How To Dominate Expired Listing Calls | Mastering the Script with Pace Morby
The Aaron Novello Podcast・77 minutes read
The speaker discusses key strategies for successful sales, emphasizing the importance of asking specific questions, emotional connections, and understanding clients' needs. They also share personal experiences and advice on continuous learning, improvement, and mindset for achieving success in sales, particularly in the real estate industry.
Insights
- The speaker stresses the importance of emotional connection, empathy, and understanding in sales communication, highlighting the significance of focusing on the client's needs and building rapport through tonality and subtle cues.
- Mentorship, accountability, and strategic shifts in focus, like transitioning from calling expired listings to probates, were pivotal in the individual's substantial business growth and success, showcasing the transformative power of guidance, adaptability, and exploring less competitive markets for lucrative opportunities.
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Recent questions
How can I improve my sales communication skills?
Practice asking specific questions to understand client needs.
What strategies can I use to engage clients effectively?
Ask permission to proceed and be unattached to outcomes.
How can I handle initial resistance in sales calls?
Focus on understanding the client's needs.
What is the key to achieving success in sales?
Consistent effort over time, even in the face of challenges.
How can I set myself apart as a listing agent?
Offer unique solutions like cash offers or creative finance options.
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Summary
00:00
Effective Communication Strategies for Sales Success
- The speaker reflects on their experience with expired listing phone calls, highlighting the importance of asking specific questions.
- They emphasize the need for better service and recall a friend's success in high school with similar tactics.
- The speaker discusses the subtleties of communication and the importance of understanding unspoken desires.
- They stress the significance of emotional connection in communication, particularly in sales.
- The speaker advises on handling initial resistance in phone calls and focusing on understanding the client's needs.
- They suggest strategies to engage clients effectively, including asking permission to proceed and being unattached to outcomes.
- The speaker shares techniques to guide conversations towards solutions and demonstrate understanding.
- They recommend showing empathy and focusing on the client's needs rather than asserting authority.
- The speaker highlights the importance of involving all decision-makers in the conversation and addressing objections.
- They emphasize the power of tonality and subtle cues in communication to build rapport and guide discussions effectively.
12:23
Private Practice: Key to Sales Success
- Aaron is praised for his expertise in sales, attributed to extensive practice and refinement of skills.
- Practice and repetition are highlighted as essential for mastering sales, with Aaron emphasizing the importance of private practice for public success.
- The speaker suggests that public recognition is a result of countless hours spent in private practice, emphasizing the necessity of dedication.
- The financial struggles faced in the initial year of selling real estate are shared, with a focus on the importance of perseverance and continuous improvement.
- The significance of role-playing with experienced individuals in honing sales skills is emphasized, with the speaker sharing personal experiences of growth through such interactions.
- The story of Munif, who initially struggled with role-playing but eventually excelled through consistent practice, serves as an example of the rewards of dedication and persistence.
- The speaker stresses the importance of choosing where to invest time wisely, highlighting the difference between service provision and the selling of services in the sales business.
- The transformation in the speaker's sales approach, from focusing on service to emphasizing sales skills, is detailed as a pivotal shift in mindset.
- The speaker underscores the necessity of continuous learning and improvement in sales, comparing it to mastering other skills like playing the violin or using a scalpel.
- The importance of consistent effort over time, even in the face of challenges and setbacks, is emphasized as the key to achieving success in sales.
25:17
Mastering Mindset and Intention in Real Estate
- Mindset is crucial when approaching a situation, along with the importance of intention and approach.
- Intention is like a dye that colors interactions, leaking out through tonality, facial expressions, posture, and choice of words.
- The primary objective when reaching out to sellers is to secure a listing, focusing on understanding their grievances with previous agents.
- Sellers often attribute the success of selling a property to activities like open houses and Facebook ads, despite the MLS system being the key.
- Convincing sellers that you are better at listing on MLS than others is a critical aspect of being a listing agent.
- Setting oneself apart as an agent involves offering unique solutions like cash offers or creative finance options.
- Lack of communication and failure to delegate tasks lead to agents being overwhelmed and not picking up their phones.
- Understanding the value chain in business is essential, highlighting the importance of prospect lead follow-up as a salesperson's highest valued activity.
- Many agents struggle with delegation and running their businesses effectively, leading to overwhelming situations.
- The prevalent mindset of scarcity and the belief in doing everything oneself hinder business growth and success.
37:32
Starbucks meeting leads to million-dollar success
- Meeting at Starbucks with a life-changing coach for $500.
- Coach Aaron condensed valuable information over thousands of hours.
- Initial meeting with coach John led to homework assignment.
- John fired the individual for not completing the assigned task.
- John advised hiring an admin for the individual's construction business.
- Hiring an admin led to significant business growth and success.
- The admin, Anna Martinez, tripled the business in a month by answering calls.
- Hiring Anna resulted in the individual taking home a million dollars.
- Mentorship and accountability led to significant personal and professional growth.
- Expired listings and probate became key sources of business success for the individual.
50:17
Transitioning to Probates: A Profitable Strategy
- The speaker shifted focus from calling expired listings to probates in their residential resale business.
- They emphasized the Blue Ocean strategy, preferring less competitive markets.
- Probates were chosen due to requiring a higher level of legal understanding and emotional intelligence.
- The speaker detailed their transition from direct mail and PPC marketing to probates.
- They highlighted the importance of understanding cost per contract in wholesaling.
- The speaker shared a quote about the importance of being both a good marketer and salesperson.
- They recounted their successful approach to probate services by directly contacting attorneys.
- A specific incident with a probate client led to a profitable deal and a long-term partnership with an attorney.
- The speaker discussed the challenges of scaling their probate business and maintaining client relationships.
- Despite losing some business due to scaling challenges, the speaker had significant success and profitability in probate deals.
01:02:58
"Maximizing Property Value: Clear, Informed Decisions"
- Discusses the importance of getting a clear picture of the value of a property before deciding to sell.
- Mentions the potential assistance families might need in clearing out contents, organizing estate sales, or doing handyman work.
- Emphasizes the need for gathering information realistically to make informed decisions about selling.
- Proposes a 10-15 minute phone or Zoom appointment to provide details on potential proceeds from selling and ancillary services.
- Highlights the opportunity for collaboration and learning between investors, wholesalers, and agents.
- Mentions upcoming events like live trainings, a Gala in January, and potential collaborations on Creative Finance discussions.
