5 Reasons Why There Is No Magic Prospecting Script

I’ve recently had a number of my New to the Business (N2B) coaching clients ask me for prospecting scripts. They are new clients, and they are new to commercial real estate (CRE). Had they been with me for a while, they would have known not to ask. I want to share with you why in this post.

But first, a story…

Image of young upset female in quarrel with her husband

Image from shironosov via iStockPhoto.com

I’m in my 15th year of marriage. I love my wife more today than I ever have. She is incredible, and I count myself one of the most blessed men on the planet.

But…we still deal with conflict. She is not married to a perfect man. And despite her awesomeness, she isn’t perfect either.

Recently, we were dealing with some conflict in our marriage that had gone on for a number of days. My wife was frustrated with me. I was frustrated with the situation. Life in the Barron household was not smooth or enjoyable…at all.

I was talking with one of my mentors sharing with him the situation. I explained that I was wracking my brain trying to construct the perfect sequence of words that would miraculously bring my wife around to my way of agreement. There must be some perfect way for me to communicate my position which would render her helpless to disagree. Right?

He laughed. He is a serious man. I can’t remember the last time he laughed. I didn’t find any of this funny at all.

But explaining this story to you, it is funny. It is funny that I had believed a fallacy – a lie. The truth is…you can’t say X in such a perfect way that guarantees Y. None of us are a real life Heisenberg (if you get that reference, then you and I would be great friends).

The same is true in CRE prospecting. There are no magic scripts. There is no perfect sequence of words that you can say in a particular tone that will instantly persuade your prospect to meet with you. It just doesn’t happen.

So in case you don’t want to take my word for it, here are the 5 reasons why using a prospecting script won’t work for you.

The 5 Reasons A Prospecting Script Won’t Work For You

1. Your Prospects Are Different – They have different pain points. They have different needs. They have different motivations. No two of them are the same. That is why CRE is such a constant challenge. No two deals, prospects, or clients are the same.

2. You Don’t Commit Intellectual Suicide – Prospecting is about getting inside your prospects’ heads and understanding what problems and opportunities they have. That means you have to think. You have to react. You have to be proactive. You do not commit intellectual suicide to prospect.

3. Specialties In CRE Are Different – Line up 5 brokers in a row, each with a different specialty. There is no script on the planet that will work for all of them any conceivable amount of time. Different property types attract different types of people with different needs.

4. Asking Questions Is The Most Critical Skill – And how do you know what problems and opportunities exist for a prospect? You learn to ask great questions. My brother-in-law is a natural at this. It is a learned skill for me. Regardless, you need to get good at. Your competition is going to talk about themselves and their companies. You need to ask great questions and allow your prospects to tell you how to win their business.

5. System over Script – In prospecting, it is your system that is important, not the script. How do you warm-up a prospect? What are your ratios – your numbers? A system will produce predictable results over a long enough period of time. The system is what you tweak and improve.

Now don’t get me wrong. Having a plan for your prospecting calls is huge. You need to prepare. You need to understand the purpose of the prospecting call. You need to understand how to turn a call into a meeting. You need to understand the anatomy of a prospecting call. You need to utilize prospecting best practices.

You need to research and do your homework.

Being a market expert and implementing prospecting best practices gives you the ability to understand the need of the moment for your prospects and customize your solution, on the fly, so you can get a meeting.

To understand how to better do these things, I have two resources for you. The first is a prospecting infographic cheat sheet. It shows you what you need to be doing to drive the business you want. You can download it by clicking the button below.

Send me the prospecting infographic cheat sheet

The second is my brand new ebook – The Beginner’s Guide to Prospecting: The Proven Step-By-Step Process to Maximizing Your Income by Pursuing the Business You Want. You can download it for free by clicking the button below.

Send Me The Free Prospecting Ebook

So Question: What do you think? Do you agree that scripts are not the best way to generate business? What other reasons can you come up with? You can leave a comment by clicking here.

The 7 Proven Steps to Finding and Winning More Business

Do you remember the scene in Good Will Hunting where Robin Williams and Matt Damon are discussing the painting? Williams has this great line. “You know the real b**** of it? It’s paint by numbas [hear Boston accent].”

