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?