Yes, we're going to be talking about scripts and dialogues. There's a lot of controversy and all these other types of negative connotations around scripts and dialogues, but I'm here to vouch for them and be their advocate because they really are pretty game-changing when you implement them the proper way. So what is a script? A script is basically a roadmap to achieve a certain outcome. So you have to first identify your outcome, but more than that a script is a dialogue around that roadmap, "Like how are we going to get to the outcome?", "How are we going to figure out where we need to be in order to make that happen?" and that's basically what a script is. It's just a series or a system of dialogues that get used over and over again and scripts the best ones they kind of develop themselves after you have a transaction. In this case, real estate or in any type of realm, like a script will develop itself. In software engineering, they call it scripts: you run a script to fulfill whatever the purpose of the machine is.
Kanor:
So why should you use a script? Well, in real estate you should use a script to qualify your prospect. If you find out that your prospect is really not qualified, well then not only are you misappropriating your time, but you might be misusing their time as well. So if you have a script in order to identify the qualification that's going to help you to save time. It's also going to make you look more professional if you have a script in place, your script shouldn't be so well-honed that it doesn't sound like a script.
Kanor:
If it sounds like you're reading a piece of paper, I would argue you're not using your script the best way possible. So when you use a script correctly you sound professional because you're talking well and you've used the script before so there's an air of familiarity with your script. At the end of the day, you should use this script to improve your systems, which is just to streamline the process. So how should you put a script together? First of all, you have to understand a process and kind of define that process and the next step should be to figure out how to streamline that process. After you've thought about and put some time into that streamlining process, you should put a dialogue around the process, that's essentially what a script is. So they develop themselves, it's like you go hiking in the woods and you find a trail.
Kanor:
It's like, well other people have used this trail before others, you've said these things before, just organize them and put them into a script. Here's an example of a script for a prospective home buyer. On the left, we have a very famous LPMAMA, which stands for, location, price, mortgage agent motivation, and appointments. This type of script is typically used for, the first conversation that you have with a prospective home buyer and a lot of times these conversations happen over text, over a phone call or maybe a referral from a friend. Essentially it's the first conversation you have and the main goal you should have with this type of interaction is to set an appointment, which is the last A of LPMAMA.
Kanor:
So we need to find out a few things in order to get to the appointments asking stage. Those are defined as: "Where are they looking?", "What location are they looking in?", "Which price are they looking to buy at?", "Will they need to borrow money in order to buy their new home?", or "Are they a cash buyer?", so "What kind of terms are they going to be looking for?". A very important question that gets missed a lot is, "Are they already working with an agent?" if they're already working with an agent and their agents, their sister, I mean good luck getting that person to work with you if you're a [inaudible 00:04:43] agent, go for it but why miss appropriate your time. Then, of course, why, "What's their motivation?", "Why are they wanting to buy a new home?". So once you have defined those questions, the script, it might look a little bit undocumented in this case, but you have a system through which you can have these conversations.
Kanor:
After you've asked someone, "Hey, where are you looking?", "What are you kind of looking to spend per month?" to give you an idea of what their overall price for the house might look like. "Are you going to need a mortgage?", "Do you have the cash to buy the home with?", or "What does that look like for you?", "Are you working with an agent already?", or "How are you looking at homes right now?", and "Why are you looking to buy a house?". Letting them go through those entire systems of questions and then it becomes very natural to say, "Hey, I think it'd be great if we could sit down and have a cup of coffee and I could learn a little bit more about what you're looking for and see if I'd be able to help you." and that's just a very basic script for a prospective home buyer. Essentially a script should be the straightest line possible. If you had an ideal client, the script should be the fastest way to take them through the transaction and that's how you should organize your script.
Kanor:
Does anybody have any questions?
Jacob:
Kanor, do you have a script for people when they call into the 72nd?
Kanor:
I have a script for unpacking the leads once they have.
Kanor:
Yeah.
Speaker 4:
What would you say is the most common kind of roadblock or objection you see with potential homebuyers in the script? Say they say, "I think I'm working with an agent already." What do you go to then?
Kanor:
That was a great question! Well, you got to realize whether the objection is an objection, like a red light objection, "Hey look, I'm broke." Well that's probably not been worked out or if it's a stall, "I need to talk to my wife before I do anything.", or if it's more conditional, "I'd be willing to look at homes, if I'm moving to Portland.", and then lastly, my favorite if they're just complaining about something. If they're just complaining about something, just like agree with them and move on. Don't treat it like an objection just discounted. So depending on if they're complaining, like red light objecting, if it's conditional or if it's just a stall, you'll treat it differently.
