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we can start in about [Music] minutes sorry yeah so every Tuesday we do these production Zoom trainings and this week we have Kai we're really excited to have you and train us on Modern lead conversion yeah I'm excited to be here and uh should we get started now yeah we can start getting started and let people into if they come in realtor time okay it sounds good and yeah we're excited to have Kai he is a three or four time icon agent which means he's in the top three% of our brokerage which is over 82,000 agents so it's crazy to have him on here and with all his production last year he did 32 million with 100 plus closings in 2023 um is it you've been investing in real estate since 2013 and how long have you been in real estate for Kai uh so give Tech now is over 10 years already um but uh uh the first few year basically I'm just investing in my own real estate Investments long-term rental specifically and get started with a whole real estate business until probably like about six years ago yeah 2017 2018 yeah that's really exciting and you've done and you have two teams uh cgp realy group and you just started cgp commercial correct yes yes and that was very excited actually because um during the time when I was with corporate as you can see um most of my experience is in commercial real estate at the time um and our team actually specializ in multif family uh but then when I get into the the full-time residential business I don't really do much Comm uh Commercial Business until now when I start cgp commercial again uh it's fun to get back it's a very different game play yeah how long has that been when did you start that um about a year ago now um okay so while since we are husband and wife team my wife mainly handled the residential s uh and thank to our awesome teammate uh in CTP they they do everything quite well so give me some time to um to do more commercial thing to focus on that and get back into that well it sounds like you two are power couple so yeah it's it's fun um especially often time you know it's more like she's the BS I'm just the driver you know you always listen to her that's right that's right so uh I guess yeah I mean it's already five after the hours so let's just go ahead and gu started uh we have a uh we probably have people turning in from a far and we have a a few people online here uh how's everyone doing uh do we have um would you guys be able to interact with me today for our trainings and okay let me see I have a I have a few uh questions if I get to if I can get to know you guys a little bit better so that way I know how to tell the example and conversation as we go uh is it okay to ask you gu a few questions yes sir yes sir all right all right so um who has gotten their license this year I do Ethan ah okay awesome congratulations thank you thank you yeah anyone got their license last year I did okay anyone else yeah it's me I got license last year okay okay okay okay so I assume the rest of you probably get your license at least a year or two ago okay okay that's good um now who has to close a deal in 2024 I did congratulations a great to start the year yeah yeah and who have some closing last year I did I did yeah yeah congratulations okay now let me ask this who here has at least one difficult [Laughter] client crazy makes me crazy right right um and that's that's the nature of the business right that's part of it but hopefully you know some of the tools and uh script that we talk about today may help you handle some of them okay uh who won another closing this year everybody does everybody yeah yeah guess give me some energy here we all want some okay and uh let me see um uh do you know where your next clients come from that's a good question ah come on who has the answer for me here shout out guys give me a few idea or help everyone else here where Cent who come from referral the what referral I didn't get it referral referrals referrals referral yes oh okay that's awesome I think that is the the number one source that I would hope everyone have is referral because those are free and they come with a warm introductions right all right um but I think that's this is one of the question I asked myself every day uh not because I don't have the answers but I like to ask myself so that why I will constantly think about the answers and I hope that you can do the same thing for your business okay now what are you hoping to learn today lead conversion okay okay yes uh is that because you have any difficulty anything that you faced lately that you would like to have answer to no okay well I'm just going to move on and then we I'm sure that we will be able to get some in the way um and then feel free okay since we have a pretty small group um anyone who have any answer uh question along the way feel free to interrupt me or slow me down and then uh I will get those addressed for us okay uh but basically uh for the idea of the today's topics and content um I want to quickly go over you know a few foundations thing that can help with our real estate business and then you know even though the main topic today will be lead conversions but we cannot talk about lead conversion without talk some about lead Generations right because lead generation is also part of the game uh so I will mention some of that as well um and then I will share some of the script some of uh maybe some of the phrase uh objection handling that have helped me in the past and hopefully that it can help you as as well um and then because of the uh the short time short time that we have today most of our stuff will be high level with some take away uh because if we have to go dig down into each individual topic it probably will take a longer than a few hours okay let's dive in so um anyone want to guess what are the some of the foundation that we should have in our realter business now number one thing is mindset I think that that is super important because if you don't have a strong mindset if you don't understand the name of the game it's very hard for you to carry through especially there's always huddles throw at your way when you start the business you know there's some challenging some difficult client along the way and if you don't work on your mindsets it's very hard to to keep carry on and we will quickly touch on one of the aspect of the mindset that can help you right away okay