The Best Real Estate Agent Elevator Pitch
REALTOR Elevator Pitch Example and Template
What is an elevator pitch?
A real estate agent elevator pitch is a crucial step in building your real estate business. How you respond to the question, “what do you do” can have a lasting impact on the person you are having a conversation with or it can have little impact. Your elevator pitch is your quick response to someone asking you what you do for a living.
Normally, we are tempted to respond with, “I’m in real estate,” or “I’m a REALTOR,” but why respond with a generic response when you can use this as an opportunity to create an impression and discuss your unique selling proposition?
The main problem with this is people have preconceived ideas when you say you are a real estate agent. Don’t let their notion of a real estate agent cloud your unique selling proposition (USP).
Regardless of the elevator pitch you choose, it’s almost guaranteed that you will need to then answer the most important question in real estate.
“That’s great. How is the market?”
If you are interested in knowing how to respond to this then read on!
The Best Elevator Pitch for Real Estate Agents
In this post, video and podcast, you will learn the most simple elevator pitch ever. This is perfect for a new or experienced real estate agent.
First off, let’s discuss a few ground rules.
1. 20 Seconds or less - You don’t want to make this long. People have short attention spans. Make it quick and memorable.
2. Do not start by saying you are a REALTOR® or real estate agent - Everyone already has an image of what a REALTOR does. Don’t lead with this. Instead, use this as an opportunity to showcase your unique selling proposition.
3. Have energy and enthusiasm - Use your elevator pitch to show how excited you are about real estate. This simple element can make a B+ elevator pitch seem like an A+. Also, it can make an A+ pitch seem like a D- if you don’t use enthusiasm.
4. Use questions to continue the conversation - The elevator pitch is a conversation starter. It’s not just you speaking about your work. Keep the conversation flowing after the elevator pitch with strategic questions.
This elevator pitch is from Allan Dib and can be found in his book The 1-Page Marketing Plan.
Here is the formula:
You know how X? Well, I Y. In fact, Z. Call to Action
X is a problem or pain point.
Y is your answer or solution.
z is your proof
The pivot to your call to action (CTA) - Personally, I like to lead to the CTA with a question
It’s that simple
“You know how X?” - This is the pain point
Examples:
“You know how hard it can be to sell a home in this market?”
“You know how challenging it can be to navigate the first time home buying process?”
“You know how it's crucial to sell your home with an area-specific professional?”
“Well, I Y” - this is the answer to their pain point.
Examples:
“Well, I have a proven system to make seller's homes stand out on the market.”
“Well, I simplify the whole home buying process for first time home buyers.”
“Well, I focus on helping exclusively sellers in this neighbourhood.”
“In fact, Z“- this is the proof.
Examples:
“In fact, we have successfully helped 15 sellers this year.”
“In fact, I am helping 3 first time home buyers as we speak.”
“In fact, I sold 21 homes in this neighbourhood last year.”
Call to Action (CTA) - this invites the next step
I like to lead into my CTA with a question. The question is strategic as it prompts the CTA depending on their response.
Examples:
“Do you keep an eye on the market in your area?”
This is one of my favorite CTAs. It invites the lead or prospect to consider discuss their market and most people respond to this by saying: “I keep an eye on Zillow” or “Not really, just what I read in the news”
Perfect!
This means you can now proceed with your CTA.
“Would you like to keep up to date with the sale prices in your area? Most of my clients love getting these monthly reports”
This wording is strategic. I ask them if they would like to see sold prices (not merely listings). This is higher value than just seeing listings.
Next, I let them know that most of my clients love this information. There are two techniques at play. First using the word “clients” indirectly has them think that by agreeing, they are also my clients. Next, I say that my clients “love getting these…” This is when FOMO kicks into gear and people don’t want to miss out since everyone else is getting these reports.
This structure is magic! Before you know it, every time someone asks “what do you do,” you will have a new person to add to your database.
Here is another effective CTA
“If any of your friends, family members, or co-workers are thinking about real estate, I would be happy to chat with them. Does anyone come to mind?”
