, I’m noticing how Charleston is in the middle of a “real estate bubble” – meaning, the bubble is due to burst in a couple months and prices will drop.
This is a huge opportunity if you’re looking to grab a great home for a great price. Obviously, there will be other buyers who will see this as well and will probably compete against you. That’s why I want to propose a solution: Let’s get all the paperwork set up, and get you pre-approved. That way, we can act faster than the other buyers.
What do you say? Want to schedule a time to talk? I’m free this Saturday at 10 am.
Do you see the difference in the emails? Which one motivated you more? By connecting the dots between data and what the buyer wants (a good price), you’ve convinced them now is the time to act. Therefore, they’re more likely to respond.
Give them the “why” and suddenly they trust you. Back it up with data and they believe you. Now, they can put themselves into the “situation” you’ve outlined. Now, they know what road to take.
Tactic: Invoke FOMO (Fear of Missing Out)
The brain may be logical, but the heart (i.e. emotions) is what moves us. A study done by the Wharton School of UPenn discovered news headlines that invoke emotions receive more engagement from readers. In fact, the sense of loss or fear drove the highest engagement.
If you’re looking to get homebuyers (or sellers) to act, then show them what they’re missing out on if they don’t decide now. If now isn’t the right time to act, emphasize how proper planning can give them the upper edge … for when they do decide to act.
Don’t tackle them, but put them on the defensive. They’ll be more likely to respond. The catch-22 is you can’t be salesy. If you come off like you’re trying to make a hard sale, like “It’s a great time to buy! Buy now!” you’ll have the opposite effect. Be human. Be conversational. Provide the “why” and the data behind it.
Motivation in Email
Like the ESL teachers before us, ignore trying to be perfect. Just write down what you want to say; then revise and edit. Even Stephen King employs this writing method. If you’re answering the questions your real estate leads have, you’ve already got one leg up. Now, paint a picture of the market and guide them in the right action to take.