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About This Episode
When Monique Walker began in real estate almost 20 years ago, she started making her calls. And she hasn’t stopped since. This week on The Walkthrough™, Monique shares the prospecting system that’s earning her team 15 listings every month. Because it’s easy to get distracted by what’s new or what’s sexy in real estate, but oftentimes it’s the most basic things we do that build the strongest business.
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Links and Show Notes
- The Monique Walker Team – Monique’s real estate website
- Monique Walker – HomeLight agent profile
- Connect with Monique: Facebook / Instagram / LinkedIn / YouTube / Twitter
- MojoDialer – the dialing platform Monique uses, mentioned in this episode
- LandVoice – real estate data service Monique uses, mentioned in this episode
- Join our Facebook mastermind for The Walkthrough™ listeners
- HomeLight’s Agent Resource Center
- Follow and listen to The Walkthrough™: Apple Podcasts/iTunes | Spotify | YouTube
(SPEAKER: Matt McGee, Host)
Imagine doing this for three hours a day.
[sound effect: phone dialing]
Imagine doing it [sound effect: phone ringing]
five days a week.
[sound effect: phone ringing]
No, thank you. I mean, listen, I’m one of those people who doesn’t like talking on the phone at all, but even if I loved talking on the phone three hours a day, five days a week sounds so boring.
Monique: Matt, this is repetitious boredom, is what it is. But the repetitious boredom pays really, really well.
Matt: Meet Monique Walker, and wait a second. Did she just say it pays really, really well?
[sound effect: cash register]
Monique and her team have prospecting down to a science from what time to do it, what to say, and even your position in the room as you’re making calls, seriously. They’re earning about 15 listings per month from prospecting. That’s not a typo or a “speako”, I guess. I said 15 listings per month. And she’s gonna share exactly how they do it today. This is The Walkthrough™.
Matt: Hey, there. How are you doing? My name’s Matt McGee. Welcome to The Walkthrough™. Great to have you on board for another episode. This is a weekly podcast. New episodes come out bright and early every Monday morning. This is the show where you’ll learn what’s working right now from the best real estate agents and industry experts in the country. At HomeLight, we believe in real estate agents. We’re here to explore how great agents grow their business, stand out from the crowd and become irreplaceable.
Make your calls. Make your calls. Make your calls. If I had a dollar for every time, I’ve heard a real estate coach say that, “Make your calls”, I could be retired by now, right? You could too. When Monique Walker got into real estate about 18 or 19 years ago, she started making her calls, and she has not stopped since. Prospecting every day powered her to success for several years as a solo agent. She formed her team 10 years ago, and prospecting is now powering their success in the Phoenix, AZ market.
Monique herself has done a hundred plus deals every year for the past eight years. The team, which is Monique and four other agents, has done more than 200 deals every year for the past five years. And yes, the number in the title of this episode is accurate. They’re getting about 15 listings per month from prospecting, and the goal is to increase it to 20 per month.
On today’s show, Monique is gonna share how they do it. Listen for us to talk about her exact schedule, including what time of day she gets the most listing appointments. We’re gonna talk about a couple of the tools that she uses to make a hundred plus calls per day. We’ll also have a sample script for you to listen to, and we’re gonna talk about why it matters whether you sit down or stand up when you’re prospecting.
All of that is coming up. After the interview, we’ll do the takeaway segment like we normally do. I’m also gonna have a quick update on our upcoming episode schedule. Right now let’s dive in and learn how to prospect your way to 15 listings per month. Here’s my conversation with Monique Walker.
Matt: Monique, I think some listeners will be surprised to learn that you are prospecting every day, five days a week, for three and a half hours or so. And you’re almost 20 years in the business. You’re super successful. You’ve got your own team, team leader. Why are you still making those calls every day?
Monique: Well, Matt, because I still wanna produce, I still wanna grow the business and I still want my agents to produce. So, I know that if I continue to take the listings, which means that my goal is typically to take somewhere between 10 or more listings a month, then all our problems will be solved, basically, yes.
Matt: Do you ever get tired of doing the same thing every day for three to four hours?
