Getting Hired By Expireds Part 2

1. Getting Hired By ExpiredsPart 2

2. *Prep for This Week’s Session* Test run the automated pieces of the presentation before the meeting (slides 14-18 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. 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. 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. 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. 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. 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. 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. 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. 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: • 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 • 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. Observation: 2. The price was dropped 1 month ago.

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

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. 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.