1. Getting Hired By Expireds Part 2

2. *Prep for This Week’s Session*
Test run the automated pieces of the presentation before the meeting (slides and slides 25-32).
Speakers for the automated pieces. Note: Every automated slide has in the lower right corner so they can be easily identified.
Have copies of the Diagnosis Checklist available to distribute on slide 18.
*Delete this slide before presenting *

3. Let’s look at the second guideline.
This Week’s Session
Building the relationship is the first guideline to follow for getting hired by expireds, but it is not the only one.
In order to secure – and sell - this listing, you need to follow two additional guidelines.
Let’s look at the second guideline.

4. Getting Hired By Expireds
Let’s focus on the 2nd guideline:
Develop the relationship before the listing expires.
Diagnose the reasons why the listing expired.
Show how your approach will get their house sold – this is your prescription.

5. Let’s share some ideas, then we’ll look at a diagnostic tool.
2. Diagnose the Problem
Before you can help, you need to understand why the original marketing plan hasn’t worked.
Let’s assume that you’ve gotten invited in. While you’re talking to the seller, what are some questions you could ask to diagnose the problem?
Let’s share some ideas, then we’ll look at a diagnostic tool.

6. 2. Diagnose the Problem Using the Diagnosis Checklist…
Use this checklist to ask the right questions to identify why the house hasn’t sold.

7. Here’s the checklist. Let’s review it together.
2. Diagnose the Problem
Goals of Diagnosis Checklist:
To understand Brand X agent’s marketing plan.
To understand what the seller thinks about the agent.
To engage the seller in listing with you.
To show you’re different.
To identify opportunities for you to provide a solution.
Here’s the checklist. Let’s review it together.

8. 2. Diagnose the Problem
At what point should you start using the checklist?
If you’re previewing…after they give you a tour, ask for permission to ask them some questions.
If you’ve been invited in…the same applies. Ask for a tour, then ask for permission to ask them questions.

9. 2. Diagnose the Problem
Here’s a great sales technique for using this checklist:
Sit down with the seller and fill out the first two items for them.
Then hand the pen and checklist to the seller and ask them to fill out the rest while you talk them through it.
Getting them involved is a way to engage them in seeing you as the solution.

10. Let’s move to the third guideline.
What’s Next?
You’ve completed your Diagnosis Checklist. Before you leave:
Don’t provide any solutions – yet
Leave behind your profile/personal information and the Weichert Brochure
Set up the 2nd appointment now
Let’s move to the third guideline.

11. Getting Hired By Expireds
Let’s focus on the 3rd guideline:
Develop the relationship before the listing expires.
Diagnose the reasons why the listing expired.
Show how your approach will get their house sold – this is your prescription.

12. 3. Create Your Prescription
Analyze what you learned on your checklist:
What can you and Weichert do better?
Learn from the prior agent’s mistakes!

13. 3. Create Your Prescription
Create a plan to demonstrate how you and Weichert will be the difference in getting their house sold.

14. Real Life Scenario
Let’s look at a real example of a listing that was about to expire and how Cheryl, a Weichert Associate, got the listing sold.
We’ll listen to her situation.
Then we’ll look at what she learned by using the Diagnosis Checklist.
Together we’ll create a prescription.
Cheryl, a Weichert
Associate

15. My Situation
I had an Open House and invited a seller whose house wasn’t selling.
The seller invited me in to their home and showed me around.
I used the Diagnosis Checklist to understand why the original marketing plan failed.
I’m going to tell you what I learned.
I’ll give you a chance to discuss what you would do that would be different from the Brand X agent.
Then I’ll tell you what I did and the end result.