I’ve got some great cheat sheets for you. The first one is on prospecting, and you can get it at the bottom of this post. Can’t wait? Click here.

There is a real wisdom in the idea of paint by numbers.

What you need to know about finding and winning the business you want.

What you need to know about finding and winning the business you want.

In bootcamp, they taught us everything “by the numbers.” I’m not exaggerating. They taught us how to get dressed like a Marine – by the numbers. They taught us how to eat like a Marine – by the numbers.

The Marine Corps is fanatical about systemizing everything based on best-practices. They debrief after every exercise. What went well? What didn’t go well? What could be improved? The result of this disciplined approach to learning from everything is they have a specific way of doing everything. And it works.

The One Marketing Tool You Need to Drive Your CRE Business – Free Webinar

I remember the first time I saw a real property package. You know the ones I’m talking about. They are beautiful. Maps. Demographics. Graphs. Comps. All branded beautifully and consistently. I was blown away.

I had been in the business for about a year before I saw one. Our firm was small town CRE. Not only did we have relationships, but we had them going back generations. Business walked in our door. We didn’t have to compete or present (not much, at least).

Businessman having stress in the office

But then I got called into my first dog and pony show. I was one of three brokers who would present to win the business. I knew the other brokers would walk in with these beautiful proposals.

I spent days trying to create the package that would stack up. It was futility. I was beyond frustrated.

How You Can Become a Top Producer

So many settle for mediocrity.  I have done it myself.  I despise that place.  You can see others around you excelling at what they do – what you could do.  You may find yourself asking, “Is it even possible for me to have that kind of success?”  Good question.

The Four  Not-So-Secret

I started playing the guitar when I was 14 years old.  I was looking for something that I could be good at.  I had already realized it wasn’t going to be sports.  I took a few months of lessons and then kept playing.  By the time I got to college, I was OK at best.

Then Dave Matthews and Tim Reynolds played a show at my college.  They were incredible.  Two guys with their acoustic guitars on stage playing.  No band.  Just them.

The Answer to the Most Asked Question – CRM’s

As I coach commercial real estate professionals, the most asked question is, “What CRM should I use?”

What is the BEST CRM

To answer this, I always tell them the same story. Over a year ago, my church hired a new senior pastor. One of the first things he did was change the pew bibles from one translation to another.

I remember him giving the congregation a heads-up in a sermon about the coming change.

He asked everyone, “What is the best translation of the bible?” When he asked that question, I cringed. I knew how passionate people can get over this issue.

I thought to myself, “This may not be a brilliant way to start your time here.” But then he gave his answer. It was brilliant.

He answered by saying, “The best translation of the bible is the one you will read.” Great answer!

[Video] Ask Bo – A Question from Brian Fleming

In this edition of Ask Bo, Brian Fleming submits his question.  Brian is a CRE pro from Fort Lauderdale and wants to know my take on all the new CRE tech apps that seem to come out on a weekly basis.

How can you remain productive if you are spending all your time trying to learn new applications?  Great question.

I share the 4 essential CRE applications (or software) you absolutely need to remain competitive.  And I also share a huge need that the CRE industry needs.

Be sure to connect with Brian on these platforms:

Links from the video:

How The Voices In Your Head Can Hold You Back

I heard a great story this week that has had my wheels turning ever since.  I’m going to share it with you in a minute.

But first, I want you to consider how you talk to yourself – in your head.  I think I’ve heard someone call this self-talk.

eye

Photo by David Meier

The way I talk to myself holds me back all the time.  My first couple of years in commercial real estate, it held me way back.  I would talk myself out of making a call.  I would decide for a prospect that they weren’t interested…before I made the call.

This self-talk makes a difference.  What does the talk in your head sound like?  Consider this story.

A rich oil sheik decided he wanted to learn how to play golf.  So he built one of the world’s best golf courses.  It was perfect – gorgeous.

The sheik then invited a US club pro to spend two weeks with him on his new golf course giving him lessons. The pro accepted the invitation.

So the Sheik sent his private jet to collect the pro and bring him to the Middle East.  Once there, the pro spent two weeks in complete opulence.   Everything that he could have wanted was available to him.

The pro loved the course and very much enjoyed teaching the Sheik.

