Presentation on theme: "Make Your Market Getting Hired By Expireds Part 1."— Presentation transcript:
Make Your Market Getting Hired By Expireds Part 1
*Prep for This Week’s Session* The sales strategy in this session is to establish a relationship with sellers before their listing expires. Be sure to spend time on this important technique, as the sales tool* you’ll introduce next week in part 2 will be most effective if they can create a relationship with the seller before the listing expires. *The sales tool you’ll introduce next week in part 2 is a diagnosis checklist used with a seller to understand why the original marketing plan failed. *Delete this slide before presenting *
Make Your Market Let’s recap all of the strategies we’ve learned so far in the Make Your Market sessions. Here’s what we’ve covered in the past few weeks…
The SOLD Sign Tell me how you’ve used SOLD signs to change public perception that homes are not selling. Call the neighbors when a home has sold to let them know you’re the one who sold it. Who has done that? Let’s hear some success stories about using the SOLD sign.
The “V” Tool PricesRates Tell me about your success with using this tool to demonstrate to buyers that now is the time to buy.
Targeted Marketing Plan for Lower-Range Buyers Marketing Plan ActionsResources Gather MLS sheets for the highest-value, lower end price range properties in your market area. This list will be used over and over again in the actions below.Your MLS Target Past Customers with Adult Children Who Could Be A First-Time Buyer 1.Review your list of past customers and sphere of influence. According to NAR, 55% of first-time home buyers find their agent through a referral. 2.Look for those who have children who could be ready to buy (i.e., just out of college and in their first job) – especially if they could get a great deal. 3.Call up these customers and “catch up” – re-establish rapport, ask about their children and transition to: “I can’t tell you how many people I’ve spoken to lately that wished they were buying today, and that led me to thinking about your oldest son Bobby. Wouldn’t you love to see him in his first home? Let’s get together to look at the great values out there so you can see for yourself how affordable it is for first-time buyers. I would love to have gotten a deal like this when I was buying my first home. ” 1.Use the highest value, lower price range list to share opportunities. Invite them in for a private consultation with your Gold Services Manager to discuss buying potential and financing options. Pure Gold List. Request at: Weichert Toolkit, Associate Calling Guide Your Gold Services Manager Target Renters: Strategy #1 1.Identify rental buildings/communities in your primary market area. 2.Create property packages targeted to this group of potential buyers: a.Select three high-value, lower price range properties and print out color property highlight sheets on each. You may also want to take advantage of low cost options for marketing to renters through WeichertiMail.com. b.Print out the two flyers on Myth vs. Reality and Take the Plunge. Put them on top of the property highlight sheets. c.Write a personal note and invitation to discuss these opportunities and more. Put your note on top. d.Attach your business card to your note. 3.Deliver these personally to people living in the rental communities to share with them the opportunities in the market area. Marketing Resource Center Direct or home page, two flyers are at the top of the page “Own a Home for What You Pay in Rent” door hangers, (use where allowable) from Quantum Target Renters: Strategy #2 1.Access 2.Send a mailing out to renters (they have renter lists). The Neighborhood Activity Business Reply Card and the Real Estate Update Card are two good choices. 3.Request the contact list. All phone numbers have been checked against the Do Not Call register (Quantum scrubs the list for you). 4.Make a warm call to the renters to ask them if they received your card... ask about their plans for moving any time in the future. Offer your assistance. It’s a great time to meet so you can show them even more opportunities in the area. Weichert Toolkit, Associate Calling Guide What successes have you had with using these strategies?
The Move-Up Tool Have you had the chance to use this with trade- up buyers?
The Less is More Checklist Have you had the chance to use this with hesitant down-sizers?
Neutral Parties Have you used these sites when presenting an offer?
Attitude Counts Has a positive attitude helped you improve your business?
Last Week’s Session Did you use this letter when re-connecting with past clients or people with whom you’ve had past business relationships?
Today’s Make Your Market Session In today’s market, listings are taking longer to sell and are often expiring. Today I’ll introduce an approach that will help you build a relationship with sellers of listings that are going to expire.
