Despite the title of this article I am not a big fan of the term “silver bullet”.  It implies that if you do (or purchase) just “one thing” the sky opens up, the birds start singing and all your business problems will suddenly disappear.  There is no such thing.  However, if you implement what I’m about to share below you will realize the closest thing to a “silver bullet” to doing more business online that has ever been offered in the real estate industry.  And, it won’t cost you a dime…

The Amazon River of New Business

Even in today’s toughest markets, the Internet is still the “Amazon River” of new business that most sales people either ignore, or haven’t a clue on how to fish.  In fact, most business is lost with the very first email a sales associate sends as a response to an online inquiry.  How you reply to an initial online inquiry will ultimately determine whether or not you are going to do business with them.

Remember, the online consumer is someone you can’t see, shake their hand, check out their body language or even hear the sound of their voice.  They prefer shopping for properties and services under the veil of anonymity provided by the Internet.  Any attempt to impose traditional (i.e. face-to-face or on the phone) sales techniques with this consumer will only serve to drive them away from you.

Crafting an appropriate response to an initial online inquiry requires understanding what is important to the online consumer:

• Privacy – everybody who does anything online is concerned about privacy;
• Staying In Control – this means they want to be in control as to when and how much they reveal about their needs and wants;
• Unrestricted Access to Information – consumers use the Internet because it gives them instant access to tremendous amounts of information while remaining anonymous. Being required to reveal who they are to receive information will only frustrate them.

Critical First Response Email Script

Let’s apply what we know about the online consumer and create an email first response “script” that will attract the consumer rather than repel them.

Now assume for the moment that you just received an inquiry that looks something like this: 

Most sales associates (if they bother to respond at all) typically start probing for more information and/or attempt to qualify “Jane” -which is exactly the wrong approach.  The following is a script that is specifically designed to “speak the language” of the online consumer and is the closest thing to a “silver bullet” you can find online:

Put yourself in the position of being “Jane”, who just sent the inquiry to a REALTOR.  When you get this kind of response back, how are you feeling?  What does this response say about the sales professional who sent it?

You will note there are two versions of the Critical First Response script above depending upon whether or not the consumer provided their phone number.  Many sales people think that if the online consumer provides their phone number in their initial inquiry, then that is an open invitation to call them.  Ironically, that is typically not the case.  The second version of this script shown above helps you address this situation.  Just send the response, wait 24 hours and then give them a call (assuming of course they did not explicitly ask you to not call them).  You will find that by doing this the reception you will receive at the other end of the phone line will be considerably warmer.

By using this script you will immediately change the relationship you have (or could have) with the online consumer.  And, your ability to convert them into new business goes up tremendously.  In case you have any doubts about the efficacy of these scripts, I receive emails from sales associates all the time who tell me how well it works.  Here’s just a couple I’ve received recently extolling the power of this approach:

I thought Charles’ offer to take me deep sea fishing was quite generous until he said that as a direct result of using these scripts he earned an extra $100,000 in commission in just 3 months.  Oh yeah, almost forgot to mention that about 70% of the closings in his market are REO and Short Sales -without question a rather tough place to do business.

Here’s another sales associate who was so excited when she saw the results of using this script that she shared the consumer’s response with some of her fellow associates:

The first part of the consumer’s response to Talley’s reply is very instructional (highlighted section).  You will see that she explicitly voices the very things we discussed earlier that are important to all online consumers.  It’s as if it came from the mouths of babes!

If It Ain’t Broke Don’t Fix It!

These scripts are easy to implement.  Simply create an email signature for each version of the script, making sure that your spelling and punctuation is correct.  DO NOT be tempted to alter these scripts by even one word (other than of course your contact and PS: copy).  Invariably, when sales people “tweak” the text they introduce their unconscious bias’ into the copy that typically reduces its effectiveness.  I’ve heard some sales associates complain that the scripts don’t “sound like them”.  Chances are they don’t, otherwise they wouldn’t be having the problem of converting online inquiries into closed transactions!

Success with online consumers is all about understanding human behavior.  By applying this understanding in a practical way via “Critical First Response” email scripts you greatly increase your chances of turning casual inquiries into serious new business, no matter how tough your current market is.  While not a “silver bullet”, they certainly are the next best thing.

 

NOTE: Mr. Internet®, RUSSER Communications, its staff and officers receive no compensation whatsoever from any third party vendors (unless he/they are directly involved with the creation and/or improvement of a vendor service or product), and make no recommendations as to the suitability of the products or services mentioned in this article. Always thoroughly investigate any product or service before trying or purchasing.

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Mr. Internet is the alter-ego of Michael J. Russer, an internationally recognized Internet speaker, trainer, author, and strategic consultant to the real estate industry. He’s dedicated to helping real estate professionals leverage their people skills into profit on the Internet. Send your Internet questions to help@askmrinternet.com or you can visit his Website at http://www.russer.com

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This article is reprinted in its entirety from the January 2009 issue of REALTOR® Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS®. January 2009. All Rights Reserved other than mentioned above. Mr. Internet® is a registered trademark and IEC^TM and Ask Mr. Internet!^TM are trademarks of RUSSER Communications.