3 TYPES OF PROSPECTS AND HOW TO CONVERT THEM - KEVIN WARD

There are different types of prospects that some prospects are different than others. And there are some prospects that frankly, no matter how hard you try, you're never going to get their business. Hi there. It's Kevin Award, the founder of yes Masters Real Estate Success Training, helping you get more yeses and more successes in your business and, and in your life. And yes, I am competitive. And so when I would prospect for real for listings, I would get competitive against the prospect themselves. So if I had a prospect that, like, wouldn't give me the time of day or played hard to get, I mean, I would just like, oh, I'm gonna. Somehow I'm gonna get them. Or if they would talk to me, but they kept throwing these objections and I would just be like, I'm just determined. Or if they were committed to another agent that I wanted to beat, I would just, like, go after them and I would like, beat my head against a wall and, and never get the listing and never get anywhere. And you maybe you've been in one of those scenarios where you talk to somebody and they're friendly and they'll talk to you, but you can't ever get anywhere with them. And it's like, why can't I get them to hire me? Why can't I get them to do that? And it finally I realized, and I got this from one of my coaches in some training that I went through with him, that there are different types of prospects, that some prospects are different than others, and there are some prospects that, frankly, no matter how, how hard you try, you're never going to get their business. So in this video, I want to break down the three types of prospects that you run into in your business, in your prospecting, in your lead generation. And how do you convert them? How do you convert each one of them? Because the three of them all require a different strategy. So there are three types of prospects. The first type of prospect is what I call the die hard prospect. So the die hard prospect, they are the ones that they are already have a plan. They are committed to either another person or they are committed to another plan. And there's not anything that you can do, no objection. Handling ninja powers, that is going to change their mind. Okay, My mom is the number one ReMax agent in town. I'm not going to switch agents, that kind of thing. That would, in a sense, be a condition rather than an objection. And what it represents, though, is you've got a prospect that is a Die Hard committed to another person or admitted to another plant. There are some for Sale by owners. They're just like, I'm going to try it for sale by owner, period. I'm never going to hire an agent. And there's just, they have that loyalty or that commitment to their cause, that or their other person, that there's nothing you can do to break through it. Now, some people will pose as a Die Hard prospect. So whenever you run into somebody and they act like they are totally Die Hard, we're not moving or we've already got an agent, or we're just going to do it ourselves and we're never going to listen. They may or may not be a Die Hard. You got to dig a little deeper, ask some more questions and find out are they a Die Hard or are they just posing as a Die Hard to get rid of you? Alright? So don't just think because somebody gives you an answer that says no, we have an agent. We've been, they're our best, you know, been friends with them forever. We've used them 17 times, therefore they're going to stick with them. That may be a bluff. They may be trying to act like a Die Hard case, a Die Hard prospect, so that you, you give up on them. But if you dig a little deeper, you find out that was just a smokescreen to get rid of you because they didn't want pressure. Okay? So Die Hards. So the first thing you do, here's how you approach them, number one is you want to prod a little bit deeper. Okay, you're going to prod a little bit deeper by asking a couple of questions, kind of dig in. Is this, is this, are they really a Die Hard or not? Okay. And if you're using the book of yes scripts, you just keep on with the script, you acknowledge what they say and then very friendly, very nicely, you just keep going, you keep asking more questions about their motivation and so forth. So, and a prod a little bit deeper. And then I'm going to decide are they actually a Die Hard or not? Now if they're not a Die Hard, then I'm going to find out if they're one of the other two types. But if you find out, yes, they are a Die Hard, they are committed, they're locked in with their plan or with their other person. There's nothing I can do. Then what is your strategy? Your strategy is very simply patience. And what that means is back off. If you can keep them in your personal circle, if you can keep them in your vortex where that you can just continually, you know, send them an email every Month or two. But probably never talk to them, not do anything overtly or proactively to try to change their mind. The worst thing you do here is you try to change their mind. When you try to change their mind, all you do is make them resist you, and that pushes them further away. So instead, you back off and just be present, be available, be professional. You just continue to do your stuff and try to stay on their radar if you can. Because what has to happen here is they have to have a die hard moment, which means that loyalty that they had to their other person or to the other plan has to die. And it may be, you know, everybody. Everybody that's loyal is loyal until something changes. And when that changes, then they may be an opportunity. But for the meantime, do not beat your head against the wall. Because I would get competitive with these guys and I would be trying, like, I'm going to get them, I'm going to get this listing. And I would just waste too much time trying to convince a die hard to change. And it just freed me so much when I realized and learned this that if they're a die hard, there's lower hanging fruit elsewhere. Go work on the other types of prospects right now. Okay, so what are the other types of prospects? Well, the second type of prospect is what I call a crock pot prospect. So what's a crock pot prospect? A crock pot prospect is somebody that's going to take a little bit of time to warm them up. You got to warm them up, you got to simmer them, you got to build that relationship. They're looking, there's somebody that needs help. But as a prospect, they're wary. They're going to do some research and they want to kind of check things out and so forth. So what is your approach with them? Well, number one is you got to be great at what you do, so you got to be a pro. Okay? If you're an