Do you have an elevator pitch? You know, it’s that short, concise explanation of what you do. If you don’t have one, you probably think you should. However, now’s the time to get rid of the pitch for a more effective approach.
Why Was the Elevator Pitch Concept Created?
Imagine you’ve just bumped into an old contact as you get on an elevator. Your contact asks what you’re doing these days. What’s your response? For most people, it’s difficult to come up with a way to describe what they do on the spur of the moment. Further, the answer “I’m selling real estate” is a great conversation-stopper, so you certainly don’t want to say that!
What is the Purpose of a Real Estate Elevator Pitch?
The elevator pitch was named because it’s supposed to be something you can say to someone who is riding the elevator with you. That means it needs to be short because elevators these days don’t take long to go from the lobby to your desired floor.
Some experts say that you should use an elevator pitch to “spark interest in what your organization does… to create interest in a project, idea, or product – or in yourself.” As a real estate agent, your goal would be to spark interest in yourself and what you do to help the person you’re speaking to.
But, is sparking interest enough? Isn’t the real objective to connect with another person? And to start a relationship that will translate into making that person or people they know into a client? Sure it is. So, you need to ask yourself if a real estate elevator pitch is really what’s going to help you do that. The answer is typically, “No!”
What’s a Better Approach?
If you want to create a connection, it’s best to start a conversation, not simply bore the person with a canned speech that’s all about you. The best way to start a conversation is with a question. From there, you build on the other person’s answer. Here are some examples:
- You: Are you or anyone you know planning to buy or sell a home this year?
- Prospect: Well, my brother has been talking about needing a bigger home.
- You: I help people like your brother find the right home and complete the transaction with confidence.
That’s a pretty generic approach. It gets better if you’ve identified a niche. For example:
- You: Have you or anyone you know wanted to work with an expert to buy or sell a horse property in our area?
- Prospect: Yes, a friend of mine bought a horse property last year and wished her agent knew more about what to look for.
- You: I help people like your friend buy or sell horse properties with confidence because I specialize in that type of real estate.
You can also use a real estate related question, for example:
- Did you know that you typically pay more if you contact a home’s listing agent for help?
- Do you know what can go wrong when you’re closing on a home?
After your initial question and response, you do need to have information that will prove your point. So, you still need to write out and practice what you will say next, but you need to include questions in that content to keep the conversation going. Who knows – your contact may be so interested in the discussion that they’ll follow you off the elevator!
Where to Go From Here
Now’s the time to sit down and develop your own questions and possible responses. Your responses give you the opportunity to talk about the showing solutions that make you a great listing agent, or the real estate agent software that keeps you and your clients on track.
Are you ready to increase your leads? Ask questions or make discuss your real estate elevator pitch in the comments below!