Tuesday, February 21, 2017

Dialogues to Help Get Your Listing Priced Right the First Time

by Julie Escobar

Getting past what the seller THINKS their home is worth to what the market will bear is sometimes a little tap dance in sales skill for agents. To help the cause, I pulled a few excerpts from our 21 Ways to Get Your Listing Priced Right eBook, and tapped a few friends for some powerful dialogues and strategies that can help you get sellers to sign on the dotted line.

Here are a few:

  1. The Waiting Game: Use when a seller wants to wait to lower the price:  Dialogue: “Let me ask you, what do you think happens to an overpriced home that doesn’t sell right away?  Do you think it eventually sells?  More often than not, the answer to that is no.  Listings get the most traction in terms of buyer traffic, agent attention and offers in the first 2-4 weeks after coming on the market.  If you wait, you’ll lose that traction.  Worse than that, the longer it sits on the market, the more buyers will begin to wonder if there are more serious problems than price in terms of why it hasn’t sold yet.  Think about it… what’s the first question you would ask when you look at a new house?  How long has it been on the market – right?  Long time on market = problem in the eyes of a buyer.  In this market, or any market – that’s not a position that can give you any kind of leverage.  Let’s price it right and get it sold.”
  2. Pick a Price: This is a good strategy to use when a seller says another agent would take it at an over inflated price.  “Mr. and Mrs. Seller, I appreciate that you want to get the most from your home, and I know the other agent told you he’s list it at that higher price.  Now, what I don’t know is how he/she could have gotten that number.  You know as agents, it’s not like we can really just ‘pick a price.’ When I brought you what I felt was the right asking price for your property it was based on many facts and factors such as what other similar homes in this area have sold for, the age and condition of your property, the location, etc.  So, it’s not a guess – it’s based on real market value. So, what I’m saying is as a Realtor who has your best interests at heart, I’m not going to pick a price out of thin air, and I can’t in good conscience just tell you the figure you want to hear in order to take the listing.  I will tell you that if you really want to get your home sold quickly, get the most money possible in this market with the least amount of headaches – we should ‘pick’ a price that’s based on those facts and figures.  Agreed?”  Have your comparables there to illustrate how you arrived at your suggested list price.
  3. The Dollar Bill Close from our friend Darryl Davis: When faced with this classic: “My home is special – I did all of these improvements myself, so it’s worth much more than what others are listed for! I would say, “Mr. and Mrs. Seller, I certainly understand how you feel. But let me ask you something. If I were to give you one hundred $1 bills that were crisp, clean, beautiful, and hot off the presses – and I sent you to the mall and asked you to sell them for 95 cents you’d probably sell them pretty quick wouldn’t you? And if I asked you to sell them at 85 cents even quicker – right? Now, what if I asked you to sell each for $1.10? You probably wouldn’t sell any – am I right? The point is that no matter how crisp clean and beautiful your house is, you can’t sell a dollar for $1.10. Now let’s say there are only two dollar bills – one crisp clean beautiful and one that’s ratty, old, stained and dirty. If you had a choice which would you choose first? The clean one right? So, what I can tell you is that while all the wonderful improvements you’ve made won’t mean it will sell for more, it does normally mean it will sell before the others.”
  4. Reduce the Price or Cancel (A favorite from Floyd Wickman.) Sometimes a good way to get a price reduction is by offering to cancel the listing. This is from Floyd’s 101 Dialogues.  “Mr. & Mrs. Seller, the reason I asked to come by tonight is that we had a meeting concerning your home in our office.  And I think in attendance we had collectively, about 70 years of real estate experience and we all agreed that if we were to keep your home on the market at the current price, well, it would be like not having it on the market at all. So, the reason I wanted to come by is that I brought over two forms for you to look at.  The first form I brought with me is what we call a Price Change Form.  It was collectively agreed that if you want to get your home sold, this is the price we have to adjust it to.  Now it’s not easy for me to say that after I’ve had the house on the market for a couple of months, but 70 years of experience agreed that this is the price your home will sell for. But before you say anything, I wanted to tell you that second form I brought over is a complete cancellation of the listing form.  Now, if you can see your way clear to signing this (price reduction) tonight then I’ll be able to get your house sold and get you into the new house relatively fast.  If you decide to sign this cancellation and assuming my broker will, this will free you up to list with someone who – well – maybe doesn’t care.  So, the reason I wanted to stop by is rather than keep you tied up the way we are I wanted to stop by and have you ‘OK’ one of these tonight.  Fair enough?” Be sure you have a copy of both forms with you and stick to your guns!  This technique is not for the meek!  You may want to practice the dialogue a few times until you’re comfortable.