and then the second Foundation that we should always have a skill set we have to understand that it real estate is actually very simple however there's a few skill that we want to master it quickly and early on in the game so that way whenever we start building out the business we already have those ready to go um and then the third Foundation is your habit why is so important because you want to be able to create some very good habit because habit is just you know a new thing that anyone can learn as human being we can add new habit new routines anytime any day we want however the hardest thing is to make that new habit become perminent to us right so um we want to be mindful about what is one more habit that we want to learn to do so that way it help our business and then if we can do that we want to keep repeating it day after day so that way it becomes as simple as you know wake up in the morning we brush our teeth wash our face so you want to have those real estate habit and mainly I want to share a few um focus today on money generating activities because I feel like sometimes uh as we go through our day today in real estate we keep ourselves very busy but sometime we got busy for the wrong reasons and if those busy thing doesn't really help us make money or generating new clients for our business is not money generating activities and those are habit that we want to get rid of for example a lot of time we may spend like half a day a full day trying to design a perfect looking business card or sometime you shouldn't right instead make a standard one that you can use ready to go out and have conversation with people that will definitely more focus on the money generating activities lastly um equally important is knowledge you want to make sure that you are knowledgeable in the field of real estate right because the real estate have so many applications and if you start learning about one area two area make sure you don't stop there and you constantly master your crafts so that way you can you can confidently talk to any client and you don't let the client to tell you that it's not a good time to buy real estate why because it's always a good time to buy real estate just the matter of which one you're going to buy right um now before we move on to to go a little bit detail on all of this um I I just want to mention one thing that you know over time whenever we talk about building realter business uh and Le generation Le conversions there are three things probably that we can truly control right there's so many different elements so many different surprise thing throw your away but there are three thing that you can control every single day the first thing is what we say okay and the second thing is how we say it and then how many people are we going to say it to if you if you see clearly that those are the three thing that you can control you can do that every single day and don't let anything now interfere with you okay now so let's talk about mindset a little bit um what is what is success do you do you all want success you want to be successful right can someone share with me real quick what is your definition of success yes anyone do you not want to be successful I think like you should active your target when you set your target for one month for three month for year whenever you active the first step of your target it's successful like it depend on how you feel about that but to me when you take the Target and you you when you got it it's success yeah yeah as simple as that I think that's awesome uh thank you for sharing if if you set a Target you get it you become successful uh anyone else want to share what they feel they should have before they feel like they are successful this yeah oh hi hi Ken hi hi hi K yeah go ahead okay so I just want to share like um to me if I'm successful when I'm happiest yeah yeah being happy that is also very important um because that's why earlier like say right if we get a Target we get it we feel successful but sometime it depends if that one thing make you happy then has also be success as well yes okay so for me I think my definition of success I think like partly like Karen say is happiness so you want to quickly Define what make you happy because the more clear you are about it the better that you the better chance that you have to become successful and in here if we talk about the real estate business you need to have a Clear Vision clear pictures what a success to you in the real estate business business some people they have been doing investing in real estate they have a part-time corporate job and then they just do some real estate on the side to them if they can close one or two house extra a year that's their success definitions right but to some people they want to close at least 10 house a year some other people they say you know what I want to help at least 20 family 20 firsttime home buyer I it make me happy when I see people settle into their dream home their first home and then some people they say well my success is when I able to help investor get into property that have a lot of cash flow appreciate a lot of equity I can see that for myself right so you want to see it you know can you see yours how clear is your visions and then when you have that you have to decide do you want it enough right sometime along the way we may get Carri away and then we we say Okay I I want to be successful I want to close 10 house this year 20 house this year and then when you look at their schedules they barely have one appointment of a week to talk about real estate then that mean you don't want it enough but but my kids happen my job happened my my this and that well but you you don't you let those taking you away from the thing that make you want it the thing that make you happy why right so then we may have to rep prioritize our schedule and hopefully want to you thing that I share in a little bit will help you go through that and maybe filter out some of that instruction as well okay so all right cool enough about mindset let's dig into the the data and the knowledge okay so I want to quickly you know have a quick overview remind everyone uh this has helped me during my first and second year in real estate and I hope that it can help you the same way you want to start thinking about your real estate business as a pipeline business is not transactional you know because if you only