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Companywide Webinar

LIVE. Companywide Webinar. From Weichert, Realtors Morris Plains, NJ. Real Estate Market Update. Jacé Botti, Head of Residential Sales. 2013 Even Better!. Welcome. Carlo Siracusa Sales Manager Corp Headquarters Res Sales, NJ. Dominick Prevete Regional Vice President

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Companywide Webinar

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  1. LIVE Companywide Webinar From Weichert, Realtors Morris Plains, NJ Real Estate Market Update Jacé Botti, Head of Residential Sales

  2. 2013 Even Better!

  3. Welcome Carlo Siracusa Sales Manager Corp Headquarters Res Sales, NJ Dominick Prevete Regional Vice President Northern New Jersey

  4. February 2013 Real Estate Headlines

  5. February 2013 Real Estate Headlines From Lawrence Yun, NAR chief economist. [NAR Release 2/11/13] • “Unsold listing inventory is the lowest level in 12 years.” • “In fact, buyer traffic is 40 percent above a year ago.” • “Total housing inventory at the end of January fell 4.9 percent…which represents a 4.2 month supply. It’s the lowest housing supply since April 2005.”

  6. February 2013 Real Estate Headlines

  7. February 2013 Real Estate Headlines Increase of 7.3% for 2012 Jan Feb Mar Apr May S&P Case Shiller 2/2013

  8. Spring 2013 Market Conditions • Dramatically reduced listing inventory levels. • Multiple Offers on the vast majority of houses going under contract. • Greater number of Exclusive Listings taken by competitors. • Heavy buyer demand especially in the more popular neighborhoods.

  9. Absorption Rates by Region Local MLS

  10. Most Affordable Listings Virtually No InventoryAll Markets

  11. Why is thisHappening?

  12. Why is This Happening? • Improved job market • Fiscal Cliff behind us • Consumer Affordability and stronger consumer confidence • Post election pent up demand • Low interest rates • Overall positive real estate industry news • Wasn’t the world suppose to end on 12/21/12 according to the Mayan calendar?

  13. 2013 Real Estate Market Mentally Shiftinto aDifferent Gear

  14. Get Listings Go Out After Them

  15. Increase Our Calling to Prospect for Listings How?

  16. SIGN UP TODAY! Your Sales Managers will be holding TWO NEW CALL SESSIONS EACH WEEK New strategies for calling and getting appointments When?

  17. Exclusive Weichert Listing Agreement Local MLS

  18. Exclusive Weichert Listing Agreement Rules of the Road What you can do: • Install a lawn sign • Sell to another Weichert Agent • Sign Agreement period through first Open House date • Only accept Open House Guests who will work with Weichert Agent in Dual Agency Capacity • List the Home on Weichert.com • Conduct office caravan What you cannot do: • Sell to another Brand X Agent • Ignore MLS guidelines to recording listing. Local MLS

  19. Let ‘Em Pay

  20. Use AnEscalation Clause AddendumonEVERY Contract of Sale* *in states where we can use them.

  21. Weichert’s Unique Negotiation Technique Escalation Clause Addendum

  22. Escalation Clause Dialogue Dialogue when speaking to buyers: “When faced with these extremely low levels of available inventory, there is a very real chance there will be additional buyers for the home you want.” “This is why I include an escalation clause in every contract of sale I present.”

  23. Escalation Clause Dialogue What is an escalation clause: “An escalation clause is simple language we include in your offer that authorizes your predetermined bid increments over all of the other bids up to your maximum purchase price.”

  24. Escalation Clause Addendum by State

  25. Escalation Clause Addendum by State

  26. Escalation Clause • NJ Form: Addendum to Contract of Sale (Multiple Offer Escalation) T-293 Forms Online • PA Form: Addendum to Contract of Sale (Multiple Offer Escalation) T-293 Zip Forms. • MD/DC Form: GCAARMC 1319 form on Zip Forms. • VA Form: K1306 form on Zip Forms.

  27. Have you ever used Ebay?

  28. You don’t always pay your “maximum”

  29. Increase your offer just enough to be the high bidder:

  30. You set your offer, the bid increments and your maximum price up front:

  31. Escalation Clause • $449,000 Asking Price. • 6 Offers. • $460,000 Offer with Escalation of $5,000 over best offer up to $500,500. • Highest other bid was $468,000. • Kevin’s buyer wins at $473,000. Kevin Long Sales Associate Morristown East, NJ

  32. Call to Action • Let ‘Em Pay! • Plan on every offer being a multiple offer. • Incorporate Escalation Clause Addendum with every offer. • Try to get Exclusive Listing until your first Open House, there’s a good chance that you’ll sell it yourself. • Get Listings by going out after them. • Participate in your newly formatted Listing Prospecting Call Sessions.

  33. Weichert’s Sales Leadership Spring 2013 • New Weekly Call Sessions for Prospecting for Listings. • New techniques for making listing appointments • Sales Managers provide names/telephone numbers for local markets • New Support of Weichert Exclusive Listings • OSSii Exclusive System which provides our exclusive listing inventory • Sales Manager Training on how to get more

  34. Weichert’s Sales Leadership • New Training and Support for Escalation Clause Addendum • Dialogue for Buyers • Sales Manager support overcoming objections.

  35. “We are not confused about what’s happening here…the next 10 years will be fabulous!”Let us take you by the hand and lead you through it… Jim Weichert Founder and President

  36. Thank You for Your Time Today

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