Kanor:
But if they say they're working with an agent, then it's okay. The next question, you need to have just a series of questions, and that just comes with practice. So the next one is, "Are you working with an agent?" right now have you sign any paperwork yet? "No." Okay. Well, I'd love to sit down with you and see if I can help you. If they haven't signed any paperwork. No. "It's like is that your girlfriend?", I don't see a ring on her finger. [crosstalk 00:07:46] It's just continuing to ask questions is the best way to stave off objections. Whoever's asking the questions genuinely is in control.
Jacob:
Regarding the "I already have an agent.", I usually try to work in the conversation "What's your agents' name?" maybe I know that person because I actually tell my friend that like to go to open houses and things like that to have my business card or at least like give them my name because they have a quick thing that they can say "Oh yeah, I have an agent his name is Jacob [inaudible 00:08:26] whose done 10 properties.", and that just kind of shuts people down. Whereas a lot of people just say, "Oh, I have an agent." because they get a lot of these calls and they just don't want to talk to you. So just having something as quick as that, all right, great! "What's the agent's name?" and then kind of moving forward from there.
Male Speaker 2:
And even more, so putting yourself in a position of power. You say "I know a lot of people because I'm well known." or "I've done a lot of transaction I might know your agent, what is his name?". But if you prove it with the probability that you'd know them is because you've done so much work. Then
Jacob:
Yeah.
Male Speaker 2:
it builds yourself up in their eyes.
Speaker 4:
Yeah.
Male Speaker 2:
Psychology thing.
Jacob:
Yeah absolutely.
Male Speaker 2:
Well, cool. I had a question on objections as well. What was it? It was for the complaining objection. What's an example of a common complaint and how would you combat that?
Kanor:
"This house is really expensive!" Yeah, you knew it was expensive before we got here. [crosstalk 00:09:36].
Male Speaker 2:
All right. [crosstalk 00:09:43] Just, yeah. You know, it's expensive or [inaudible 00:09:48]. People just like to complain a bit and they just want to feel heard. I think at the end of the day.
Kanor:
It's practicing empathy.
Male Speaker 2:
Yeah.
Kanor:
You know, finding commonalities. The more that you can have in common with a person, the more apt they're to like you. So they're complaining about something, complain about them or acknowledge the complaint.
Speaker 4:
Yeah.
Male Speaker 2:
Yeah, that's a great point. You can always relate a situation that you've gone through that similar.
Kanor:
Yup.
Male Speaker 2:
Oh man, I remember when I bought my first house I thought it was so expensive.
Kanor:
Yup. That's exactly right.
Male Speaker 2:
But I'm glad I bought it.
Kanor:
Yeah, there you go. [inaudible 00:10:30]. Yup.
Male Speaker 2:
So I think honestly, I think the price is the number one thing that people complained about.
Kanor:
Yeah.
Male Speaker 2:
Unless it's truly out of their price range, but if you know it's not out of their price range and they're thinking it's expensive, they're just complaining.
Kanor:
All right.
Male Speaker 2:
It's not, that's not to say that you don't want to get your client the best deal possible, but at the same time you have a wealth of experience in the market and you should know the market price for whatever you're looking for at that time. And then sometimes just making someone aware that you do have that knowledge is why it's priced that way. It's not just, we know it's expensive. Yeah.
Kanor:
If they say that they don't think they can afford it are you immediately throwing out that you have lenders that
Male Speaker 2:
Yeah, I would definitely bring the lender into the equation. We have great lenders! You know, we trust them. We do share a relationship with them. Let's just see what the lender said they're not going to write a loan on something that they don't think you can afford let's see what they think.
Kanor:
We're past those days, 2008, 2009 they'd write a loan to anyone, no stated income, anything like that. Laws have gotten so strict now like if you qualify for a loan, they'll only let you qualify for what you actually can do.
Male Speaker 2:
Yeah.
Kanor:
It's so easy now they don't let you think about it.
Male Speaker 2:
Yeah.
Speaker 4:
That was a good question.
Male Speaker 2:
Cool.
Kanor:
Good work!
Speaker 4:
I like the slides very basic. [inaudible 00:12:12] If I was a betting man, I'd say you put that.