WITH LINDA MCKISSACK - · THE TEN STEPS TO MASTERING A LISTING PRESENTATION 1. Read “Read this...

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10+ Listings A Month Forever WITH

LINDA MCKISSACK “Training Top Real Estate Professionals”

Build a business worth owning that funds a life worth living…A Truly Perfect Life! 1

10+ Listings A Month Forever

WHY ARE YOU HERE?

Q: On a scale from one to ten, with ten being terrific and one being not so great, what ONE thing has to happen in this session for you to feel it was a ten?

A:__________________________________________________________________________________________________

Q: If you could take two things from this session, what ONE other thing could you learn that would make the session a 10+?

A:__________________________________________________________________________________________________

Q: If you could learn one more thing in this session, thus making this session a 10++ for you, what would it be?

A:__________________________________________________________________________________________________

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Sources of Listings and Prospecting

Every business is a lead generation business first!

The Two M’s of Lead Generation:

1.) Message

2.) Method(s)

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1.) PROSPECTING 2.) Marketing

Generating leads through your actions and words, in person or on the phone, talking directly to people.

Receiving leads from ads, websites, signs, mailing campaigns, or other advertising sources.

“Great agents do both prospecting and marketing well. They cover both bases.” -Gary Keller

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2.) Method(s)

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1.) PROSPECTING 2.) Marketing

1. FSBO 2. Expireds 3. Door Knock 4. Cold Call 5. Seminars

1. “Sold” Post Cards 2. Internet Stealth Sites

(whatismyhomeworthnow.com) 3. Newspaper 4. Farming 5. Build a Brand

All Lead Generation is done with a Listing focus!



You have to list to last!

The Two M’s of Lead Generation:

1.) Message

2.) Method(s)

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Question: How’s the market in Encinitas, California

Answer: “Business is great! Says top agent Chris Heller. In fact, he’s changed his marketing message to: “Slow market? Someone forgot to tell Chris Heller.”

The language of sales needs to be strong and to the point many agents made the mistake during other markets of not using aggressive enough language. But now is no time to “beat around the bush” with your message. Whatever you say needs to be spoken with both assertiveness and conviction, no matter what the market.



2.) Message

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1.) Match Your Market 2.) Make an Offer

Offers can be either direct or indirect. The important thing is that they generate a response!

Your message must match the market and attract prospective buyers and sellers. For effective messaging, answer the following questions in your mind.

•Why Would buyers/sellers want to contact me in this market? •What would they get if they did?

Your message must communicate benefits that buyers and sellers immediately recognize. You do this using two principles:

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WHAT

YOU

PAID

WHAT

YOU

NEED

WHAT

YOU

WANT

WHAT

YOUR

NEIGHBOR

SAYS

WHAT

ANOTHER

ASSOCIATE

SAYS

COST

TO

REBUILD

TODAY

Buyers Always Determine Value!

The value of your property is determined by what a BUYER is

willing to pay in today’s market based on comparing your

property to others SOLD in your area.

COMMON PRICING ERRORS


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AFTER THIS PRESENTATION YOU SHOULD:

1. Know and understand why you want to be a listing agent.

2. Understand the 10 steps to mastering a listing presentation.

3. Know the 15 steps to getting a listing.

4. Have a BASIC pre-listing package. 5. Be familiar with high-level,

consultative listing dialogue. 6. Know the difference between real

estate agents and real estate consultants as they relate to listings.

7. Know why “relationship-based” selling is the key to your long-term success as a listing agent.

8. Know how to handle common listing objections.

9. Know how a seller wins/loses with you & what a seller has the right to expect from you as a real estate consultant.

10. Understand why you need a marketing and promotion plan and where to insert it in the listing presentation.

11. Have a listing presentation that you can become comfortable and confident with.

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LET’S GET DOLLAR PRODUCTIVE!

• TRUTH: These are the four most “dollar productive” activities for a real estate agent. 1. Prospecting

2. Presenting

3. Negotiating

4. Selling

So, Which Is Most Important?

PRESENTING!!!!!

Why? 9

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WHY DO YOU WANT TO BE A LISTING AGENT?

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THE TEN STEPS TO MASTERING A LISTING PRESENTATION

1. Read “Read this listing presentation and let’s talk.” 2. Lecture “Let me explain the listing presentation to you.” 3. Discuss “Let’s talk about the listing presentation.” 4. Participate “Let’s talk about the listing presentation script and get

others involved.” 5. Case Study “Let’s see how others do listing presentations.” 6. Role Model “Let me show you how to do a listing presentation.” 7. Role Play “You try the listing presentation with me working with

you.” 8. Experience “You do a listing presentation while I’m with you.” 9. Practice “Rehearse your listing presentation and use it in in the

field.” 10. Teach “Teach your listing presentation to others.”

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THE IMPORTANCE OF MASTERY

TRUTH: The most important thing you can do for your career in real estate is to MASTER a listing presentation! WHAT’S YOUR GOAL? Example: Goal: $5,000,000 Transactions: 50 (Avg. Sales Price of $100,000) Presentations: 150 Average 1 out of 3 100 Good 1 out of 2 50 Master 1 out of 1

Any AHA’s?

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HERE’S ANOTHER WAY TO LOOK AT IT!

Assuming 3 Presentations per Week (50 week year): Average Listing Presentation Skills: 150 presentations/3 = 50 listings x $100,000 = $5,000,000 x 3 % $ 150,000 Mastered Listing Presentation Skills: 150 presentations/1 = 150 listings x $100,000 = $15,000,000 x 3% $ 450,000

DIFFERENCE = $300,000!!!!!