I’m giving them people to consider. If I just say “anyone” thinking about real estate, it is not specific enough to conjure an image of someone. Saying “friends, family, or co-workers” brings people to mind.
Then ask if anyone comes to mind. This may feel uncomfortable but this final line is where the leads are hiding. By asking a question, their mind immediately starts thinking through people. Even if they say “no,” you have planted a seed in their mind. This is still a win!
That’s it! It’s a very simple but effective elevator pitch for a real estate agent!
How’s The Market?
This question will find its way into almost every conversation in real estate. Your response to this will either be a lead generation gold mine or a conversation kill.
Do Not Say - “Good”, “Bad”, or anything in between.
Your response is a question.
“We are in an interesting market right now. Which part of the market interests you most?”
You start by commenting on the market being interesting. This piques their interest in the conversation. You then ask them about the market segment.
You don’t need to be prescriptive with what you are looking for. They may say that an area, a property type, a price point, or a combination.
Their response will dictate how you will answer the question “how is the market.”This provides specific value to the prospect and it shows you are a market expert.
I know what your thinking. What if you don’t know enough about the market or their area?
Although you should be studying the market daily, there is a quick hack you can use to answer this question. You just need to know how property types and prices are behaving. For example, you need to know how apartment condos are responding compared to detached houses. That way even if you don’t know their area, you can comment on their property type. Also, knowing prices takes the conversation deeper. You only need to know how each of the following markets are behaving: entry-level prices, move-up homes, and the luxury market
Listen to the original podcast below!
Podcast Transcript
[00:00:00] Hello and welcome to Rev Real Estate School. The podcast with quick tips and actionable advice to help you sell more real estate in today's world. And now your host Michael Montgomery.
[00:00:12] Hello and welcome to another episode of Rev Real Estate School, I'm your host Michael Montgomery. Today we are talking about the real estate agent elevator pitch. If you don't know what an elevator pitch basically it's a quick response to the question, "what is it that you do". Yesterday we were talking about networking events and we are talking about events in general and how we can connect with people at these events if you are at these events a very very high chance that you will be using your elevator pitch.
[00:00:42] So you want to perfect this and you don't just want to respond with, "what is it that you do and you answer." "I'm a realtor or I sell real estate" and in a lot of ways that can be a conversation killer. You're not giving the other person anything to work with there. Now they may follow up and they may ask how's the market and that sort of thing. But chances are it's almost just a conversation ender because everybody knows what a real estate agent does. Many people do anyway. Therefore, if you bring that up they already have an image in their mind of what it is that you do. Instead, you want to paint the picture for them and with your elevator pitch and you don't have long because if you drag it on for too long you are going to lose them. So it's quick it's effective. You have to use enthusiasm and confidence in what you say and it does have to be pretty dialled in.
[00:01:28] Let's jump into how that looks. First off a few ground rules. Number one is to make it shorter than 20 seconds. You have 20 seconds is just kind of that rule of thumb. You don't want to go over that. Number two does not start by saying you are a realtor or you are a real estate agent do not lead with that. So you can get into that as time goes on but don't lead with that. Number three is to have energy and enthusiasm. This shows not only confidence but also excitement in your career. You want to show that person that you're very excited to be in real estate that you love it because that is contagious. And when they can feel that and they can see that there's a higher likelihood that they will remember you in the future. Those are the ground rules.
[00:02:15] Now to jump into the elevator pitch this comes from the 1-Page Marking Plan by Alan Dib. I will link it up in the show notes. There's a lot of good information here but I absolutely love his elevator pitch. It's so simple. It's something we can all do and it's very very clear. It works like this you need to have a problem a solution and then proof. It's very simple it's three lines and it goes like this when somebody asks you what it is that you do and I'm going to use letters here but they can be a number of different things. You will respond by saying, "well you know how X," (which is the problem). "Well I Y," (which is the solution). "In fact Z," (which is the proof) and then you follow that up with a call to action.
