The LPMAMA Script for Real Estate & How to Use It

7 views 11:19 am 0 Comments April 23, 2024

If you’re struggling to convert buyer leads, only six letters separate you from your dreams: LPMAMA. This simple but powerful framework is at the very heart of what real estate agents do. A strong LPMAMA script builds trust and rapport, qualifies buyer leads, educates buyers, and creates a strong foundation for the buyer-agent relationship. So, let’s demystify LPMAMA and walk through the exact strategies and scripts agents use to convert more buyer leads.

LPMAMA Script for Real Estate

What Is LPMAMA?

LPMAMA is a sales framework for real estate buyer’s agents that provides a structured approach to building rapport and converting leads into clients. It uses questions to uncover important information about the buyers and allow them to share their stories with the agent. This inquiry process simultaneously helps agents qualify the leads and learn how to help them most effectively. Think of it as the foundation of a trusting relationship.

Each letter of LPMAMA stands for a pillar in the conversation: 

L – Location

P – Price

M – Motivation

A – Agent

M – Mortgage

A – Appointment

The 6 LPMAMA Questions & Scripts

With a complete understanding of the LPMAMA meaning, it’s time to learn how to use the framework. Let’s dig into each part of the acronym, paying close attention to the goals of each section. We’ve included sample LPMAMA scripts with phrases and questions but download our free example conversation for an even better understanding of how to develop your strategy.

Location

As we say in real estate, “location, location, location.” Location is one of the most critical factors in any home search, which is why it’s the first letter of the LPMAMA real estate framework. Ask questions to encourage clients to express their ideal location, desires, and concerns. This inquiry helps you gather information to find them a property and builds rapport.

Goals:

  • Learn where your buyers want to live and (even more importantly) why they want to live there
  • Determine how educated your buyers are about different neighborhoods
  • Discover where your buyers don’t want to live and why
  • Decide if they are willing to consider other areas

Price

After asking about the location, you should ask about the price. This type of inquiry can be challenging since money can be a sensitive topic. However, if you have the right mindset and use a strategic LPMAMA script, the price discussion can help you build trust and rapport with leads.

For example, don’t start by asking sensitive questions about their personal finances. Approach the topic with curiosity and compassion. Ask about their budget and encourage them to know that they have options within their chosen price range.

Goals: 

  • Discover how much they are willing to spend on a home
  • Help them come up with a price range that will give them plenty of options
  • See if they have wiggle room in the budget
  • Ascertain whether their budget aligns with the home they’re looking for

Motivation

The “motivation” piece of the LPMAMA framework is particularly important for real estate agents but can be more complicated than it seems. Understanding a buyer’s motivation for moving or looking for a specific type of property can help you find options they might not expect, thus providing exceptional service. However, sometimes buyers don’t even realize their own motivations, so it might require some creativity.

Keep in mind that not everyone is moving for a positive reason; they might be trading down after a job loss or personal tragedy. Try to avoid blunt personal questions like “Why are you moving?” which may make someone uncomfortable. If you aren’t getting clear answers, try to dig deeper by saying, “Tell me more about that.”

Goals: 

  • Learn the specific reasons why the buyer wants or needs to move
  • Discover why the buyer wants to live in a particular area or is interested in a specific type of property
  • Determine the buyer’s highest priorities
  • Understand how you can help them

Pro tip: Consider using this mindset and sample questions for other real estate leads. See examples of sensitive conversations in our expired listing scripts guide and our scripts for FSBO leads.

Agent

The “agent” stage of LPMAMA helps you discover if potential buyers are already working with another agent. This question ensures you don’t spend time nurturing leads who have already signed a contract with someone else. Asking questions about agents they have worked with helps set you up for success. When you understand precisely how your clients want to be supported, you can provide the best service for them.