focus on one transaction at a time the the minute you close on that clients you have nothing left you have to restart everything in the next month but if you start thinking about your real estate as a pipeline is is powerful because that mean you know you already look far away okay who can I help three month from now who can I help six months from now and then keep pulling into them and then converting them along the way because you cannot have a strong Le conversion without a pipeline and what is pipeline in real estate okay just like this cycle okay everyone when are starting out as your contact contact what is the simple definition of contact a name and a phone number or email address that's it now of course along the way you have to work on them there different thing that you can do but from contact if that you determine that they have real estate need then they become prospect on phone number name and have real estate need Prospect because Prospect is your Hit List you want to hit them right and then when those Prospect they start looking for Real Estate they start looking for thing they want to then they become a lead because they actively want to look at houses they want to get pre-approval they want to work and then if you can successfully convince them to work with you then they become your clients they close a deal with you or two right now after closing that's not it the Journey about to get started again right just because you close the house with someone like earlier I am ask if you have a closing this year if you have a closing last year why do I ask that because those people can become your client this year as well or next year right who knows sometime they want to buy an extra house sometime they want to sell the one they're in because of circumstances in life right um or some sometimes they are your biggest spoke persons right because when you close a deal with them they happy with it they will refer you more business like Mohamad said earlier one of his deal is from referral right on coming up and and so I think that is important that we keep this in mind so our ultimate goal uh for lead conversion is simply moving people through the stages so you identify you identify your your list of people and then you see where they fit in this circle a pipeline and then the next thing you do is every week you want to make sure you spend time to moving them from one state to the next and of course anything that closer to close that's your priority right because the closer they are to the close then that mean the closer you are to the closing to your paycheck right now if they F away then you have different plan for long-term followup as well okay now but that sound like a lot of work so how exactly can I or can you control this pipeline right uh one of the thing that I want to introduce to you is the parado principle is called 8020 Rule and when we when we talk about 8020 we we want to see that in the real estate business um just like everything else in life there's 8020 meaning there are 20% of the activity that makes you the most money of the 100% of the real estate business 80% of that are something that you kind of have to do but it doesn't really help you so want you want to minimize though as much as possible and and that mean every day you want to focus on the number top two thing you always want to block out your time doesn't matter if it's 2 hours 1 hour but it have to be every day for lad generation and lad conversion what do I mean by that sometime we go through a day we do so many thing maybe we do all the thing in blue right there but we don't really do any for the true gray area that mean what is L generation L generation just acquiring new client right and then list conversion is we we make sure that those clients stay with us and close a deal with us basically as simple as that now if you go through a day without at least those two thing or two category then you missing out on building your business you get carried away so you want to make sure that if you have appointment if you practice your your craft if you negotiate deals you still don't foro of Le generation and Lead conversion because without that it's very hard to to build build a step further now beside this 20% of activity you also want to have other thing that can help build your business as well and I want to suggest three more thing that you should focus on that can help with your conversions um when you when you building your business and and if you notice I keep mentioning this real estate this realtor it gig is your business it's not another job you want you don't want to another high pay job that you you don't have control over the outcome this you have control so in order to build your business these three Focus that you want to have every single week okay well first thing first we are in a modern age so you need to make sure no matter what you have to have a strong online presence what does that mean well make sure that your website is up and running make sure that all your information on there are up to date it's easy for people to buy you call you contact you right and with so many social media platform out there you have to be on it well you don't have to be active on all of them there's no way right oh some people able to manage that when they build up a system and team and everything but if you starting out or if you're just running thing on your own just make sure that you create at least the minimum profile on each of the popular platform out there Facebook Instagram Tik Tok Twitter whatever uh and and and uh one of the most uh another professional one is LinkedIn right make sure at least you have a good profile from landing page because often time when you go out to meet people they already see you they already talk to you but they want to see who you are they're going to go online they're going to search for your name realtor real estate whatever and you want to make sure that whatever they find is the information that you want them to see and the more profile that you have on all the social media site the easier go Google going to show all those pay to them so that way they can see who you are and if that's someone that they can do business with okay and then networking of course you know industry industry event is always helpful because that's when you can brush up on your knowledge and the more you know the the easier you have