[00:03:06] How does this actually look what you're saying is you know how certain people have X (struggle). Well, this is why how I fix it and then Z here is the (proof). How does this look for a real estate agent? And it's very very simple. It's just three quick lines and then a call to action at the end. Let's jump into how this looks like a new real estate agent and this is also your chance to differentiate yourself. So you do want to use your unique selling proposition in this. You want to differentiate yourself as we said off the start. When you say you're a realtor or a real estate agent people already have an image in their mind of what that is. So you want to change that. And this is your opportunity to do that.
[00:03:48] For example right off the bat you know how X. So somebody says What is it that you do. You can say you know how hard it can be to sell a home in this market or do you know how challenging it can be to navigate your first-time home buying process or do you know how crucial is to sell your home with an area-specific professional. So these are the problems these do you know how X now we're going to jump into Y so well I... And then your answer to the pain point so if it was the first one. Well, I have a proven system to market seller’s homes to really stand out in this market or will I simplify the whole home buying process specifically for first-time homebuyers or the third one will I focus on helping exclusively sellers in X neighborhood. So you've given an answer to it. So you know how it can be challenged. It can be a challenge to sell a home in this market. Well, I have a proven system that helps seller’s homes stand out in this market. And now you move on to the last line which is in fact. So this is the proof. So in fact we've successfully helped 15 sellers this year. Or in fact, I'm helping three first-time home buyers right now or in fact, I've actually sold 21 homes in this neighborhood last year. So it's you know how X. Well, I in fact Z and then a call to action soon after you've done that. This invites basically the next step. After you've gone through these three lines invite the next step of Oh you help first-time homebuyers. Well, my niece is looking for a home. And oftentimes one of the objections that you'll get around this is you start to think in your mind. OK. Well if I say only help first-time homebuyers. Does that mean that if somebody can move up buyer they're not necessarily going to want to work with me? Maybe but highly unlikely. It's much more likely that they'll start to think of people that could be first-time homebuyers within their network whereas if you just said you were a real estate agent that might have just ended the conversation right then and there.
[00:05:52] You're not actually putting yourself painting yourself into a corner here. What you're actually doing is giving yourself more opportunity to help people and as a new real estate agent oftentimes people can shy away from wanting to really get down and get a specific niche. But in real estate, we need to have a unique selling proposition. There are too many agents out there and no matter what market you're in you're competing with a lot of agents out there. You need to have a unique selling proposition and that should be built into your elevator pitch.
[00:06:23] Another hack with the elevator pitch is you also have to determine who it is you're dealing with. So if you are talking with somebody who currently has their home for sale by owner you may tailor that to you know how it can be challenging to sell your home in this market. Well, I have a system that will very much help get your home in front of as many people as possible so you'll probably use an elevator pitch like that if you're dealing with somebody who's the first sale by owner versus you something like Well all I do is help buyers or something like that. So you do really want to make sure that you are tailoring it to the person that you're talking to but also be confident about the fact that you do have a specialty. And even if you don't have a specialty right now think about the things that do differentiate you as a person as a salesperson. It can even be your market knowledge of your community knowledge anything that you would like. There's a number of different things that you can quote-unquote specialize in real estate and you really want to leverage that in your elevator pitch. It will not limit you.
[00:07:25] It will not limit you it will actually bring more business to you. If you look at your market chances are the people that are doing the most business do farm or geo farm an area or have a specific group of people they work with. And that's because this actually leads to more opportunities. It doesn't limit you when you do build a niche.
[00:07:46] That's it for this episode. Just remember with your elevator pitch. Three lines you know how the problem. Well I solution in fact proof that's it super simple. Thank you so much for listening to this episode I really appreciate it. Remember all you have to do to ask a top producer anything rate and review the show and then just let us know on our Web site. Go to the free coaching section and jump on the phone with a top producer to ask them anything that you have on your mind.
[00:08:14] Thanks again for listening and we'll catch you in the next lesson this episode of Rev Real Estate School has come to a close. Thank you for tuning in. We'll see you back here for the next lesson.