This is the ultimate way that Real Estate Virtual Assistant ISAs convert leads and increase business for our clients. Last year our Virtual Assistants generated over $50 million in Gross Commission Income (GCI)! Over the last 15 years, MyOutDesk has been instrumental in the success and growth of over 7500 clients.
Read this article, and you’ll find:
- What is an ISA in Real Estate? (Inside Sales Agent)
- LPMAMA (The ISA Mantra)
- How to Find a Real Estate ISA
- Hiring an ISA for Real Estate
- Ultimate Guide to Effectively Train a Real Estate ISA
- Listen to Live Calls, Examples, and Scripts!
- Converting leads, sellers, buyers, and expired listings with a Real Estate ISA Virtual Assistant
For those who want the ultimate guide … We’ve compiled some examples of recorded calls from our ISAs in action as they generate revenue for our clients and we wanted to share them with you so you can get a direct look into what they can do and how they convert buyers and sellers into commission for our clients.
What is an ISA in Real Estate? (Inside Sales Agent)
A Real Estate ISA may be the solution to your problems, no matter what kind of prospecting you do. Circle prospecting, geo-farming, expired & FSBOs, calling past clients & working referrals – MyOutDesk ISA virtual assistants ensure that you’re generating all the leads you need and not missing opportunities for more business.
A Talented Real Estate ISA, like ours, can help you:
- Lead Generation through calling expired listings, neighborhoods around just listed/just sold houses, agent spheres with information of value and asking for referrals, geographic farms to prospect for sellers.
- Contact all leads through phone/text/email within 5 minutes of registration
- Check with agents at least once a day on the status of their respective leads, as this will help the agents do their follow-ups.
- Nurture prospects, follow up, record data, screen & qualify leads
- Move leads through the funnel, set appointments & manage communications
- Email outreach, research market trends, prepare business reports
- Track and measure conversion ratios & meet performance benchmarks
- Practice, memorize and internalize scripts
- Manage contact database system & handoff hot leads to agents
- Submit daily reports on calls, conversations, and appointments set.
…and so much more.
LPMAMA (The Real Estate ISA Mantra)
Does it happen that you’re in the middle of the call and the flow of conversation doesn’t follow the script that you’ve posted on your wall? Suddenly you find yourself at a loss for words and completely unsure what to say next.
When you work with clients this can happen – but no need to worry, as you can use LPMAMA to guide you through each of your calls so you can make sure that you always complete the details that you need, matched with a superb quality of call with our leads as you sound more conversational and free-flowing.
Ultimate Guide to Effectively Train a Real Estate ISA
Let’s define exactly what LPMAMA stands for…
LPMAMA helps convert leads, sellers, buyers, and expired listings (with a Real Estate ISA Virtual Assistant)
L – Location
Prior to your Real Estate ISA’s calls, have the address of the property that your lead is interested in already handy. But is this the only one?
In their training scripts, make sure that you ask the lead if they will be open to other properties within the area or if there would any other areas that may also have their interest. (We have example scripts for you further down this article.)
- “Aside from this property, Would you be open to other properties as well in the area? As we will also try to find you other properties similar to this one that you’re interested in.”
- “Aside from this City; do you find yourself interested on nearby Cities as well?”
P – Price
Price range is very important as this will help your real estate team to narrow down the search among the thousands of properties that are listed on the MLS. This is also the right time for your ISA to ask if they are already pre-approved or if they would be willing to be re-endorsed to the Realty’s in-house Lender.
Also, take note that location and price should be compatible with each other. For example, The lead’s pre-approved amount is only $90,000.00 but he wants a property located within Brooklyn, NY wherein the least prices of homes are around $250,000.00. This will give you a signal to pitch to the client the possibility of changing their preferred location since the Budget is not feasible within the Brooklyn Market.
- “I see that the house you’re interested in is priced at $110,000.00. Is this the amount that your lender pre-approved you for? What would be the price range that you’ll be more comfortable with?” (Take Note: Not all buyers are willing to max out their Pre-approved amount as this will bring them in a tight financial status)
- “How much cash do you have in hand to purchase homes?”