So, Does Mastery Pay? 13


15 STEPS TO GETTING A LISTING?

1. Find a Seller (Attend “Prospecting Your Way To Success I”)

2. Pre-Listing phone conversation 3. Hand Deliver Pre-Listing package 4. Confirm appointment 5. Get on “Listing Channel” 6. Tour inside of home 7. Begin the conversation 8. Explain the difference between agents

and consultants

9. Uncover the seller’s needs 10. Prioritize the seller’s needs 11. Check for commitment 12. Satisfy the seller’s needs 13. Negotiate and resolve issues 14. Cover Win/Lose & Mutual

Expectations 15. Gain agreement (Win-Win)

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STEP 2 PRE-LISTING PHONE SCRIPT

Potential Client: “Can you please come out and talk to us about

listing our home?” Suggested Response: “It would be my pleasure to visit with you about your needs in the sale of your home and before we set an appointment may I ask you a few questions?”

GO TO PRE-LISTING QUESTIONNAIRE

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Date: Taken By:

1. Name:

2. Address:

3. Mailing Address:

4. Are You The Sole Owner Of The Home? Yes No

5. Home Phone: Work Phone:

6. Home Fax: Work Fax:

7. Why Are You Selling?

8. Type Of House?

9. Square Feet? Bedrooms?

10. Bathrooms? Garage?

11. Condition? Excellent Good Fair Poor

12. How Long Have You Owned Your Home?

13. What Sold You On Your Home?

14. Have You Done Any Updating On The Home?

15. What Do You Owe On The Home?

16. What Made You Call Me?

17. What Three Things You’re Looking For In A Realtor?

18. Will You Be Interviewing Other Realtors?

19. Set Appointment: Date: Time:

PRE-LISTING QUESTIONNAIRE

LISTING YOUR WAY TO SUCCESS

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STEP 3 DELIVER PRE-LISTING PACKAGE Either hand deliver the pre-listing

package or have it sent via delivery service! We strongly recommend you have the pre-listing package delivered for the following reasons:

1. It sets you apart from your

competition. 2. It leverages your time. 3. It addresses common listing

objections. 4. It makes you appear extremely

professional.

If you can’t have it delivered by a delivery service, then hand- deliver it yourself and say,

“Here is some information I thought would be very useful to you prior to our meeting. Notice there is a homework section in the back and it would be extremely helpful if you could complete that section before our next meeting!”

“Do you have children?” (If yes) “What are their ages?” (If 12 and

under) “Would you mind if I brought a video to

keep them occupied while we visit?” (If no) “Great, what is a movie they have never

seen?”

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DO YOU WANT TO BE THE FIRST IN OR THE LAST IN?

If the potential client is interviewing other Realtors, you want to be the first one!

WHY? By being first you can either: 1. Eliminate Competition! OR 2. Set The Benchmark Which Others Must Measure Up To!

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10+ Listings A Month Forever STEP 4 CONFIRMING THE APPOINTMENT

If you had the pre-listing package delivered by someone other than yourself, or if you mailed it, then have the

following phone conversation to confirm the appointment: • “Mr./Mrs. Seller this is (your name) with XYZ Realty, did I catch you at a bad time?

Great! (or) I’m sorry, I’ll just take a minute. • Listen, the reason for my call is twofold: • First, did you receive the package I had delivered to you today? Great! Did you have an opportunity to complete the homework section? Super! (or) It would be great if you could complete it before I come, but , if you

can’t, I understand. • Second, I just wanted to make sure both you and (Spouse’s name) will be there

tonight at (time). Great! Do you have children? (If yes) What are their ages? (If 12 and under) Would you mind if I brought a video to keep them occupied while we visit? (If No) Great, what is a movie they’ve never seen? • I really appreciate your time and I look forward to visiting with you tonight at (time).”

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10+ Listings A Month Forever STEP 4 CONFIRMING THE APPOINTMENT If you hand-delivered the pre-listing package yourself, then

have the following phone conversation to confirm the appointment:

“Mr./Mrs. Seller this is (your name) with XYZ Realty, did I catch you at a bad time? Great! (or) I’m sorry, I’ll just take a minute.

I was just calling to confirm our appointment and the make sure both

you and (Spouse) will be there tonight at (time). Did you have an opportunity to complete the homework section? I really appreciate your time and I look forward to visiting with the

both of you!”

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STEP 5 GET ON THE LISTING CHANNEL The Night Of The Appointment: Before you enter the home, make sure you are in the correct mindset! In order to get on the correct channel: • Focus on desired outcome • Rehearse your presentation • Focus on them and their needs • Allow no distractions (turn off phone and pager) TRUTH: It will do you no good to get the “at-bat” if you can’t knock it out of the park!!

To function at the highest level, you must get ON-PURPOSE with your listing presentation!!

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STEP 6 TOURING THE HOME Once you enter the home, follow these simple rules of courtesy: 1. Never enter the home until you have been asked to enter. 2. Go straight to the kitchen to put your things down. “Where should I put these materials?” 3. Ask the seller to give you a tour of the home. “Mr./Mrs. Seller, before we get started, why don’t you pretend I’m a buyer and show me around your home; pointing out what YOU feel are the selling features of the home.” 4. Build rapport (FORD) as you tour the home. In other words, talk about their Family, Occupation,

Recreation, & Dreams. 5. Go back to kitchen and ask to be seated. “In which chair would you like me to sit?” 6. Never move anything on the table unless you ask to move it. “ Do you mind if I move this out of the way?”