real estate conversation with people uh but mainly when we talk about acquiring client and converting client open house open house still a very trans Source a lot of time it it got over a look uh but I highly recommend it if you do able to block up sometime for the week do one or two open house every week and you will increase your your very strong presence in the community okay and along the line with that the more people you meet the more potential lead that you have and if nothing else you get a chance to practice practice your real estate conversation uh there's no shortcut you have to practice time after time to get better at it right and then lastly referral uh it's not a given make sure that every time if you meet people you have client past client always ask for referral if you don't ask you don't get if you um just because they know you're real estate doesn't mean they will automatically send client your way because they are too busy with everything else so you got to ask okay um and then uh I think that one thing that really helpful for me whenever I want to have a real estate conversations either if you if you read a lot of real estate articles just pick one every week and use that at a sharing point it's always so easy for you to talk to someone when you say oh yeah I just read about this do you know blah blah blah that will help you carry through the conversation if you have nothing else to say and then you know the next two thing that will be helpful will be you know like home valuation service or neighborhood report uh but those are more specific right to have a general conversation about real estate any real estate article and topic is the best to get started okay now uh D dve into the lead conversion thing I have this formula it's very simple but a lot of time it's got Overlook so do you know if you have someone who really want to who really want to buy a house with you and there's only two thing that they really need the first thing is they need to get pre-approved second thing is they got to find the how that they like enough to make make an offer and if you have those two things you're going to keep offer going keep offer coming right it's so very simple but if you think back about the pipeline the circle of pipeline that I shared earlier you want to focus on hey if I already have three four five people that I know and talk to about real estate but I haven't even been helped them make any offer yet then you know they missing one of these two thing and if you know that that will translate to your actual activity that day hey I have four people they already have the house they like but they haven't got pre-approval yet so then your conversation with them will be all about hey talk to lender hey talk to lender hey submit your paperwork hey do that but if these four people they already pre-approved they just don't have the house that they like hey make sure that's all you focus on hey send them one house two house to check it out hey let's go on showing so that way if you focus on the activity that needed to move them to the next stage is easier for you to move them to next state now however if you kind of neglecting them because you say oh they still haven't found how they like I will just wait until they f one and you spend more time on other people or prospect that not even pre-approved yet then you missing out because every day during the week that you're not contacting your active lead the people that have real EST estate need already guess what they are so ready that the minute that they meet another realtor another one they will jump on it make an offer right away and then you mess up right so make sure you're proactive just because some and then understand what house they looking for so you can find house for them don't wait for them because they have their own line their own job sometime they don't actively look at houses until late at night but if you control that process you send them some choice that you know they like you can move the needle okay all right so let's actually just go down into the conversation when you do have a conversation with someone what are some of the thing that you think that may help you right um and and and and some of the question that I keep asking myself is okay if I talk to a buyer after I talk to a client how do I figure out you know what really motivate them what do they need and how to connect them to to the actual money question sometime we feel awkward about get pushing them for pre-approval right so some of the question that come up along the way that help me and I hope some of that may help you as well um and before we di out to the question uh I want to highlight this book right ninja selling uh if you haven't heard of it check it out it's awesome it's going to help change your real estate business right but basically the author uh the author say that you know one of the best script that you can have is anything that offer a solution to to to their problem and um if if you if you you're able to provide value provide them what they looking for you're not selling you're just simply offering advice and service and if you can do that they will happily buy with you sell themselves to you you know um and but often time we may Focus too much on the selling and not the closings um so we want to reframe ourself that way every time we talk to someone we want to ask enough question to identify the problem first and then after that offer your Solutions um like for example you know often time it's easy to ask someone you met at open house or a new referral you got hey what do you want in a house and then you go on and on about different thing and then you go out hunt for the house I have those things right um but it will be easier if you reframe the question from the beginning and ask them hey what a you you tell me several thing you want but if I have a list which one is not to have and which one is a must have for you right and the reason why that's important is because sometime everything they want may not exist in the house or maybe not in their budget but if we didn't separate them the one that they really have to have in the house we may lose the chance to introduce them to some of the choice that they can make offer on right away right and and and if if they don't make then we cannot move them to the next state so then we want to make sure that we always go back to the