M – Motivation
Gauging the Lead’s intent to moving in can also be done by knowing their motivation. Are they transferring to this area because it is closer to family members? Work? or Children’s School?. With all the different reasons that they might have, it also comes with a timeframe suited for every need.
For example, It’s August and you made a call to a family who is looking for properties in a specific area. You asked them for their reason for choosing that location and they said that their children will be transferred to a school near that area. This gives you an idea that they are moving in really soon because it’s already August and the school starts in September.
Here’s another scenario: You called the lead and he said that he is interested in the properties you have in the area. Then he mentioned that he is from another state. So you would ask, Why are you transferring to this area?
He then said, “I’m being relocated by my company to that state due to our expansion and would really need to find a property really soon since we’re opening in the next two months.” From a simple question, you were able to identify what is their timeframe as well as their urgency and you can use this as a negotiating tool by making them realize that you will cover everything for them and you’ll make sure that you’ll be meeting their timeline.
- “You seem to be really interested among the properties in Brooklyn, is this actually closer to your work or your children’s school? I did ask because we can use that information to prioritize which properties would actually fit you best.”
A – Agent
This is one of the most important questions that you need to ask. You should be able to identify how is the lead looking for properties. Is it through the internet? Driving around the Area? or They are being assisted by an agent. Make sure that they are not working with an agent, and if they do, go ahead and ask if they have signed an Exclusivity Agreement with them. It is very important that you identify this in order for you to know if you can continue working with that lead or not.
While asking this question, you may encounter someone saying that he is already working with an agent and he is just searching for homes in the area. If this is the case, you might want to ask how is their agent assisting them in the process. Also, try to feel from the lead’s voice if there is any dismay from their agent as you can use this to negotiate with them to use your services instead.
How will you offer your services if they have a contract? In some states, it is mandatory for them to have an Easy Exit Clause for the contract wherein they can cancel at any time the services of their agent and it’s effectivity will take place after 48 hours.
- “How do usually look for homes in the area? Is it through the websites? Driving around the area? or are you being assisted by an agent?”
- “That’s great that you already have an agent working with you, however, did you sign an exclusivity agreement with them?”
- “Can I ask an honest question? If your agent is so good and he is assisting you very well in the process, how come he is letting you to look for homes by yourself?”
M – Mortgage
One of the key factors during a home search is how are they planning to purchase the property? Will they be buying it through cash or financing? In order for a lead to go to the next steps of the process, they should be able to secure at least a pre-approval from their preferred lenders. These approvals can give you an exact amount on what price will your lead be eligible to thus improving your home search. A follow-up question for this will be how much cash do they on hand to proceed with the purchase. How much can they give for the down payment and how much will they be putting in the mortgage.
Most of the agents do require at least 20% down payment for the home. And in some cases, pre-approvals are used by the Agents to prioritize which lead should be attended to ASAP. But in cases that your lead has not gone through the process yet, endorse them to your preferred lender so they can give them a call and provide them an estimate for their pre-approved amount. Just make note of the minimum credit score accepted by your lender so you can also check if your lead qualifies among their standards or not. If your lead does not know their credit score. Have them log in to annualcreditreport.com but remind them that pulling up their records will have a negative impact on their scores.
- “How are you planning to purchase your home? Is it through Cash or Financing? – How much cash do you have on hand to purchase homes?”
- “How much down payment can you make?”
A – Appointment
Last but most important of them all is the date of the appointment. Giving your Agent an opportunity to meet the lead face to face or to have them on the phone will definitely be an advantage as they can now use their negotiation skills with the lead thus making them inclined to have a contract with your agent in buying or selling homes. Remember that setting up an appointment should be done assertively as you need to make them feel that you are guiding them in the process. The majority of the Leads are First Time Homebuyers and they are definitely in need of someone who will guide them in the process and show them what their next steps will be.
