Latest / The Real Estate Agent Playbook / Buyers are Liars but you can build a business off of them!

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Buyers are Liars but you can build a business off of them! · The Real Estate Agent Playbook

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Wanna build a six figure income based on converting buyers, or want to take your
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six figure income to maybe 250 K a year.
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You can do that with my buyer strategies.
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Stay tuned and we'll tell you how.
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Chances are your broker, your team leader, limiting your growth.
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I'm here to help you with that.
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I have created a strategy for newer agents to come in, build buyer strategies,
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leverage those into listing strategies, and absolutely dominate your business.
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My name's Jeremy Kane with the Real Estate Agent Playbook.
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I absolutely love helping agents win at the game of real estate every day.
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Thank you so much for tuning in.
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Please share the podcast with your favorite real estate agent.
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We're helping grow that community as well as light, comment, subscribe if
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you're watching on the YouTube channel.
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If you're watching on the YouTube channel, check out the podcast and vice versa.
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I look forward to dropping in value in this episode.
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So let's get right into it.
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So let's, let's start a little bit about this and, and chances are your
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broker, your team lead are jamming one strategy down your throat.
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And this is something that I referenced earlier, but I definitely wanna kind of.
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Double click on because as, as a entrepreneur and a leader of many
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agents in my organization, it absolutely boggles my mind that people are jamming
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one strategy down all of these agents' throat limiting their potential as an
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agent contributing to the failure rate in real estate, which is absolutely
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what I'm here to help avoid and help reduce the failure rate and.
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Absolutely explode the success rate because I know how much money
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can be made in this business.
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I know how life-changing real estate can be, not only for clients, but for agents.
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And so if you're in that situation, there's nothing that I would like
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more than to have a conversation with you about leveling up your
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business and making that game.
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Plan.
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So first things first, leads are not business.
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We are constantly told, Hey, you need leads, leads, leads, leads.
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Okay?
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And that's where you get sucked into making the 200 calls a day, making the
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door knocking, you know, call rounds, you know, X amount of social media posts.
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Definitely share everything you're ever doing on social media, on your
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personal page, your business page, and.
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Your IG and all of those things.
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And the truth is, is that that's how some people build business,
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and that's okay and it may work.
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However, it's not how many people build their business.
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There is no team lead or.com that can provide you leads without costing
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you big time money to help you become a successful entrepreneur and
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create the financial freedom that you got into the business to create.
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Absolutely not possible.
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If you are getting shoved into a bucket or you feel like it's not
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necessarily, you know, catering to all of your strengths, then that's
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where a change needs to be made.
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I will tell you, a change does not need to be made in the leads that
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are given, the leads that are handed out or anything of that nature.
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A change needs to be made in your conversion.
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Okay, and what you're doing.
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And so let's go down the conversion rabbit hole a little bit here.
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So conversion is something that's often looked at, you know what,
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what's your sales strategy?
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A lot of sales calls and scripting and all of that.
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And the conversion really lies in putting yourself in contact with
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people that you are like-minded with.
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And you can help them make a life change by purchasing or selling real estate.
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And so when you put yourself in those shoes, it's a lot different than.
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Oh, I use this sales script, or I use this strategy to trick
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them into becoming clients.
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And now here we are.
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Now we have a client, maybe they're not as ready or they're
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not as educated, but it's a lead.
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It took a conversation and now eventually they'll turn into a transaction.
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All these leads, everything is based on conversion statistics and all of that.
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If you're, you know, not dialing 200 times a day, you're not gonna
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get that one or two possible lead.
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And you know, you have to be good at it.
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You have to practice, you have to get the scripts to get
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that one lead over the hump.
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I'm here to take that, you know, less than 1% conversion rate
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and have every conversation turn into a potential off option.
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And you know, certainly it doesn't happen just on the phone talking to strangers.
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Absolutely a great way to build business if you're dedicated and
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that aligns with your personality, your disc profile, whatever.
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Some people are great at it.
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Some people have built a great business doing so, but it's not just dialing
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these random leads and not having any conversion strategy behind it.
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So here it is, my secret.
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You may have heard it before.
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It's the scouting trip and a lot of people misrepresent this.
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Every single agent, including those agents, those team leads, those brokers.
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They will tell you, don't put anyone in your car, so to speak.
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That's an old term cuz now with covid and car seats and all the things, we don't
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necessarily always have people in the car.