solution B and the only way for us to offer a solution if we will truly know what they're looking for okay so now how do you talk about your value without appear like bragging about it have who here have come into a situation where you feel awkward about talking about yourself or you don't know how to cack about yourself confidently without s like arrogance do anyone have that problem anyone want to talk about them themselves and why they should be my rors come on I want to buy a house soon who want to convince me they am they had a roto for me Ethan a try oh Sophia hello so what I usually say because I'm I'm young and that could like turn off some people um because my age can look like I don't have experience um what I say is because I'm young I have no other responsibilities other than real estate and and responsibilities to my clients like I don't not not married I don't have kids um and um so I'm more than happy to you know um give my all to my clients and um and go that extra mile for them literally and figuratively oh my God that's perfect all right what do you guys think you think that's good TI for Sophia yes yes I I think so I think a lot of time it does really have to be super fancy or anything it's just the one thing that you can say that you committed to do better than any other realtor out there that's enough the fact that you're winning is because you say it to the client a lot of realtor out there it's very hard for them to articulate that or even communicate that to the client they think oh the client will just know no no they don't a lot of common sent is not common sent you want to be able to say articulate it so the next slide I want to introduce you to to something that um that can help shape the framework a little bit um uh if if that's something that you can use okay I have learned through it to different real estate training and program but I feel like this is a very good formula to use and what exactly is it so the ABC of selling from the beginning of time I don't know everyone have heard of ABC right always be closings right milia yeah yeah yeah yeah see so so far me I I feel like well you know another take to this uh that I learned is action benefit and commitment and if you use this every single time it will make your conversation so so fluid so easy to come out but it have a good effect in converting that lead okay so A and C the same every time you don't even have to change it the only thing that you need to plug in that you're on is the B right so for example hey all we need to do now is simply set an appointment for you and of course depending your situation it's either hey let's go showing let's go look at how this weekend what let's set up that appointment or hey let's set an appointment to do buy a consultation about the home buying process and you are so new to it or hey let's appointment to to take a look at your house to see how much we can list it for blah blah blah all that so but the first question is we want to make a statement that hey so next all we need to do now is simply set an appointment for you and then benefit this is when you insert your benefit hey because hey I'm the buyer specialist in the area so when we sit down I will go over all the choice available to you based on the list of what you want for this house and then we will identify the top one that we can really dig down into researching and to see if that's a good fit for you so tell me when is the best time for us to get together is it weekend or weekday that's it that's it if you use this every single time for your first time interacting with a CL client with a lead with a referral you increase your chance to actually get somewhere get moving to the next step of that pipeline right and but the key here is you want to practice the benefit so simple so concise and straet to the point of exactly what they care about because guess what every prospect that you talk to they always inside they always ask themselves so what who care what's in it for me right so you want to make sure that you have those question in your head and you help them answer them when you say your benefit if you answer those question what's in this for me for them they will go with you you're gonna continue moving on with you to the next step right I yeah hi it's coach Camp can I this point that you're talking about here I think is critical especially for you asked at the beginning that there you've got several new Realtors yes uh on the call and I just got a quick comment you know some newer agents might have it in their mind that your script for example this one Kai they're saying in their mind oh that's a little pushy you know yes oh I I I'm not so sure I can do that so my question to you coach coach Kai is this here's the question is like do you subscribe to the thought the reality that hey they're a great realtor this is a great realtor and so the prospect even if it's a little pushy the prospect is not surprised it's because that's what great Realtors do right that's right great Realtors sometimes they kind of ask pushy questions like you know like a pushy question that comes to mind I ask it a lot with my buyers is like so how old are your kids and then they'll say well my my daughter's 12 or my son's 13 oh really are hormones starting to race and and they'll say well that's a little pushy Mr Collins well I don't mean to be pushy but that means you may need an extra bathroom right am I am I wrong and they'll say yes yeah you know what that's probably something I didn't think about so maybe we need to find something with three full bath and not two full you know Etc yep so I I just for the newer agents I thought you got me thinking coach you're doing good so thanks for the interruption of course always and I think those those are great point because that's TI back into that that that statement from the book ninja selling right you want to be solution based and without asking question without making statement that may make it a little bit you know pushy or or assumptive in some cases that without that you cannot offer a solution and the only way for you to get to know them is actually ask question to show that you care and you only ask forur the question because you care and you don't just accept what they tell you as is exactly yeah yeah awesome awesome good and so yeah for so for anyone else on the call I think that if you feel like this still kind of