Home of unlimited opportunity. Doing the Twist: A New Approach Doing the Twist: A New Approach
Home of unlimited opportunity. *Prep for This Weeks Session* Test run the automated pieces of the presentation before the meeting (slides 5-6, 11, 13, 18, 21-22). Speakers for the automated pieces. Note: Every automated slide has in the lower right corner so they can be easily identified. Copies of the Move-Up Tool, the Less is More Checklist and the Diagnosis Checklist, one per associate. *Delete this slide before presenting *
Home of unlimited opportunity. This Weeks Session Weve introduced a variety of tools and showed you one strategy for using each of the tools. Today were going to look at some of these tools and look at a new approach - a twist – to using them.
Home of unlimited opportunity. The V Tool PricesRates High Mid-Range Low Weve discussed how the V Tool can be used to convince buyers of the historic opportunity to buy in this market. The Twist: What are some ways the V Tool can be used with sellers? Click to the next slide to hear how this works.
Home of unlimited opportunity. PricesRates High Mid-Range Low Twist # 1: Securing a Price Reduction Ask sellers to place a dot where they believe prices are right now. If they dont put the dot at the bottom of the V, the sellers believe prices are still going down. This puts them in line for a price reduction!
Home of unlimited opportunity. PricesRates High Mid-Range Low Twist # 2: Securing a Listing Again, ask sellers to place a dot where they believe prices are right now. If they dont put the dot at the bottom, they believe prices will continue to drop. When prices drop 6 to 12 months from now, they wont get the price they can get today. These sellers dont want to list for 6 to 12 months.
Home of unlimited opportunity. Recap: The V Tool Twists Has anyone used the V tool in the ways we just reviewed for: Securing a price reduction Securing a listing PricesRates High Mid-Range Low Before we look at the next twist, do you have any questions on using the V tool with sellers?
Home of unlimited opportunity. The Move-Up Tool Weve discussed using the Move Up Tool to show sellers how much they will save by upsizing in a down market. The Twist: Do you know of an alternate way to use the Move Up tool with your sellers?
Home of unlimited opportunity. The Move-Up Tool Twists Were going to look at two new twists to using this tool: 1.Preventing sellers from taking their home off the market 2.Influencing a seller to downsize
Home of unlimited opportunity. The Move-Up Tool To use the Move-Up Tool differently, well have to make a few adjustments to it. Heres how well change it for our first example: Original version (focused on the past) New version (focused on the future – one less column; difference is in $, not %) Click to the next slide to hear how this works.
Home of unlimited opportunity. Their HomeThe Home They Want to Purchase Current$350,000$500,000 Future$400,000$570,000 Difference$50,000$70,000 Twist # 1: Preventing the Seller From Taking Their Home Off the Market The sellers wants to take their home off the market even though they want to trade up. The sellers want to take the house off the market and wait until the prices rise by 10%. Use the tool to show the seller how much theyll save by trading up now. Use this tool to influence seller to list now as opposed to later.
Home of unlimited opportunity. The Move-Up Tool Well make a different adjustment to this tool for our second example: Original version (focused on the past) Alternate version (focused on downsizing - notice new column header) Click to the next slide to hear how this works.
Home of unlimited opportunity. Their HomeThe Home They Want to Purchase Difference Current$300,000$200,000$100,000 Past$350,000$235,000$115,000 Difference$50,000$35,000$15,000 Twist # 2: Influencing a Seller to Downsize Your sellers have been living in their current home for 22 years. Last year, I could have sold this house for $350,000! Acknowledge that, then focus them on the home the price of the home they want to purchase. Isnt losing $15,000 a lot better than losing $50,000? Show hesitant downsizers that the cost to downsize is not as great as they originally thought. Use the Less is More Checklist for more ammunition.
Home of unlimited opportunity. One More Move-Up Tool Twist Have you ever found the perfect house for buyers who wanted a great deal, but you knew youd have to give them a reason to act now? In todays market, you know you can get your buyers a great deal on that house. Heres a good sales technique for this situation…
Home of unlimited opportunity. One More Move-Up Tool Twist Before you present the perfect home to them: 1.Fill out a Move-Up Tool using their current home and the perfect home, both at current prices. 2.Fill out another Move-Up tool. This time, use the lower price you know they can buy that perfect home for. When you show them their perfect home, show them the first and then second versions of the tool to motivate them to act now. With a lower price, that home will seem even more perfect!
Home of unlimited opportunity. Recap: The Move-Up Tool Twists The beauty of this sales tool – and many sales tools – is that with a slight twist you can use the tool in a variety of situations. The trick is to recognize, then practice, the different ways in which you can twist your tools as weve just done with the Move-Up Tool. Before we look at the next twist, do you have any questions on using the Move-Up tool?
Home of unlimited opportunity. The Diagnosis Checklist Weve discussed how to use this checklist to ask the right questions to identify why the house hasnt sold before a listing expired. The Twist: Lets look at using this checklist with FSBOs.
Home of unlimited opportunity. Did you have a broker open house? If yes, what kind of traffic and/or feedback did you get? Did you have public open houses? If yes, what kind of traffic and/or feedback did you get? Twist: Use the Diagnosis Checklist With FSBOs What feedback have you been given on price? What was your showing activity? Has there been a change in the reason for selling your home? What objections have you received from potential buyers? Have you received any offers? This checklist was designed to identify why a soon-to-expire listing hasnt sold. Most of the questions from this checklist can be applied to FSBOs. What was your list price history? Most questions can be asked to help you develop a relationship with the seller to uncover why their home hasnt sold. You can show what you and Weichert can do to get the house sold.
Home of unlimited opportunity. Recap: The Diagnosis Checklist Twist Has anyone used the Diagnosis Checklist with FSBOs? Can you think of any other ways to use the Diagnosis Checklist?
Home of unlimited opportunity. Success Stories Lets discuss some success stories that have come out of our sessions. Does anyone have a new story to share? Here are some great stories from Weichert Associates who have used these tools…
Home of unlimited opportunity. The Less is More Checklist A Manager was introducing the checklist during a Make Your Market Session. While an Associate was learning how to use it, she convinced herself to downsize. She brought home a Less is More Checklist so her husband could see how their quality of life would improve by downsizing!
Home of unlimited opportunity. The Keys to Making Your Market Making Your Market is being: Resourceful – Ensure you are well-versed in all of your sales tools so youre prepared for any situation. Proactive – Continue to look for the opportunities that exist in every type of market. Positive – Your positive attitude and thoughts will bring positive results.