Real Estate Agents - PDF by gabyion

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									 Real Estate Agents’


SURVIVAL
      KIT

                       1
It is easier to fail than succeed.
There are two main kinds of failure in
the real estate business . . . doing
things that “don’t” work and NOT
doing the things that “do” work.
Perhaps the most expensive failure
occurs when you fail to implement
workable ideas that you have learned
and are working for others.

One of the key concepts in growing
your business is to accept the fact
that as you venture forth you will
receive negative feedback. How you
handle the negative feedback,
objections, and setbacks, will
determine your level of success.

                                  2
98% of all success
 in real estate is
directly related to
  the number of
people you talk to
    or meet . . .
   EVERY DAY!


                  3
                   Choose Your Clients...
                   Choose Your Business!
T   he path to failure is trying to please everyone with whom you come in contact with daily. I
    believe that you were not put on this earth to help everyone buy and sell a home. You can’t
help everyone, and you don’t have to. Too many agents believe that they are forced to work
with anyone who shows up. By excluding people, you will create better and more loyal clients.

Many of the people we meet are unreasonable and should not be clients of anyone. They don’t
deserve the honor of any agent’s time and attention. Our job is to recognize their low
probability of ever becoming a quality client and to run away quickly. The feeling of walking
away from someone who would otherwise cause my staff and me great frustration was even
better than that of getting a new listing. The look on that person’s face was always priceless.
Most agents never experience the thrill of doing business on their own terms. Most agents
compromise their philosophy and beliefs for dollars. Below are four different categories of
people with whom you will find yourself working with regularly.

Terrific Clients: Most salespeople are just looking for the sale. A professional salesperson
is always on the lookout for terrific clients. Terrific clients respect people who are highly skilled
at their professions. They listen to advice and guidance that is presented. They open up about
their goals and desires for real estate, and their expectation for service. You will always know
where terrific clients stand; they don’t play “hide the ball.” You are not the enemy. You and the
terrific clients will be on the same team, working toward a common goal. They also will be
fantastic referral sources for your business.

No-clue: No-clue clients live in a dream world. It is difficult to get them to look at facts and
the figures that might upset the fantasy worlds in which they live. These clients really don’t
want to know the truth that their homes are worth 15% less than they think. Each one believes
that he or she will land the one buyer who will pay dramatically above fair market value. Unless
the no-clue client has extremely high motivation – job transfer, divorce, new children – you will
have no sale. If the bottom line is that they have to move, you may be able to bring them to
reality. In that case, the no-clue client could eventually make progress toward becoming the
terrific client.

Information Service: These people just want information and expertise from you. They
have no intention of creating a relationship of trust; you are there only to provide your
knowledge. The information-only client truly believes that this approach is justified. He or she
also believes that if you are foolish enough to give your knowledge for free, then that’s your

                                                                                           4
problem. These clients will take your knowledge, then either use it to buy or sell on their own,
or give it to a friend or family member who doesn’t have your skill level and put the business
into that person’s hands.

Information-only clients will rarely answer direct questions. They are evasive. They will
challenge your knowledge, beliefs, advice, fees and services; these challenges will usually
become their justification for not working with you. Sometimes they get offended at your
questions. Their belief is that the expertise that they can get out of you is useful, but their way is
better.

Distrusts everyone: These clients believe that everyone is out to get them. They believe
everyone is trying to reach into their back pockets. They believe that every question you ask
comes with its own hidden agenda, that what you are really looking for is the weak point that
will allow you to destroy them even when, with a lot of care and attention, you manage to win
these people over and make them your clients, if you or your team make at least one honest
error, these clients will be gone. They believe that whatever negative experiences happen to
them are all part of the big conspiracy against them.

Selecting and excluding people at the outset is the best way to ensure good client relations.
Many problems with clients are caused, not by external events or by deficiencies in our
interpersonal skills, but by the perceptions and expectations of clients themselves. Some people
just don’t make good clients. Create a strong interview process, so that you can quickly and
efficiently remove the problem prospects before they get inside your inner circle. The price you
pay for letting them inside is wasted time, wasted energy, emotional drain for you and for your
staff, and certainly loss of revenue. Focus on working only with terrific clients. You’ll be
amazed at the increased income and job satisfaction you will enjoy.




