Release the Winner Within pt. 3 - Listing Interview
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Nationally renowned real estate guru shares his secrets for the perfect listing interview. Follow these tips and you will also score the job! http://www.blog.househuntnetwork.com/pre-listing-presentation-preparation/#.UzNk7cRDv-Q
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Release the Winner Within pt. 3 - Listing Interview
- 4. IF YOU ARE NOT THE FIRST AGENT TO PRESENT, OR IF THE MEETING IS DELAYED: • Presentation booklet • Video/DVD • Uniqueness to package • No price indicators • Professional appearance • Personal delivery
- 5. A unique tool that teaches a seller how to interview an agent. And, it prepares the seller to pre-select your services. Benefits: 1) Great pre-listing package tool. 2) Pre-sells your services. 3) Provides you with an educated homeowner. 4) Eliminates competitors. 5) Pre-handles objections. 6) Tremendously improves presentation impact. 7) Totally unique! Very professional!
- 6. UNDERSTAND THE SELLER: • Highest possible net • Fewest hassles The above is accomplished by the agent who can attract the greatest possible number of potential buyers into the property. (The supply & demand factor.)
- 7. DETAILS ARE EXTREMELY IMPORTANT: • Be punctual • Parking & entrance • You must do the presentation at a table • Be very respectful and courteous
- 8. BEGIN WITH A WALK-THRU: • Develop rapport • 100% focus on homeowner • Do not take notes • Do not discuss price • Compliment honestly & do not suggest repairs
- 9. THE TOOLS: • Pre-List DVD • Hardcopy booklet • PowerPoint presentation • Comps & paperwork • Stake sign & postcards
- 10. ORGANIZED WITH A PURPOSEFUL FLOW: • Focus on the seller • About you & your company • Education • 6 Factors – stress marketing & price • Summary
- 11. Selling Your Home: A Custom Marketing System Created for Mr. & Mrs. Jones Your Name Company Name Phone E-mail Web address
- 12. Your Home: 24250 Wayman St. If available, insert photo of seller’s home here. Otherwise remove this photo and move text below upward. Square footage: 3200 Bed / Bath: 4 bedrooms + 3.5 baths Year Built: 1998 Date Purchased: July 1998 Amenities: Pool, spa and horse facilities Lot dimensions: 2.5 acres
- 13. • Preview your home • Introduce myself • Introduce my company • Educate you about the selling process • Discuss our “Profit Maximizing” marketing system Today’s agenda: Game Plan
- 14. • Determine that we can work together, as a team, to market your property • Price your home correctly • Complete the paperwork • Begin the process of maximizing your home’s appeal • Implement our “Profit Maximizing” marketing plan Game Plan Today’s agenda:
- 15. Goals: • Your goals are: a) To maximize the net profits from selling your home. b) To minimize the inconveniences experienced while your home is moving through the selling process. c) Do you have any additional goals? • My goal is: a) To assure that your goals are reached.
- 16. Your Past Experiences: We understand that in every service industry there are individuals who offer incredible service and others who offer very poor service. How have your past experiences with the real estate community been?
- 17. • May I ask why you are planning to sell? • Will you be purchasing another residence? If so, where? • Do you have any special needs or concerns of which I should be aware while marketing your property? • Is there anything I can do to make the selling process easier for you? Your Needs:
- 18. An Introduction: May I introduce myself? • My background / resume’: A resume’ is included in the hardcopy portion of my presentation.
- 19. My Qualifications: • My credentials & education/training
- 20. My Accomplishments: • My awards and successes A reference list is included in the hardcopy portion of my presentation.
- 21. a) As your agent of choice, my responsibility goes far beyond placing a sold sign in front of your home. My job is to make the selling process one that is stress free, easy to understand and as enjoyable as possible. b) To fulfill my obligation, I must meet and exceed your every expectation. c) My goal is the good life for my clients and my good clients for life. ©drozcorp2001 My Philosophy:
- 22. • Strengths • Brand recognition • Awards/accomplishments • Unique marketing tools My Company:
- 23. • Internet presence • Advertising • Referral network • Successes My Company:
- 24. Choose List Price The Selling Process: Choose an agent Choose time frame Negotiate sale Marketing effort Accept a contract Clear Contingencies Open Transaction Loan approval Close transaction Coordinate move Complete Inspections
- 25. • When a home is exposed to the marketplace, there are Six Factors that determine whether it will, or will not, sell. They are: “Critical Six” Factors: 1)Terms/financing 3) Home’s Location 5) Agent marketing 2) Home’s condition 4) Market conditions 6) Price • Working together, we can position your home as advantageously as possible with regard to these six factors.
