Building listing inventory is the key to a good real estate brokerage business. This will help develop consistent cash flow. If you have no active listings it’s like having an empty shoe store. And you have to still pay your overhead. Learn “The Shoe Store Analogy”. Restock your inventory before you spend your commission income. Building & maintaining listing inventory is the key. Focus on building listing inventory by one each month.
Prospect for NOW business
Where do we find inventory?
NOW BUSINESS IS BUSINESS TO FOCUS ON BECAUSE NO CASH FLOW IS REQUIRED. CALLING FSBO’S IS KEY.
Have a good file system (habits & obstacles). It takes 100 days to create a habit. To do this you need to remove obstacles which are draining your energy. Speed bumps suck energy out of the car—start out with a full tank of gas-then we go into our tank—going into office making calls-sucks energy.
Redx prospecting system.
Www.darrylSpecial.com $300 value/no set up & first month free.
Promo code is SMILE.
When you are committed to prospect start system.
Dialogues are important.
Smile-connecting with buyers makes it easier.
Talk from your heart not your head.
Dialogue & file system key to prospect effectively:
FSBO CONVERSATION—YOU CAN BE THE CONVERSATION—INVENT THE CONVERSATION WHEN YOU KNOW THE STEPS.
LISTING CONVERSATION—STOP PRESENTING & START COMMUNICATING:
R. E. A. L.
Rapport-connect with you-connect with them, get them to know you & like you. Focus & be present.
Engage-them in the conversation—ask questions-to find a problem & offer a solution. Shelter is the number three human need after food & water.
People selling homes are committed to a starting the next level of life-getting them to their next level in life—try to coach them to the next phase by managing the real estate portion. YOU ARE A Real estate coach-committed to how to get to the next level in life. Real estate licensees should be committed to helping buyers & sellers get to their next phase in life.
It’s about you giving a service, not you taking a listing.
“My job is to be committed to what you’re committed to—what are you committed to? Moving to Florida and retiring or the refrigerator?” Be strong with them.
Ask-questions to see what they’re committed to. Give advice on how to get to next level.
What does a seller need to buy into during the listing appointment?
FSBO’s have not bought into the profession.
Speak to why you chose the profession.
Hire a Realtor even if it is not me.
Talk THE TALK with FSBO’S.
USA TODAY-Realtors are worth their weight in commissions.
Wall Street Journal-Colby Sambrotto hired a real estate to sell his personal condo, listed with an agent, even though he is the king of FSBO’s-wrote a bestselling book about it-yet used an agent & got $150,000 over the asking price that he listed as a FSBO.
Which buyer would you want?
Not looking to buy a home are looking to use an agent—not UNLIKE BUYERS THAT ARE LOOKING TO BUY FROM EBAY, HIGHER RISK LOWER PRICE FOR FSBO’S.
Dealership PRICE IS 10% more than privately owned cars less risk involved in Kelly bluebooks.
The real estate professional is the person you are speaking to-the director of the group. The rest of the people are behind the curtains listed above—real estate agent is the director.
Story telling is key to effective presentations: Use stories, metaphors & analogies on a listing presentation. Connecting our presentation to our hearts-not thinking it, feeling it.
Directors technique, eBay, USA today, Colby Sambrotta-metaphors & analogies.
You cannot sell a dollar bill for $1.10 at the mall.
Improvements will make your home sell faster & for more money. It’s all in the details.
Handling objections-price, commission, the other broker told me, etc.
For open house—refer to Sell this House TV program.
You do an open house-I am the hidden camera-because people will only tell you the nice things about the house—they’ll tell me everything- good & bad.
CREATE A SYSTEM OF COMMUNICATION
TELL THEM HOW HARD YOURE WORKING BY:
MAILING TWO LETTERS WITHIN THE FIRST SEVEN DAYS OF GETTING A LISTING.
MAIL ONE LETTER EVERY OTHER WEEK AFTER THAT.
GIVE THEN SUGGESTIONS TO MARKET THEIR HOME-DON’T POINT OUT CLUTTERED AREAS—MAY BRING UP NEGATIVE CONCERNS FROM BUYER.
AS I PROMISED YOU I WILL EXERT EVERY POSSIBILITY AVAILABLE BEFORE MARKETING YOUR HOME-IF NOT WITHIN THE FIRST MONTH WE WILL DISCUSS THE POSSIBILITY TO MARKET YOUR HOME MORE EFFECTIVELY (BY LOWERING PRICE, CLEANING UP, STAGING, IMPROVING DETAILS, ETC.)
SEND LETTER BEFOREHAND WITH WAYS TO MORE EFFECTIVELY MARKET HOME-example: STAGING & PRESENTATION DURING OPEN HOUSES
A written is the least effective way to present offer.
Write on offer-contingent upon you presenting directly to the seller.
YOU ARE PRESENT UPON PRESENTING OFFER TO SELLER IS KEY.
WRITE ON OFFER: “THIS OFFER IS CONTINGENT ON ME PRESENTING THIS AGREEMENT DIRECTLY TO SELLER.”
GET OFFER PRESENTED BEFORE SELLER & BUYER GOES TO SLEEP.
DESIGNATE A PARTNER TO PRESENT IF YOU CANNOT DO IT.
GET A LARGE DEPOSIT TO STRENGTHEN OFFER IN A COMPETITIVE MARKET.
THIS OFFER EXPIRES AT ——- unless the seller accepts it.
Motivate buyers to buy.
Listing appt. beginning, middle & end-don’t wing it.
Meet a buyer for the first time-motivate to buy now—mentally get them ready to buy now.
Presenting the offer—sellers are committed to their next level-move them from ‘show me the money’ to getting them to the next level in their journey. To accept price-do it in person-to prepare them to accept the price. Over the phone conversation is agent centered & is more about the money. “If held for a long time houses are better than stocks” -Warren Buffett.
OVERCOMING BUYER OBJECTIONS:
Children do better academically in homes that are owned over rentals. Owning is more cost efficient than renting.