                                                                                            5
                      Questions for Ad Calls
► Name – I’m Bill, and you are?

► What caught your attention about the ad?

► Is this the price range you’re looking in?

► What can I tell you about the house? Is a three bedroom large enough for you?

► Are you looking in that area specifically?

                          ► Are you currently working with a real estate agent?
                          ► If the financing attracted you, there is a special program
                            available with low down payment, as well as a low monthly
                            payment.

                          ► There are a few others in the area with the same financing
                            available, would you like to see them?

► Would you like to take a look at the property that you called on?

► Have you spoken to a lender about the benefits of being pre-approved?

► When can we get together at my office and look at pictures of properties in the area and
  get pre-qualified.

► Give me some more information about what you are looking for and I’ll have some
  properties for you to look at at my office to be sure we’re on the right track.

► If they just want to meet at the property, have them at least talk to your lender first. -
  sellers requested to show to only qualified buyers.

► Get their phone number. How? Ask for it..

► If they just want the address so they can drive by and see the outside and the area, try and
  get them to meet you there - they may as well look at the inside at the same time.




                                                                                        6
                        Home Purchase Basics

C
       ongratulations on your decision to buy a home! There are many important things to consider throughout
       the process, especially if you’re a first-time homebuyer. Here’s some information that will keep you on
       track.


In general...
A home purchase may be your largest financial transaction to date, so it’s important to make the right decisions
and to keep an eye on the details. With the assistance of your Real Estate Agent and Loan Officer, it should be
an efficient, pleasant, and ultimately rewarding experience.


Count on your Real Estate Agent to:
1. Preview available homes to weed out those that are overpriced, or undesirable in some other way.
2. Present the homes that suit your needs as you’ve defined them.
3. Help you determine the difference between a “good buy” and a property which, because of its nature
   (neighborhood, market appeal, etc.), might have to be discounted if you decide to sell in the future.
4. Negotiate the best deal for you. With a Pre-Approval letter in hand, your Real Estate Agent will be able to
   demonstrate that you are a qualified and capable borrower. This will strongly influence the Seller, and may
   make the difference between the Seller accepting your offer or someone else’s – even if your offer is lower!


Count on your Loan Officer to:
1. Assist you in selecting the best loan to meet your personal situation and goals. (This single decision can
   save you thousands of dollars throughout the years!)
2. Keep you informed of your loan status throughout the entire process.
3. Keep your Real Estate Agent informed of our loan progress. (Note: Your personal information is always
   kept confidential.)
4. Get the appropriate loan for you at the best rates and fees. This will save you significant money “up front”
   and throughout the years to come.


Count on yourself to:
1. Keep your Real Estate Agent informed of any questions or concerns as they develop.
2. Keep the process moving by providing documentation and decisions as soon as reasonably possible. By
   doing so, many of the details are taken care of early in the process so you can comfortably concentrate on
   any last minute details or events that require your attention.
3. Enjoy purchasing your home, but do remain objective throughout – to make the business decisions that are
   best for you.
4. Make sure you are pre-approved as early as possible. This will put the power of financing behind you so you
   can concentrate on selecting your home.


                                        Happy House Hunting!


                                                                                                      7
     Benefits to Getting
        Pre-Approved
     For Home Purchase
 1. Not being disappointed

 2. Anticipating obstacles.

 3. Reviewing personal credit history – errors, etc.

 4. Being prepared to act on perfect home

 5. Time management tool.

 6. Communicates to seller that you are serious.

 7. Communicates to Realtor that you are serious.

 8. Helps to budget for new payment.

 9. Peace of mind.

10. Leverage – Cash buyer.




                                                       8
           Superstar Showing Techniques

T     he objective here is to show you the techniques necessary to get the buyer emotionally
      involved quickly. Also to help you understand the value of thinking like a salesperson
      and not like a real estate person.

