The Desperate Agent Model

Too many Agents operate with Buyers from a desperation or scarcity mindset. They use the four-step desperate agent model, applying it over and over again, hoping that the odds will miraculously shift in their favor at some point.

1. Talk to the prospect with the goal of establishing rapport.

Too often, we think that if we keep the prospect on the phone longer and find common ground or common ground, we can secure their business. We feel that if they like us or think we’re nice, we increase the likelihood of a sale. We want to keep them on the phone long enough to secure their phone number so we can follow up with them. Our goal as a desperate agent is to secure a lead. The focus of a Champion Agent is not to secure the lead but to secure the appointment. Lead is of limited value; the quote has significant value.

2. Offer to send the prospect…stuff

The average agent wants a phone number and email address so they can send information to the prospect. There’s nothing wrong with acquiring a prospect’s complete contact information. The problem arises when that is our main objective, instead of getting an appointment. When emailing properties to them becomes our “be all, end all” way of prospect conversion, we’ve lost the sales game. The conversion rate of an email contact decreases significantly compared to a face-to-face contact or even by phone.

The use of lead matching software for Buyers is so overused that the perceived value to the consumer is negligible. It is not an exclusive feature of any agent in the market. We often use this great tool to make up for our lack of phone contact.

There is no substitute for the call. I worked with a dynamic young couple in the Atlanta area. They are effective internet marketers. They had about 300 potential customers to whom they even had phone numbers. These 300 potential customers were getting information on property matches based on their preferences as homes came on the market. They produced a couple of deals a month from this internet strategy.

When I started working with them, I asked them why they hadn’t called the 300 people they were “working” with. They said, “We get a few deals a month on this, why bother?” I told them to call the 300 in the next week. They called 79 and reached 39 people at their home. Of those 39 with whom they spoke, they scheduled 16 face-to-face presentations. That’s a 41% closing ratio. They had conducted 11 face-to-face interviews with buyers while committing 7 to a buyers agency contract. That’s a 64% close ratio. They had already sold two houses but hoped to sell several more in the coming weeks. They ended up selling six houses in the next 30 days from their 7 clients, 11 appointments, and 39 leads. They also found that out of the 40 people they tried to contact for a few weeks, when they finally did get in touch, they had already bought and sold with another Agent.

The sales stuff shipping philosophy cost these Agents over six figures in commissions on the Buyer side alone. When they booked the appointments, the probability of their income, and indeed their actual income, skyrocketed.

3. I hope your stuff is better than the other five Agents who are sending you stuff.

Unless you can clearly prove and show that your marketing materials, philosophy, sales strategies and track record are superior, it will be rare to convert a Buyer through properties you email based on a profile.

Whether you secured them through a pitch call, signing call, open house, or the Internet, you should assume that other agents have all the information you do. If you manage to convince them to share your email address, you have to assume that five other Agents have it as well. Whoever finds them face to face wins.

We all send the same property matches because they receive the same property from every agent they come in contact with.

4. Pray that he finally gets a date.

There was a huge difference in results when my partner from Atlanta went after the deal by scheduling an appointment. They stopped waiting for the prospect to call when they were interested in a house. They went after the prospect that other agents knew about but were waiting for the call, as they used to.

When I say appointment, I am not talking about an appointment to show a property. I’m talking about an appointment to conduct a Buyer interview; to determine the prospect’s desire, need, ability, and authority; to assess the chances that you will serve this customer and earn a commission. Imagine for a moment that you are a personal injury lawyer. As a personal injury lawyer, he offers a free consultation. The reason you want the consultation is to determine the probability of winning the case. The approach of a Champion Agent is the same. We are evaluating the prospect based on the likelihood of achieving the client’s objectives and serving them well. We are also evaluating how much we will earn, how soon we will earn it, and how much it will cost us in time, effort, energy, emotion, and investment dollars.

A Champion agent knows that the primary purpose of a sales call, whether inbound or outbound, is to make an appointment. The truth is that Champion Agents have more appointments than other Agents. They earn more money because they have more dates. Underperforming agents look at champion agents in amazement. They think there must be something magical about the way they operate. The truth is that they are more fundamentally sound in their philosophy, skills, and approach. They are clear that the goal is a greater number of appointments.

Underperforming agents need “The Deal” too much.

They often show need, even desperation for a new client.

Champion Rule: “When you need it more than the prospect, you lose control.”

If you need the deal more than the customer needs you… you’ve lost. It’s hard to take a chance, build a little tension, close tight if you need the deal to cover your mortgage or other bills. In order to be effective and successful in sales, you must be willing to risk losing the lead or prospect. This willingness first manifests itself in the form of asking people for an appointment to meet. Follow with the conviction that you are asking the prospect to work with you using the service system you have established for him. You are the expert, so why not use your system for service? It is difficult to guarantee successful results if you use someone else’s system or approach to home buying, especially the Buyer’s.

A Champion Agent is an Agent in command. They are in command of the prospect, their customer, the service they provide and how they provide it. They are also in command of their time and knowledge. Most of the other agents are on demand. They are at the beck and call of the prospect, client, other agent, or other persons in the transaction, such as the lender, inspector, and appraiser. The necessity of the deal can cause an Agent to lose all control. Being willing and able to walk away from a potential client if he doesn’t follow his procedures when doing business increases the chances that you will gain value from him. As an agent trying to reach the champion agent level, he must act like a champion now…now.