stange kind of awkward you know a little bit you know not you practice it that's the only way and the one key that make this yours is the be the benefit if you can make just like Sophia earlier that's perfect right imagine if Sophia start telling the client hey all we need to do now is set up a showing for you this weekend or appointment for you this weekend because hey I'm the person for you I'm young I don't have other appication I'm free all weekend I can make sure that I won't rest until I find you your dream home so tell me when is the best time for us to get together this weekend morning or afternoon boom just like that you know the client who hear that from Sophia I feel like oh my God that's so true she's free to show me month Saturday and Sunday she don't to spend time with her family blah blah blah that's a great benefit if anyone hear that they want to work on it so what I have for you guys if you guys can figure out your benefit and work on it and perfected it so that it's your and use it you know let me know later on I would love to hear success story from you guys if you're able to use it to set appointment and to get any new client new le converted that' be awesome love to hear from you but before that for homework if you like you can try TR to spend on these four topics okay because your benefit sometime is only good if it really speak to the person you're talking to and so you want to make sure that you understand the need and want of these four group of people okay because you're going to meet them more often than not throughout your real estate Journey first time home buyer what is your uni value purpos for them you know what benefit are they looking for in an agent maybe as simple as able to work them through the the repair list the inspection period or just simply understand the real estate process at a whole right and then empty nester downsizing what's important to them when they Downs sign or move buyer buyer who want to upgrade their first home to their forever home right what are they looking for in a bigger home are you offering whatever the resource and the value that that they they looking for so that way they want to look for you right and then investor if you talking to investor you know they wouldn't care about anything else but you know the good property the good appreciation a the good cash flow right so you make sure that you say some of that in the benefit of working with you because ultimately if you can frame this answers to the question of hey if someone were to buy a house in my area why would they want to buy with me right as long as you keep that answer constantly in your mind no matter who you talk to you can always articulate at least one good reason why they should work with you okay okay awesome moving on uh any question comment so far I'm good good we can move on all right so these are a few of my favorite phase and I'm a I'm a firm believer that you know uh over time you become successful is not about what you say but it's more on how you say it and um a lot of time what helped me is um uh I F I caught myself whenever I work in real estate I tend to ask the question why right when someone tell me oh that how is too expensive and I like why you know oh I don't want to make an offer on this one like why right and then when you when you start asking that kind of question with that kind of tone often time you may upar to be offensive aggressive or you know the client is already in the emotional situation they may have a bio remorse or whatnot and they just don't want to move forward and then if they feel like you attacking them with the why questions uh sometime it may not help the situation now but imagine what if you just going to be asked the same thing but differently right so if they say if we we we we show them 10 houses they find everything they like about the house but when we ask them hey you ready to make offer on this one no I need to think about it well instead of asking why you ask them hey what is it specially you need sometime to think about right they do sound a lot better A lot easier a lot more engaging inviting yes yes and it's the same exact meaning as why do you need to think about right and and so but this are what I encourage everyone to try to use and by all mean I don't come up with this myself actually in fact everything that I've have talk about today I didn't come up with it myself most of them on maybe 90% of them I learn it from others from different sources from from training from all the great people come before me so real estate is not rocket science you know to to come to it you know maybe after two three months you know 90% of everything going on in real estate but the more successful real estate persons they focus on the Mandan thing they being consistent on the basic task day after day day after day and one of that is you can upgrade your vocabulary and I learned this from the book exactly what you say for real estate agents and um this author is amazing actually the first time I hear about this book series was exactly what you say in general that can apply to any single situation and the cool thing about the book is they have the phrase about there's about 20 something of them throughout the book they have the phrase they have an example how to use it in the context and then they have several example how to use it in real estate so it's amazing you know after you read it through a few time you can make some of this your and you may not like all 20 something phrase that they have in the book but if you pick out three four P phase and use it consistently become your vocabulary you'll be so good and you make people all the conversation with the client a little bit easier right and and so instead for for attacking certain thing you know say help me understand help me understand about your the thought about current market condition why are you saying it's not a good time to buy right and and then how important it is how important it is that you move before the holiday this this is some question that help them to overcome some of objection that they don't need to buy right now right so if you can pain the picture you can paint what they looking for soon with this kind of phrase and questions it going to help you with a conversion to The Next Step okay all right now um do you do you find yourself sometime you know for the maybe the newer agent um you're