Monique: Matt, this is repetitious boredom, is what it is. But the repetitious boredom pays really, really well. So, of course, I get bored, and sometimes I have to turn up the music. You know, sometimes I have to change up my script, right? Sometimes I have to change the source that I’m calling. So, I’m constantly finding ways to keep things exciting and new because it is a lot of the same thing. At the end of the day though, Matt, I’m lucky because I absolutely love talking to people. So, I genuinely am interested in people. Now, my husband isn’t. But generally, I like the connection and I find a lot of satisfaction when I find somebody that I can really help and that I can be of service to.
Matt: Of all the ways to do lead gen, right, I mean, there are dozens of ways that an agent can find business. For you, why prospecting?
Monique: Wow. Okay. So, I have like 57 reasons why, but I would tell you that I’m so passionate about it because, Matt, it’s free. That’s why I started it. So, of course, I’m coached by one of the best real estate coaches, if not the best one, Mike Ferry. And he, of course, created the blueprint. It’s like talk to people, you know, you can do that via face-to-face, door knocking. I used to door knock a lot when I was first in the business. Back in 2004, ’05, and ’06, you would catch me in the neighborhood door knocking and it’s hot. It’s 110 degrees out, but we would still be out there. I’d be with my buddy talking to people. So, at the beginning it was, I don’t have any money. I don’t have a big budget, you know, I can’t buy the billboards. I can’t send out 3,000 postcards. So, what do I have? I have time, I have energy, and I have enthusiasm.
So, back in the day, that was the reason why, and obviously that was the blueprint. And now, of course, I just see that, you know, me talking to people creates a really big business. If I can just stay in front of people that I know and that I don’t know, right? So, about 50% of my prospecting is people that I know–my past clients, my friends, my sphere of influence. And then, because I wanna keep growing the business, 50% of the other half is calling people that I don’t know, through all the other, expired, canceled, probates, circle prospecting neighborhoods. Because again, I wanna keep growing.
Matt: I wanna emphasize an important point. You just heard Monique say that about half of her prospecting is with people she knows. It’s not just about cold calls to strangers. In just a moment, we’re gonna get into her system, and she’ll share more about exactly who she’s prospecting every day.
For a while, Monique was taking Fridays off from prospecting, but with the way the market is changing, she’s back to five days a week. And that’s a good thing because she and her team have big goals ahead.
Monique: But the market has changed. Now we have to come back and talk to even more people. You know, my schedule possibly was a little looser. You know, things were just a little easier the last couple of years as a really good listing agent, right? So, now we almost have to come back to basics. And I think there’s a huge opportunity on the expired and canceled side that I and the team should be getting probably…I’m gonna give you a really big number, like 10 listings a month on the expired and canceleds because there’s so many people that don’t know what’s happening in the market. You know, they still think that they can get what their neighbor sold for three months ago, right? And then their property is canceling. They’re just not getting the best coaching, you know, and the best advice and then the best marketing.
Matt: So, 10 listings per month is the goal, or is that the reality?
Monique: So, I’ve been averaging this year about eight myself. And I’m really, really excited because I now have five agents under me, and they will be taking 10 listings a month. And then, coupled with my 10 listings, we should be taking 20 listings. On average, we’re more–combined with myself and the agents–are probably more a month for the 14 or 15 listings a month. And that’s just gonna keep increasing.
Matt: And one thing I wanna point out too, you mentioned that about 80% of your business now is past clients and sphere and referrals. I would assume, Monique, that a lot of those are people that originally got into your system because of prospecting.
Monique: Exactly, exactly. So, I wouldn’t have all of those past clients if I hadn’t been prospecting for the last, you know, 18 years. And I wrote this down because I want people to know this. I promise you, if you talk to 30 people, Monday through Friday for 15 years, like, you will be wealthy.
Matt: Let’s walk through your prospecting system, how you do it. And as we go through this part of the conversation, Monique, we have a listener community on Facebook with about, I think it’s about 2,200 agents in there. And I told them we were gonna be having this conversation. We’re gonna be talking to a super successful agent about how she prospects every day for three to four hours a day. Do you have any questions for me? And so, some of these questions will be from our listeners, including this first one. This is from Dave Matthews. He’s an agent in, Norfolk, MA. He said–and this is probably the best way to start talking about the system, right? “Do you prospect at the same time every day? What time works best for finding people home and willing to talk?”