- 26. Terms/Financing
- 27. • The monthly cost of homeownership is an important determining factor in a buyer’s decision making process. • Affordable monthly payments encourage a buyer to write an offer on your home, and to pay fair market value for the property. • I have knowledge of, and access to, the most affordable financing available for any buyer. • Plus, I team with a financial expert to find the best possible loan for each individual buyer. Factor #1: Financing
- 28. • A financial worksheet will be placed in your home for potential buyers. It provides the monthly cost of various down payment/ loan option combinations. • I sell monthly affordability. 1234 EASY ST. Price: $450,000 30 year fixed: ARM Down: $45,000 $90,000 $45,000 1 TD: $405,000 $360,000 $405,000 Payment: $2559.00 $2275.oo $1818.00 Taxes: $375.00 $375.00 $375.00 Insurance: $200.00 $200.00 $200.00 Total: $3134 $2850 $2393 Factor #1: Financing
- 29. Home’s Condition
- 30. • If a home has emotional appeal, it sells with the fewest possible inconveniences and for the highest net to the seller. • One of my goals is to assist you in making your home as emotional as possible. • Do you have any repairs/improvements that you think can/should be done to maximize your home’s appeal? Factor #2: Condition
- 31. • I provide you with a video and/or guide sheet entitled “Maximizing Your Home’s Appeal.” Factor #2: Condition
- 32. • Once we have determined I am your agent of choice, and after viewing the video, we will walk through your home. Our goal will be to view your home as a prospective buyer would view it. Factor #2: Condition Subtle changes enhance a home’s appeal!
- 33. • During the walk-through, I offer suggestions as to how you can make your home as emotionally appealing as possible. Factor #2: Condition No emotion Some emotion Very emotional More emotion = a higher net profit!
- 34. • I also give you a list of service-providers. These service-providers can help with any repairs and/or improvements you may wish to complete. Factor #2: Condition
- 35. Home’s Location
- 36. • A home’s location is a factor over which the homeowner and the marketing agent have no control. • Location is a critical consideration when pricing a home. • The most desirable locations create higher demand and, therefore, sell for higher prices. Locations with negative considerations sell for less. Factor #3: Location
- 37. • To price your home correctly, you must know the advantages, and the limitations, of its location. • From your experiences while owning this property, what would you consider to be the advantages and limitations of its location? • When we price your home, it is critical that I be forthright while discussing your home’s location. Thank you for understanding! Factor #3: Location
- 39. • The real estate market moves through cycles. These cycles are caused by supply and demand issues. • What have you heard about today’s real estate marketplace? Factor #4: Marketplace Supply Demand Home Values Supply Demand Low High High Low
- 40. • It is critical that your agent of choice knows how to attract the greatest number of potential buyers into your home, in all market conditions. = A higher net profit. Factor #4: Marketplace
- 41. • My view of the current marketplace is . . • I have the knowledge needed to adapt my “Profit Maximizing Marketing System” to today’s market environment. • My greatest responsibility is to implement a plan to attract as many potential buyers as possible into your home. Rest assured that I will be extremely aggressive in fulfilling this obligation. Factor #4: Marketplace
- 42. Agent Marketing
- 43. • Advertising campaign • Multiple Listing Service • Encouraging cooperating agents Factor #5: Marketing
- 44. • Worldwide Internet exposure • Just Listed / New Listing marketing • Direct neighborhood marketing Factor #5: Marketing
- 45. • Other direct marketing (IE: Move-up buyers) • Repeat and Referral sources of buyers • Incentives and convenience items Factor #5: Marketing
- 46. • Open Houses • Unique sources of potential buyers • Brochure marketing Factor #5: Marketing
- 47. • Showing follow-up • Communication • “Added value” marketing ideas Factor #5: Marketing
- 48. • Signs • Caravans • Company recognition Factor #5: Marketing
- 49. • A complete service team • A powerful referral network • Community recognition / image / reputation Factor #5: Marketing
- 50. • Weekly market analysis • Written guarantee Factor #5: Marketing
- 51. • What makes my “Profit Maximizing Marketing System” different? – It is aggressive and unique! – It accesses more than 100% of the buyer pool – It eases stress – I invest time and money – My company attracts millions of buyers – I have a structured, organized plan – My performance is GUARANTEED! Factor #5: Marketing
- 52. Pricing
- 53. • Homes priced correctly sell for the highest net and with the fewest inconveniences. • I provide you with the information and guidance you need to price your home correctly. Factor #6: Pricing
- 54. • What determines a property’s value? – Competing properties. – Available financing. – Your home’s condition & appeal. – General economic conditions. – What buyers have been willing to pay for like properties. – Supply & demand factors. – Location. Factor #6: Pricing
- 55. • What does not determine a property’s value? – What you need or want from the home. – An appraisal done by a bank or tax assessor. – What you heard was the selling price of your neighbor’s home. – Value of your home’s insurance. – What you have spent on the home. – The cost of the next home you want to buy. Factor #6: Pricing
