Real Estate Foreclosures – A Real Estate Agent's Guide (Part three)

"The 20/50/30 Rule & the Anatomy of the Perfect Lead"

Y ou've hear of the Pareto Principle proper? If not, it's the 80/20 rule that economist Vilfredo Pareto developed by way of his analysis.

I guess you haven’t heard of the 20/50/30 Rule, although … proper? It works hand-in-hand with the 80/20 rule for leads and is extra centered on lead qualification.

The primary premise is that this:

20% of the prospects that you simply contact will do enterprise with you simply . There are a number of explanation why, however the guidelines on dealing with them are the identical regardless.

  1. Get out of their approach, and make it as straightforward as attainable for them to do enterprise with you.
  2. They consider what you say is true and have an general good feeling about you.
  3. They consider you’re expert at what you do and belief which you could ship what they want.
  4. These forms of leads are like Gold – get out of your personal means and get to the purpose. What do you have to do? Close the deal !!!

The subsequent 50% of prospects are on the fence . They might go both means, and you must work with them to ensure they fall in your aspect of the fence. Here are some methods to assist your trigger:

  1. Make a compelling presentation with confidence.
  2. Make positive you tailor your presentation to suit their particular person behavioral type .
  3. Help break the ice with them, so they really start to such as you .
  4. Make positive that you simply talk successfully the advantages that you simply convey to them. What do you have to do? Close the deal to be able to then transfer them to the 20% that may do enterprise with you simply.

The final 30% of prospects are issues ready to occur . Their traits are:

  1. They are extremely demanding.
  2. Usually have restricted respect for you.
  3. You will expend super power with them.
  4. You will expend big portions of time with them. What do you have to do? Throw these leads away – the conversion price is just too low, and the power wasted could be very excessive.

So, what does this should do with Foreclosures and the anatomy of the right lead?

Well, people who find themselves in Foreclosure (or some state of it) are very motivated. Most of them are within the 20% group, and those which are within the 50% group are sometimes gained over very simply with correct positioning of your self. In different phrases, for those who can set up your self because the Foreclosure professional in your space, you’ll get their enterprise.

How do you grow to be an skilled? Find out under …

Source by Dan Matejsek

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