After 2 weeks, the pro was boarding the private jet to go back to America.  The Sheik, being very pleased with his two weeks of lessons, offered the pro anything.

The pro responded and told the Sheik that this had been the best 2 weeks of his life.  His hospitality and generosity were payment enough.

The Sheik insisted, asking the pro if he collected anything.

[Video] Changes Coming to this Blog + 2 Announcements

Video Notes

If you are a designer, or know one, who is skilled and experienced designing child themes for WordPress, I want to hear from you.  Shoot me a note in the comments section below and let me know how to contact you.

Announcements

The CRE Breakfast Club Free Webinar – Maximizing You!  Marketing and Sales in a Social World

The Great Commercial Real Estate CRM Debate hosted by The Massimo Group

The 3 Ways to Build Your Prospecting Database

I coach new to the business (N2B) commercial real estate brokers with the Massimo Group.  In my web-call with my newest group today, I was asked the question that I get asked most often.  How do I find the numbers for the prospects I need to be calling?  That is a key question, is it not?

For those of you who have never seen one of these - it is a Rolodex.  Ask your boss about it.

For those of you who have never seen one of these – it is a Rolodex. Ask your boss about it.

Do you remember the second half of 2008 – when the economy completely tanked?  You may recall how the sky was falling.  Everything changed.  Many in the CRE industry didn’t make it.

For the number of years before that time, a monkey could have made six figures.  Transactional velocity was everywhere.  Cap rates were compressing.  Capital was cheap and readily available.  Deals would just walk in your door.  But when the market turned, top producers kept succeeding while others fell away.  How did they do it?

The 30 Tools I Use For Productivity, Blogging, Social Media, & Travel (18 are free!)

I don’t know how many times I’ve said – “I wish I had more hours in the day!”

I’m sure you’ve had that sentiment as well.  Alas, 24 hours a day is all we get.  That isn’t going to change.  What can change is how much you can squeeze out of each hour.

30tools 3d cover

Before I go on, I want to make this point.  I’m not advocating becoming a workaholic – or even feeding that addiction.  I’m talking about getting more work done faster.  I’m talking about being able to have more time for what really matter.  Time for your family.  Time to take care of your health.  Time for self-development.  Time for care for your spiritual health.

Some of the most valuable posts I’ve ever read have been on the subject of productivity.  I consume that kind of information.  Everything I’ve learned about productivity apps has come from others or just tinkering with them.  All I’ve learned about traveling efficiently comes from experience and what others have shared with me.

So here is my resource list of the 30 tools I use on a regular basis to squeeze more out of every day.  I’m going to give you the highlights here, and you will be able to download it at the end of the post.

Productivity

When I did my reader survey last month, the subject of productivity was the number one topic of choice.  In this section, I give you my favorite free and paid tools for increasing your productivity.  And here’s a little hint – 1password and Tripit are completely awesome.  Awesome!

Blogging

Blogging has revolutionized my online presence.  It is not easy to do.  But it is so worth it.  The key to blogging well over time is to systematize it.  I have a few templates that I use for most posts.  It saves me a ton of time.  These are the tools I use to build my email list, optimize for SEO, etc.  These tools will save you a ton of time and allow you to maximize your ROI.

Social Media

I’m almost sick of social media.  I believe most people have accepted that social media provides value – sometimes a ton of it.  Though I’m sick of talking about, I use it everyday.  And if you’ve never heard or used BufferApp, you need to check this section out.

Travel

I traveled a ton for work last year.  I think I was on 65 airplanes.  If there is one thing I’m good at, it is navigating airports.  Traveling is a drain on your energy no matter who you are.  Being able to minimize the frustrations of travel while remaining productive saved me a tremendous amount of stress.  These are the tools I used to do it.

Bonus Section:  Recommended Books

As a bonus, I’ve included some of my favorite books in the following categories:

  • Platform building
  • Productivity
  • Business
  • Leadership
  • Stewardship
  • Parenting
  • Marriage
  • Commercial Real Estate
  • And others…

These are books that I’ve read and personally recommend.  I’m no expert in any of these subjects.  However, these are books that have helped me grow in these areas.

To download your copy of this free resource list, simply click the button below!

Download Your Free Resource List