Many real estate agents waste a lot of time and resources on prospects who are still too far away from actually starting the buying process. How can we tell the difference between the tire kickers, the pre-clients and the true clients? How do we make sure we get the true clients to commit to actually working with us? How do we create the abundance that allows us to let bad-fit clients go? On this episode, we’re joined by coach Aaron Drussel who shares the process he’s developed to make sure we know where potential clients are in the process, and how to work with the right people at the right time.
We treat clients who are still far upstream as now buyers too early in the process. -Aaron Drussel
Three Things We Learned From This Episode
- How the buying process has changed
In today’s world of buyer and lead conversion, we’re catching people a lot earlier and further upstream in the process of buying. The problem is, many real estate agents are moving the relationship forward too fast, and trying to close instead of going according to where the person is in the process.
- Why we shouldn’t be reluctant to ask for a commitment agreement with a client
There’s a fear of missing out on a buyer even if they aren’t the right fit. We need to measure the opportunity cost of working with someone who isn’t fully committed vs. actually working with buyers who are committed.
- How the fear of letting go is a sign of scarcity
Being afraid to let go of the wrong clients is only a problem when we don’t have enough of a pipeline on the front end. If we have an abundance of clients and leads, it’s easy to let a bad prospect go because you know there are many other options.
There’s a world of difference between a pre-client and a NOW client, and we should be treating them differently in terms of the resources we put towards them. We need to sit down with people for an initial meeting and ask the right questions. We need to be clear on whether they have a need that can be met by the market right now, if their financing is in place, if they have a timeline of 60 to 90 days, want to work with us exclusively and if they are tethered to us with a commitment. Our success in leading them through the process comes down to how relevant our service is to where they are.
Aaron Drussel is a real estate team leader and coach. For more information, call 801-234-0505 or email firstname.lastname@example.org.