not sure what you ask whenever you meet with someone M with a prospect you feel like there are so many question you can them well what I do is actually keep the short list of questions um in my note at all time during the first year before my first year before I show a house before I meet with a general people who looking to buy in the area I just want to feel fat very focused on by the time I ask this few question I know that I can come up with a list of potential house that they want to buy in this area so I don't walk away from that conversation with nothing I will always walk away the conversation with something that can help me follow up with them right so some very basic thing right to help me understand their situation what they looking for what are some of the thing that tie them to the area if that right and then you know that always want to ask if they are currently renting so that way if they are renting they will just simply say yes if they already own a house sometime they even say it very quickly oh no no no we're not rting we have house oh we have a house to live in so what does that mean potential listing appointment for you later on right so you want to focus on that and have some of those question in mind um and then I always have the question about communication too because I realize over time that people tend to have different preference so I will ask them hey if I have some good house for you do you prefer them to text or email and I found that most people when they hear me ask a question they they understand that I care about their Communications and it will actually help me know for sure how to follow up with them too some people people they prefer to look at email on their computer some people they just simply like to quick text on their phone so but you have to ask because people preference so different from time to time now the next set of questions that are very helpful would be question to asle uh when you talk about number financings money right and so you can always open up with a very general question what PRI R are you looking at now often time we may find some push back and stuff we start talking about financing are you pre-approved do you get a pre-approval so I would lessen the degree a little bit and say whatever the number that they give me I said just curious how do you come up with that number right and a few scenario can happen right either they say oh uh I got pre-approved for that number so that's my Max okay now it's good to know right or sometime they may just say oh yeah I just pull that number out the Hat you know and it's random number that's sound good to me then you know that you hey you want to to get straight to the question of connecting them to a la officers and what really helped me in the past is uh try not to ask for permissions you need to assume that they want to move forward with you already because that's the only way for you to increase your chance of conversions and it may sound a little bit awkward at first but the more you do it the more it come naturally right so in this case if I find out that oh I just randomly pull that number out ahead then I know for sure I need to talk to a law officer I know for sure that I need to get preapproved right but I don't just ask that right away hey would you like to get pre-approved no would you like to go talk to an officer no I would ask them would you like to save some some money when buying a house of course everyone would say yes to that so then then then that's when you can lead to the next question hey I know a local guy he has help many of our client let me connect you so that way you can learn more about financing size of thing right and and you can use that it help every every single time um moving on okay so the last things last thing that we have here is uh the one question that I I often use to isolate objections whenever you at an open house or when you're showing home to clients um at the end of it you know if you haven't F out everything about what really motivate them ask them if you need to change one thing about this how what would it be this question sounds so simple but it will really help you help the lead to narrow down what they don't like about a house sometime they can give you very generic answer like oh uh I I just don't like this house well what exactly do you don't like about it right sometime people they just feel that but they haven't articulate that either but by asking this question you can help to really nail out okay is it the kitchen is it the living room and whatnot so whenever you you're able to say that then I think it will definitely help you with understanding the lead motivation and moving On To The Next Step okay all right now um I think that's you know that pretty much a few thing that I have to share that can help you with some of this conversion next I want to take a quick snapshot um with the start of our industry and I think if you can really see through this number it's really motivate you through your lead conversion timeline okay when you look at the sell industry 92% quit after asking the lead four times okay asking for the business basically right and then 60% of the buyers say yes after the fifth time that you ask so what does that mean that mean only 8% of the sales agent end up with more than 60% of the business does that make sense can you see through this number it's crazy right that's why there's a saying say Fortune is in the followup now can that be you can you be the 8% of the people who have 60% of the business the answer is yes however only if you keep on going after trying four atts because 90% of the people out there already stop or quit after asking for TS um and I think just for the sake of statistic out there the the the the general uh feedback is what is enough is enough uh 7 to4 follow up time that is a enough if you do more than 14 that may be too much but anywhere between 7even to 14 times that is acceptable IND industry standard okay um lastly you know I have a few poting word that may be able to help um help you guys uh in maybe newer in the business or has been the business for quite some time uh especially we go through a very uh challenging year of 2023 with also than higher interest rate environment but no matter what you know if you get down focus on the game of Le generation Le conversions closing can happen every day forever we regard as a market