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STEP 7 BEGINNING THE CONVERSATION

Once you are situated at the kitchen table, take control and be confident!!! You are the professional!!! “Mr./Mrs. Seller, at the end of tonight one of three things will happen: • First, you may list your home with me and that would be great! • Second, you may not list your home with me and to be honest, that wouldn’t be so great! • Or third, I may be unable to take your listing.

Would that be a fair assessment? Does that sound right to you?”

TRUTH: This conversation is VITAL to your validity as a

professional! 23

10+ Listings A Month Forever AFTER BEGINNING THE CONVERSATION,

TWO THINGS CAN HAPPEN

(1) They ask, “Why would you be unable to take my listing?”

“That’s a great question and I really appreciate you asking! You see Mr. Seller, I’m a consultant and I run a business and I’m not JUST in the business of listing houses, I’m in the business of satisfying needs (exceeding expectations).”

“As we visit here tonight, we may come

across a need (expectation) you have that I feel I cannot satisfy (exceed). And if we reach that point, I may be unable to take your listing.”

“Would that be fair? Great!”

(2) They don’t ask: “Now that may sound strange to you so

let me explain. You see Mr. Seller, I’m a consultant and I run a business and I’m not just in the business of listing houses, I’m in the business of satisfying needs (exceeding expectations).”

“As we visit here tonight, we may come

across a need (expectation) you have that I feel I cannot satisfy (exceed). And if we reach that point, I may be unable to take your listing.”

“Does that make sense?”

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10+ Listings A Month Forever STEP 8 EXPLAINING THE DIFFERNECE BETWEEN

AGENTS AND CONSULTANTS

“I want you to understand that there is a definite difference between an agent and a real estate consultant!”

“The real estate industry today looks

something like this: CONSULTANT 5 % of industry Asks Listens Consults Win-Win AGENT 95% of industry Assumes Tells Sells Win-Lose

“Since 95% of the industry are just agents, chances are you’re going to come in contact with or have come in contact with an agent!”

“How do you know?” “An agent will come in and assume he knows

what it is you are needing in the sale of your home without even asking you. He will assume you need the most amount of money in the shortest amount of time with the fewest hassles; and then will start TELLING you how he and his company’s image can satisfy those assumed needs!”

“You see, with an agent there is a lot of

assuming and telling going on!” (Continued on next page.)

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10+ Listings A Month Forever “Now compare or contrast that with a real estate consultant who will not assume anything!” A consultant will ASK you questions and listen to what it is YOU are needing in the sale of your home and then when he hears what your needs are will make a determination on whether a win-win relationship can be created!” “Does that make sense?” “Great, with that in mind, let’s talk about what it is you’re needing in this transaction!” “On a scale from one to ten…” (Continued on page 28) TRUTH: The only way you can build a relationship is to become a real estate consultant! Remember, people don’t care how much you know until they know how much you care!!!

So, what is the difference between a real estate agent and a real estate consultant?

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STEP 9 THE 3 STEPS OF UNCOVERING THE SELLER’S NEEDS STEP 1 “On a scale from 1 – 10 with 10 being very desirable and 1 being not desirable at all,

what ONE THING could happen to make the sale of your home a 10 for you? (answer given)

“What is important to you about (above answer) ?” “What is important to you about (above answer) ?” STEP 2 “What one thing could we add to make the sale a 10+ for you?” (answer given) “What is important to you about (above answer) ?” “What is important to you about (above answer) ?” Step 3 “If we could add just one other thing thus making this sale a 10++ for you, what would

it be?” (answer given) “What is important to you about (above answer) ?” “What is important to you about (above answer) ?”

GOAL: Your Goal is to get the sellers focused and to find their most valued criteria 28


STEP 10 PRIORITIZING THE SELLER’S NEEDS

After you uncover the sellers’ needs, you now must prioritize those needs!

WHY? To Find Their Most Valued Criteria

Here’s How: “Mr./Mrs. Seller, if you could have only one thing on this paper, thus by having that one thing,

the others wouldn’t seem as important or would just fall into place, which would it be?” “So, if you got (a good price), and didn’t get (the home sold quickly) and (you were disappointed

with the communication process), you would be OK with that?” “Great, what’s the second most important thing on this paper?” “So, if you (got the home sold quickly) and (you were disappointed with the communication

process), you would be OK with that?” “Mr./Mrs. Seller, who in the last 15 days…” (Continued on next page.)

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STEP 11 CHECKING FOR COMMITMENT “Mr./Mrs. Seller, who in the last 15 days has consulted you on satisfying

(exceeding) these specific needs (expectations)? “No one!” “If I show you a way we can satisfy (exceed) all these needs (expectations) will

you allow me the opportunity to be your real estate consultant?” If Yes: “Great! Then let’s see how WE can create a 10++ sale for you!” If No: “What would it take for me to be your real estate consultant?”

NOTE: Never push! Your goal is to allow the potential seller to self-discover what a working relationship with you would be like! Also, always come back to the needs when handling objections or when seller loses focus!

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SAMPLE PRESENTATION Seller: “Yes!”