A. In showing the property to a buyer, make it easy for the buyer to
   buy from you.

B. The Showing Checklist:
    1. Always call first before showing a home.
    2. Always call back the ones you don’t show.
    3. Show your listings first.
    4. Ask questions while inside the car.
    5. If they have the motivation to buy, don’t quit showing them until they do.
    6. Select a good route to the home.
    7. Don’t oversell the house prior to showing.
    8. Watch for buying signals
    9. Park across the streets from the house.
   10. “Let’s look at the house as if it were vacant.”
   11. “Let’s make ourselves at home, I’m here just to answer your questions.”
   12. Keep them together inside the house.
   13. Get them emotionally involved in the house.
   14. Try to be enthusiastic.
   15. Show three homes at a time.
   16. Let the customer take notes while showing the property.
   17. Take one car even if it’s theirs.
   18. Don’t make unnecessary statements. Ask questions.
C. There are five reasons why we must learn to ask questions.
   1. Questions get the customer involved emotionally.
   2. Questions keep us on a track.
   3. Questions keep you in control.
   4. Questions get the customer involved mentally.
   5. Questions get the customer involved verbally.
D. The Superstar learns to ask questions by “answering the
   questions, then asking similar questions in return.”

                                                                                      9
                                         REVIEW
1.   Always make it easy for the customer to buy from you!
2.   Be as enthusiastic as possible.
3.   Talk less and watch them carefully. You’ll see the buying signals.
4.   Always ask questions.
5.   Less telling and more selling.




                                                                          10
                     Overcome Buyer’s
                      “Sticker Shock”

D    o you have buyers who are bewildered by the high price of
     housing? If so, they will constantly complain and raise price
objections to the homes you are showing to them.

Here’s a simple way to gently raise their expectations of market
value. Play the game “The Price is Right” with them. This consists
of driving by recently SOLD properties and having them guess the
prices.

You explain this to the buyers as follows; “Mr. and Mrs. Buyer, as
your agent, the most important service I can offer is to help you
learn the market. I have a fun way of doing this. Remember the
game show ‘The Price is Right?’ Well, I’m going to drive by
recently sold properties and have you two guess the sale price.
Then I’ll tell you the actual sale price. Are you up for that? If you
don’t do this, then they’ll be getting mad at the homes you want them to buy.

The first exchange may sound something like this:

Agent:  “...with 4 bedrooms, 3 baths and 2,500 sq. ft. It closed last Thursday.
        What do you think it sold for?
Buyers: “I’d say around $250,000.”
Agent: “Is that your final answer?” (Have some fun with this!)
Buyers: “Yes.”
Agent: “Well, this sold for $550,000.” (That’s how it will sound to them.)
Buyers: “Wow, I guess we’re not in (previous home city) anymore!”

Keep playing the game until they start guessing right, then show them your list of homes. In
fact, continue having them guess the prices of THOSE homes. Save the feature sheet and
information until AFTER the showing.




                                                                                      11
              Successfully Presenting Offers
                                         OBJECTIVES
The objective here is to assist you in completing the sale by making a professional canned presentation
to the seller when possible, thus providing both the buyer and seller with the best service possible.

A. There are three reasons why more sales are lost here than any
   other part of the sale:
     1. Most salespeople are not prepared in their presentation.
     2. Most salespeople are not prepared to handle the seller’s objection.
     3. Most salespeople do not understand that selling a home is as emotional for the seller
        as buying is for the buyer.

B. There are five things you can do to get a higher percentage of your
   offers accepted:
     1.   Work as hard as possible to get as close to full price as possible.
     2.   Get as much credit information as possible on the buyer, including pre-approval.
     3.   Get the largest deposit possible.
     4.   Work hard to get the other agent’s cooperation, sell them on your offer.
     5.   Try to discover the seller’s motivation prior to writing.

C. Who should present your offer?
     1. If the other agent will not meet you in advance, you should be present.
     2. If the other agent meets you in advance and becomes negative, you present.
     3. If the other agent meets you in advance and you feel they can do a better job, let
        them present your offer.

D. The five step presentation of the offer:
     1.   Determine the seller’s motivation.
     2.   Discuss the qualifications of your buyer.
     3.   Discuss the deposit.
     4.   Review the benefits of your offer.
     5.   Ask for the signature.

REVIEW
     1.   Be sure to make a strong organized presentation.
     2.   Work hard to get the other agent’s cooperation.
     3.   Remember, the seller is always as emotional as the buyer.
     4.   Talk less & watch them carefully. You’ll see the buying signals, if presenting in person.
     5.   Always ask questions.