conditions you cannot control the result but you can control your actions okay and you just need to focus and outwork every agent in your Market if you truly want it and you need to be able to see the vision that to want it and sometimes if the client really get out of hands or too difficult you it's okay to fire them because you better fire them and then go work your time and effort into the next one the better one it will be definitely help your business and again we are in a business that is 100% unlimited if you want it you can get it don't limit yourself okay uh now when we talk about we care it's it's very important if you care enough to predict out answer answer more questions put a relationship in it that will be your biggest return on investments because they're going to come they're going to do multiple transaction with you they will send you multiple referral uh because your business is your brand the more that you show people your value you care your business will grow right um uh one one other important note is try to be resourceful but never be the source it's very important to know that you only want to be directly the source of anything real estate related transaction wise but anything that's not don't don't try to be just refer them out to the right professional that can do it um always learning know your product know your craft right the fact that you are here on this this trending this topic I think that I always tell me that you know your product but you always want to be learning and I think that's super important um and uh that's a WRA for us if uh you guys have any comments any questions I'd love to go over it now super super is it is it helpful kind of thing everyone this was great Kai thank you all right and uh last part in gift I have a bonus that I think will blow your mind the same way that it Blow M okay I can find out about this about maybe a month and a half two months ago um does I I assume everyone here must have heard of J CPT right yes yes anyone using it on a weekly daily basis yes I had tried it once and it was amazing okay now let me ask you this have you tried the voice functions of chvp not yet okay do you have the ch PD app on your phone uh not on the phone okay so there is a I don't know if you can see it but there is a chat CPD app on your phone and there's a little head headphone headset icon at the bottom corner of it right and I never even know apparently they have this upgrade probably a few months ago whatever but it was never like a big announcement or anything right so but apparently one of the thing that you can do is you can articulate everything that you ask or communicate with jpt by voice and we'll answer you by voice so what does this have to do with L conversion well what I do is I activate the voice okay hello hi hello hi can you help me sorry technical difficulty hold on let's try again hello hi how can I assist you today okay um I'm a local real estate agent in the Houston area uh I need help practicing talking to lead and conversions can you help me absolutely I can help with that are you looking for advice on how to start conversations how to respond to specific questions or something else no I want you to the most help with no I want you to helping me with uh script practicing can you pretend to be a home buyer in the KD area and I will be the agent talking to you sure I can do that let's start hello I've been looking into buying a home in the KY area and came across your contact information could you tell me a bit more about how you could assist me in finding the right home yes would love you to love to help you with some houses um what what type of House are you looking for in the KD area two bedroom three bedrooms uh I'm actually looking for a three-bedroom house preferably with a spacious backyard I'm also interested in neighborhoods that are familyfriendly and have good schools nearby could you provide some options or guide me on where to start of course I would love you to help you uh do you have a budget in mind uh yes my budget is around $300,000 to $350,000 I'm hoping to find something within that range that still meets my needs do you think that's feasible in the KD area oh totally that's great uh I'm I'm just a little bit curious how do you come up with that number I arrived at that budget after reviewing my finances and speaking with a financial adviser we looked at my income savings and what I'd be comfortable paying monthly for a mortgage considering other Home Ownership costs like Insurance taxes see see how amazing it is wa you guys can hear the conversation right yes that's really cool right so so imagine this if you you know some of the thing that we talk about today like the benefit value the overcome exceptions imagine instead for you have to go look for someone to practice with you every day you know you can be practicing with jpt you know 10 p.m. in the bathroom if you want to practice real estate you can not going to bother anyone right and um so but yeah so that's what I'm saying is you know just download a chat CPT app on your phone and then look for the the headphone icon on the bottom right corner and that's how you activate the voice and then anything after that it's up to your imaginations you know if you feel like hey I just have difficulty talking to seller okay ask them to be a seller or if you have difficulty talking to investor then you can be hey be a investor be a difficult investor who very picky with their Investments and uh so and so and so and so so you said the parameter and after you do that then just tell them exactly what you wanted to do hey I'm a new realtor hey I'm a realtor here I want to practice can you ask this can you pretend to be this and it will carry on so and so so and so and then um often time when you answer when you ask a question and you see it answer it will help you formulate a a a plan in your mind on how to talk to these kind of people cool huh very cool blow my mind so and I hope that little tool can also little bit add-on that can help with your real estate business okay and anything else if you have any question any thought any comment or want to share your Victory from what you learned today connect with me text me let me know thank you and Kai for all the valuable information today thank you awesome guys take care have a great week thank you thank you so much K you thank you everyone super super bye every