10 Mike Ferry Scripts to Generate & Nurture Real Estate Leads
This article is part of a larger series on Real Estate Lead Generation and Marketing.
Mike Ferry scripts are effective tools for agents and brokers to have in their tool belts to connect with clients and generate leads for their real estate business. Each script is designed to interact and combat objections with different prospects, like buyers and sellers, expired listing leads, for sale by owner leads, and past clients. Download all 10 scripts and then read through them to learn how they work and tips to help you confidently incorporate Mike Ferry scripts into your conversations.
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1. Just Sold or Just Listed Script
Real estate agents use just listed or just sold scripts to leverage properties they have sold to generate more leads in a specific geographic area. They can ask these individuals if they are considering moving, also known as circle prospecting, and showcase the marketing materials and work they’ve done with the recently sold property. This is an effective way to generate leads and highlight expertise in a particular area.
Eric Jon Melnikoff, a Keller Williams Realty broker, exemplifies Mike Ferry’s Just Listed/Sold Script. He employs a friendly tone to build rapport with potential sellers and emphasize his role in recently sold properties.
Key Takeaways:
- Show off your skills by highlighting the marketing and advertising efforts you put into selling a past property and explain how these methods can help the sale of their home.
- Become an expert in a specific geographic area so you’re the go-to real estate professional.
- Get to know your caller by asking them questions about their future plans.
- Schedule a face-to-face, or virtual face-to-face, appointment to move on to the next steps.
2. FSBO Script
A for-sale-by-owner (FSBO) lead is someone selling their house without a real estate professional, either due to past agent-related issues or to avoid broker fees. Agents can use an FSBO listing script to persuade sellers to choose them over working independently.
Rick Colton of Colton Lindsay Realty used Mike Ferry’s FSBO Script during a live call with an FSBO lead. He skillfully adapted the script and adeptly addressed objections by actively listening, mirroring objections, identifying underlying concerns, and empathizing with the prospect’s concerns.
Key Takeaways:
- Keep your FSBO scripts clear and straightforward.
- Show genuine interest and pay close attention to what homeowners say.
- Respect their decisions. Don’t make a follow-up call if they turn down your services.
- Provide your contact information in case they decide to list with an agent later.
- Bring up past FSBO leads you’ve assisted or other sales where you went above and beyond for the seller to demonstrate how you can help them.
Organize your leads through REDX’s Vortex (Source: REDX)
To find FSBO leads, agents can visit Zillow, Craigslist, or their local multiple listing service (MLS) systems. However, a simpler approach is to buy leads via a lead generation company like REDX. REDX offers real estate professionals a robust prospecting tool to generate listing appointments. The platform includes FSBO lead sources, expired leads, seller leads, and a lead management tool that simplifies follow-up.
3. Expired Listing Script
Expired listings are properties left unsold after their listing period. Agents can locate leads for expired listings through the MLS, networking with peers, or public records. Clients whose listings have expired are typically unhappy that their house didn’t sell with the previous agent, so it’s important to stay positive and approach these calls with empathy.
The Mike Ferry Expired Script was featured in a live role-play of a listing appointment call between two top-producing North American real estate agents. Observe how they handle objections by explaining their unique marketing approach that has proven more effective than previous agents they’ve partnered with.
Key Takeaways:
- Employ drip campaigns for expired listings to nurture leads over time.
- Utilize SMS marketing campaigns for open houses and display readiness for business.
- Send eye-catching direct mail like brochures and postcards to schedule appointments with expired leads.
- Deliver a property-focused marketing presentation highlighting overlooked features and sales strategies.
4. Center of Influence or Past Client Script
The center of influence or past client script is used to contact people who already know, like, and trust you. It’s not about merely “keeping in touch,” but about uncovering their upcoming real estate needs or potential referrals. Keep track of past clients and maintain a good relationship using customer relationship management (CRM) software that automates reminders for important events like anniversaries or birthdays.
Mike Ferry Organization’s Vice President Tony Smith advises utilizing your center of influence or past client databases to maintain and nurture connections. His video below recommends consistently sending mailings to your previous clients, like postcards distributed quarterly, to touch base, strengthen relationships, and generate new leads.
Key Takeaways:
- Update clients on market changes, including favorable shifts and other significant developments.
- Establish a real estate client follow-up system to manage multiple past clients.
- Send postcards with information on newly listed and recently sold homes to previous clients.
- Prepare pop-by gifts for in-person visits to strengthen relationships with past clients.
View Pipedrive’s dashboard (Source: Pipedrive)
If you’re in search of a real estate CRM to assist you in nurturing and maintaining client relationships, Pipedrive is worth considering. This platform efficiently organizes your sales process and tracks your progress to help you achieve your sales targets. It also offers valuable data analytics on sales, automated administrative support, and seamless integration with third-party tools that you use for your business.
5. Prequalifying the Listing Presentation Script
Before conducting a listing presentation, agents use a prequalifying script to assess the homeowners’ background, reasoning, and financial situation. By doing so, agents can personalize their presentation and focus on what matters most to the homesellers.