- 56. • Warning signs that a home is not priced correctly or does not show well – Realtors are not previewing your home, or they preview and do not show it. It is being eliminated by price and/or condition. – Buyers are being shown your home with no results. Buyers are finding better properties to purchase. They are eliminating your home from consideration because it is not competitive in the marketplace. Factor #6: Pricing
- 57. • If you price your home competitively, at the beginning, you will most likely receive a greater net profit! • The longer a home is For Sale, the greater the difference between the asking & the selling price. On average. . . • On market 4 weeks or less = near or above full price • On market 4 to 12 weeks = 5% less than the initial asking price. • For Sale 13 to 24 weeks = 6.5% less than the original asking price. • Available 24 weeks or more = only 90% of original asking price. Factor #6: Pricing
- 58. 84% 86% 88% 90% 92% 94% 96% 98% 100% 4 weeks or less 4-12 weeks 13-24 weeks 24 weeks or more The longer a home is on the market, the more its value declines. = % of asking price Factor #6: Pricing
- 59. • The hazards of overpricing include: – Lowers agent & buyer response. – Minimizes profit. – Creates a reputation problem. – Increases risk of appraisal problems. – Lengthens marketing time. – Reduces net profits. – Causes frustration, false hopes and inconveniences. Factor #6: Pricing
- 60. • My responsibility is to help you price your home correctly. I do so by educating you as to what buyers have been willing to pay for like properties in today’s marketplace. • I provide you with all the information you need to price your home correctly. Factor #6: Pricing
- 61. • Because a home’s value is determined by the current market’s “supply and demand issues,” we must discuss: – Recent closed sales of comparable properties – Competing, currently available comparable properties – Comparable properties that were listed and failed to sell Factor #6: Pricing
- 62. When discussing comparables, we must consider: • The location and a detailed description of each subject home, including amenities. • The asking price of each competing property or the asking price and final selling price of each sold home, plus the date each sold property closed escrow. • How many days each comparable home has been or was on the market. Factor #6: Pricing
- 63. • A discussion of the pluses and minuses of each comparable property as they compare to your home. Value adjustments should be made for these positives and negatives. • The compensation that was or is being offered to cooperating agents. • And, for the properties that were on the market and failed to be purchased, a discussion regarding the reasons these houses did not sell. Factor #6: Pricing
- 64. • The last pricing consideration is whether the inventory of available homes is growing or shrinking? Is buyer activity increasing or decreasing? • After discussing all of the aforementioned information, with my guidance, you will determine the “asking price” for your home. Factor #6: Pricing
- 66. Additional Consideration: • Be careful to focus more on net profits than on expenses. Because a minimal-service broker doesn’t have the money to spend on marketing and/or the ability to offer fair compensation to cooperating brokers, he will not attract the number of needed buyers. A minimal-service broker, who may appear to save money for you, can cost you thousands of dollars in lost net profits.
- 67. Understandin g the brokerage system: Often the listing agent nets as little as 1% of the selling price. Additional Consideration:
- 68. • The four most expensive things in the world are: – A cheap accountant – A cheap attorney – A cheap brain surgeon – A cheap real estate agent • Remember it is a supply and demand issue. Your agent must create a maximum demand for your home. Additional Consideration:
- 69. In Summary:
- 70. • Because there is a direct correlation between the number of potential buyers who view your home and its final selling price, I implement a structured, well- organized plan to attract the maximum number of buyers into your home. In Summary:
- 71. In Summary: I access 100%+ of the available buyer pool.
- 72. • I communicate constantly during the marketing and closing process. • My marketing system is guaranteed in writing. • I take pride in my performance. I will do everything possible to exceed your expectations, and to maximize your profits while minimizing inconveniences. • I sincerely care about you! In Summary:
- 73. 1) Do you still feel the need to interview other agents? May I ask why? 2) I would be willing to cancel your other appointments. 3) You may forget what it is we discussed. Presentations will blend one into another. May I ask for a promise to allow me a brief second appointment prior to your final decision. . .
- 74. Do you have any questions?
- 75. I am excited about being your agent of choice. May I have the privilege of working for you?
- 76. 1) Continue building a database of all the people with whom you have worked in the past, a database of all the people in your sphere of influence, a database of appropriate local businesses (homeowner related) and databases of all the appropriate people in your targeted groups. Finish this process! 2) Personalize and master your listing presentation. Do a “demo” listing presentation to your office manager/broker. 3) Complete your Accountability/Progress report and submit the same.