Consultant:“Great, because I want you to understand there is a definite difference between an agent and a real estate consultant! The real estate industry today looks something like this (draw diagram on p.19). Since 95% of the industry are just agents, chances are you’re going to come in contact with or have already come in contact with an agent! How do you know? An agent will come in and assume he knows what it is you need in the sale of your home without even asking you. He will assume you need the most amount of money in the shortest amount of time with the fewest hassles; and then will start telling you how he and his company’s image can satisfy those assumed needs. You see, with an agent, there is a lot of assuming and telling going on! Now, compare or contrast that with a consultant who will not assume anything! A consultant will ask you questions and listen to what it is you are needing in the sale of your home and then when he hears what your needs are, he will make a determination on whether a win-win relationship can be created! Does that make sense?”

Consultant:“Mr. and Mrs. Seller, at the end of tonight one of three things will happen. First, you may list your home with me and that would be great! Second, you may not list your home with me and to be honest, that wouldn’t be so great! And third, I may choose not to take your listing. Would that be a fair assessment?”

Seller: “Yes!”

Consultant:“The fact that I may choose not to take your listing may sound strange so let me explain. You see I’m a consultant, and I run a business, and I’m not just in the business of listing houses, I’m in the business of satisfying needs. As we visit here tonight, we may come across a need that you have that I feel I cannot satisfy. And, if we reach that point, I may choose not to take the listing. Would that be fair?”

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Seller: “Yes!”

Consultant:“Great, with that in mind, let’s talk about what it is you’re needing in this transaction! On a scale from one to ten with ten being very desirable and one being not desirable at all, what one thing could happen to make the sale of your home a 10?”

Seller: “That we get a good price!”

Consultant:“What’s important to you about getting a good price?”

Seller: “That we come out of this sale with enough equity to put down on our new home!”

Consultant:“Can you define for me “enough equity?”

Seller: “$20,000”

Consultant: “What’s another thing we could add to make the sale a 10+ for you?”

Seller: “That we sell the home rather quickly!”

Consultant:“Define quickly.”

Seller: “60 days!”

Consultant:“What’s important to you about selling the home within 60 days?”

Seller: “That’s when our new home will be ready!”

Consultant:“What’s important to you about getting into your new home on time?”

Seller: “So the kids can be situated before the new school year starts.”

Consultant:“Is there anything else that’s important to you about selling within 60 days?”

Seller: “Not really, we’d just like to be done with it and on with our lives!”

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Consultant:“If we could add just one more thing, thus making the sale of your home a 10++, what would it be?”

Seller: “Is this really necessary!”

Consultant:“I believe it is vital! As I explained earlier, I’m in the business of satisfying needs, thus it’s very important for me to understand exactly what you’re needing in the transaction so we can assure a win-win relationship will occur. Does that make sense?”

Seller: “Yes!”

Consultant:“Now what would be a third thing to make the sale a 10++?”

Seller: “That you keep us informed all the way through!”

Consultant:“What exactly do you mean by that?”

Seller: “That you don’t just put a sign in the yard and then disappear!”

Consultant:“Should we decide I’m the professional for the job of selling your home, we will cover your expectations of me and my expectations of you in full detail, is that fair?”

Seller: “Yes!”

Consultant:“Great! Mr./Mrs. Seller, if you could only have one thing on this paper, thus by having that one thing, the others wouldn’t seem as important or would just fall into place, which would it be?”

Seller: “To sell the home within 60 days!”

Consultant:“So, if we sold the home within 60 days but you didn’t net $20,000 you would be OK with that?”

Seller: “Wouldn’t be happy but I’d be OK!”

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Consultant:“If we sold the home within 60 days but you were disappointed with the communication process, you would be OK?”

Seller: “Again, I wouldn’t be happy, but I’d be OK?”

Consultant:“What’s the second most important thing on this paper?”

Seller: “That we get a good price for the home!”

Consultant:“So, if you were to get a good price but were disappointed with the communication process, you would be OK?”

Seller: “Yes!”

Consultant:“What you have just told me is that the most important thing to you about the sale of your home is that we have it sold within 60 days The second most important thing about the sale of your home is that you get a good price, and the third most important thing is that we have an open line of communication. Is this correct?”

Seller: “Yes!”

Consultant:“Great! Mr./Mrs. Seller, who in the last 15 days has consulted you on satisfying these specific needs?”

Seller: “No one!”

Consultant:“If I can show you a way to satisfy these specific needs, will you allow me the opportunity to be your real estate consultant?”

Seller: “Yes!”

Consultant:“Great! Then let’s see how we can create a 10++ sale for you!”

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WHY USE THIS DIALOGUE? When you have an impressive presentation coupled with high-level dialogue, the seller will realize he/she is dealing with a thinking professional and not the typical hobby-type realtor!! Remember: A seller wants to make up his/her own mind. They want to

feel that they are in control of the decision!! So what does this mean to you? It means your presentation should be designed in a way

which allows for self-discovery by the seller! Remember: You are not there to TELL the seller what he/she should do!

You are there to consult the seller to an intelligent, informed decision!!

Up to this point, your presentation should be consistent. Now, where your presentation goes depends on the seller’s needs.

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STEP 12 SATISFYING THE SELLER’S NEEDS

If a client’s #1 priority is a Good Price or Quick Sale:

“Mr. Seller, you told me that a quick sale was your number one priority. Let me assure you that my goal is to get your home sold quickly!”

“In getting your home sold quickly, we

must first analyze your area to determine the highest marketable price for your home.”

“Do you think pricing is important?” “Why do you feel that way?” “May I consult you a little on pricing?”

“Looking for a marketable price means researching exactly what buyers in your area feel a home like yours is worth. You see, (go to ghost buster page at the back of handout) what you paid for the home really doesn’t matter; what you need or want, really doesn’t matter; what your neighbor says, what another agent says, even the cost to rebuild your home today, doesn’t matter. The only thing that matters in pricing your home is what a buyer is willing to pay in today’s market!”