Anthony Nader, an Epic Real Estate Sales, LLC agent, demonstrates how to use Mike’s expired and prequalifying listing presentation script. Anthony successfully booked an appointment with a lead by directly calling an expired listing and asking key questions to prequalify the property.
Key Takeaways:
- Ask key questions and personalize your presentation.
- Determine the desired listing price for the property.
- Establish the minimum acceptable price for the property.
- Consider interviewing multiple agents to sell your home.
- Understand the amount owed on the property.
- Decide whether to finance the house for the buyer or receive a cash payment.
After setting an appointment with a potential lead, prepare a listing presentation to secure their listing as your exclusive property. Read our article, The Ultimate Real Estate Listing Presentation, and download the free template.
6. One-minute Listing Presentation Script
Mike Ferry’s “one-minute” listing presentation script converts homesellers into clients by making a strong first impression and pitching the agent as the best person to hire. Watch Joey Rodriguez, a local real estate agent in Southern California, demonstrate how he qualifies prospects, overcomes objections, and creates a sense of urgency to close using the “one-minute” listing presentation script. He asked questions like “Do you really have to sell your home?” and “Do you want me to handle the sale for you?” to close the transaction immediately.
Key Takeaways:
- Screen real estate leads before working with them.
- Determine leads’ budgets and timelines early on to identify which houses to show them.
- Assert your intent to close the deal and create a sense of urgency.
- Prepare a comparative market analysis (CMA) to have data to show clients and make sense of your assessment of their home.
7. Absentee Owner Script
Real estate agents should use the absentee owner script to obtain listings from potential homesellers who own real estate assets but don’t occupy or manage them. Absentee owners can be a valuable source of future real estate leads, as they’re often motivated sellers or interested in passive income. Agents can browse rental listings, make cold calls, buy an absentee owner list, or use direct mailing to find these leads.
In a live cold call video, Brandon Mulrenin from ReverseSelling shows how to prospect absentee owners for listing using the absentee owner script. He asks questions like “How long do you own the property?” and “Do you consider selling your property in the future if the prices continue to increase?” to determine potential leads.
Key Takeaways:
- When speaking with an absentee owner, understand their motivation for not being in the home.
- Tell absentee owners how you can help them offload their property and move forward with other investment options.
- Explain how your comparable market analysis process works and how it can help dictate a proper selling price for their property.
8. CMA Presentation Script
Mike Ferry’s Comparative Market Analysis (CMA) presentation script determines a property’s market value by comparing its price, location, year built, renovations, features, and benefits to similar properties sold recently or are currently on the market. By presenting this information, your clients will gain a better understanding of their home’s current value.
During a live role-play, Monica Diaz, a Century 21 Masters agent, used the CMA presentation script to convert prequalified leads into clients. She compared the seller’s property to just sold properties and those currently on the market to determine the property’s actual market value.
Key Takeaways:
- Base the CMA on a thorough analysis of recent sales and listings. This will give the seller a realistic understanding of their home’s value.
- Explain the CMA in a way that is easy for the seller to understand. Avoid using jargon or technical terms.
- Present the CMA in an objective way, without trying to persuade the seller to list their home for a specific price.
- Be willing to listen to the seller’s feedback and make adjustments to the CMA if necessary.
For more details about tips and tricks on creating a CMA, visit the article Comparative Market Analysis (CMA): Definition & How to Create.
9. 40 Real Estate Objections Script
Knowing how to handle objections is integral for agents to build relationships with leads, establish themselves as knowledgeable problem-solvers, and determine if a lead is a viable opportunity. Preparing yourself for client objections will help you address common concerns and feel confident while doing so.
To see how important overcoming objections is, download Mike Ferry’s 40 Real Estate Objections Handled scripts and check out The Mike Ferry Organization video below. Mike provides valuable advice on handling objections like “The stronger your presentation, the fewer objections you’ll receive” and “Objections must be answered and resolved rather than ignored.”
Key Takeaways:
- Really listen to what the person is saying, and try to understand their concerns, even if you don’t agree with them. Validate their feelings.
- Answer objections head-on and provide evidence to support your answer.
- Sometimes, you may need to be willing to compromise in order to overcome an objection. This doesn’t mean that you have to give in to everything the person wants, but it does mean being willing to work with them to find a solution that works for both of you.
- Don’t give up if the person doesn’t agree with you right away. Keep trying to address their concerns, and eventually, you may be able to overcome their objections.
10. Most Common Buyer Objections Script
In addition to general objections, agents and brokers need to know how to deal with specific objections, especially from buyers. Most agents start their careers working with buyer clients—handling these will be integral to your success. The script guides you on effectively handling buyer objections by actively listening to their concerns, avoiding defensive reactions, and working toward finding a solution.