Another key to having them agree to have an appointment is to let them know what will be the benefits that they can have when they choose to meet up with the agent. Always emphasize the “WIIFMs” What’s In It For Me? And there are a lot of things that you can offer to them which they will not get by simply looking at the homes available via the internet or by walking in inside an Open house event to talk to the listing Agent. Offers may come as Special listings with great offers and discounts which are never posted on the internet, the Ability of your Agent to further understand the type of home they’re looking for to narrow down or expand their search, Prioritization when it comes to Inquiries and Showing appointments and many more.
- “Let me schedule you for an appointment tomorrow with my Agent so he can have a better understanding of what type of home you’re really looking for. I can have you booked at 3 PM or 5 PM, which one will work for you?”
- “Why don’t I have the best local agent in the area call you at 5:30 this evening and provide you with more details about this listing as well as pre-approvals and more options for some of the top listings in this area? There’s no commitment at this point. It’s just over the phone with my agent — who really listens…”
Feel free to create your own questions on how to ask them about that specific information and contact us so we can also compile all those great questions for everyone to use, and click here to schedule your free business strategy call now!
How to Find a Real Estate ISA
You’re not maximizing your real estate team’s potential without a Real Estate ISA/Prospector— each week up to 60% of your team’s time is wasted on busy work (pre-qualifying leads, cold-calling, nurturing, etc.) It’s time to get more efficient AND lower operational costs. Hire a Real Estate Inside Sales Agent (ISA) so that you and your agents can dedicate your time to the more important, dollar-productive tasks (a.k.a. closing the deal!).
You can find Real Estate ISA candidates, with varying talents and capacities through your own recruitment efforts, or with a cost-effective partnering service that specializes in affordable full-time virtual assistant ISAs, like MyOutDesk.
Hiring an ISA for Real Estate (Inside Sales Virtual Assistant)
Focus on the bigger picture — close more deals & grow your business. How? With an experienced Real Estate ISA virtual assistant to operate a more efficient funnel, MyOutDesk cuts your costs (up to 70% on employment costs) all while helping you to scale business. To book an interview with those in our talent pool, click here.
Listen to LIVE Calls, Examples, and Scripts!
Your Real Estate ISA can do follow-up and appointment settings for your Buyer lead. In the call below, our ISA is calling to follow up on an inquiry on a specific property. She is able to ask the lead some qualifying questions and ask about some details that they need as well. In this call, she is able to set up an appointment so they can visit the property. Click below to listen.
Find more sellers and earn more commission with our Real Estate ISA’s. Our Virtual Assistants help our clients with this every day. Here’s an example:
We know that one of the best lead sources is Expired Leads. After your sphere of influence, expired leads are a great source because they are people raising their hands and saying “I actually want to sell but the last guy couldn’t.” Your Real estate ISA can be a huge help in closing these deals. We’ve got people trained to make these calls for you, listen to one such example below.
These are just a few of the thousands of calls our ISA’s make in a day. We have over 500 Real Estate ISA’s, each one hitting about 20-50 dials per hour having 20-30 conversations a day. That is at least 2,800 dials and conversations EVERY DAY. Are you able to focus on your prospecting as much? Do you want to be able to prospect at this level for your business? Would you like to “duplicate” yourself?
Our talented and motivated Real Estate ISA’s always have great scripts that they practice and role-play on a regular basis. One of the tried and tested scripts we have is the LPMAMA. LPMAMA stands for Location, Price, Motivation, Agent, Mortgage, and Appointment. This simple little script has led to many a closed deal. This is how it works.
Download Our Script
To help you out, we’d like to give you this script! You can download it HERE (2018 version).
Stay up-to-date >> We have MANY MORE timely & helpful scripts + downloadable strategy guides on our free consultation signup page, below.
Gain more leverage and time to work on your business instead of in it. Hire your Real Estate ISA and keep your pipeline flowing while you focus on your revenue-producing activities to grow your business!
Experience The Difference
MyOutDesk can save you up to 70% on employment costs
Did You Know? MyOutDesk’s origin story is set during the last global financial crisis of 2008. Yes, that’s right — our business started by scaling businesses with virtual assistants during a recession! Our first client in 2008 went from five to seventeen VPs with a completely revamped organizational model in short order, and he told MyOutDesk, “Our virtual professionals have shaved $250,000 off our monthly overhead.”