Learning and implementing the LPMAMA buyer’s agent script is vital when striving towards leveling up as a real estate agent. This script is designed to help agents guide their prospects through key points of an effective sales conversation so that they have the best chance of gaining a new client and closing the sale. It’s perfect for experienced agents who already have expertise in the industry but may be looking for additional tools for building deeper relationships and getting prospects engaged. Utilizing this method will help you stay consistent while speaking with new prospects and increase your chances of success dramatically.
What type of lead does LPMAMA Buyers Agent Script work best with?
Are you looking for the most effective script to use when talking to internet buyer leads? The LPMAMA buyers agent script is one of the best tools in a real estate agents arsenal in regards to helping them with their buying process initially. This ingenious script is designed and refined to identify a buyer’s needs and desires quickly, ensuring that you can establish trust with potential customers seamlessly. Easy to remember but comprehensive in its structure, the LPMAMA buyers agent script continues to be the go-to sales tool for successful realtors and teams that specialize in internet leads. Investing time in this powerful methodology will help to raise your close rate while on the phone with internet leads.
How to use LPMAMA correctly in 2023?
After learning the LPMAMA script, the next thing you will want to do is to practice using it to the point where it becomes muscle memory. For some, this may be a couple of hundred repetitions, and for others, it may take much more than that. Either way, get it down where it becomes second nature.
To correctly use the script, you simply run through the acronym and ask questions based on the order of the acronym and what each letter stands for. We’ll go over exactly what each letter means in the next session.
The more it doesn’t seem scripted, the better, and you will find that this script helps you to build rapport and naturally walk your potential client down a path that will greatest serve you both. Being on the same page is right where you want to be.
What does LPMAMA stand for? Deeper Dive
LPMAMA stands for Location, Price, Motivation, Agent, Mortgage, Appointment. We find that working through these items, in this specific order, is the most natural path for a realtor to guide a buyer down within the real estate buying process. Below we will delve into what each word in the LPMAMA framework stands for.
Location
Location is often the first thing a real estate agent will ask a prospective client about as it is one of many factors that buyers consider when searching for a property. The location of a property can impact its value, as well as the demand for it. For example, properties located in popular or desirable neighborhoods may be more expensive and in higher demand than properties located in less desirable areas.
Asking a prospective client about their preferred location allows real estate agents to narrow down the search and focus on properties that are most likely to meet the client’s needs and preferences. This can help to save time and make the process of finding a property more efficient for both the agent and the client. Additionally, by gathering information about the client’s preferred location, the agent can provide valuable insights and recommendations about the local real estate market and help the client make an informed decision.
Price
Price is often the next thing a real estate agent will ask a prospective client about after location because it is another important factor that buyers consider when searching for a property. Understanding a client’s budget can help the realtor narrow down the search and focus on properties that are within the client’s price range. This can save time and help to more easily identify a property for the client.
Additionally, by gathering information about the client’s budget, the agent can provide valuable insights and recommendations about the local real estate market and help the client make an informed decision. For example, you may be able to suggest properties that are the best deal for the price or help the client understand how their budget compares to the average price of properties in their desired location.
Motivation
Motivation level is often the next thing a real estate agent will ask a prospective client about after location and price because it can help the agent understand the client’s needs and preferences, and tailor their search accordingly. Understanding a client’s motivation level can also help the agent gauge the level of interest, time frame, and commitment the client has in finding a property.
For example, a client who is highly motivated to buy a property may be willing to put in more effort to find the right property or may be willing to pay more for a property that meets their needs and preferences. On the other hand, a client who is less motivated to buy a property may be more hesitant to commit to the process or maybe more selective about the properties they are interested in.
By understanding a client’s motivation level, the agent can tailor their search and marketing efforts accordingly and provide valuable insights and recommendations to help the client make an informed decision.
Agent
Finding out if the buyer is already working with another agent or not is the next thing that a real estate agent should ask a prospective client after discovering their motivation level.
It is important for you to understand if the client already has an agent, as this can impact your role and responsibilities. If the client already has an agent, the agent will want to refer the client back to their own agent for further assistance.
What you are looking for is prospective buyers that are in need of a realtor and that aren’t already working with another agent.
In either case, it is important for the agent to communicate clearly with the client and establish the terms of their relationship from the outset in order to avoid any misunderstandings or confusion.
There are some questions you can ask people that may be a softer and better approach than coming right out and asking them if they already have an agent or not. We like to use something like this:
“Do you prefer looking at homes online or in person?”
“Have you started the process of viewing any properties in person yet?”
“Are you committed to working with any agents already?”
These types of questions will get a buyer lead talking and hopefully open them up to clarifying if they are interested in committing to you as their real estate agent.
Mortgage
Asking if the client would like a referral to a good mortgage lender is the next thing that a real estate agent should ask a prospective client after establishing whether the client already has an other agent or not.
Asking about how they plan to finance their purchase is an important step in the process of helping the client find and purchase a property. A good lender can help the client get pre-approved for a mortgage, which can make it easier to identify properties that are within their budget and negotiate with sellers. A lender can also help the client understand the terms of their mortgage, including the down payment and monthly payment amounts, and advise them on the best financing options available.
By working with a good lender, clients may be able to secure a mortgage that meets their needs and helps them achieve their real estate goals. It is important for many agents to understand the client’s financing needs and preferences, and to be able to provide helpful referrals and guidance as needed.
One of our favorite ways of finding out if they need a lender or not is to simply ask:
“Do you plan to pay cash for this property?”
The key to this is you are assuming the client has cash. Even if it is more likely that they will in fact need a loan. Assuming they have cash strokes a person’s ego much more than assuming they are less financially capable and need a loan. We know that it’s not a problem either way and don’t really care for that matter. We find that this is a more nuanced and nicer way to go about talking money.
The funny thing is that one would think that coming straight out and asking if they have cash or not may be more impolite. However, we find that this is the better approach as stated earlier.
Appointment
Trying to make an in person appointment with prospective clients. And this is no different when it comes to scripting the LPMAMA framework. The more leads you have, the more appointments you will be able to set, and the more appointments you set, the more deals you will close. Simply put, this is how the process works.
It is important for a real estate buyer’s agent to set in-person appointments with clients because it allows the agent to build a personal relationship with the client, understand their needs and preferences, and provide valuable guidance and assistance throughout the process of finding and purchasing a property. In-person appointments also provide an opportunity for the agent to show properties to the client, answer questions, and address any concerns the client may have.
The locations of these appointments may vary depending on the client’s needs and preferences. For example, the agent may meet with the client at their office, at a property that the client is interested in, or at a public location. A coffee shop is typically a good bet.
The agent needs to be flexible and accommodate the client’s schedule and preferences to make the process of finding and purchasing a property as convenient and enjoyable as possible. In-person appointments are an important part of building trust and establishing a positive working relationship with clients, and they can help to make the process of finding and purchasing a property more successful for both the agent and the client.
Wrapping Up
LPMAMA is a clever acronym that can give real estate agents everywhere an edge when helping buyers find their dream home. It stands for Location, Price, Motivation, Agent, Mortgage and Appointment. All of which are essential pieces in any buyer’s jigsaw puzzle! With this system in place to guide your search process you will be well equipped to making the perfect match between client and property.
Agents can provide the best help and advice to clients when they understand what’s important to them. Through conversations, agents learn about factors like location, budget and motivation level that inform their marketing efforts – and ultimately guide clients in making informed decisions. Face to face appointments also creates a chance for real relationships with customers: personalized assistance every step of the way helps ensure everyone reaches their property goals together!