                                                                                                12
                Daily Fast Track
                   Activities

□   Cold calling – Renter List
□   Door hangers - Listed/Sold Core market area
□   Visit FSBO’s – Leave info, then call
□   Open Houses – 4 minimum per month, or more
□   Join networking group i.e.: Toastmasters
□   Run an ad with a loan officer
□   Run a FSBO ad
□   Call or mail to expired listings
□   10 business cards distributed per day
□   5 thank you’s or personal notes sent per day
□   Why Rent door hangers


                                                   13
                 THE REAL ESTATE GAME
                           Daily Scoreboard of
                       Income Producing Activities
DAILY ACTIVITY                           POINTS   MON   TUE   WED   THU   FRI   SAT   SUN

Show up in the office                      1
Call 3 past clients                        2
Call 3 from SOI (Sphere of Influence)      2

Hold an Open House                         2

Voice broadcast 50 or more                 2
Attend networking meeting                  1
Take a listing                             4
Write a new contract                       5
Visit a FSBO                               3
Call a FSBO                                1
Get a FSBO                                 2
Call 5 expired listings                    3
Meet with an outside lender                2
Meet with Power Team                       2
25 door hangers – Just Listed              2
25 door hangers – Just Sold                2
Send 5 thank you’s or personal notes       1
Create a joint marketing activity with
                                           2
a referral source
TOTAL POINTS


                          DAILY GOAL – SCORE 10 POINTS

                                                                                  14
             Open House Strategy

Invitations to neighbors – 20 on each side.

Be sure owners are away, and any animals.

Don’t park in driveway – arrive early.

Open House signs placed for easy visibility.

Balloons on Open House signs.

Be sure there are information flyers at the house – point out any special
amenities.

Place Guest Register near door and ask visitors to sign in.

Prepare home i.e.: turn lights on, soft music playing, cookies baking
(optional).

Have client information sheets on nearby properties.

Ask for feedback from visitors – engage in conversation.

“Please Remove Shoes” sign or booties available.

 If other agents come by, get business card and feedback.




                                                                    15
         10 Characteristics of
   Top Producing Real Estate Agents
 1. Team oriented.

 2. Reciprocate with other out-of-
    area brokers.

 3. Maintain 100% client control.

 4. Their approach is to build “clients for life.”

 5. Operate their business from a business plan
    and goals.

 6. Well organized, never compromise
    prospecting.

 7. Bottom line – straight shooters.

 8. Don’t like interruptions – appointments.

 9. Career vs. job – they work after 5:00.

10. Loyal to their team.
                                                     16
        10 Characteristics of
  Non-Producing Real Estate Agents

 1. Always in the office – loves floor time.

 2. Always getting ready – preparing, attending
    every seminar.

 3. Have no control over their client.

 4. Monitor pending transactions.

 5. Want a free lunch.

 6. Abuses customer service.

 7. Complains constantly.

 8. Thinks of real estate as a job – 9:00 to 5:00.

 9. Loves the computer.

10. All talk and no action.


                                                     17
           What it Takes to Generate
           4 Transactions Per Month
                 in Real Estate
 1. Prospecting – every day
 2. Weekly classified ads
 3. Minimum of 1 Open House per week
 4. Using “Just Listed” door hangers or mailers on all listings
 5. Using “Just Sold” door hangers on all sales
 6. Monthly contact to 2 farm areas by mail, voice mail, or personal
    contact
 7. Calling ‘For Sale By Owners’ everyday
 8. 1 hour per day using telephone to generate leads
 9. Meeting with Loan Officer 2 times per week
10. Meet at least 5 new people per day that can help you reach your goals
    – network!
11. Send a minimum of 5 thank you notes per day
12. Stay in touch with past clients – ask for referrals
13. Time for self and family everyday
14. Regular exercise
15. Daily positive input from reading books or listening to tapes.

