Wednesday, April 26, 2017

How to connect with these motivated yet frustrated prospects

By Julie Escobar, Director of Corporate Marketing, ProspectsPLUS!

Remember not so long ago when expired listings seemed a thing of the past? While those days might be gone, there is still some good to be found. Expired listings carry quite the silver lining for agents with the right attitude, tools and tenacity.

Our changing economy and shifting market has created the perfect climate for expired listings. More often than not, homeowners have unrealistic ideas on their home’s true market price. Those ideas often lead inexperienced agents to cater to the homeowner’s desire to set a price on the highest end of the market spectrum—and right out of the market to sell the home. 

With the right skills, a few handy tools and a healthy dose of confidence, you could become the go-to agent for expireds in your neck of the woods! The great news is that these prospects can—and should—be part of your daily routine. 

How do you find them? Services such as www.landvoice.com and www.theredx.com compile expired lists and scrub them against the Do Not Call Registry. Both are great organizations with solid reputations.

The easiest method, however, is to check your MLS every morning for the expired listing list. Make this a must-do in your daily routine, and you will soon notice real patterns in your marketplace. Once you recognize the spikes and lulls in your area, you can concentrate your efforts at those times. The first and last few days of the month typically are busiest. 

Consider, too—especially as we head into the holiday season—an exceptionally effective strategy that our ProspectsPLUS! team recently learned from Walter Sanford. During the first three days of January, when every other agent in town was still recovering from the New Year holiday, Walter hired a team to contact every expired in an extended area and lock down a sizable listing inventory to kick off his year! How about that for setting yourself up to be in the right place at the right time? 

How do you approach them? Remember that expireds are often leery of salespeople. They had a goal of selling their home and now find themselves disappointed, sometimes angry and often frustrated. This is a case where attitude really is everything.

Patience, warmth and the ability to bring real solutions to the table will make you the frontrunner for those homeowners who are still eager to get their property sold. If you find some who want to try it on their own for a while, inviting them to participate in a free FSBO conference call each week is a great way to make a friend (and possibly gain a client) in an unobtrusive way. 

How do you convince them? You need real-world marketing tools and skills for these prospects, because they need realistic expectations and a clear understanding of what the market will or will not allow. Visuals, objection handlers, a definitive action plan and a clear communication calendar are must-haves for your listing presentation. A Merchandising Review™ and the Price Pyramid are invaluable tools, as well.

Merchandising Review™. The #1 reason listings expire in this or any market is price. A Merchandising Review™ puts the burden of marketability directly on the seller’s shoulders.
As soon as a property comes up on the MLS expired list, you should contact the seller by telephone and use the Merchandising Review™ as a reason to set an appointment. The following dialogue is a great foot-in-the-door technique:
“Hello, Mr./Mrs./Ms./Miss ____________, my name is _______, and I’m with ______. The reason why I’m calling is to see whether you’re still interested in selling your home.
“I know that you must be disappointed that it didn’t sell the first time, but I think I have something that will ensure it never happens to you again. Have you ever heard of a Merchandising Review™?
“Basically, it’s a special tool that I use to do a comprehensive analysis of why your home didn’t sell and determine what needs to be done differently to guarantee that it will sell if you decide to put it back on the market.
“What I’d like to do is set a time when we could sit down together and go over the Merchandising Review™. It takes about 20 to 25 minutes, and there’s absolutely no cost to you. Would Wednesday at 6:15 be good, or would Thursday around 8:30 be better for you?”
During your face-to-face meeting, walk the homeowner through each item, and negotiate the issues that are keeping the property from selling. Once you correct the issues, present your marketing plan. E-mail julie.escobar@prospectsplus.com for a free pdf of our Merchandising Review™.
Price Pyramid. This great tool helps sellers see how pricing their home right can dramatically affect how long it takes to sell and how much money they will see at the closing table. This visual illustrates the difference between market price and investor price and shows how to find a happy medium.
The important thing to remember with expireds—as with any prospecting demographic—is that the agent with the most consistent follow up wins. Try these tools, or visit www.prospectsplus.com and click on Featured Articles and Past Newsletters for a library of resources, including articles about our Expired Conference Call™—a great way to have expireds calling you each week for advice and how-to help.

By developing a friendly relationship in a relaxed environment with these often-motivated sellers, you set yourself apart from the competition, create buzz in the marketplace that you are the go-to agent and provide a service for people who really need your help! Give it a try; you’ll be glad that you did! 

Greetings Gang!  Just months ago we introduced our FREE series of marketing-based webinars for our clients across the nation and they have been met with great reviews, terrific questions and much curiosity about what topics we will cover next! 

I wanted to take the time to share our current calendar of events that will take us through the end of the year and let you know that we have lots more in store for you all in 2008.  We will include additional business planning, management and recruiting topics as well as provide Webinars-On-Demand! 

December 3rd: Unlock the Magic of MLSmailings.comTM
Join our helpful support team members as we walk you through the step-by-step simplicity of automating your marketing with MLSmailings.com. Whether you are creating a QuickCard, uploading a photo, or changing your order, we invite you to laugh and learn with us! Unlock the magic of MLSmailings.com!

December 5th: Planning for Profits in 2008! Presented by Wayne Einhorn
Learn the inside secrets and best solutions in the industry for leveraging a changing market, maximizing your earning potential and creating repeatable, sustainable success. Are you ready for your best year ever? Join Wayne for a step-by-step plan to close out ’07 and have a great ’08!

December 10th: Working with Expireds presented by Mike O’Boyle
More and more as our market normalizes agents find themselves facing expired listings. How can you turn this particular prospect base into a gold mine for your business? Tune in to learn some of the best strategies in the industry for doing just that!

