The Agent Mind Podcast
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This episode introduces a systematic approach to converting buyer leads, emphasizing the use of a customized flowchart based on the matchmaking system from Agent Rise Coaching.
The system has been successfully used for converting leads, especially for new agents joining the team.
Lead Handling and CRM:
- The discussion emphasizes the importance of using a Customer Relationship Management (CRM) system for lead organization and converting buyer leads.
The 5-4-1 System to Convert Buyer Leads:
- The host introduces the 5-4-1 system, focusing on the first five days of contact with a lead, where automated emails, texts, and phone calls are sent to establish initial communication.
- If there's no response within the initial five days, the subsequent four weeks involve less frequent contact – once a week.
- After four weeks, the approach shifts to a more extended, long-term campaign with occasional automated messages, maintaining a connection with the lead.
LP MAMA:
- The host introduces the LP MAMA acronym (Location, Price, Motivation, Agent, Money, Appointment) as a framework for gathering crucial information during the initial conversation with a lead.
- Explains the significance of getting the lead's search criteria, emphasizing the importance of a systematic approach to input this information into the CRM and convert buyer leads.
Matchmaker System:
- The Matchmaker System, proven to convert buyer leads, involves regularly searching for properties that match the lead's criteria and proactively reaching out to inform them about these on and off-market properties.
Buyer Consultation:
- The episode touches on the importance of the buyer consultation, providing insights into the process of explaining the home-buying process, sharing relevant documents, and building trust with potential buyers.
- The host suggests providing a buyer packet with a personalized letter, home buyer roadmap, testimonials, references, and a list of the agent's value propositions.
- It emphasizes the importance of discussing the buyer's agreement transparently, assuring the potential buyer that it is not a binding commitment.
DOWNLOAD THE BUYER LEAD CONVERSION FLOW CHART Now by joining the Real Estate Collaborative Network group on Facebook. Access the buyer flowchart in the “Files” tab.
To learn more about coaching and/or partnering with us, email TJ at tjmcgraw@theagentmind.com
