When your phone rings or you receive an inquiry from your website, how do you approach it? What questions do you ask? How do you sell your services? Do you sell yourself? What options do you provide? The effectiveness of these interactions determines your success in converting inquiries into closed business. Additionally, do you track this metric?
Handling Phone Calls
Calls should be treated differently than emails or website inquiries. Make an effort to answer your phone when it rings or have a service that does. Even if it’s just to gather their information and promise to call back with a quote once you’re back in the office. Often, leads get lost when you forget to return a call, they don’t leave a message, or it’s time-sensitive. Your Google Business Profile can give you a report of your calls, including missed calls.
When taking a call in the office, start with typical pleasantries and then ask the primary questions: “What is the address you need appraised?” Pull up its public record and MLS, and ask follow-up questions if needed (e.g., if the aerial shows solar panels, a tarp on the roof, additions, etc.). Then, the crucial question: “What is going on? Why do you need an appraisal?” Let them speak, then summarize their needs and ask follow-up questions to ensure you’re on the same page. This is important, as sometimes people call about loans, and you need to inform them that lenders typically order the appraisal, advising them to double-check with their lender first.
How did you hear about us?
Next, ask, “Who referred you?” or “How did you hear about us?” This information is very important. If you were referred, you want to thank the referrer. You can also track where your leads come from, whether it’s Google, an agent, an attorney, or someone else. This helps you decide where to invest your marketing efforts. If all your calls are from Google, spend time updating your Google Business Profile with fresh content. If referrals are your main source, spend more time with your CRM provider and on email campaigns.
Providing a Quote
Finally, I am ready to give a quote. First, I explain what is included in the appraisal: I will visit the property, measure it to confirm the size, review any updates or recent remodels, address any deficiencies, and provide a report with the home’s market value. If it’s for a listing, I’ll also give a recommended list price, marketing time, and a range of values.
I then give them multiple options: “The appraisal fee for an on-site visit would be $____, but we also offer a virtual/desktop appraisal for $____ , since we have current data from the MLS and public records for a reliable report. Which option would you prefer?” Providing options is crucial because if they got multiple quotes, they may wonder what type of appraisals the other appraisers were offering. This approach makes it more likely to convert this caller into a customer. I have some flexibility with my quote and enjoy friendly negotiation, but it depends on the caller and property. I have no issue being firm on my fee when necessary.
Handling Pushback
When a customer pushes back, such as questioning why I need the address, my response is: “If you want an accurate quote, I need to know what I am dealing with. A 1/1 condo appraisal is much less expensive than a 10,000 sq. ft. oceanfront home.” They usually provide the address at this point. I always ask for the purpose of the appraisal and keep asking in different ways if they are hesitant to give details. This is crucial, as some people withhold information. For example, I charge more for family law appraisals because they are always more difficult due to dealing with attorneys, spouses, scheduling, etc. If a caller is unwilling to tell me why they need the appraisal, I will decline the assignment. It’s always a red flag when a caller withholds important information. Trust your gut and do not take the assignment, even if you are slow!
Further Learning
To learn more about converting leads into assignments, check out our latest micro lesson (short lessons meant to be consumed in less than 10 minutes) at ReferAppraisals.com, available to all ELITE Members. If you’re interested in a FREE membership, join today and check out the latest newsletter for tips on responding to emails and website inquiries—your current responses may be costing you!
Dan Lindeman
Appraisal Referral Network
ReferAppraisals.com
