Dissecting Real Estate Prospecting Call Scripts

When engaging any sales prospect, especially in real estate, it helps to adhere to the “70/30” rule: let the other person do 70% of the talking. In other words, you don’t want to drone on endlessly about your real estate knowledge and experience. Choose your words wisely and strategically.One of the best ways to encourage your prospect to do most of the talking is by mastering the use of real estate prospecting call scripts, and especially the art of asking effective questions. This post will cover the basics of using questions to find success in lead generation real estate.

Why It’s Important To Guide The Dialogue In Real Estate Prospecting?

We don’t ask questions for the sake of asking questions. We ask questions to encourage dialogue and to uncover our prospect’s motivations, goals, and desires.Let’s look at why controlling the dialogue is essential for real estate lead generation success:

• Listen actively: Pay close attention to your client’s responses. This shows that you value their input and helps you tailor your approach based on their needs.
• Prioritize needs and wants: Understand the difference between essential criteria and preferences. Prioritize questions that help identify non-negotiable factors versus nice-to-haves.
• Build rapport with personal questions: While maintaining professionalism, asking personal questions can help you connect with clients on a more personal level. For example:
• Clarify and confirm information: Repeat back important details to ensure you've understood correctly. This demonstrates your commitment to meeting their needs accurately.
• Use hypothetical scenarios: Presenting hypothetical situations can help gauge how your clients might respond to various real estate scenarios. For instance: “How would you feel about a property with a smaller backyard but a larger living space?”
• Explore past experiences: Understanding their previous experiences in real estate transactions can provide valuable insights into their expectations and concerns.
• Timing and phrasing: Be mindful of when and how you ask questions. Avoid bombarding clients with too many questions at once. Instead, integrate them naturally into the conversation.
• Educate as you inquire: Provide relevant information about the market or the buying/selling process as you ask questions. This positions you as a knowledgeable and helpful resource.
• Follow-up questions: When appropriate, delve deeper into specific aspects of their responses. This demonstrates a genuine interest in understanding their unique requirements.

Remember, effective questioning is a dynamic process that evolves throughout your interactions with clients. It requires adaptability and a keen awareness of the individual's priorities and preferences.

Types Of Questions For Effective Real Estate Lead Generation

Below are some of the basic question types with examples:

• Closed-ended questions look for a simple, straightforward answer, often yes or no. These are OK in some situations. But generally, you’ll want to move away from closed-ended questions as they do not drive dialogue:
  • Did you qualify for a loan?
  • Do you want me to list your home?
• Open-ended questions require thought and consideration and are great for drivers and analytics because it forces them to engage a little more. Also, open-ended questions force you to listen more carefully:
  • What are you looking for in an agent?
  • Where do you plan to move to?
  • How much/what percentage of a down payment do you have?
  • What is your decision-making process?
  • Why do you feel your home is worth more than your neighbors?
• Specific questions push the prospect to expand on previous answers. These questions take a more aggressive tact for you to guide the conversation:
  • Are you looking for an aggressive agent?
  • What type of loan are you applying for?
  • What are the reasons you’d like to sell it on your own?
• Multiple-choice questions limit the prospects’ responses and are great for expressives because they like to make their own choices.
  • Is today at three or tomorrow better for you?
  • Do you feel the market is increasing or declining?

Learn to control the pace and direction of a conversation by asking effective questions. And as you master the art of using questions to create an effective dialogue with your prospects, you'll notice that your follow-up efforts are paying huge dividends.Next, we will look at sample questions you might use when working with the two most common types of real estate prospects: Expired listings and For Sale by Owner (FSBO).

Expired Listing Questions

As an industry leader in providing EXPIRED LISTING LEADS FOR REAL ESTATE, Espresso Agent understands that expireds play an essential role in the prospecting portfolio of all top-producing agents. Expired leads can be low-hanging fruit because these are the homeowners who are often motivated to sell their homes quickly. Our post PROSPECTING REAL ESTATE EXPIRED LISTING LEADS provides some excellent insights on how to work with homeowners who failed to sell with another agent. However, these may also be homeowners who are frustrated or even angry because their homes did not sell. As such, your questions need to be focused on uncovering crucial information about their previous experience. Here are a few examples:Open-Ended Questions:

• Can you share your experience during the previous listing period?\
• What aspects of the previous listing do you feel were successful, and where do you think there could be improvements?

Feedback Questions:

• Did you receive any specific feedback from potential buyers during the previous listing?
• Were there any common concerns or objections that prospective buyers raised?

