When you're chatting up potential clients, do you know how to win them over? Having a great "elevator pitch" is essential for anyone who generates leads offline - Here are some ways to develop the perfect pitch that's right for you.
Let’s step into Easy Agent Pro’s time machine and head back to 2019 – you know, life as it was pre-pandemic.
You’re at your kid’s soccer game and chatting it up with other parents. Inevitably in these situations, someone will ask you what you do for a living.
Nine times out of 10, your answer will be something like:
While that succinctly answers the question, it may or may not spark interest nor does it necessarily entice further conversation. That is, with the exception of another likely question – “What’s the market like right now?”
Not a bad question to get, because it provides the perfect segue into proving your knowledge and authority in real estate. But there’s no guarantee it will be forthcoming.
Which is why you need an elevator pitch for real estate agents. Meant to be delivered within 20 to 30 seconds, consider as akin to your curb appeal. That’s how important the elevator pitch for real estate agents is.
Twenty to 30 seconds is actually considered an eternity compared to how long you have to make a first impression with your appearance. That one takes about a tenth of a second, according to Eric Wargo (citing a Princeton University study) at PsychologicalScience.org.
“Like it or not, judgments based on facial appearance play a powerful role in how we treat others, and how we get treated,” Wargo says.
The sad truth is that you’ll be judged first on your appearance, from what you’re wearing to your facial expressions.
Make it past that one-tenth of a second and you’re golden – time to roll out the quick elevator pitch for real estate agents.
And, yes, 20 to 30 seconds isn’t a whole lot of time, but consider this: You are routinely forced to market someone’s home in the MLS with a smattering of words.
That number does vary across the country, but it’s never enough to convey what needs to be conveyed.
For instance, we understand that in Louisville, KY, agents are limited to 800 characters in the public remarks section of their listings.
Agents who work in the Sammamish, WA market are allowed only 500.
You’re used to this. An elevator pitch for real estate agents should be no problem.
It’s critical to have a polished, compelling elevator pitch when responding to online leads.
For instance, while perusing the posts on the local NextDoor.com neighborhood page, one first-time homebuying neighbor posted her need for referrals to a “good realtor in the area.”
There were only three responses from local agents and they were so similar it’s scary.
“Hi! Im [name], a local realtor, born and raised in [city]. I would love to answer any questions you have and I am available to help with any real estate needs! I have a 5 star rating and am experienced with 1st time buyers up to million dollar listings! I go the extra mile for my clients and I think that’s why my clients are good friends beyond just work.”
She then added her phone number with an exclamation point and “I look forward to hearing from you! Have a fabulous day!”
There is so much wrong with this, we don’t know where to begin. From the lack of proper punctuation to the overuse of exclamation points, she comes across as far from an authority and quite hysterical.
The next response:
“I’m a Realtor in the area. I always go above and beyond for my clients! Working with a first time buyer at the moment, we negotiated for a lower price in a very tight market! Let me know how I can make a house, YOUR home 🏡.”
Notice how both agents’ USP is almost identical? They “go the extra mile,” or “above and beyond” for their clients. WTH does that mean, anyway?
Then, there’s that SO overused ending – “. . . make a house, YOUR home,” with the cutesy, unprofessional little house picture.
Then, there’s agent number three:
“Hey! 🙂 I’m a local real estate agent in your area if you still need some help! My number is [phone number] and my website is [URL].
I’d love to talk to you more about how I could help you! Regardless, congratulations on looking for your new home!”
Her first sentence is almost identical to the previous agent’s. And the smiley face after the greeting doesn’t exactly convey professionalism.
When stuff like this becomes trite, it’s time to understand that the “unique” in your USP isn’t actually unique.
Absolutely nothing these women stated differentiated them from one another. I wouldn’t have contacted any of the three – how about you?
As a real estate agent, you solve certain problems. And, “… being able to succinctly convey what problem you solve is a real art …” according to Allan Dib, author of “The 1-Page Marketing Plan, Get New Customers, Make More Money, And Stand out From The Crowd.”
A succinct elevator pitch, according to Dib, is 30 to 90 seconds in length. It’s also easy to understand and not overly self-focused.
“Good marketing takes the prospect through a journey that covers the problem, the solution and, finally, the proof,” according to Dibs.
How does he suggest that you get this across in 30 seconds? Here’s his formula:
“You know [problem]? Well, what we do is [solution]. In fact, [proof].”
Put in real estate terms, Dibs’ formula may look like this:
“You know how there are so few homes for sale right now? Homebuyers are having a real problem finding a home. Well, what we do is actively promote our buyers’ needs to homeowners in our database who’ve expressed an interest in selling. This works so well, in fact, that we’ve found homes for 25 buyers just this month.”
Or, this one:
“A lot of homeowners are afraid they’ll end up homeless when they have to sell their home before buying another. We specialize in working with these homeowners and use strategies that have proven quite successful. In fact, we’ve never had a client end up homeless or stuck in a temporary rental.”
You get the idea, right? Consider the prospect’s pain point and craft your pitches to prove you can solve their dilemma.
Play around with the formula. As long as you keep it consumer-focused and not self-focused, you’ll end up with a winning elevator pitch.
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