Pricing dialogues and negotiation skills take practice, drill and rehearsing.  One of the most powerful things you can do as an agent is to know your market inside and out, know the numbers and practice the closing skills that will help you take more SALABLE listings each month. As Floyd would say, “Worse than no listing is a listing that won’t sell.” Don’t find yourself in that category.

To learn more pricing skills head over to read more about our eBook at 21 Ways to Get Your Listings Priced Right (Despite the Sellers Best Objections!  In it you’ll find bonus objection handling visuals and tips from industry experts.

Need more marketing help? Contact our team at 866.405.3638!

Leaving Nothing Left to Chance

By Julie Escobar

Competition hasn’t been this fierce in years so savvy agents are using every tool at their disposal to generate new listings, stay top of mind, and brand themselves as the neighborhood expert to call.  Staying in touch with the VIPs in your sphere of influence makes sense. Those folks know you, trust you, and are already willing to do business with you. But how do you cultivate new relationships in markets that you really want to make an impact?  You use smart tools that connect you with consumers in communities. You offer items of value. And you get out there and meet the people.

Todd Robertson recently shared five tips for making the most of your geographic farm and sphere:MD Jan

  1. Ask for referrals. Never be afraid to ask for new business. When you get comfortable with the level of service you provide, asking for the business gets easier. Get to the point where you KNOW that you have a marketing plan that helps sellers get the most from their house. Know that you can assist buyers in finding the perfect home for their family. Know that you are an advocate for consumers, and know that you are the best person for the job – then you have an obligation to let people KNOW that you are a real estate professional who can help.
  2. Mail consistently (3-7-27 law). We’ve shared before the 3-7-27 law of branding, which is that it takes three contacts for someone to recognize your name, seven to put your name with your business and twenty-seven to become a brand in someone’s mind. If you are losing business to other agents in your market area, is it because they are consistently md jan backmaking more contacts and staying more top of mind than you are?  It’s a tough question to ask, but if you can show up, and show value consistently, then sellers and buyers are going to consider you the brand to trust with their real estate investment questions and needs. Mind-share equals market share.  Our Market Dominator members know that they are showing up month after month with the 12×15 Market Dominator to ensure this kind of consistency and value are creating that mind-share and market share.
  3. Let people know what areas and price points that you service. Through your marketing and prospecting, let people know where you do business. If you’ve ever lost a listing because a friend or acquaintance said, “Oh, I didn’t know you worked that area,” you’ll get the message behind this step.
  4. Train on how you take referrals. Let folks know that their referrals are important to you and how they can best deliver that information to you. “Shoot me a text, an email – or give me a call if you know someone who is looking to buy or sell a home.”
  5. Thank your VIPs. Thank everyone for their referrals. Go the extra mile. Send a card or letter to them after the fact. Say, “Thank you for your kind referral. It’s the lifeblood of my business and no small thing, I know, so I appreciate it. Know that I’ll treat them with the highest possible level of care and you can rest assured they, and their interests, will be well taken care of. I’ll also keep you posted on how that referral is going so that you know your friends or relatives are in good hands.”   Stand out in every way. People want to do business with those who they know can get the job done with the least number of headaches and the highest return on investment. They also want to work with people who are service-minded and extraordinary in their client care.  That old adage, “they don’t care what you know until they know that you care” has never been more true.

Spring is right around the corner. Showing up in every way possible in your market place is critical to owning that market share.

  • Take the time THIS month to put your plan in place to ask for referrals. Can you make ten extra calls this week towards that goal?
  • Be consistent. The 12×15 Market Dominator is a powerful way to show up each month with value-added content and calls to action. Follow those mailings up with phone calls and door knocking in that geographic farm to help folks put your face with your name and know you are a resource they can count on.
  • Review your marketing tools, your website and social media. Are you letting people know the areas you serve?
  • Remember to let people know how to reach you if they have referrals. Review your business cards, email signature line, and marketing tools.
  • Send thank you messages weekly. We’ve got some easy-to-order Thank-You postcards that can streamline that process.

Make geo-farming a top priority this season and you’ll start to see returns on that investment. Stay strong, and let us know if we can help you. If you’d like to learn more about the Market Dominator, call Todd Robertson at 702-683-1967.

