As a real estate agent, you’ve likely encountered the term “LPMAMA” before. If you don’t know what LPMAMA is, it’s a script that you can use to qualify buyer leads over the phone.
Use the script to open up a dialogue with a prospect and find out more information about their situation.
In this post, I’ll go through each letter of the script and how you can use it to find success and great leads for your real estate business.
If you would rather watch or listen to this content, check out the video or podcast below!
Who Is LPMAMA For?
LPMAMA works best with an online lead, but it can be applied to a lead from any source. Getting a potential client on the phone is hard work, so you want to make sure the ones you speak to are worth your time.
This will ensure that you are not wasting your time and are only putting effort into the leads who are more serious about the home buying process.
LPMAMA should be used once you get the potential lead on the phone, and the goal of the script is to set up a face-to-face appointment. Once you get the lead in person, the chances of them converting increase dramatically.
How To Use LPMAMA
LPMAMA isn’t just to get the information you need. Instead, the focus should be on the lead and how you can best serve their needs. To this end, try asking questions that feel less like an interrogation and more like you genuinely want to get to know them.
Your questions shouldn’t just seek to find out “what.” Rather, you should try to uncover the “why,” or the reasoning behind the lead’s choices.
For example, when you’re asking about their location, don’t be afraid to ask about their lifestyle. Instead of “Where would you like to live?” you can ask, “How far do you want to commute each day?”
Remember, LPMAMA is not a one-sided conversation. You are trying to open a dialogue between you and the lead. This will build rapport, which will ultimately get them to trust you and agree to work with you.
Start off the conversation by asking the lead about the location they want their new home to be in.
For example, if the lead says they’re looking to move to San Antonio, ask them what kind of neighborhood they’re looking to move to. Do they want a quieter suburb, or somewhere in the middle of the city?
If they’re not sure, try asking them what neighborhoods they don’t want to live in. Most buyers know what they aren’t looking for, so framing the question in this way will help you narrow down some options that you can present to them later.
Some other location questions you can ask are:
- The address of the home you called on is located in ___ area. Is that the only area you are looking to buy in?
- What have you liked about the homes you have lived in?
- What do you like and dislike about your current home?
- Are you familiar with this area?
- Are you moving here to be closer to work? How far do you want to commute each day?
- Do you have kids? If so, are you trying to get into a particular school district?
- Would you be open to other properties in the area besides this one?
- I see you were searching for homes in ____ area. Are you interested in other areas as well?
Talking about location tends to lead to talking about the budget your lead is working with. Instead of talking about “cost” or “price,” try using words like “invest” and “budget.”
Find out whether or not there is some room in their budget. For example, if their budget is $200,000, ask them if it’s ok if you show them homes at $215,000. Tell them that you wouldn’t want them to miss out on any great homes and that this would likely only cost them a few extra dollars a month on their mortgage.
In addition, this is a great opportunity to find out if they are already pre-approved. This will differentiate serious buyers from those that are still browsing.
Some different ways you can ask about price are:
- What budget are you most comfortable with?
- What’s the budget for your new home?
- How much are you looking to invest in your new home?
- The home you called about is available for $___. Is that the amount you are looking to invest?
- I see you’re looking at a home listed at $___. Is that the amount you’ve been pre-approved for?
- Do you have a monthly payment you’re looking to stay under?
The next part of the LPMAMA script is motivation. However, your discussion on price could naturally lead to talking about mortgages (the second M in the acronym). If this happens, don’t feel like you have to steer the conversation in another direction just to follow the script exactly.
In general, the goal of uncovering the lead’s motivation is to learn why they are moving and when they are looking to move by. Try to ask questions that make the lead focus more on the results rather than reasons.
Learning the lead’s timeline helps you as the real estate agent understand what needs to be done so the lead can get their home in the desired time frame. If the lead is unfamiliar with the buying process, you can explain to them what deadlines they’ll need to meet and how soon they should get started to stay on track with their time frame.
Some questions you can ask are:
- What has you looking at new homes today?
- What’s bringing you to this city?