“Does that make sense?”

“Great, can I show you the research I’ve already done?”

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10+ Listings A Month Forever Don’t overwhelm the client with a “40 page” CMA that shows multiple

pictures of homes sold. Instead present a basic 3 page CMA that summarizes comparable homes which have sold, comparable homes which are currently

available, and comparable homes which have expired.

“My summary contains basically three important elements: Homes that have sold within the last year. This is your market. Homes that are Active in your area. This is your competition. And homes that have Expired in your area. These are the homes that for some reason have been rejected.

“First, let me cover the MOST IMPORTANT research, that being what has actually sold in your area.” (Go to Sold Summary Page and review thoroughly with seller. If seller asks where the numbers came from, go into your briefcase and pull out support pages. Review support pages with client only if they deem it necessary.)

“Looking at the sold information available, can you understand how a buyer would probably place your home in a range from $ ($5K below market) to $ (Market) ?”

“May I ask you what price you had in mind?”

If they suggest a higher price than market, say, “After looking at the research I’ve brought, would you share with me how you arrive at that price?”

“Buyers shop more for homes than for anything else they buy! On average, a buyer will look at ten homes before making a decision. That means nine other homes are COMPETING with yours!” (Show Active Summary Page.)

“At which price can we EFFECTIVELY compete?”

“Yours” (See slide 41 and 42 for dialogue) 37


WARNING: If The Seller Balks At Your Price:

YOU HAVE JUST ENTERED THE

WORLD OF PRICING OBJECTIONS!

PROCEED WITH

CAUTION!

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10+ LISTINGS A MONTH FOREVER “I appreciate that! You see Mr./Mrs. Seller, you’re not just hiring me to

provide you with information, you’re also hiring me to interpret the information for you! My analysis shows that in past buying situations in your area, this is what buyers are saying yes to (wave Sold Summary Page), and this is what buyers are saying no to!” (Wave Expired Summary Page!)

“Does this make sense?” “Let’s remember for a moment our overall goal!”

SOLD (Result of)

CONTRACT (Result of)

OFFER (Result of)

SHOWINGS (Result of)

MARKETABLE PRICE (Result of)

GOAL=

(Draw this on paper)

Continued on next page 39

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“You see Mr./Mrs. Seller, finding a marketable price for your home is not an abstract philosophy! We have the opportunity to know and understand what the buyers in your area are doing!” (Point to Sold Summary Page.)

Lay 3 Summary Pages on the table and ask, “In which category would you like to be?”

“My recommendation is that we list your home for

$_____________________ . Is this acceptable to you?”

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GOAL=SOLD “Let’s remember for a moment our overall goal!” The

goal is to get the home sold! Before we can get the

home sold, what has to happen? We have to sign a

contract! Before we can sign a contract, what must we

receive? We must receive an offer! Before we

receive an offer, what do we need to generate? We

need to generate showings! And, in order to generate

showings, what must we set? A marketable price!

(Hint: Let the seller answer each question before you

give the answer.)

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“Now, let’s talk about what we have control over! You see, getting the home sold is just the result of an accepted contract. An accepted contract is the result of an offer. An offer is the result of showings. And showings are just the result of a marketable price! Would you agree?”

“Yes!” “What on this page do we have control over tonight?” “Price!” “Right, then why don’t we take a proactive approach to satisfying these needs?” (Show needs sheet.)

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Once you agree on price, always ask, “How will you feel if your home sells tomorrow?” “I would feel like we priced it too low!” “That’s understandable! May I share with you my philosophy on pricing homes?” ______________________________________________________________+ $5,000 Room For Negotiation _______________________________________________________________Market “If we price it like most AGENTS and leave room for negotiation, then negotiation is what we’ll get! We may get ONE offer by pricing it $5,000 above market value but in most cases, the final, agreed upon price ends up below market! Why? Negotiation!”

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“It’s been my experience, if we price the home directly on the market, we have a better CHANCE of generating multiple offers which COULD drive the final, agreed upon price above the list price! Why? Competition!” “Therefore, don’t be surprised if we generate multiple offers rather quickly! This in no way means we’ve priced the home too low, it simply validates the fact that we’ve priced it just right!” “Now, based on your specific needs, where do you feel we should price the home?”

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10+ Listings A Month Forever Sellers will usually want to list their home above the market

price. Reasons for this include the following:

(1) Test The Market “We want to list at our price first and then come down to yours!” “I appreciate that, however, the first 30 days your home is on the market are the most crucial!” “Why do you think that is?” “The reason is really simple. Statistics tell us that only a handful of the buyers in today’s market will look

at a property that is over market price, and a vast majority of the buyers will look at a property that is market price or below. Chances are if your home is priced out of the market, it will not even come up in another agent’s search criteria for comparable homes!”

“Can we afford to lose a majority of the potential buyers for your home when their interest would be at

a peak level?” “If you were a buyer in today’s market, which properties would you look at?” “Does this make sense?”

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(2) Reimbursement For Money Spent Updating The Home “We’ve done all this updating over the past year!” “I appreciate that and in a buyer’s eyes that simply means you’ve brought

the home up to selling standards!” “If you were purchasing a home and two similar homes were for sale, one

for $150,000 and one for $160,000, which would you buy?” “Wouldn’t you agree most buyers would feel like you?” “Is this going to be an issue?” (If Yes – Go to Win/Lose dialogue) TRUTH: You don’t need unmotivated sellers in your life!!! WHY: You will never be able to exceed their expectations.

