BAM had just finished a cold calling event when Lee Barr, an agent on my team in Connecticut, walked into the room. I asked if he wanted to go on the appointment I’d just set for Friday.
Lee had been paying attention to the phone conversation—he knew I set an appointment. He also knew I’d be back in Florida on Thursday. So, naturally, he called me out.
What it Takes to Set an Appointment
You know to expect objections during a cold call. And you have to be able to handle those objections in order to set an appointment.
During this call, the homeowner had accepted an offer and went under contract—but then the deal fell through and it never sold. So, I knew a couple of things:
- The deal fell through because the buyer was unqualified
- The homeowner agreed to a price once before—and would likely agree to it again
When setting this appointment and listening to the initial objections from the homeowner, I stuck to two main points:
- My goal is to generate qualified buyers
- I’m going to get you the price you want
But, as Lee pointed out, setting the appointment and then showing up to do a CMA are two different things. And, once seeing the property in person, it’s likely the homeowner’s asking price may be too high.
Keep in mind, Lee knocks these appointments down left and right. He built his business on expireds. So, he understands, going into it, there may be an objection he has to handle.
But the first objection to handle is getting in the door.
Setting a Listing Price
Once you secure the appointment, you need to show up as a professional and set a listing price that is consistent with market value.
Tom Toole gave some advice to help set the expectation that you need to see the property before giving a price:
Sometimes, you’ve gotta tell them, ‘Hey it looks like the home should sell for this,’ but you haven’t seen the property yet. ‘It would be malpractice for me to give you a price over the phone. All the more reason we should get together for an on-site evaluation.’
This way, the homeowner knows you are going to do your due diligence and discuss prices that are comparable to other properties in the area.
From there, take a look at the marketing from the previous agent, because that just may be the thing that deterred qualified buyers in the first place. And if the homeowner is still set on a price that you believe is too high, talk to them about when a price adjustment may come into play.
I would also not be shy about listing the home at the previous asking price if the marketing’s all f***ked up…Get the marketing right, first, and then go for the price adjustment in two weeks. Because it doesn’t matter who’s right or wrong about the price. What matters is the agent who collects the commission check.
Appointment Follow Up
Tom also suggested we do a follow-up to unpack these appointments and report back to learn what happens with them. Because, if this lead goes all the way through the funnel, it could be really valuable to analyze what happened every step along the way.
And I agree—having Lee there to walk us through the appointment and what happens next will provide a real-life example other agents can use when setting their own appointments and following through with them.
Reflect on Your Strengths
Tom and I also agreed that team leaders, especially those who are out of production, need to do this type of work more often. Knowing what works in today’s market is critical to the success of every agent—and every team. But there’s a difference between knowing what works and actually putting it into practice.
They need to see us doing this stuff more because there’s a disconnect now that we’re out of production. They want to do this stuff, and they hear how great we are, but we’re not doing it anymore.
This is what I fell in love with about the real estate business: winning the deal over the phone—winning the appointment.
Take some time this week to reflect on what you love about the real estate industry. What are your strengths? And what strategies can you return to in order to elevate your business? Then, follow through and start doing more of what works.