Monique: Yes. I start and stop at the same time every single day because I have a schedule and I have to keep to it. So, the earlier that you can start, the better. I think starting at eight o’clock is a must, and you are gonna get the bulk of your people. I call my first hour of prospecting as, like, my golden hour, and I’m most likely gonna find that listing appointment within 8:00 to 8:30 timeframe. And then I prospect from 8:00 to 11:00. And then, you know, I say that I have… I call my “three hot somebodies” at the end of the day.
So, you know, the schedule is you prospect in the morning. So, don’t show properties, don’t go on listing appointments, don’t run CMAs. You’re just talking to people. It’s outbound calls, outbound conversations, and then the afternoon it’s all, you know, you see the people. So, whether you’re previewing property, whether you’re going on listing appointments, you know, whether you’re showing property, that’s for the afternoon.
Matt: You mentioned starting at 8:00 am. Now, Monique, I’m not a huge phone user. I can’t imagine picking up a phone call from a stranger at 8:00 am. Do people actually answer at that hour?
Monique: Matt, I’m flabbergasted myself because I’m not gonna pick up my phone either. But you know what I found is that people that are motivated, especially if it’s an expired or canceled listing, they pick up the phone. It is the craziest thing, and they will talk to you. And if you find people that genuinely have to do something, and you make that connection right away, they’re gonna stay on the phone with you.
If you know what to say and, of course, Mike Ferry has scripts, and I’ve already internalized them. So, they’re–I know what I’m gonna say, and with every step of the way, if you know what you’re gonna say, they’re willing. Now, the opposite is true, as well. If you’re not motivated, if they didn’t really have to do something, then they’re probably gonna be that angry person that says, you know, like “I’m not interested. Don’t call me. Thank you.” And they click. And I say, “Great,” because I’m on to my next.
Matt: Okay. So, you’re making calls 8:00 to 11:00 every day. Let me get into another listener question. This is Stephan Ash, I believe, is how it’s pronounced. He is in the Atlanta area. He says, “Are you calling your database? Are you circle prospecting? Is it inbound leads?” Basically, who are you calling, Monique, and which group do you spend the most time on?
Monique: That’s such a good question. So, I always start my first source is gonna be the expired person because they didn’t know that their house expired, right? So, I wanna be one of the first callers if I can be. So, it goes, I call the expired, and then I call the canceled afterwards. And then, I’ve been calling probate personal representatives for about seven years. That’s one of my favorite types of transactions to do because I feel like these people really need my help. They’re either gonna really need you, or they don’t need you. Well, isn’t that the case with everybody? And a lot of these folks are out of state. You know, they just obviously had a traumatic situation, and they really would benefit from a really good professional agent that has all the sources, meaning all the vendors, that I can help clean out their property, I can help, you know, do any kind of repairs and I can set all of that up for them, you know, even if they’re out of state.
So again, goes back to my expired, my canceleds, my probates. Of course, I do my lead follow up right after I do my expired and canceleds, because that lead follow up–you know, 70% of my business and anybody’s business is typically gonna come from lead follow up, right? You might not set that appointment on the first call or the second, but typically, you know, the more touches you have with them on that lead follow-up, you know, you’re gonna increase a conversion rate. And then, after I call all of those people that I don’t know, right? Then I call people that I do know. So, it’s usually about from 10:00 to 11:00, I’ll focus on my database, my past clients, and my sphere of influence. And that’s like three hours goes by like this, Matt. It goes by so fast.
Matt: Same groups every day? Or is it expireds one day, probates the next?
Monique: No, it usually is, I time block it. So, usually, like from 8:00 to 9:00, I’ll do expired and canceleds. From 9:00 to 10:00, I’ll do probates, and from 10:00 to 11:00, I’ll do past clients and sphere. That’s normally pretty, pretty consistent each and every day, and that’s just what I enjoy doing. And then, you know, sometimes in the afternoon, I’ll go back to the… if I don’t have an appointment, I’ll go back and call some more expired and canceleds because again, there’s so many of them now where the last two and a half years there was hardly any. I mean, I hardly did any business off of expired and cancels, and now it’s gonna be a huge source of business for us.
Matt: So, how many calls per day are we talking? Can you give me a rough estimate?
