1. How to Conduct an Effective Pricing Discussion Using the Price Trend Analysis

2. The Objectives of Today’s Workshop
Review key techniques that will help you have an effective pricing discussion.
Explore how using the key techniques will help you guide the seller to the ‘the right price’ to sell in their local market.
Practice conducting the Pricing Discussion using the PTA and applying the key sales techniques.
Read each bullet on the slide to explain the objectives of the workshop.
Note to facilitator: The overall objective is that associates practice conducting the Pricing Discussion, using the Price Trend Analysis, following the 5 step process. Having enough time for everyone to practice is much more important than enough time to cover all of the training content.

3. Your Seller is Thinking…
I need my house to sell for $X in X amount of time.
I have heard mixed information about the current real estate market and I don’t know what to believe.
What do YOU know about today’s market?
What do YOU know about this local market?
What do YOU think is the right price?
What are YOU going to do to get my house sold?
Click to reveal the bullets on the slide to briefly set the stage of the workshop and how critical it is to have a prepared discussion with the seller about price.

4. How Does Our Approach to the Pricing Discussion, Using the Price Trend Analysis Differentiate YOU?
Goes above and beyond showing the MLS sheets and comps.
Demonstrates YOUR expertise and knowledge of the current real estate industry and their local market.
Provides an organized, professional overview of the market.
Factually guides the seller to determine the correct price.
Differentiates YOU and Weichert from all other competitors.
Have a discussion with the group about how the Weichert approach to the Pricing Discussion using the Price Trend Analysis differentiates them from the competition.
Click to reveal the bullets on the slide to briefly review and summarize the key responses just discussed.

5. Key to an Effective Pricing Discussion
Demonstrate Your Value First:
Step 1: Get to Know Your Sellers and their Home
Step 2: Share the Weichert Value Story (use the customized marketing plan)
Step 3: Prepare and Present the Enhanced Price Trend Analysis
Click to reveal the bullets on the slide to briefly review the importance of demonstrating your value first in each step of the Weichert Listing Process.

6. Step 1: Getting to Know You and Your Home
Sellers Think: Do I like you? Do I trust you?
You’re using the “Getting to Know You” tool to:
Build rapport.
Demonstrate your professionalism.
Show sincere interest in the sellers.
Learn about the sellers and their home.
Separate yourself from the competition.
Review the slide to briefly review the objectives of the first visit, using the Getting to Know You and Your Home tool. Explain how the importance of this step being done well will ultimately help the Pricing Discussion.

7. Step 2: The Weichert Listing Presentation
Sellers Think: Are you competent? Can you represent me? Can you bring me buyers? Will you work hard for me?
You’re using the Weichert Listing Presentation to:
Demonstrate value
Show you have a plan
Express your commitment
Gain their confidence
Review the slide to briefly review the objectives of the second visit, sharing the Weichert Value Story and presenting the customized marketing plan to your sellers. Explain how the importance of this step being done well will ultimately help the pricing discussion.

8. Apply Key Sales Techniques
Value Statements
Differentiate Yourself
Engage the Seller
Defer Technique
Closing and Getting to Yes
Review the bullets and statements on the slide to reconnect the group to the sales techniques that were demonstrated in the Weichert Value Story video that allowed Ann to demonstrate value first.
Facilitator note: This slide is just a brief review of the sales techniques. Depending on the group you are training you may need to expand more on each skill or encourage them to attend the Listing Presentation Skills Practice Workshop, if the have not already attended.

9. The Pricing Discussion
Share the big picture.
Review the boxes across the Price Trend Analysis.
Drill down on the facts.
Ask the seller for a price range for their property.
Agree on price and close for the listing.
Review the slide to review the five steps of Weichert approach to the pricing discussion.
Distribute and review the Pricing Discussion checklist.
Show the third segment of the Weichert Value Story video.
Facilitator note: Depending on the group you are training you may consider showing the entire Weichert Value Story video if they have not yet seen or it has been since they’ve seen it. This will help them see the whole process and the first two steps are critical to this third step. If the class has recently seen the video you can just review the checklist and move directly into the skills practice.

10. The Pricing Discussion
What did you see Ann do well?
What would you do differently?
Which steps did she follow?
Did the discussion help guide the seller to determine and agree on a reasonable price?
Review each question on the slide to conduct a discussion of the video segment.

11. Tips for an Effective Pricing Discussion, Using the Price Trend Analysis
Do the work to properly prepare.
Use more data if challenged with comps.
Add Expired and Withdrawn data, when necessary.
Calculate and prepare to explain the Market Absorption rate.
Follow the 5 steps.
Engage the seller.
Use a highlighter or pen to point out key data.
Give the seller time to read the data.
Review each bullet on the slide to provide Associates some tips for an effective pricing discussion.
Facilitator note: See page of the Weichert Value Story guide. If you do not have a hard copy of this guide, you can download and print it from Weichert University online within the Weichert Toolkit.

12. Sample Dialogue: Sharing our Approach to the PTA with Prospective Sellers
“I’d like to talk to you now about our approach for pricing homes. We not only look at comparable homes in the local marketplace, we research trends from 12 months ago, 6 months ago, Under contract and Actives.”
“Before we look at the boxes across the page, let me direct you to, what I consider, is the executive summary of what’s happening in this market, the Current Inventory Analysis Snapshot.”
Review each the sample dialogue on the slide to provide an example on how to begin the pricing discussion using the Price Trend Analysis.

13. Pricing Discussion Skills Practice
Each will take a turn to role-play the part of the Sales Associate, Seller, and Observer
Take few a minutes to Review Sample PTA Handout to prepare you for the role-play
Sales Associate will conduct the Pricing Discussion applying the 5 step process
Observer should take specific notes on the Pricing Discussion Checklist
Important Preparation Note: Review the Pricing Discussion Skills Practice Facilitator’s Notes document as preparation for the workshop. Follow the instructions to prepare the sample PTA handout that will be used for the skills practice.
Review the slide to provide an overview of the Pricing Discussion Skills Practice instructions.
Distribute and review the Sample PTA handout.
Distribute and review the Pricing Discussion Checklist.
Distribute and review your prepared PTA materials
Distribute and Review Pricing Discussion Checklist
See next slide for more instructions…

14. Skills Practice Breakout Instructions
Break into groups of three and assign each person a number between 1-3
You will have 20 minutes per round, including 5 minutes for to give feedback using the checklist
Assigned Number
Round 1
Round 2
Round 3 #1
Sales Associate
Seller
Observer #2 #3
Review slide to explain how the breakout groups will work for the Pricing Discussion Skills Practice.
Have Associates split into groups the three.
See next slide for more instructions…

15. Skills Practice Feedback Session
Observer conducts a feedback discussion:
Have the Sales Associate state…
What they did well
What they would change next time
Have the Seller give feedback next
What they think the Sales Associate did well
What they would recommend they change next time
Observer gives feedback based on their notes from the feedback form
Be very specific
Observer gives the feedback form to the Sales Associate
Review the slide to explain how to conduct the 5 minute feedback session as part of each practice round.

16. Skills Practice Debrief
What worked well?
What would you focus on for next time?
What specific steps in the process did you find particularly helpful?
How are you feeling about using the Price Trend Analysis to conduct the Pricing Discussion?
Reveal each question on the slide to conduct a full group discussion on the participants’ comfort level applying the 5 steps for conducting the pricing discussion using the Price Trend Analysis.

17. Thank You!