What Expires? Name some things that expire. -Milk - Your drivers license - Your credit cards - Medications - Any others?
When Something Expires Do you wait for these items to expire or do you do something about it? Brand X listings are no different!
When Listings Expire Don’t wait for listings to expire – you can help these sellers. You need to show them how you’ll be different from the Brand X agent who originally listed their home.
When Listings Expire Why do listings expire? -Not marketed well -Priced too high -Lack of agent communication -Any others?
How Do Sellers Feel? What are sellers likely to say when their house isn’t selling and the listing is getting close to expiring? They probably say things like…
I really thought my house would be advertised more.
I thought my agent would be holding a lot more open houses.
I just think my agent could have done more to get my house sold. Now I don’t know what to do!
Why Are Expireds A Good Opportunity? Working with a seller who has an expired listing has advantages: They’re already committed to selling. Their frustration with their Brand X agent can be your opportunity to shine. Any other advantages?
Capturing Expireds What have you done in the past to get an expired listing? Let’s share a couple of strategies. Now let’s look at another strategy for getting hired by expireds.
Getting Hired By Expireds Guidelines for getting expired listings: 1.Develop the relationship before the listing expires. 2.Diagnose why the listing is about to expire. 3.Create your prescription for getting their house sold. Guidelines for getting expired listings: 1.Develop the relationship before the listing expires. 2.Diagnose why the listing is about to expire. 3.Create your prescription for getting their house sold. In this session, we’re going to focus on the first guideline.
1. Build the Relationship Before the Listing Expires Building a relationship with a seller whose listing has not yet expired might seem challenging. This sales technique does work – if you do it so they solicit you.
1. Build the Relationship Before the Listing Expires When do most agents try to list an expired? The day after it expires – right?
1. Build the Relationship Before the Listing Expires How do you think a seller feels when an agent they don’t even know calls them the day that their listing expires? “You’re only interested in listing my home and you don’t care about me.” “My home was listed for a year and I’m only hearing from you now?”
1. Build the Relationship Before the Listing Expires Building the relationship before the listing expires is a sales technique that will set you apart from other agents. Here are three ways to establish that relationship.
Preview Listings Within 45 Days of Expiration Whether you’re previewing or showing the home: Arrange a time when the seller is home so they can meet you Engage the seller in the conversation/tour Demonstrate your interest in the property and your excitement in its best features Listen to their frustrations and concerns Listen closely to their questions
Preview Listings Within 45 Days of Expiration Make everything positive Leave your business card Report negative showing feedback in positive light Don’t give your opinion on price (say, “If you’re inviting me back to talk about this, I can do that”)
Invite Sellers of Active Listings to Your Public Opens – Use non-solicitation disclaimer – They come to shop the competition and you – They’ll invite you in…
Send Just Listed/Just Sold Cards Send these cards to other active listings in your primary markets and/or farm area. – Use non-solicitation disclaimer – Promotes you’re doing business
If you establish the relationship before the listing expires, you can get invited in. (They’ll solicit you.)
Here’s how you get invited in... When you’re talking with the seller: Project interest and enthusiasm for their home. Express your positive feelings about the market and/or your personal business. The next thing that will happen is… Getting Invited In
Seller will ask: “Why do you think my house hasn’t sold?” Your response: “So, let me get this straight, are you inviting me in to talk with you about why your house hasn’t sold?” “I’d love to come back. How is Thursday at 7:00 p.m. or would Wednesday be better?” You just got invited in! Getting Invited In
What’s Next? Once you have established a relationship with the seller and have been invited in, you have to figure out why the home hasn’t sold. That’s what we’ll cover in next week’s Make Your Market session.
Next Week’s Make Your Market Session Next week I’ll introduce a diagnostic tool to use with sellers to help you understand why the listing hasn’t sold. Once you know why it hasn’t sold, you’ll be able to provide a solution.
Make Your Market Archive Now you can access Every Make Your Market Tool on the Weichert University page!
Day: [day of week] Time: [start time] – [end time] Location: [meeting location] Make Your Market: Getting Hired by Expireds Part 2