Monique: Oh, it’s not a rough estimate. It’s an exact estimate. Everything is pretty calculated with the Mike Ferry program. So, I have what’s called a numbers analyzer, and I plug all my numbers in every single day. And I’ve been doing this since 2005. So, we can go back in time.
Matt: Oh my gosh. Okay.
Monique: Yeah. It’s pretty neat.
Matt: You have tracked every call since 2005.
Matt: That is fantastic… I love… As a numbers guy, I love that so much.
Monique: Matt, I’m as far as a numbers person as I could be, as a person could be, but I love it. I love it so much because it works. And I know that there’s a direct correlation between the number of people I’m talking to and the number of business–the number of transactions we close, direct correlation. So, I’m averaging–I’m supposed to be calling 32 people a day. That’s the goal, but my actual is 27. So, that’s what I’ve been averaging so far this year.
Matt: That’s still, I mean, okay, so you’re a little behind your goal, but that’s still a lot of calls in a short period of time.
Monique: It’s still a lot. So, how many people have I spoken to? I’ve talked to 2,549, 2,549 people.
Matt: Just this year?
Monique: Just this year. Yeah.
Matt: And let me clarify something too, because you… So, you said the goal is 32 and you’re at 27. That’s not calls placed, is it? That’s conversations.
Monique: Conversations. Yeah, I don’t… So, we’ll probably, like, let’s just say we have a list of 100, the average is that I usually talk to 20% of that list.
Matt: Let me jump in and clarify something there. I just used the word conversations when I should have used the word contacts. Monique said her goal is to talk to 32 people per day. Now, that includes calls where she leaves a message. Those are contacts, not conversations. She says she does have a lot of real conversations in the first hour when she calls expireds and canceleds. She also has a lot of real conversations in the last hour with her sphere and database. It’s the middle hour from 9:00 to 10:00 am. She described that as slower and harder to have real conversations.
All right. Still to come, we’re gonna do a short role-play so you can hear one of Monique’s prospecting scripts. I’m also gonna ask her about her conversion rate. How many contacts does it take to get an appointment? How many to get a listing? That’s all straight ahead. Now, let’s get back to the conversation.
Matt: So, you are making a lot of calls, high volume of calls. You’re not sitting on your phone, typing each number. Tell me what tools you’re using to make this possible.
Monique: Yeah, so I use… I mean, I’m not sponsored by any kind of dialer or anything. But I use a dialer, and I’ve just been using Mojo for a long time. I think I’ve been using them for like 15 years. And there’s a couple of other tools. Like, I’m pretty old school, Matt. I still use Outlook, and my team uses Top Producer. We’re actually looking to upgrade some of our systems. But I’ve kept everything pretty, like, it’s functional for me.
Matt: I think you mentioned in the call with Lisa, did you mention something called… Is it called Landvoice?
Monique: Yeah. So, that’s a company that brings me the expired and canceleds, and then it automatically downloads into my Mojo dialer. So, everything’s pretty automated on that source, the expired and canceled. And then we upload our list for, you know, the probates or the attorneys that we call. So, the only time I’m manually dialing is for my lead follow-up and for my past clients and my friends, and my sphere.
Matt: Monique, let me get a sort of a visual picture here of what we’ve been talking about. It’s you prospecting, you’ve got your team, a handful of agents on the team. Are you all in a room together? Like, what does this look like?
Monique: Typically, so Monday, Tuesday, Wednesday, Friday, I’m all by myself in my office. I’ve got a desk where I stand up most of the day. It’s one of those, like, retractable desks that I can, you know, make it go down and up. And I’m usually standing the whole time. I would say, Matt, that’s really… I really encourage my agents and obviously myself to stand up. Why? Why stand up? Because you have more energy.
If you think about it, like, if you sit down, and you’re hunched over and your head’s down, you’re tonality and the way you speak is going to be a little more monotone, and it’s gonna be a little more, like, less energetic. And if you stand up and if you smile, that person can hear you. And people wanna work with people that are, you know, enthusiastic, positive, have energy, to their voice. A lot of the agents I see sit down, and it makes a really big difference. So, you wanna keep your energy up, and a good way to do that is, A, standing up, and B, smile.
Matt: Let’s go back to that 8:00 to 9:00 hour when you’re calling, I think you said it’s the expireds first. Give me an example of script.