Find more examples of common buyer objections scripts on the Mike Ferry script downloadable. To further understand the Mike Ferry Most Common Buyer Objections script, watch the Mike Ferry Organization’s video below. The video explains how agents can simplify working with buyers by having lenders prequalify all buyers, setting standard buyer requirements, and limiting home showings to three at a time.
Key Takeaways:
- Acknowledge the buyer’s concern about affordability and ask questions to understand their financial situation.
- The buyer may be uncertain about what they are looking for in a home. Help them narrow down their options by asking questions about their needs and wants.
- The buyer may not be ready to buy a home immediately. Create a timeline for when they will be ready to buy by asking questions about their goals.
How to Enhance a Mike Ferry Script
Now that you’ve read and seen the Mike Ferry scripts in action, focus on making them compelling enough to close more deals. Here are six tips for using Mike’s scripts to help you get more clients:
1. Memorize the Scripts Without Sounding Robotic & Stiff
There are various ways to memorize the Mike Ferry scripts, like reading them aloud, giving each paragraph a trigger word, and creating an acronym. However, many new agents are put off by the prospect of sounding robotic or stiff when reciting the memorized script during the actual call. Learning a script early on is critical to determine which tone or approach will work best for you so you can add personal inflection and anecdotes that match your personality.
A script must fit your character and be delivered in your natural voice to be effective. Follow these guidelines to avoid sounding like a robot:
- Make the script conversational by making it a two-way conversation.
- Slow down, say things clearly, and pause between thoughts or before answering a question. It does not have to be perfect. It only needs to be genuine and helpful.
- Incorporate stories to prove your points. It helps people to visualize and connect the dots to achieve emotional engagement, which is critical in any decision-making process.
- Have confidence in yourself. When you speak confidently, your tone of voice changes completely. A self-assured person is almost always perceived as well-organized.
2. Practice Using Mike Ferry Scripts Consistently
Practicing Mike Ferry sales scripts will improve your tone or sound, the impression you make, your rapport, and your overall convincing power. According to Farnam Street, deliberate practice involves the following:
- Pointing out the specific areas that require improvement.
- Setting both short-term and long-term goals to determine what to concentrate on at each stage of development.
- Receiving constant feedback and instruction.
- Asking for help from a teacher or coach.
- Committing to intense focus and intrinsic motivation.
- Documenting and assessing upgrades all the time.
- Practicing consistently and repetitively.
3. Role-play the Script With a Partner
Another great practice to improve your performance and skills is to role-play the script with a friend or agent who knows some of the objections that buyers or sellers might ask. Learning the script by role-playing is much easier than memorizing Mike Ferry’s cold-calling scripts alone.
To make your role-playing effective, you or your partner could take notes so you can work on improving your style or performance. It would be best to make your role-play as accurate as possible and focused on objectives, allowing your partner to give specific feedback.
4. Record Yourself During Your Practice
Because it can be difficult to objectively critique your cold calling while role-playing or on the phone, recording yourself on a smartphone or a computer is more feasible. When you listen back to yourself, you may be surprised to discover that what you thought was effective sounded flat or that you are projecting your voice aggressively or communicating too confidently. Modulate your voice and use familiar words or phrases to avoid these things.
5. Focus on Your Goal to Generate Leads
Real estate agents’ goals include generating and nurturing leads to build their client base and grow a successful business. Mike Ferry’s scripts eliminate distractions, like unnecessary questions, and enable you to focus on your plan, like booking an appointment to see a seller’s house or taking a buyer on a property tour.
Here are some pieces of advice to help you stay focused on your goals:
- Determine which motivators work best for your personality. It could be incentives or achievements.
- Make a list of your goals and keep it somewhere visible—constantly reminding you of the things you want to achieve.
- Break big goals into smaller attainable parts by creating milestones.
6. Talk Less & Listen More
According to FinancesOnline, a 43:57 talk-to-listen ratio produced the “highest-yielding” conversations in their study, where sales reps spent 43% of their engagement time talking and 57% listening. Therefore, your mindset should focus on solving the potential client’s problem rather than bragging about your excellent performance. Listening is a far more valuable skill in sales than talking. It may sound counterintuitive, but remember that an agent’s role is to effectively solve a problem for your clients, not sell them something.
Frequently Asked Questions (FAQs)
Mike Ferry is a well-known real estate professional who provides real estate coaching and training services to people all over the world. Through The Mike Ferry Organization, he helps countless individuals achieve success in their real estate careers.
Mike Ferry is well-known in the real estate industry because he is considered a leading figure in real estate coaching and training worldwide. For the past 48 years, he has been providing agents and brokers with the necessary tools and techniques to succeed in their real estate careers through his organization, The Mike Ferry Organization. Thanks to his efforts, numerous individuals have achieved remarkable success in the real estate industry.
Bottom Line
With over 45 years of real estate experience, Mike Ferry and his organization have provided agents and brokers with tools to succeed in the real estate industry. Use these sales and cold-calling scripts to generate leads and sharpen your sales skills. To become an expert at cold calling, memorize, practice, and be confident in these scripts until they become second nature.