December 17th: ProspectsPLUS! 101 presented by Billy Allen
A beginner’s course on how to fully utilize your ProspectsPLUS! software, including setup and placing your first postcard order.

Click on the Webinar(s) you are interested in above. You can register for multiple Webinars. All Webinars are completely free*! All Webinars start at 1:30pm Eastern Time.  Advance registration is required.  These events are a fun, convenient way to learn and our pleasure to bring to the real estate industry at large.  Interested in learning more?  Bookmark our site:  www.prospectsplus.com/webinars to stay current on upcoming training! 

For those of you who are more article and newsletter oriented, please feel free to browse our library of articles and archive of past newsletters simply by visiting our site www.prospectsplus.com and clicking on Feature Articles and Past Newsletters in the navigation pane to the left. 

As entreprenuers of all kinds – it never hurts to have additional resources at your fingertips.  I believe one of the greatest tools we have now is the ability to learn 24/7.  To be able to listen to your favorite motivational or training speakers at the click of a mouse, discover new technologies, techniques or skill build at whatever time of day or night is convenient for you is exciting. 

There has never been a better time to become the best you that you can be, personally or professionally!  I look forward to participating in that process whenever possible.  Bringing the right tools to the right people is more than just part of our mission statement — it is our passion. 

Let us know if there is ever anything we can do for YOU!

Internet HappyGood day friends!

As you may or may not know, one of the exciting parts of my job at ProspectsPLUS! is to create with my team of graphics gurus new marketing campaigns and pieces that drop seamlessly into our software program each month for our over 60,000 customers across North America!  While that might not sound exciting to you — it does give me an opportunity to put new timely, relevant, USEFUL tools in the hands of real estate and mortgage professionals every 30 days.  Call me a maniac – but to me – that really is a great gig! 

So I had a thought last night as I was prepping my list of things to do this week…(does anyone else’s list seem to get longer rather than shorter on a regular basis?)  What kind of marketing materials can we create to help our blogger friends spread the word about their blogs?  So, since one of my favorite things to do is ASK THE EXPERTS – I turn to you!  Having only been at this blogging thing a brief while, I must say how incredibly impressed I am with this community.  I have found it warm, welcoming and full of insight and ideas!  THANKS!

Our software currently contains over 600 marketing pieces including postcards, flyers, brochures, ads, presentation tools and lead generation systems, so any successes you may have found in one of those categories would be a huge help!!!

So tell me, oh wise ones, if you will…what’s worked best for you? 

Inquiring minds want to know!

It’s ALL in the preparation!Holiday Gift
By Julia Escobar, Director of Corporate Marketing

From marketing and meal making to everything in-between, surviving the mad holiday dash while maintaining your momentum (and sanity) requires the same common sense and careful planning needed before a big feast, a houseful of company or the exam of a lifetime. It’s ALL in the preparation!

1. Find your center. That might sound like a lot of new-age hot air to some, but there is real power in finding and keeping your focus when your world is spinning at lightning speed. Knowing who you are and where you are going gives you the energy you need to succeed and keeps you grounded as you put one foot in front of the other each day. A good way to start is to begin each morning with positive affirmations of your goals and life and an open journal page on which to write your daily to-do list. No time, you say? Turn that clock back an extra 15 to 20 minutes, and make the time. Success in this industry and in this market requires balance, dedication and fearless focus. Find your center, and you might just be pleasantly surprised to feel your energy increase, your momentum build and your quality of life improve beyond your dreams.

2. Have a plan. Ready, set, go! Grab your calendar, your kids and your significant other, and plot your course before the holidays arrive so that you can carve out a healthy balance of fun and work–and even capture a few precious moments for yourself! Take a look at your travel schedule, school calendars, office events and customer needs, and carefully block out your time in advance–including some well-deserved “you” time so that you can regroup and reenergize each week in an effort to be your personal best.

Holiday_TableSix Strategies for Maximizing Your Market
By Julie Escobar, Corporate Marketing Director

Setting the table for a successful new year means starting early for savvy real estate professionals.  While much of the competition falls into cruise control, plan holiday parties or simply wait for the economic shift to suit their style, top producers turn up the heat to sweep the market share in their absence. 

1. Prospect, Promote and Prosper.  In changing markets, many agents stop advertising, re-direct their marketing dollars to the year ahead and put their prospecting in park until after the holidays.  Stay forward of the competition by continuing to market yourself with creative, consistent, targeted marketing.
 

2. Spread the Holiday Cheer.  Make the most of this opportunity to reach out to your client base with face-to-face visits.  Choose fifty or so of your top prospects and make plans to visit them.  What may seem like a lot of time, can really be broken down into 10 or so contacts per week.  Would that be worth a sale or two?  Sure it would.  Make the calls.  Shake hands, bring a card and thank these very important people for their contribution to your career.  For those really special clients, bring along a treat for their family table and you’ll find yourself more than their REALTOR® you become a friend.   

3. Clean Out Your Client Base.  Most agents wait until January to truly wade through their client base.  Getting an early start means momentum as you head into the New Year when most are still putting away party hats and streamers.  If you don’t currently have a means of tracking your clients, visit our site, www.prospectsplus.com for a free BusinessBASE™ client management system.  Getting to know your prospects, their families, their needs and their personalities will help you build long term, solid relationships that bring you current listings and sales as well as referrals that will build your book of business throughout your career.
 

4. Live and Learn.  What a tremendous time to be a professional salesperson.  Never before in history has education, skill-building and growth as an agent or as a person been more simple or accessible.  How fortunate we are to have internet, 24/7 that allows us to tap in, download, read, discuss and explore ways to improve our life skills personally and professionally.  Make it a goal this quarter and coming year to consistently fine tune who you are and what you do.