Matt: The call goes through, somebody picks up the phone. What are you saying to them?
Monique: I’m saying, “Matt. Hi, this is Monique with Re/Max. I noticed your property came off the market. You’re the owner, right?”
Matt: I am the owner. Yeah. Hi, Monique.
Monique: Oh, good. Hi. I was calling to see when are you planning on interviewing a new agent for the job of selling your property?
Matt: Well, we hadn’t… I mean, we were so frustrated that it didn’t sell, Monique, so we hadn’t really, you know, thought about how soon we wanted to go through that experience again, you know?
Monique: I’m really surprised it didn’t sell. And if you sold the house, Matt, where were you gonna be moving to next?
Matt: Well, we were gonna be moving to California to be closer to our family.
Monique: Oh my goodness. That’s so exciting. And originally, how soon did you wanna be there?
Matt: Well, we had talked about, you know, being there by the end of the year.
Monique: End of the year. Oh my goodness. Well, Matt, I’m confused because I’m looking at your property. I mean, it really looks great. It looks like you’ve done a lot in terms of upgrades. What do you think stopped the home from selling?
Matt: You know, I don’t know. I’m not sure, maybe it wasn’t marketed right, you know, it’s… that’s what we wonder too.
Monique: Well, Matt, if I could show you a way where you could put your home back on the market and get it sold here in the next, say three to four weeks, would you still like to make that move to California?
Matt: Well, we still do. Yeah. We still wanna move to California. That’s where our family is. Yeah.
Monique: Yeah? Okay. Super. Now, I’d love to apply for the job of selling your home and show you that plan. I’ve got some time on Monday just to go over just a quick presentation, maybe 30 to 40 minutes. Would you and your wife have some time on Monday at 2:00 or do you think 4:00 is better?
Matt: We could do Monday at 4:00. That would work.
Monique: Monday at 4:00? Okay. Super. I am so excited for the opportunity. And then I’d go into a prequalifying script after that.
Matt: That’s what I was just gonna ask you. So, if you get a conversation, how much prequalifying are you doing, or is it just let’s get the appointment and I’ll take it from there?
Monique: It used to be when I was a newbie, right? Back in 2004, ’05, ’06, I just wanted to get in front of people. And my coach said, “Just book the appointment and go.” Well, 300 listing appointments later, that was super, super tiring. And I thought, “Oh my gosh, no, let’s not do that anymore.” So, I pre-qualify 100% of the time. And I have a really, really good script that I absolutely love, and we’re constantly practicing it. And it’s just really, really powerful because I don’t wanna go out to a home without knowing what the objections could be and really knowing if I can help them or not. Right?
Matt: Without doing a full role-play like we just did. Can you share some of what the pre-qualifying questions are?
Monique: I’d love to, I’d love to. So, number one, Matt, if what I say makes sense, you felt comfortable and confident that I can sell the property. Are you planning to list your home with me when I come out to see you on Monday? Are you planning to interview more than one agent for the job of selling your home? Tell me again, you’re moving to California, how soon did you wanna be there? When I see you, how much do you wanna list the home for? What price won’t you go below? How much do you owe on the property? Have you ever thought about selling it yourself? Will you help finance a home for the buyer? Or do you want all the cashout? Please describe your home for me. I’m gonna send out a packet of information. Will you take a few moments to review it before I come out? And will all decision makers be there on Monday at 2:00 ?
Matt: So, that’s all in the pre-qualifying conversation, assuming that during your prospecting, you get them on the phone, you’re having the conversation. You wanna find out all that before you get out to the appointment?
Monique: A hundred percent. Absolutely. Absolutely. Now you know all your possible objections, right? If they’re interviewing other agents, I’ll usually ask who they are so I can be armed with some good information as to why they should hire me versus the other agent, you know? If I know what price they wanna list it for, and I see that they’re way out in left field, in fantasy land, then I’m gonna dig into that pricing conversation when I’m talking to them on the prequal, right? Or I might decide not to go at all, right? If I know that they’re hundreds of thousands of dollars off, right? So, it’s empowering. The script is totally empowering for all Realtors®.
Matt: What is a good conversion rate? Do you happen to know offhand? Like, how many calls do you have to make to get one appointment?