Need additional marketing help? Contact our team at 866-405-3638.

To Drive Leads and Attract More Listings

By Julie Escobar

Did you know that there are over 50 designs in our Content Card series?  Agents are loving them for a fast and easy way to stay in touch with their sphere and farm, and position themselves as a resource in their markets.  The best part about it is — they don’t have to come up with any content. We do all the work! Agents tell us that they like using them as a newsletter alternative as well since they contain great, consumer-friendly information, just in smaller quantity.  All the agent has to do is choose their mailing list, add whatever personal touches to the copy on both sides and and place their order!

Here are five ways you can use the content cards to drive more customer leads, increase your credibility, and
present yourself as the turn-to agent to call:

  1. Send one per month to your sphere or farm (or both) to easily stay in touch and brand yourself as an content 4information specialist.
  2. Choose several of your favorites and have them printed and shipped to you to use as leave-behinds in local businesses, as open house collateral, or as fair trade offers when prospecting.
  3. Purchase as a pdf and use as a downloadable item of value on your website.  This allows you to
    build your email database.content 5
  4. Each one of these is popular subject matter for consumers. Why not channel your inner Toast Master and create some local real estate workshops that you can present to area consumers?  Print and
    ship the card with the topic of your choice to hand out at your event.
  5. Share on social media.  For many agents figuring out WHAT to say on social media content 6leaves them stumped.  These tools are perfect – with titles like “4 keys”, “5 ways”, “5 factors” – you can share one a day during the work week and invite followers to email you for the whole list.

You can even send them the .pdf you’ve downloaded!

Get started today and kick your marketing into high gear!  See our Content Cards, choose your favorites and start driving credibility and new customers! Oh, and click here to get our latest promo codes and save 10% on your order!

As always, if you need help, contact us at 866.405.3638 – that’s what we’re here for!

Happy listing!

Was YOUR Name Drawn?

Wow! A big thanks to all our amazing contestants this past month! We had some terrific entries – and we thank you all so much for sharing your ProspectPLUS.com experiences! If your name wasn’t drawn – no worries!  We’ll choose three MORE winners March 2nd. Congratulations everyone!

Our $250 winner is Scott Wolf‎ who shared, “I have recently returned to my original farm area after an 18-month absence. One of the best ways for me to reacquaint myself and let my sphere know what I was doing was to send out high quality postcards. I choose the jumbo size that emphasized pictures with high quality pictures of my new listings to support my brand promise. Quality over quantity. My farm while using mobile technology more and more are still the paper generation. The new jumbo cards are a good value that has high perceived value with my audience of 1,800 doors in an upscale 55+ community. ProspectsPLUS! is my quick reaction force when I need get a campaign out fast. I have gone from 2 listings to 9 in just 60 days. Paper does work and the various layout designs that the jumbo cards offers is modern, classy and catchy!”

Our $100 winner is Charlie ‎‎Pagan who shared, “I just signed up with them and ordered business cards and I must say, the service thus far is excellent. I got a call from one of their representatives letting me know that my picture was blurry and to kindly forward a new one. I liked that, because she held back my order until such time things were done correctly. Now to me, that’s service. Other companies would have possibly just sent it as is, especially when you have taken advantage of a first-time bonus offer. In this company’s case, they simply made sure that I get what I paid for. I will continue ordering through them and by the way, the prices are excellent as well.”

Our $50 winner is John Fulsaas‎ who shared, “I received an email from Ramona with ProspectsPLUS! after selling a listing in Beaumont, CA. The email wanted to know if I wanted to send postcards announcing the sale to 100 homes nearby for about $70. I went ahead and gave it a try. Later I received a phone call from a homeowner on the same street who wanted me to sell their home. It worked out perfectly!”

Thank you to everyone who entered! Ready to throw your hat in the ring? It’s easy!  Leave your review of your ProspectsPLUS.com product or service on our Google+ Page or our Facebook Page today!  We’ll give away a total of $400 more in ProspectsPLUS! gift cards!  Next drawing is March 2nd!

We’d also like to invite you to join us in our goal to raise $50,000 for St. Jude Children’s Research Hospital®! We are matching every donation this year, dollar-for-dollar! Learn more at: blog.prospectsplus.com/st-jude.