amateur, forget about the crock pots, because they're going to pay attention. They're going to ask great questions. They're probably going to look at your track record. They're going to be looking for somebody that's competent, confident, and knows how to get a result. So you got to be pro. Number two is you got to be persistent, stay with them, and don't back off with these people. Back off a little bit, right? But these guys, they don't need you to back off. They don't need you to be pushy. So there's persistent persistence is different than pushiness. It's not like getting in their face. I mean, occasionally, maybe depending on that type of personality, but for the most part, it just means you got to be constantly in front of them. Your goal is, I need to stay on their radar and let them see that when it comes to their options, I'm the best option. And if you're not the best option, if you're an agent watching this and you're new, you're like, well, I'm, you know, I'm just trying to get listings. I'm just trying to get started. I'm going to make a challenge to you that if you want to win in this business, you've got to go pro. You got to start getting coached, you got to get training, you got to do whatever is required to become the best. So that when you're in these conversations, people go like, can I trust you? Is this agent know how to take care of me? And when you know how to deliver a great result, people are going to trust you. So you got to be a pro. You got to get good, and you got to be persistent and stay in there. And the crock pots are typically going to take a little bit of time. The third type, they're the. They're everybody's favorite. I call these the SOS prospects. Okay? These are the SOS Prospects. What are they? They're the ones that are going, help, help me. I need help. They are sending out the S.O.S. they're the expired listing. That's like, I need a. I got a. I got to get. I got to do something. I need another agent. I need somebody that can help me. They're there for sale by owner who's desperate. They make. They may pose up here, okay? They may pose up here, but when you prod them a little bit, you're going to find out. They're going, please, I just need somebody that can help me. They are the perfect ones. They are the SOS they're the ones who are looking for an agent that can help them. They're just looking for the right agent, but they're going to make a decision today. They're going to make a decision this week. Now, again, some of them may pose as a crock pot or as a Die Hard, but in reality, they're ready to go. They just need the right person to. To come along. So the strategy here, you got to be a pro, but the main thing is, is you've got to be urgent about these. You've got to get on. You got to get in front of them fast you got to talk to them. You want to be urgent about it. When I say urgent, I don't mean be aggressive. It's not like a, you know, just go after them and just dogpile them. But you want to get there day one and you want to be talking to them as like regularly. If they, if you can't get an appointment today, I'm calling them tomorrow. I know that these are people that they need my help right now. These are the ones, by the way, the SOS prospects. The best example of that is a motivated expired that's looking for another agent. And those are the ones you could literally call them in the morning, set an appointment with them on your first call for later that day. You pre qualify them, you do your market analysis. You don't, you don't even, you don't even have time to send a pre listing packet. You just go out straight on the listing appointment and you leave that night with a new listing. And I've done that so many times. When you find these people, however, what I'm going to tell you is that these are few and far between. If I were making a guess based on 20 years of experience both selling hundreds and hundreds of listings and working with clients all over the country, I would say probably this is 20 to 30% of the prospects out there. This is probably 5 to 10% right here. And this is probably we'll say 65. Yeah. Price 65 to 80% of the prospects. So you have to know that consistency. This is why right here, this is why right is why lead follow up is having a good lead follow up system. Why having a good lead follow up system is so, so critical is because 65 to 70 to 80% of all the prospects you're ever going to run into are, they're going to be crock pots. They're not ready to make a decision today. They're going to be a little bit thoughtful, they're going to take their time. You're going to have to talk to them more than once. This is where most of your business is going to happen. These, this is why you want to have a solid daily lead generation time as you want to be every day that I'm talking to the new for sale by owners and the new expired listings because they're the hot ones. A lot of them. There's a high probability that they're going to be an SOS prospect. But if you're not calling them that day, you already missed them because the agent that got in front of them sooner, that was Good and knew how to lead them to a decision won on that one. And here just having a system that keeps you out in the business doing stuff and having something that you can kind of drip to people over time, maybe send them a market update, so forth in a way that they don't go like, get away from me, leave me alone. Gets you enough on their radar that when the die hard moment comes, you're going to be available. But I will also tell you these people are icing on the cake if you ever get them. Do not spend your time trying to win here. This is where the opportunity is, okay? When you're competing and you're going like these people, they like the top agent in the market. They've. And that agent just gets, don't try to beat that agent. Don't worry about that. Go on. For the people that don't have that loyalty, that don't have that commitment, these are a lot easier to get. And your, your batting average is going to be a lot higher with these people. So are there any other types of prospects that you think I missed? You could say, like they're not motivated. That would be another type of prospect that's not really a prospect. But if there's any prospect types that I missed or any things you think we should be doing that I don't didn't include here, make sure you put them in the comments. Let's carry on this conversation. If this video has been helpful for you, make sure you give it a thumbs up. We filled in the page. There's a lot of stuff here. And if you've not subscribed to my channel yet, please do that. Share this with other agents that you know. This may help and I'll see you on the next video.