Monique: Well, Matt, I have that right here. So, contacts per listing appointment for me is 38. So, that’s a pretty good number. That used to be a lot higher. So, you know, every year it seems like that gets a little bit better. And then my contacts to listing taken is 44.
Matt: So, 44 conversations, you’re getting a listing.
Matt: So, if you’re doing 30, say 30 conversations a day, and it takes 44 to get a listing, then every day and a half, you’re getting a new listing.
Matt: Who wouldn’t want that?
Monique: Right? That’s what I’m saying. It makes perfect sense. That’s why everybody should do it. It’s so fun to see that. See, you just connected the dots with the conversations. It’s amazing. It’s amazing. You know, again, going back to make 30 contacts for 15 years and you will have an incredible business.
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Matt: When we first connected with Monique to talk about being on the show, she said her superpower is massive consistency. I think that’s true. Make your calls. Make your calls. Make your calls. And look where it’s gotten Monique and her team. Great stuff, Monique Walker. Thank you so much for being on The Walkthrough™ with me today. Hey, if you wanna connect with Monique, we’ve got all of her contact info in today’s show notes. You’ll find links to her website, her social media accounts, and so forth.
Quick programming note coming up in just a moment. Right now, let’s do the takeaways segment. Here’s what stood out to me from episode 96, Prospecting Your Way to 15 Listings Per Month with Monique Walker.
Takeaway number one: She calls this “repetitious boredom that pays really, really well”. That quote has stuck with me since we recorded this episode a few weeks ago. You know, we get so caught up in what’s new or what’s sexy in real estate, but a lot of the times it’s just the most basic, boring things that create success.
Takeaway number two: The earlier you start prospecting the better. Monique prospects every day from 8:00 am to 11:00 am, and she calls that first hour “the golden hour”. Apparently, much to my surprise, people will pick up their phones that early in the morning. In fact, Monique says that first hour, 8:00 am to 9:00 am, is when she gets most of her listing appointments.
Takeaway number three: That three-hour block, it’s all prescheduled. The first hour is expireds and canceled listings. Hour two is probates and then lead follow-up. And hour three is her sphere and database. She says you can be more efficient by making lists of exactly who you’re gonna call.
Takeaway number four: Monique tracks every call she makes. You heard her say she’s made 2,549 calls just this year. That was as of the time we recorded the conversation. She knows that she’s gonna get one appointment for every 38 contacts and one listing for every 44 contacts. The lesson is track what you’re doing so you can set goals that will challenge you to grow. Monique’s team is getting 15 listings per month right now, as a team, just from prospecting. Their goal is to get to 20.
And takeaway number five: I thought this was really interesting. Monique says you should stand up and smile while you prospect. Standing up gives you more energy. Smiling makes you sound better. When we did that role play, I don’t know. Could you tell, I was trying to sound like “8:00 am grumpy guy” but Monique was having none of that. She says people wanna work with people who are energetic and enthusiastic. And those are your takeaways this week.
All right. Quick programming note, there will be no Walkthrough™ episode next week. Believe it or not, next Monday is Labor Day. So, we’re gonna enjoy the holiday, and I hope you will too. Now, we’ll be back the following Monday, September 12th, and listen to this. We’re gonna start a two-part series where we’ve got a licensed veteran appraiser spilling the beans about their job– what they look for inside the home, what neighborhood factors can impact home value, and much, much more. I think you’re gonna love it. And that series starts on Monday, September 12th.
All right. If you have any questions or feedback about something you heard today or any of our other episodes, there are a couple of different ways you can get in touch. Leave a voicemail or send me a text. The number is 415-322-3328. You can send an email, it’s walkthrough[at]homelight.com, or just find me in our Facebook mastermind group. Go to Facebook, do a search for HomeLight Walkthrough™ and the group should be the first thing that you see.
All right. That’s all for this week. Thanks to Monique Walker for joining me, and thank you for listening. My name’s Matt McGee, and you’ve been listening to The Walkthrough™. At HomeLight we believe in real estate agents. We’re here to explore how great agents grow their business, stand out from the crowd and become irreplaceable. Go out and sell some homes. Happy Labor Day. I’ll talk to you again in two weeks. Bye-bye.
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