          Are you doing what it takes …every day?
                                                                     18
           Buyer Have / Wants Checklist

Name _____________________________________________________ Date _____________


A. NEED:
There are things that our property must have! In fact, if it doesn’t have these things, we won’t buy.
1. ___________________________________                 6. ___________________________________
2. ___________________________________                 7. ___________________________________
3. ___________________________________                 8. ___________________________________
4. ___________________________________                 9. ___________________________________
`
5. ___________________________________ 10. ___________________________________

B. WANT:
It sure would be nice to have these things in our new property, but I can live without them.
1. ___________________________________                 6. ___________________________________
2. ___________________________________                 7. ___________________________________
3. ___________________________________                 8. ___________________________________
4. ___________________________________                 9. ___________________________________
`
5. ___________________________________ 10. ___________________________________

C. WISH:
I wish these features were possible, and if you could get these things, I would be amazed.
1. ___________________________________                 6. ___________________________________
2. ___________________________________                 7. ___________________________________
3. ___________________________________                 8. ___________________________________
4. ___________________________________                 9. ___________________________________
`
5. ___________________________________ 10. ___________________________________


                                                                                               19
          Buyer Assistance Questionnaire
Date ___________________ Phone ________________________________ Wk Phone ___________________________________
Names: _____________________________________________________________________________________________________
Address: ____________________________________________________________________________________________________
 1.   How long have you been looking? ___________________________________________________________________________
 2.   Are you working with another agent/broker? __________________________________________________________________
 3.   How many are in your family? _____________________________________________________________________________
 4.   Do you own or are you renting? ____________________________________________________________________________
 5.   Must you sell before buying (or complete the lease period before buying)? __________________________________________
      If yes, how long? ________________________________________________________________________________________
 6.   Have you seen any homes/investment properties that you really liked? ______________________________________________
      If yes, why didn’t you buy it? ______________________________________________________________________________
 7.   How soon do you need to move? ____________________________________________________________________________
 8.   If we can find the right property, are you prepared to make a decision at this time? ____________________________________
      _______________________________________________________________________________________________________
 9.   What price range have you been considering? __________________________________________________________________
10.   How much cash do you want to use for the purchase? ___________________________________________________________
11.   Do you have a budget for monthly payments? _________________________________________________________________
12.   How many bedrooms? ________________ Square footage? _________________
13.   Is there any one else who will be helping you make the decision about buying? _______________________________________
14.   What special requirements do you need in your new property? ____________________________________________________
      ______________________________________________________________________________________________________
15.   Where are you employed? ________________________________________________________________________________
16.   Where is your spouse employed? ___________________________________________________________________________
17.   If I gave 100% of my time, will you buy your new property from me? ______________________________________________
18.   What times are best for you to look? _________________________________________________________________________
19.   When is it best to call you so that you can go over details of your purchase? _________________________________________
      What is the best time to call? _______________________________________________________________________________


SUMMARY
Price Range: _________________ to _________________           Down Payment: _______________ to ________________
Bedrooms/Baths: _________________________________             Square Footage: __________________________________
Locations: ___________________________________________________________________________________________________
Comments: __________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________



                                                                                                                  20
Key Questions to Ask When Trying to
  Reveal URGENCY and LOYALTY
                  From your Buyer

                                        URGENCY
                                           ▲ How soon would you like to move?
                                           ▲ Why is that time important to you?
▲ Are you prepared to move sooner if we find the right home, with the right financing?
▲ If we found the right home today, what would you do?
▲ Why did you decide to move now?
▲ What will the move accomplish for you?
▲ What issues need to be resolved before you purchase?
▲ How long have you been looking?
▲ How many homes have you seen?
▲ How many homes do you think you should see before you purchase?



LOYALTY
▲ I would like to commit to helping you find your perfect home and
    situation. I ask only one thing in return, that you work with me
    exclusively. How do you feel about that arrangement?
▲ Are you currently working with another agent?
▲ Are you under contract with another agent?



                                                                                  21
       Partnership Marketing Proposal
            (Loan Officer to Real Estate Agent)

Prepared by: ______________________
For: _________________________

Thank you for taking the time to meet with me on ______________________.
After reflecting on our conversation, I have put together the following marketing
plan for your review.

I hope you understand that my commitment is long term and that I am willing to do
what it takes to earn your business. A relationship based on mutual respect, and an
agreement to work together in securing more and better clients is what I’m
suggesting.

Purpose:

The team marketing and co-prospecting aspect of this action plan is designed to
create qualified and motivated buyers and sellers that will ultimately increase
business for you and I.