Market Perception:

• How do you feel the market has changed since your property was last listed?
• Are you aware of any shifts in buyer preferences or market trends that might affect your property?

Pricing Strategy:

• What were your thoughts on the initial listing price, and do you think it accurately reflected the market value?
• Have you considered any adjustments to the pricing strategy based on recent market developments?

Motivation and Timeline:

• Has anything changed in your personal or financial situation that might impact your motivation to sell?
• Do you have a specific timeline or deadline for selling your property?

Marketing Approach:

• How satisfied were you with the marketing efforts during the previous listing?
• Are there any specific marketing channels or strategies you want to explore now?

Property Presentation:

• Have there been any changes or updates to the property since the last listing that potential buyers should be aware of?
• Is there anything about the property that you feel could be highlighted differently to attract more interest?

Agent-Client Communication:

• What communication style and frequency do you prefer with your real estate agent?
• Is there anything specific you would like to see in terms of updates and reports during the selling process?

Competitive Analysis:

• Have you had a chance to review the current competition in the market, and how do you see your property standing out?
• Are there specific features or amenities you believe differentiate your property from others?

Future Plans:

• How does selling your property align with your future plans?
• Have there been any changes in your goals or expectations since the previous listing?

These are a few examples of questions that can foster a constructive dialogue, address concerns, and collaboratively develop a new strategy for a successful relisting. It's essential to approach the conversation with a positive and solution-oriented mindset.

FSBO Questions

REAL ESTATE FSBO LEADS are also an excellent source of business for any real estate agent. However, unlike expireds, who may be anxious, frustrated, or impatient, working with FSBO homeowners requires a more nuanced approach. You might find this post on 14 FSBO OBJECTIONS REAL ESTATE AGENTS MAY FACE helpful in providing context for FSBOs.In the meantime, here are examples of questions that might help as you engage a FSBO prospect:Motivation and Goals:

• What motivated you to sell your property on your own?
• What specific goals do you have for the sale of your home?

Experience with FSBO:

• Have you sold a property on your own before, or is this your first FSBO attempt?
• What has been your experience with the FSBO process so far?

Market Understanding:

• How would you describe your understanding of the current real estate market in this area?
• Have you researched recent sales and market trends in your neighborhood?

Pricing Strategy:

• How did you arrive at the current listing price, and how does it compare to recent comparable sales?
• Are you open to adjusting the price based on market feedback?

Marketing and Exposure:

• What marketing strategies are you currently using to promote your property?
• Have you considered online platforms, social media, or other channels to increase exposure?

Showings and Open Houses:

• How are you handling property showings and open houses?
• Are there any challenges or concerns you've encountered during these events?

Legal and Paperwork:

• Are you comfortable handling a real estate transaction's legal aspects and paperwork?
• Have you sought legal advice to ensure compliance with local regulations?

Negotiation and Offers:

• How do you plan to handle negotiations with potential buyers?
• Are you prepared to review and respond to offers, and do you feel confident in your negotiation skills?

Timeframe and Flexibility:

• What is your desired timeframe for selling the property?
• Are you open to adjusting your timeline based on market conditions or buyer interest?

Perceived Challenges:

• What challenges or obstacles do you anticipate in the FSBO process?
• Is there anything you find particularly challenging or stressful about selling your property on your own?

Professional Assistance:

• Have you considered the benefits of working with a real estate professional, and would you be open to discussing how I could assist you?
• Are there specific aspects of the process where professional guidance could be valuable?

Learning to use questions to guide and control a dialogue with a prospect is a skill that can enormously impact your revenue.

Bonus Content

Learning how to ask great questions while real estate prospecting is part of a larger strategy of employing real estate scripts to control the flow of every conversation you have with a potential client.We’ve blogged extensively about leveraging the power of scripts, including this helpful post: 5 TIPS TO MASTER REAL ESTATE PROSPECTING SCRIPTS You can also gain valuable insights from the industry’s top coaches, and advocates of using real estate scripts:

• TOM FERRY: 3 APPOINTMENT SETTING SCRIPTS
• JACKIE KRAVITZ: DOWNLOAD HER FREE SCRIPT BOOK HERE

The Espresso Agent Difference

Of course, regardless of how good you are at asking the right questions, it won’t matter unless you find the right prospects to whom you can ask those great questions. That’s where Espresso Agent comes in. Our industry-leading real estate lead generation and CRM system can get you to the right prospects using the best contact information in the business. At that point, you can begin to put your question-asking skills to the test.Contact Us to learn more about Espresso Agent.