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10+ Listings A Month Forever (3) In Need Of Equity For Next Home “We have to have $20,000 to buy another home!” “Mr./Mrs. Seller, pretend for a moment that you are a buyer, we have already seen 5 homes and I

show you this one. You like it, but you’re curious why it is priced so far above the market. I reply that the seller has to have $20,000 to buy a new home.”

“What would you do as a buyer?” “You see, if I could net you $20,000 I would love to! We both would profit!” “I can only get you what the market will bear and that is right here (waive Sold Summary Page) in

these comparables!” “Does that make sense?” “I mean we could list the home for $20,000 over the market, but in doing so these needs (show

needs sheet) will not be fulfilled!” “How will you feel if these needs aren’t satisfied?”

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TIPS ON HANDLING OTHER LISTING OBJECTIONS

1. Be Agreeable (Don’t Debate) 2. Listen Carefully 3. Stay Into Curiosity (Don’t Jump To Conclusions) 4. Talk Slowly 5. Talk Softly 6. Persist and Stay Calm 7. Give An Answer 8. Keep It Simple 9. Stay Logical 10. Don’t Get Attached To The Outcome

Remember: You can’t lose what you don’t have!!!

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STEP 13 HANDLING OBJECTIONS

(1) “Will you work for five percent?” “No, that’s a win-lose relationship and with me it’s win-win or

no deal!” “You see Mr. Seller, I believe in win-win relationships. I firmly

believe one party should not have to lose for the other party to win!”

“If I take your listing, I am going to provide you with

exceptional, quality, consultative-type service which will be a definite win for you! If you want to discount me and pay me an AGENT’S fee of 5%, that would be a definite lose for me because I can’t operate a successful business on 5%! Does that make sense? Plus, it wouldn’t be fair if I charged you 5% and all of my other clients 6%! That just wouldn’t feel good to me!”

Other Common Listing Objections Include:

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(2) “Joe at ABC Realty said he would list my home for 5%!” “That’s great. Do you see how easily Joe sacrificed his money. Just

think how frugal he’s going to be with yours! Is Joe a consultant?” “Did Joe ask you what YOU needed in the transaction?” “My fee is 6%, is this going to be a problem?” “Do you remember at the beginning of our conversation when I told

you that if I came across a need (expectation) that you have that I felt I could not satisfy (exceed) I would choose not to take your listing? I think we’ve just reached that point.”

“You see Mr./Mrs. Seller, I believe in win-win relationships. I firmly

believe one party should not have to lose for the other party 10+ Listings A Month Forever to win.”

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“If I take your listing, I am going to provide you with exceptional, quality, consultative type service which will be a definite win for you! And if you want to discount me and pay me an AGENT’S fee of 5%, that would be a definite lose for me because I can’t operate a successful business on 5%! Does that make sense?”

“Do you think I can do a professional job for you?” “Do you think you and your investment are in better hands with me or

with Joe?” “You!” “Great, then shouldn’t we make this a win-win relationship from the

start?”

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(3) “Why should I pay you 6% when Joe wants 4%?” “Peace of mind!” “What do you mean?” “You can be certain that my #1 goal is to satisfy these specific needs!

(Point to needs sheet.) If I feel there is a need here that I can’t satisfy, then I won’t take the listing! Can Joe say the same thing?”

“Yes!” “Did Joe ask you about these specific needs?” “No” “Then how can you be assured Joe’s priority is getting your children in

school on time?” (Go to #1 hot button.) Bottom line, do you feel you and your investment are in better hands with me or with Joe?”

“You!” “Great, then shouldn’t we make this a win-win relationship from the

start?” TRUTH: The higher the price the lower the risk!

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(4) “Joe said he would list my home above the market!” “Sure he did, but I consider that a win-lose relationship and with me, it’s win-win or no deal! And when I

say it’s a win-lose relationship I mean it would be a win for either me or Joe and a lose for you!” “Does that make sense?” “No!” “Joe has agreed to take your listing at such a high price because he wants to use your home as leverage!” “What do you mean?” “Joe will use your home to generate buyer leads and when the potential buyer discovers your home is

overpriced, Joe will sell them another home! Win for Joe because his need is met; he made money! Lose for you because none of your needs are being satisfied!”

“Anyone who tells you he can get $ for your home is USING your home as leverage to attract buyers! Both

Joe and I know what’s going on, I’m just the only one being honest about it! Does that make sense?” “How important are these needs to you?” (Slide needs sheet in front of them.) “Very important!” “Then shouldn’t we assure a win-win relationship from the start?”

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(5) “Joe said he would list my home above the market!” “Are you saying that you will not list your home with me unless I list it above the

market?” “Yes!” “Great, here’s my suggestion. I want you to sign a three month listing agreement with

Joe and hold him accountable to HIS PRICE. Because it’s not fair for me to come in here and be honest with you and have Joe come in here and promise you something both he and I know he can’t deliver!”

“WHEN the home doesn’t sell, give me a call and I will be glad to come back out!” “Would that be fair?” (Start packing your materials.) “Before I leave, let me ask you one more question; do you have three months to

wait?” “What’s your plan B?”

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(6) “We want to sign a three month listing!” “I would like to list your home for six months and give you my easy-exit listing!” “What that means is that if at any time you become dissatisfied with my service or

with me as a professional, you can fire me with 48 hour written notice!” “Is that fair?” Insert the following in special provisions: If seller becomes dissatisfied with broker’s service, seller may terminate this

agreement with 48 hour written notice. Or Either party may terminate this agreement with 48 hour written notice if such

party becomes dissatisfied with other party’s service.