16. Facts About This Listing
8 Aspen Court
4 bedroom, 2½ bath with 2 car attached garage
20 year old Colonial on quiet residential street
Listed 10 months with 2-person real estate brokerage in neighboring town
List price $599,900

17. Here’s What I Learned By Using the Diagnosis Checklist
Listing broker’s office has part time office hours
Office located out-of-town
List price to tax assessed value placed it in “reasonable” range for pricing
Electric heat
No broker Open House
One public Open House

18. Here’s What I Learned By Using the Diagnosis Checklist
MLS did not promote or show photos of updates and good structural condition of the 20-year old house which had:
new kitchen
new baths
new siding
new roof
in-ground pool
Click to the next slide.

19. Now It’s Time to Create a Prescription
Let’s look at each of Cheryl’s observations and figure out our solution.
Once we’re done providing all of our solutions, we’ll hear Cheryl’s prescription for each one.
Let’s look at each observation then provide our solution.

20. What can Weichert do differently? Let’s share some ideas.
How Can Weichert Help?
Cheryl’s Observation:
Listing broker, a two person office with part time office hours, limits access to buyers and broker inquires.
Out of town broker location restricts broker networking and exposure.
What can Weichert do differently? Let’s share some ideas.

21. What can Weichert do differently? Let’s share some ideas.
How Can Weichert Help?
Cheryl’s Observation:
2. The price was dropped one month ago.
What can Weichert do differently? Let’s share some ideas.

22. What can Weichert do differently? Let’s share some ideas.
How Can Weichert Help?
Cheryl’s Observation:
3. Electric heat source doesn’t appeal to the majority of potential buyers.
What can Weichert do differently? Let’s share some ideas.

23. What can Weichert do differently? Let’s share some ideas.
How Can Weichert Help?
Cheryl’s Observation:
4. No broker Open House and only one public Open House.
What can Weichert do differently? Let’s share some ideas.

24. How Can Weichert Help? Cheryl’s Observation:
5. Given the house’s age, none of the major structural condition or updates were promoted
New kitchen
New baths
New siding
New roof
In-ground pool
What can Weichert do differently? Let’s share some ideas, then we’ll hear what Cheryl did.

25. Cheryl’s Prescription
Now let’s here what Cheryl did for each observation she made.
Cheryl, a Weichert
Associate

26. How Can Weichert Help? Observation: How Weichert can help:
Listing broker two person office with part time office hours limits access to buyers and broker inquires.
Out of town broker location restricts broker networking and exposure.
How Weichert can help:
Local Weichert Office has 80 full time sales associates.
Weichert office hours 7 days, 80+ hours per week – always available. Other Weichert offices nearby.

27. Cheryl’s Prescription
Observation:
2. The price was dropped 1 month ago.
How Weichert can help:
Validated their price by doing a Price Trend Analysis.
Continue to monitor prices in a rapidly changing market, and if appropriate, adjust price based on new information.

28. Cheryl’s Prescription
Observation:
Electric heat source doesn’t appeal to the majority of potential buyers.
How Weichert can help:
Seller offered concession. Added concession to comment section of MLS and placed placard at home with explanation.

29. Cheryl’s Prescription
Observation:
No broker Open House and only one public Open House.
How Weichert can help:
Broker Open House held on new listings
Public Open Houses held weekly with directional signs

30. Cheryl’s Prescription
Observation:
Given the house’s age, none of the major structural condition or updates were promoted
New kitchen
New baths
New siding
New roof
In-ground pool
How Weichert can help:
Repositioned copy to highlight “like new” property condition
Added multiple pictures of exterior, pool/landscaping, new kitchen, baths, etc.

31. I Was Hired by the Expired
So what happened?
I was hired by the expired.
Guess what happened next…

32. Within 32 days with Weichert!
The End Result
SOLD $595,000
Within 32 days with Weichert!
Click to the next slide for more tips.

33. More Tips for Getting Hired By Expireds
Search your MLS for dates when listings are scheduled to expire.
Set up a reminder 45 days in advance of listing expiration.
Schedule with the seller to preview their home right away, 45 days before expiration.

34. Getting Hired By Expireds
Remember:
Develop the relationship before the listing expires.
Diagnose the reasons why the listing expired. Remember to use the Diagnosis Checklist.
Show how your approach will get their house sold.