Goals: 

  • Determine if the buyer has signed a contract with another agent
  • Learn about the buyer’s history with other agents, positive and negative experiences
  • Understand what the buyers want from you

Mortgage

In the mortgage stage, you’ll find out how financially prepared the buyer is to purchase a home. Like the “price” section, you must consider your language when discussing money carefully. However, out of all the stages, this one offers the best opportunity to show off your knowledge and help the buyer solve a problem. Don’t treat this stage as a hard sell but consider it a way to educate the buyer.

Goals: 

  • Learn about the buyer’s financial preparedness to purchase a home
  • Determine how serious the buyer is about making a purchase
  • See if the buyer has already met with a mortgage broker
  • Demonstrate your expertise in financing a home purchase

Appointment

The last stage of LPMAMA is to summarize what the buyer has told you quickly, reiterate how you can help them, and then make concrete plans to take the next step in the process: an appointment. If you’re using LPMAMA over the phone or within cold calling scripts, the next step is most likely an in-person meeting. If your conversation went particularly well or if the buyer appears ready to move more quickly, you can set up appointments to visit a few homes.

Unlike a few of the other LPMAMA questions, the goal of this stage is to make concrete plans. Instead of listening objectively and relying on empathy, this step requires more assertiveness to convert the lead into a client. Ensure you are prepared to handle real estate objections during this stage to increase your success rate.

Goals: 

  • Demonstrate that you were listening carefully to their story and empathized with their problems
  • Provide clear next steps for the buyer
  • Confirm their needs, wants, and expectations
  • Schedule your next meeting

Why Is LPMAMA Important for Buyer’s Agents?

Even agents who don’t have a specific LPMAMA script or strategy tend to use some version of it in their first interactions with potential buyer clients. They often use a buyer questionnaire that contains the building blocks of LPMAMA without even realizing it.

The bottom line is that LPMAMA is one of the best ways to uncover a buyer’s true motivations and build rapport quickly. It provides an organized, thorough, and simple way to increase your lead conversions with home buyers.

When to Use LPMAMA

When the LPMAMA questions are used at the right time, they can be a potent tool for agents to convert potential buyers into loyal and repeat clients. Ideally, you’ll follow an LPMAMA script during your first one or two interactions with potential buyers. If you do buyer presentations with new leads regularly, LPMAMA should guide the process. However, the framework can and should be used to build rapport in various environments and interactions.

A few ideal times to use the LPMAMA framework include:

  • During open houses
  • During follow-up calls or visits
  • After a website inquiry on a property
  • During cold calls or door knocking sessions
  • Automated real estate text message scripts
  • Within email templates for online leads
  • During networking events

Mindset for Using the LPMAMA Real Estate Script

One of the most important parts of successfully using the LPMAMA real estate framework is mindset. Since it is meant to be used at the beginning of an agent-buyer relationship, some agents mistakenly view it as an opportunity to show off their expertise. However, LPMAMA is ultimately about the buyer, not the agent. The questions should be used to uncover information about the buyer, which benefits the agent for a few key reasons:

  • Builds rapport: Asking good questions makes it easy for buyers to open up and share the details of their home search. When they feel understood and valued, they automatically trust the agent more.
  • Qualifies buyers: Asking specific questions about their preparedness to purchase a home will expose buyers who aren’t ready to make an offer. This inquiry can save you months of wasted time and energy and allow you to focus on buyers prepared to purchase.
  • Sets expectations: Communicating the buyers’ wants and needs clearly in the beginning will show you exactly how to best help each client. Clarifying expectations will set you up for a successful homebuying journey and relationship.

As you go through the LPMAMA steps, make sure your mindset is one of curiosity, problem-solving, and empathy. Approach the steps like a detective or therapist, allowing the buyers to give you their point of view without interjecting. This small but important mindset shift will help you use the LPMAMA framework most successfully.

Bringing It All Together

LPMAMA is an essential framework for real estate agents who want to work with homebuyers. It provides a strong but simple strategy for building rapport with buyer leads and setting their relationship up for success. These LPMAMA scripts and tips will increase your chances of converting leads into clients.

The post The LPMAMA Script for Real Estate & How to Use It appeared first on The Close.

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