- Do you currently own or rent your home? (Depending on their answer, follow up to learn more about their renting situation or whether they are selling their current home). How soon would you like to be in your new? What is your time frame?
- How long have you been searching for homes?
- Have you seen any homes that you like? If so, what kept you from buying it?
- Are you looking to move in the next three to six months?
“Agent” means finding out if the lead is already working with another real estate agent, and if so, whether or not they are committed to a contract with that other agent.
A buyer might have an agent sending them different listings, but they haven’t committed to signing a contract with them yet. Or, they might say they are already working with another agent just because they want to avoid unwanted contact.
You can ask a few questions to try and see if they have a contract with another agent. And if they don’t, you can start demonstrating how you can provide unique value to the lead.
If the lead is in a relationship with another agent but hasn’t signed a contract, ask them if you should send any deals you find to the agent, or directly to them. Typically, the lead will ask for the deals to be sent directly to them.
In addition, you can explain to them that not every home will appear on the MLS right away, so you might know about amazing deals in the area before other agents, and you want to make sure they see them first.
This positions you as a valuable person who can help the client fulfill their needs. Let them know that you’ll do everything you can to help them purchase the perfect home at the best price, and you will be there to guide them at every step of the process.
Some questions you can ask are:
- How long have you been looking for a new home?
- How many homes have you seen the inside of?
- What method do you prefer for looking at homes? Do you go to open houses or search online?
- Is an agent helping you? Did you already sign a contract with them?
- Do you have a 100% commitment to this agent, or are you open to looking for the best deal?
- Should I send any deals to that agent, or directly to you?
- Are you currently working with an agent that you’re committed to?
While it can be uncomfortable to talk about money, it’s a necessary part of qualifying any prospect.
Find out if the lead has been pre-approved and what stage they are at in their search. Some buyers are still browsing and have not talked to a bank or lender yet. If that’s the case, these buyers aren’t quite ready to sign a contract yet.
It’s important to make sure the lead is doing what they need to do on their end before you commit too much time to them.
Ask how much of a down payment they can afford. If they’re serious about making a down payment, offer to get them in touch with your preferred lender.
In addition, this is a great opportunity to demonstrate your knowledge and expertise of the buying process, especially if this is a first-time homebuyer.
Some questions you can ask are:
- How do you plan on paying for your home? (Cash, financing, etc.)
- How much cash do you have on hand to make the down payment?
- Have you talked to anybody as far as the best financing options for your situation?
- Will you be paying with cash, or are you planning to take out a mortgage?
- Have you been approved for a mortgage already?
- Have you been pre-qualified or credit approved by a mortgage lender yet?
- Has anyone taken the time to talk to you about financing?
The ultimate goal of LPMAMA is to set an appointment. Once you get the lead face to face or in a video call, the chance of them signing a contract with you is much higher.
Tell the lead that by meeting, you will get a better understanding of their situation. Offer an incentive, such as giving them a physical list of homes from the MLS that are great deals you think they’d like.
If the lead isn’t quite ready for an appointment, set up a follow-up plan and stay in touch with them until they are ready.
Try to create a sense of urgency for the potential client. Tell them what the competition is like in the market and that people are buying homes quickly, so it’s important to get going as soon as possible.
Some ways you can ask for an appointment are:
- Based on the information we’ve discussed today, I recommend we set up a time to meet at __ to go over the home buying process and set up a time to look at homes. Does that sound alright?
- Is this the best number to reach you at so we can set something up?
- May I have a good number I can reach you at so I can serve you better?
- Are weekdays or weekends better for you to sit down together? What time of day works best for you?
Final Thoughts on The LPMAMA Buyers Agent Script
LPMAMA is popular with real estate agents because it helps them, separate serious buyers, from those that aren’t quite ready yet. Use LPMAMA as a guide for your conversation, where the goal of the discussion should be on providing value to the lead. With the LPMAMA script, you can turn any buyer lead into a client in no time!
Once you get your buyer, check out my real estate agent buyer checklist to learn the nine processes you need to complete next.
Have you used LPMAMA before? If so, have you had success turning an online lead into a client? Let me know in the comments below!
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