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I will tell you, it's still a great opportunity when people are in your car to
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have conversation and build that rapport.
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So don't completely get that strategy out.
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However, Putting people in your car before they're pre-approved is like,
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send number one as a real estate agent.
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Well, I'm here to tell you that's probably the best way for you to change your
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conversion and build those relationships and build lifelong relationships that can
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turn into, you know, hundreds of thousands of dollars in commission at some point.
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Based on how, how we go about this.
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So first things first, we need to take a step back.
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If you know no one.
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Right.
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I get that a lot, Jeremy.
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I don't have any network.
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I don't know anyone.
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So take a step back.
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You're gonna find everybody that you do know, right?
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Or that's in your phone, or that you meet at the dog park or whatever.
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We're gonna take that.
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We're gonna absolutely convert.
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So first we're gonna start off with people with jobs and people
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that have jobs that are living on their own, paying their own bills.
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Those are probably the most likely people that could be your original home buyers.
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So, If you know no one and you have no conversations, that's your mission.
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Okay?
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We're gonna try and find people who are renting and have jobs.
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Okay?
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Where are we gonna find those people?
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All kinds of networking events.
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You could go out to dinner, you could join any sort of group.
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You could go to the dog park, you could go anywhere you want, right?
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To find these people that are renting apartment complexes, whatever.
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Don't be the creeper that's just hanging out, being like,
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Hey, do you, do you have a job?
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Don't do that, but you get my point.
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Go through your phone, go through the people you talk to.
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And find those people that are renting that have jobs.
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Okay.
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Now build those relationships.
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Hey, I'm a newer real estate agent.
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I'm taking people out just to see houses.
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Is that something that you might be interested in?
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Maybe, you know, one day you can buy a home, okay?
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Have that conversation.
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Put 'em in the car, so to speak, and get 'em out.
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Here's the rules.
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I I pick four homes in four different neighborhoods, depending on their
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warmth as far as, yeah, I'd be open, I'd love to buy a house,
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if it would be possible someday.
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Great.
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Cool.
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Or I, I'm not interested in buying a home, but I'll go look at houses with you.
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Whatever that is, that's still a potential, right?
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So we're gonna take him out.
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The goal would be to start to have the conversations about
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what the buying process looks like, what, what comes first?
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First we find a house, then we put an offer in, then we get under contract,
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then we get an inspection, then we have an appraisal, and then we have,
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you know, loan conditions, and then we close, and then you move in.
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Great.
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You know, obviously you're gonna go through each step, show that you
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provide value, that you understand what you're doing throughout these showings.
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Now some agents are like, Jeremy, I'm just worried about getting
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the lockbox, making sure that the kids aren't jumping on the bed.
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All of the things, all of those things come into play as an agent.
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You are getting experience just showing houses, having real estate
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conversations, and there's not a lot of high pressure because.
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This person isn't even a buyer yet.
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And so you have have the ability to have these conversations.
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They're asking you questions about the house that you can
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answer or find the answer to.
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You're starting to develop, a system as far as showing homes
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and, and doing that right.
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And the whole process here is to maybe take some notes on things
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that are pain points for them.
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Maybe find pain points like, oh, I hate my apartment because the, the guy
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above me wakes up at 5:00 AM and he must weigh a thousand pounds cuz he
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has heavy feet and you know, whatever.
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So you find those pain points and then you can address them later.
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So take notes, have people talk about what they like, what they don't like.
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Whatever, you'll use those notes to your advantage when
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they call you to buy a home.
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In the process, you're also showing your value as far as understanding
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the process, understanding the system, and going from there.
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Chances are their emotion will be high.
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They're gonna have positive emotion.
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People like looking at houses.
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Don't show 'em a bunch of dumps, and I'll talk about the, the, you know,
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red flags and things not to do later.
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But, they'll have that emotional piece and you will have an opportunity
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to say, Hey, you know, this could be possible sooner than later.
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There's down payment assistance programs.
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There's, you know, all kinds of things that are put in place.
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Would you be open to a conversation with my trusted lending partner?
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Right?
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If you get to that point, you can make that close.
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All of a sudden, you have just taken that person from wherever they were before
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into like, okay, this could be possible.
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Believing in them.
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Being a part of their journey, connecting them with somebody who
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can give 'em hundreds of thousands of dollars to make this happen, or
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at least help them get prepared.