The success of this program is based on proven, proactive, marketing and
prospecting techniques and a commitment to work as a partnership in lead
generating, net profit producing activity that will help both of us meet and exceed
our financial goals.

I suggest our relationship is based on more than rate sheets, loan programs, and
good service. You’ll find that these are a given with ABC Mortgage and myself.




                                                                            22
     10 Smartest Decisions a Realtor Can Make
1.    SET CRYSTAL CLEAR GOALS
        To get what you want you must know what you want
        Long term vs. what to do today

2.    PERFECT YOUR PEOPLE SKILLS
        Build rapport
        More important than sales skills
        Openings more critical than closings
        Listen – ask people what they want and then give it to them

3.    USE YOUR STRENGTHS
        Spend 80% of your time utilizing your strong suits

4.    BE CONSISTENT
        Never stop prospecting
        Show up more than your competition

5.    MEET MORE PEOPLE
        Network daily

6.    SPEND YOUR TIME WITH MOTIVATED CLIENTS
        Establish control
        Reveal urgency early – “when”
        Create reality between what the client wants and what they can get
        Burn-out = working with unmotivated people

7.    FOLLOW UP
        Be pro-active
        #1 reason for losing clients is lack of follow up
        Persistence

8.    MAKE GREAT PRESENTATIONS
        Passion sells
        Be prepared
        Confidence and enthusiasm are more important than experience
        Give people a reason for choosing you, be memorable

9.    WORK ON HIGH PRIORITIES
        Money making activities
        Return on investment
        Winning is inconvenient

10. KEEP IT FUN
        Perspective



                                                                             23
                “Fast Track” Action Plan
           A 30 DAY COMMITMENT PROGRAM
                   FOR MY SUCCESS
Name: ____________________________________                    Date: ______________________

   Total number of hours invested for my success year 200__.

   I will work 5 days per week plus 1 day each weekend.

   I will send 100 thank you cards or notes of recognition to potential
   clients.

   I will have 5 appointments per week with new For Sale By Owners.

   I will visit 10 For Sale By Owners open houses.

   I will conduct 5 open houses.

   I will contact 4 insurance agents regarding my Power Team.

   I will attend 1 networking meeting per week.

   I will send a business card to everyone I know announcing my career in real estate.

   I will distribute 25 or more ‘move up buyer’ door hangers per week.

   I will create my personal marketing farm area.

   I will ask for referrals every day!

   I will stay positive and enthusiastic every day. I am committed to my success and take full responsibility
   for my actions and results. I am “on track”.


                Signed: ________________________________________________________




                                                                                                     24
  Getting More Listings in Less Time!

                                  OBJECTIVE


T   he objective here is to help you in three ways: First, to help you to develop a
    usable time management philosophy; second, to identify each activity you
should be involved in; third, to show you a system to maximize your time.

A. Key thought – Time management is the biggest problem facing
   salespeople TODAY!

B. The Superstar guidelines to good time management –
  1.   Keep a daily record of your time for the next two weeks hour by hour.
  2.   Concentrate on priorities, procrastinate on low value activities.
  3.   Consolidate your activities into blocks of time.
  4.   Delegate less important task to others.
  5.   Set a specific daily plan and follow it!
  6.   Identify critical areas of time loss.
  7.   Plan your time in relationship to your goals.
  8.   Take corrective action on numbers one through seven.

C. The fifteen activities of the Superstars –
  1.   Company sales meeting
  2.   Caravan tours
  3.   Real estate board meetings
  4.   Floor time
  5.   Calling buyers for showing appointments
  6.   Follow-up on transactions in process
  7.   Follow-up on your listings
  8.   Days off
  9.   Lunch


                                                                             25
 10.   Office time
 11.   Previewing other brokers’ listings
 12.   Education time
 13.   Physical improvement time
 14.   Planning time
 15.   Prospecting

REVIEW

1. Concentrate more on productive activities, income producing.
2. Delegate as much as possible to allow yourself more time to produce.
3. Set a strict daily plan and follow it.
4. Develop a planning system that is easy to use.

                                    Remember:
                   SUPERSTARS ALWAYS APPLY THE IDEAS
                        THAT THEY HAVE LEARNED!




                                                                          26

								
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