A teacher is better than two books. (German proverb)
An extremely effective way to convert a lead is with the â€śNutshell Speechâ€ť. I used it with great success in the practice of real estate law. It is almost 100% effective with first time home buyers.
What is the Nutshell Speech?
The Nutshell Speech is a summary of the real estate transaction, from start to finish. It explains each step of the process. And I mean step by step. You inform, ask questions (do you know the difference between a condo and a co-op?), answer questions, give away some inside tips (condos are easier to sublet than co-ops). You do not explicitly sell yourself. The goal is to educate.
Why Is It So Effective?
The reason for its success is at least four-fold.
1. First, itâ€™s not a sales pitch. People immediately tune out the sales pitch. But they will listen to information that can help them. I always prefaced the speech by telling prospective clients, â€śWhether or not you hire me, I want you to understand the processâ€ť. I took the sales pressure off them to hire me. And this helped them listenâ€¦ and then hire me.
2. It shows your understanding and expertise in real estate. People want to hire experts. Itâ€™s a fact. Knowing that you know makes people comfortable. They will trust you.
3. It shows you care. A great way to reveal yourself & create rapport is by giving a seminar. And thatâ€™s what the Nutshell Speech is, in a nutshellâ€”a mini-seminar. People will not hesitate to hire someone they feel they know is looking out for them. After the speech, you are no longer a stranger selling a service. Youâ€™re a caring human being helping another human being understand this complicated thing called real estate. And heck, if you didnâ€™t have a caring personality, what the hell are you doing in the business?
4. Most importantly, knowledge reduces anxiety and fear. Anxiety and fear, bread of ignorance, are the main obstacles to taking action. And the decision to buy a home is fraught with both anxiety and fearâ€”not only of the process but of hiring an agent. If you reduce this anxiety and remove fear, people will act. And often act immediately. I was usually hired on the spot
The Nutshell Speech Overcomes Price Concerns
Yes, itâ€™s true. People have told me the reason they hired me was because of the Nutshell Speech. They felt confident in my ability to get the job done and look out for their interest, even though I was not the cheapest. I was able to communicate my value to them. Folks will pay for value. Not only did they hire me, they never tried to bargain down my fee.