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And now they're much more likely to do that, right?
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First.
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Conversely, when you're talking to somebody and you're like,
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okay, well you know, you, you might wanna buy a house someday.
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Here, call this lender.
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They'll, they'll, it'll be great.
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They'll ask you if you have back child support.
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They'll ask you if, why you didn't pay that credit card?
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They'll ask you why you got evicted.
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You know, that's not what people like to raise their hand and say.
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All of a sudden they're like, okay, this is the dream.
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This is the reality.
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I can actually purchase a home someday.
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Let's figure out why.
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Let's talk to this person.
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Even though I don't have $1 in the bank to do this.
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Let's talk to this person and have them help me, coach me, because Jeremy
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just gave me, you know, some of his time to help me understand the process,
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and now I understand the process.
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So I'm sure that this person can help me get there faster.
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Right?
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So you're getting 'em over to your lender now.
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The ball's rolling.
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Now all of a sudden they get a gift.
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Now all of a sudden they're a buyer in one to two months.
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Or maybe they're not.
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Right.
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And maybe they don't ever buy a home from you, but the positiveness of that
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experience, the two to three to four hours that you spend with them one time
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is, is absolutely key because they, when people start talking about, you know,
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Hey, I'm gonna buy a home this year.
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Hey, I'm gonna do this.
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Hey, call Jeremy.
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Like he'll, he'll walk you through the process.
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He is very knowledgeable of what's going on.
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He can connect you with the right people.
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He'll actually ask you what you're looking for in a home and so on.
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So, and then the cool part is once they do come back after a scouting trip, then
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you have notes on what they want, right?
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And you can.
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You make adjustments, say all of a sudden they're married and you
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know, have kids and they didn't before, but you have those notes.
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Hey, you know, back, back a year ago when we were looking at houses, you were really
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susceptible to the road noise, right?
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Is that still a thing?
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Oh, you absolutely needed a two-car garage.
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Well, your car broke down.
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You don't have that car anymore, so do you need a two car garage still?
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Or just the one, or, you know, whatever that may be.
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We, you didn't care about schools before, but now you have.
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Have a kid, like, are you gonna be in this home for the six years,
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you know, with the kid while they're, you know, whatever it is.
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And you're kind of future pacing them to be a client again
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before they're even a client.
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So you have that basis.
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And the biggest thing I hear is, oh, you know, buyers, I, I have to show 'em 60,
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70 houses before, you know, whatever.
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Well now I have this, this guideline and maybe I have to update it.
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Maybe if there's another person, another decision maker involved, we do it again.
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But then I can say, okay, well you wanna see these five houses?
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Well, this one backs to the interstate.
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This one is across the street from an elementary school.
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You didn't want that, and this one is whatever.
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So now you're only looking at two houses and you're narrowing down
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houses before you even get there.
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I can't tell you how many times in my career I've walked into a house and
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they're like, Nope, this isn't it.
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By something I could have figured out if I had the notes, had I had
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the time to look at the listing and, and actually listen to what they're.
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Their deal was, you know, the big one is the major street.
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Right?
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You see a beautiful home.
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It's freshly remodeled.
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It's been on the market.
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Curb appeal's great.
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You don't click the button to look at the map and it's right on the interstate.
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Right?
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That's a huge one.
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If you have a little bit of time to preliminary weed out the ones that are
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absolutely not, because you have this information and you've been in the homes
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and you've asked them to talk out loud about what they like and don't like,
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then you're saving a ton of time by just.
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Going across town, running across town to look at that listing that they absolutely
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have to see today if you know, they absolutely wouldn't be interested in it.
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So you can use this three to four hours to gain experience, to gain understanding of
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what these people are looking for and to.
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Get them excited about purchasing a home or the potential of purchasing a home.
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Now all of a sudden you're like, okay, well that wasn't a waste of time, right?
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This person's now referred me, two or three people because of this
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process, because I took this time.
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And if they don't, you're getting a access to homes.
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You're learning how to show, you're learning how to have these
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conversations in a low stress environment as a new agent.
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So that scouting trip is huge.
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you can also talk a lot about, you know, Deal with objection handling.
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Cause I don't have enough money to buy my credit's.
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Terrible, right?
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How you react to that and how you frame the answers to those questions, make the
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conversion a little bit different, right?
