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The Tom Ferry Podcast Experience

A Modernist Approach to Applying LPMAMA(S) | Confidence & Conversion

The Tom Ferry Podcast Experience

Tom Ferry

Education, Self-improvement, Business

4.81.1K Ratings

🗓️ 22 April 2022

⏱️ 15 minutes

🧾️ Download transcript

Summary

We have Rockstar agent Doug Edrington back in the house, talking to me about LPMAMA! If you’re not familiar, it’s a set of talking points for covering all your bases when converting leads into clients. But this isn’t your mama’s LPMAMA. No, Doug’s made it cleaner, meaner, and added a bonus “S” at the end, which (just like an “S” at the end of most words) multiplies its potential. If now is your first time hearing about it, this is the best way to learn. And if you already know LPMAMA, Doug’s going to show it to you in a whole new way. So, no matter what your prior knowledge, this is one you’ll want to watch or listen to, right now!

Transcript

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0:00.0

All right, let's go a different direction. This is a really good insight on the buyer side.

0:11.1

A modernist approach to LP Momma. For the person that doesn't know what LP Momma is, what

0:16.3

is LP Momma?

0:17.3

So LP Momma is an acronym for our industry, which I'd love to know who created this. Do you

0:22.5

know who created this?

0:23.6

What a wild thing, right? Location, price, motivation, agent, mortgage, appointment. I like

0:33.6

to make it plural and put an S on the end of it, and add source. So if you break down these

0:39.7

things, I don't want to say most people, but a lot of people, especially if you're in any

0:44.0

type of furthering your education from a sales perspective in real estate, you've heard

0:47.3

of LP Momma. But what I find is that people, it's one of those things that you learn in

0:52.8

the classroom, but you don't actually apply, right? And so years ago, I decided I was like,

0:58.4

this is great, but how do we make people apply it out in the field, right? So we created

1:02.4

some tactics to it, and I'm going to fly through it for time's sake, right? So location.

1:07.9

First thing is pain versus pleasure, right? So we all ask our clients, where do you want

1:13.2

to live? And I'm in Chattanooga, Tennessee, and I love it when I hear, we're looking somewhere

1:18.7

in Tennessee, Carolinas, Alabama, maybe Georgia, and you're like, great. You might want

1:24.6

to narrow down a state before we start talking subdivisions. And especially in today's

1:29.0

time, it's like everybody's moving from somewhere else in the country. So therefore, they don't

1:33.8

know, right? But still, as you get in that conversation, pleasure versus pain, pain.

1:40.6

First ask that question, where do they want to be? That's usually the subsurface answer.

1:46.0

You've got to get, no, I'm sorry, that's the surface answer. We've got to get to the

1:49.1

subsurface answer. So you've got to ask the pain question, okay, where specifically do

...

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