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(7) “We’ve never heard of XYZ Realty!” (If Question Comes At End Of Presentation:) “I appreciate that, and I understand you concern. Selling your home is not about XYZ

Realty, it’s not about (your name); really, it’s about getting these needs (show needs sheet) satisfied!”

“Would you agree?” “After our visit tonight, do you think I can satisfy these needs for you?” (If Question Comes At Beginning Of Conversation:) “I appreciate that and I understand your concern. Selling your home is not about XYZ

Realty, it’s not about ABC Realty, it’s not about (your name). It’s about you and your needs! So, why don’t we spend some time uncovering exactly what you’re needing out of this transaction and then together we’ll decide if a win-win relationship can be created!“

“Is that fair?”

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STEP 14 WIN/LOSE & MUTUAL EXPECTATIONS

Once objections have been handled, it’s time to set the boundaries for the relationship.

“Mr./Mrs. Seller, let’s switch gears for a moment. It’s been my experience that conflict only arises when expectations differ! Would you agree?”

“Great, with that in mind, …how does someone win with you?” “How does someone lose with you?”

(Write answers down.)

“Here’s how someone wins with me!” “Here’s how someone loses with me!” (Hand seller a sheet defining

how someone wins/loses with you.)

“What do you feel you have the right to expect from me as your real estate consultant?” (Write answers down.)

“Here’s what I feel you have the right to expect from me as your real estate consultant!”

(Hand seller a sheet defining what a seller has the right to expect from you.)

“What do you feel I have the right to expect from you as my client?”

(Write answers down.)

“Here’s what I feel I have a right to expect from you as my client!”

(Hand seller a sheet defining what you expect from a seller.)

“If I see something that I feel is keeping the home from selling, how should I approach you?”

“On a scale from 1 – 10 with 10 being brutally honest and 1 being dishonest, how would you like me to be?”

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10+ Listings A Month Forever HOW DOES SOMEONE WIN AND LOSE WITH YOU?

WIN LOSE

1. 1.

2. 2.

3. 3.

4. 4.

5. 5.

What do you feel you have the right to expect from me as your

Real Estate Consultant?

1.

2.

3.

4.

5.

What do you feel I have the right to expect from you as my

Client?

1.

2.

3.

4.

5.58


STEP 15 CLOSING

If the sellers have been allowed to self discover what a working relationship with you would be like and you’ve established yourself as a professional and as someone whom they feel they cannot work without, closing is a snap!!!

“Mr./Mrs. Seller, after our conversation tonight, I feel we have the makings of

a win-win relationship! Would you agree?” “Great… is there any reason not to go ahead with this?” are we ready to move ahead with this?” is there anything we need to do before we get started?” do you want me to handle this sale for you?”

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SAMPLE PRESENTATION

Consultant: “Mr. Seller, in order to get your home sold in 60 days, we must first analyze your area to determine the highest marketable price for your home! Do you think pricing is important?”

Seller: “Yes!”

Consultant: “Why do you feel that way?”

Seller: “Because the price is the thing that will determine whether the home sells or not!”

Consultant: “Exactly! Do you have any experience with pricing in this area?”

Seller: “No!”

Consultant: “May I consult you a little on pricing?” Seller: “Yes!”

Consultant: “Looking for a marketable price means researching exactly what buyers in your area feel a home like yours is worth! You see, (go to ghost buster page at the back of handout) what you paid for the home really doesn’t matter; what you need or want for the home really doesn’t matter; what your neighbor says, what another agent says, even the cost to rebuild your home today, doesn’t matter! The only thing that matters in pricing your home is what a buyer is willing to pay in today’s market! Does that make sense?”

Seller: “Yes!”

Consultant: “Great, would you like to see the research I’ve already done?”

Seller: “Yes!”

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10+ Listings A Month Forever Consultant: “My summary contains basically

three important elements: (show CMA summary) homes that have sold within the last six months, this is the market. Homes that are currently available in your area, this is your competition. And homes that have expired in your area, these are the homes that for some reason have been rejected.”

Seller: “Why have they been rejected?”

Consultant: “That’s a great question! There are usually four reasons homes don’t sell; price, promotion, presentation, and the professional hired to sell the home. Nine times out of ten, it’s because the home was priced too high! Does that make sense?”

Seller: “Yes!”

Consultant: “Great! First let me cover the most important research, that being what has actually sold in your area! (Go over Sold Summary Page.) Do you have any questions?”

Seller: “No!”

Consultant: “Great! Looking at this information can you understand how buyers would probably place your home in a range from $145,000 to $150,000?”

Seller: “Well, $150,000 looks like it might be on the low side!”

Consultant: “May I ask what price you had in mind?”

Seller: “Well, we really didn’t have a set price in mind but looking at your research, shouldn’t their be a little room over and above the $150,000 for negotiation? I mean aren’t we in a seller’s market?”

Consultant: “That’s a great question and you’re right, in today’s market we have twice as many buyers as sellers, therefore it is a great time to use the price of your home as leverage to generate multiple offers!”

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10+ Listings A Month Forever Seller: “What do you mean?”

Consultant: “If we price the home like most

agents and leave room for negotiation, then negotiation is what we will get! By pricing it $5,000 - $10,000 over the market you will usually generate one offer which really weakens our negotiating position! And, because of our weakened position, the price gets negotiated down to at or below the market! Does that make sense?”