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And so now all of a sudden you're at a happy hour and someone's like,
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yeah, I would love to buy, but you know, I, I have some bad credit.
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Oh, well, you know, this happened with one of these people and I connected
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'em with this, and they got 'em.
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They got 'em pre-approved within six months.
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Like, have you tried that?
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Have you thought about that?
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Some people, you're just not gonna be able to help.
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Some people aren't financially ready to buy a home, but if you
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have the the words to say and the responses, To handle those objections.
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The more practice you get, the more at bats you get with those
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conversations, which you absolutely will have with these people.
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You, the better you are at your job, the more conversions you have down the road.
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And so it's about taking at bats.
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Absolutely.
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Okay, so a couple cautions, right?
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Everyone's excited.
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They're ready to go do this.
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They're ready to go.
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You have to limit it four houses one day, and then they have
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to get pre-approved, right?
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You can't show people 20, 30 houses without having a good
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idea of the financial piece.
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If they don't have the money to buy the house, then you're in trouble.
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The next caution is don't show them houses that are completely
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out of their price range.
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If you're dealing with renters and tenants and things like
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that, show them the average first time home price in your area.
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Cuz the last thing you want to do is show 'em something super nice and
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then they can only qualify for this and their expectations are too high.
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Well, you say, well what if their expectations are, you know, they can't
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afford that first time home buyer price.
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Well, if they can't afford the first time home buyer price,
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they're getting the experience.
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But you're.
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Probably utilizing that to connect with people into their group
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that are gonna be home buyers.
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And so you don't want to knock it out of the park.
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You also don't wanna show 'em the, the shanties of the, you know, that
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are only flips, no loans, all of that.
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So find something that's reasonable based on where they're at in life.
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You could use a mortgage calculator to say, okay, like, what's your rent?
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Let's see what you know, to keep it as close to your rent as possible.
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Let's see what that price point is, and then you can, you know,
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base your decisions off of there.
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Don't show them a bunch of the same house, don't show 'em townhouses
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in the same complex or all of that.
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Because it's just about getting an idea for what they want and what they like.
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Also, if you're showing 'em four townhouses in the same
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complex, it's likely either they love 'em or they hate 'em.
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Right?
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If they hate 'em, you're not able to have conversation and it limits conversations
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like this was a waste of time.
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So you wanna show 'em different things, different options, different areas.
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Cuz I don't know how many times they've been like, oh well you
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know, it's an extra five minutes.
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I can do that.
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Or, you know, there's six ways to get to work.
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So yeah, it's a 30 minute commute, but I can probably, I.
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Make it a 30 minute commute, even though, you know there might be an
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accident on the interstate or whatever.
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So you, you wanna get a little bit, , Creative there and not
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have the same house, the same style house, the same anything.
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Really if you can have four unique properties in that price point being the,
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the one commonality, that would be ideal.
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So that's, that's that piece.
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The next thing is make sure that you're, you know, taking notes,
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you're open, you're not kind of overbearing on it because you want
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the experience to be great for them.
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And you want them to kind of lead the ship.
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You want them to ask questions, so you get those at bats.
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And so the other thing is make sure that you're safe, right?
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I don't want you to go into a bunch of houses with a bunch of
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strangers that you don't know.
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If you don't know them, maybe you go, you know, maybe you
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break it into two different days.
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You meet 'em at.
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You know, a coffee shop or whatever, but your safety is of utmost importance.
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Don't take a bunch of strangers in the houses, and, and that kind of stuff.
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So make sure you're, you're, have that at the top of your mind, as a new agent.
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In conclusion, here, we're talking a lot about, you know, new agents.
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You need to be doing these income producing activities.
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You need to dial, you need to be doorknob, you need to be doing all these things.
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But we're not really focused on the conversion skills and putting ourselves
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in position to have conversations about real estate outside of the script.
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And so this strategy is absolutely antis script, right?
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You still have your things, you have your one-liners, but the ability
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to have that open conversation in a more, much more comfortable
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environment than on the telephone.
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Allows you to have some diversity in what people are asking, what people are, are
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saying to you in order to be better at it.
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So as always, Jeremy Kane like, comment, subscribe, helping agents win every
17:22
single day at the game of real estate.
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Share this podcast with any real estate agent that you think it might help.
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And please like, comment, subscribe on YouTube.
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We'll check you later.
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Bye-bye.