Strategic Marketing Ideas for Strong Agents

by Julie Escobar

As competition grows more fierce, you may find yourself like many agents asking, “What’s my next move?” Savvy sales professionals are negotiating the turn by investing in smart systems and tools that will help them compete long-term in today’s real estate arena. Who will take the lead in both listing and selling homes as we navigate this constantly shifting market? Those who stay strategically focused on one-to-one marketing, negotiating effectively up front, and committing to consistent business development through monthly prospecting.

1. Set Your Standards High: In any market, taking listings that just won’t sell is far worse than having no listings at all. While you may be tempted to take at any price, terms or commission to secure the listing, this is a recipe for failure. Consider instead, raising your standards using a strong, effective tool which spotlights the homeowner’s commitment to getting the home sold in the quickest possible time, with the best price and terms. We call it our Merchandising Review and there are three very successful ways to implement this valuable tool.

First: Make the right mutual decisions at the listing appointment. In all likelihood, throughout your MerchandisingReviewTHUMB
presentation your sellers will have an objection or two regarding terms such as price, commission, etc. Our suggestion is to agreeably shelve objection handling until AFTER you have obtained the signatures for the listing. Then close your appointment by going over the Merchandising Review to make certain everything is in order.

Sample dialogue: “I want to thank you for listing your home with me. Please know that I will do everything in my power to get it sold. To help me do just that, let me take a few minutes to go over our Merchandising Review. I use this the same way pilots use a pre-flight checklist. This list of 18 different seller-controlled factors actually will help generate a quicker sale for the best possible price and terms. What I need from you is a commitment to check off at least eight of these items. Let’s review.” Then simply walk them through the list and negotiate where necessary. If you struggle to get listings priced right or are looking for additional tools to help you handle objections you might hear, you may wish to consider reading 21 Ways to Get Your Listings Priced Right the First Time. 

2.  Get non-selling inventory back on track. Go through your inventory and red flag problem listings. Walk PricePyramidTHUMBthrough the problems using the Merchandising Review and the Five Most Common Mistakes tools. Contact your sellers by phone or visit in person to help them understand those review items that are hindering the sale of their home.

Sample Dialogue: “Mr. and Mrs. Seller, we’ve had your property on the market for ____ days now and we are not getting the results that either of us had hoped for. We have a new tool called the Merchandising Review that helps us identify problem areas, and I’d like to sit down with you to discuss those issues. I believe if we walk through these items we can get your listing back on track and help exact a faster sale for your home. Would tomorrow at 6:00pm be good or would 8:30pm be better?”

3. Data mine for the niche that’s right for you.  By targeting niche markets that are near and dear to your own interests, you’ll be better able to “speak their language” and let your passion for that market segment build the momentum you are looking for.  For example, do you love listing and selling waterfront properties?  Is boating the way you unwind?  Now, it’s easy to find and market to like-minded people and work not only with your sphere — but consumer interest groups that most resonate with you.  That way you are growing your book of business with the kind of folks you are most interested in working with. (And that just makes work, and life, a whole lot more interesting, don’t you think?)

It’s never been easier to do.  

Use Option 2 on our Mailing List page to search for the customer segments you most want to market to:

mailing

  1. Choose High Income Consumers for luxury or investment property.investor
  2. Choose the Lifestyle Interest option for a treasure trove of niche markets such as golfers (golf community property), Tennis enthusiasts (high end home with tennis courts, or communities with tennis centers), Boat owners (waterfront properties), etc.
  3. Look to High Income Renters for high quality first time home ownership options and communities that are high in amenities, low in upkeep.  lifestyle
  4. Choose baby boomers and elderly if working with seniors is your passion.  Very often this will lead to developing powerful, referral relationships with the seniors and their children.
  5.  Choose move up market for those who have been in their homes over nine years and statistically are a good candidate for a move.  Help them list their current home and find their new dream property!
  6. Empty-nesters are a great segment to market for downsizing move upopportunities.  With the right marketing twist, you could end up listing their current home, and helping them purchase their new home.

These market segments are just the tip of the iceberg.  Find the niche that most works for you.  Watch all three videos regarding the mailing options  that are available to help agents find the perfect customers.  From radial searches, to demographic searches to all new Nielsen Prizm Code data, the possibilities are endless.

Whatever strategy you deploy this season, make sure your message is clear and marketing consistent. Call, see or send something to everyone in your base of business at least every 30 days and you will find that your productivity, profitability, referrals and commissions will be on track all year round.

Need help?  Call our marketing team today at 866.405.3638 to put the best systems in place to build your business easily, and cost-effectively.