Seller: “Yes!”

Consultant: “It’s been my experience that if we price the home directly on the market, we have a better CHANCE of generating multiple offers which would COULD drive the final agreed upon price above the list price! Does that make sense?”

Seller: “Yes!”

Consultant: “Now, which pricing strategy has a better chance of getting you into your new home within 60 days?”

Seller: “Pricing it at $150,000!”

Consultant: “Exactly! My recommendation is that we price the home at $150,000. Is this acceptable to you?”

Seller: “Yes!”

Consultant: “How will you feel if the home

sells tomorrow?”

Seller: “I would feel we priced it too low!”

Consultant: “That’s understandable and since we’re pricing the home directly on the market, don’t be surprised if we generate multiple offers rather quickly! This in no way means we’ve priced the home too low, it simply validated the fact that we’ve priced it just right! Does that make sense?”

Seller: “Yes!”

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10+ Listings A Month Forever Consultant: “Great! So, by listing the home at

$150,000, do you feel it will sell in 60 days?”

Seller: “If what you say is true it should!”

Consultant: “By listing the home at $150,000 I calculate you will net $17,000. You told me earlier that you needed to net $20,000. Is $17,000 acceptable to you?”

Seller: “Well, we’d really like to net $20,000! Is there any way you could lower your commission to get us closer to $20,000?”

Consultant: “No, that would be a win-lose relationship and with me it’s win-win or no deal!”

Seller: “What do you mean win-lose?”

Consultant: “I mean one party should not have to lose for the other party to win! If I take your listing, I’m going to provide you with the best service in the industry; which is a definite win for you! If you discount me and pay me an agent’s fee of 5%, that would be definite lose for me because I can’t operate a successful business on 5%! Plus, it wouldn’t be fair if I charged you 5% and all my other clients 6%! That just wouldn’t feel good to me!”

Seller: “Well, Joe at ABC Realty said he would do it for 5%!”

Consultant: “You see how easily Joe gave up his money, just think how frugal he’s going to be with yours! Is Joe a consultant or an agent?”

Seller: “I don’t know!”

Consultant: “You can be certain my number one goal is to satisfy these specific needs! (Point to needs sheet.) Can Joe say the same thing?”

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10+ Listings A Month Forever Seller: “I guess he can!”

Consultant: “Did Joe ask you about these

specific needs?”

Seller: “No!”

Consultant: “Then how can you be assured Joe’s priority is to get your kids situated before school starts?”

Seller: “I don’t guess I can!”

Consultant: “Exactly! Bottom line, do you think you and your investment are in better hands with me or with Joe?”

Seller: “You!”

Consultant: “Great! Then shouldn’t we make this a win-win relationship from the start?”

Seller: “Yes!”

Consultant: “Great! Now the third thing you said you needed was an open line of communication! It’s been my experience conflict only arises when expectations differ. Would you agree?”

Seller: “Yes!”

Consultant: “Great! With that in mind let me ask you a few questions that should guarantee on open line of communication! How does someone win with you?”

Seller: “What do you mean?”

Consultant: “How would one stay on your good side?”

Seller: “You’re honest, you do what you say you’re going to do, and you keep me informed throughout the process!”

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10+ Listings A Month Forever Consultant: “Anything else?” (Write all of

these down and repeat back.)

Seller: “You get the home sold!”

Consultant: “How does someone lose with you?”

Seller: “They lie, they disappear, and they under perform!”

Consultant: “Great! Let me share with you how someone wins and loses with me. (See samples in appendix section.) Does that make sense?”

Seller: “Yes!”

Consultant: “What do you feel you have the right to expect from me as your real estate consultant?” (Listen and repeat back to seller.)

Seller: “That you keep us informed and that you satisfy the needs we discussed earlier!”

Consultant: “Great! Here’s what I feel you have the right to expect from me as your real estate consultant! (See samples in appendix section.) Is this acceptable to you?”

Seller: “Yes!”

Consultant: “Great! If any of these ever change; please let me know immediately! There’s one more question that I feel is very vital to our communication process! How should I approach you on sensitive issues?”

Seller: “What do you mean?”

Consultant: “If I see something that I feel is keeping the home from selling, how should I approach you? On a scale from 1 – 10 with 10 being brutally honest and 1 being dishonest, how would you like me to approach you?”

Seller: “Be a 10!”

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10+ Listings A Month Forever Consultant: “Great! If you ever see

something I’m doing that you feel is keeping your needs from being met, I want you to be a 10+!”

Seller: “Agreed!”

Consultant: “Well, shall we review one last time? By listing the home at $150,000, do you feel we will generate a quick sale?”

Seller: “Yes!”

Consultant: “By listing the home at $150,000, do you feel you will receive a good price?”

Seller: “Yes!”

Consultant: “Do you feel we’ve established acceptable communication boundaries?”

Seller: “Yes!”

Consultant: “Do you feel your home will be marketed properly?”

Seller: “Yes!”

Consultant: “After our conversation tonight, I feel we have the makings of a win-win relationship! Would you agree?”

Seller: “Yes!”

Consultant: “Great! Is there any reason not to go ahead with this?”

Seller: “No!”

Consultant: “Press hard there are 4 copies!!!!” (ha ha)

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SO, ANY AHA’S?

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References

• Keller, Gary, Dave Jenks, and Jay Papasan. Shift: How Top Real Estate Agents Tackle Tough times. New York: McGraw-Hill, 2009. Print.

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