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2nd Quarter, 2006 Council Day

Weichert Affiliates Mass Media Services

Weichert Affiliates Mass Media Services

Leads Management

Leads Management

Teaching Listing Techniques For A Normalizing Market

Teaching Listing Techniques For A Normalizing Market

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1st Quarter Council Day Follow Up

1. Weichert Lead Network

Did you…• Audit your roster of Lead Network Specialists

 • Install a routine to insure that management is

monitoring the “portal” to insure your agents are following up and “statusing” the leads they receive.

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1st Quarter Council Day Follow Up

2. Experienced Agent Recruiting

Did you...•  Purchase an Experienced Agent Portfolio.

 • Download the custom elements and train your

Marketing Specialist/Doors Tec to create the presentation and leave behinds.

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1st Quarter Council Day Follow Up

2. Experienced Agent RecruitingDid you...•  Begin building a database of agents to target.

(under six months, six months to a year, agents that co-broked with your office, etc.)

 • Put in place a system for staying in contact

through direct mail, phone calls and face to face meetings.

 

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1st Quarter Council Day Follow Up

2. Experienced Agent Recruiting

Did you...

• Schedule time for making contact with these prospects.

 

 

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Benefits of A Leads Management System 

Management knows the exact number of leads coming into the office.

Management knows the source of all leads. With this information strategic marketing decisions can be made. A company can know if certain media expenditures are really paying off.

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Benefits of A Leads Management System

Management knows what agent received what leads and can track to conversion and measure effectiveness. Poor conversion ratios can be a trigger for needed training.

Management has the names and contact information of most inquires. Customers are more likely to offer this information to a “non-selling” service provider.

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Benefits of A Leads Management System

Customer service is enhanced. A better experience is more likely with a skilled client coordinator than a hassled “floor duty” agent.

Accurate call data can reveal market shifts or trends. This information may trigger the need to expand with an office in another market.

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Benefits of A Leads Management System

Recruiting is made easier. Demonstrating accurate data about your phone activity to potential recruits can be a strong point in your company value.

Conversion ratios increase. With the opportunity to follow-up on leads, management is put in the position to reduce lost calls.

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Benefits of A Leads Management System

Enhanced profitability. Management has the opportunity to distinguish between “company generated leads” (CGL’s) and “agent generated leads” (AGL’s).

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Leads Management

The Lead Network is highly effective due to specific components in place …

        Lead Generation

        Capture

        Assignment

        Follow-up

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Leads Management is a Team Sport.

Receptionist

• Captures Leads from Walk-ins and Phone

• Assigns Some Under Predetermined Guidelines

• Assists Lead Manager With Inputting Leads To Data Base

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Leads Management is a Team Sport.

Agents

• Determine Quality Of Lead

• Follow-Up With Leads Management System

• Close Leads to Transactions

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Leads Management is a Team Sport.

Management

Manages the Lead Manager

Monitors Trends

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Leads Management is a Team Sport.

Leads Manager

Captures and Assigns Leads From Other Sources (Internet, Relo, Broker to Broker, Company Marketing Efforts, etc.)

Trains Lead Specialists

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Leads Management is a Team Sport.

Leads Manager

Maintains Data Base and Reports

Manages Incubation

Reports To Management

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Lead Generation

CGL’s

Corporate Relocation

Broker to Broker Referrals

Internet Leads

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Expand The List - CGL’s

Direct Mail

Company Advertisement

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Capture

Non Selling Support Staff

• Time of Lead

• Source

• Name and Contact Information

• Who received the lead

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Capture Steps

1. Change the way your phones are answered. Expand the welcome script of your receptionist(s).

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Capture Steps

2. Receptionist logs the information and assigns the lead.

3. Receptionist and lead manager input leads from all sources.

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OVERCOMING COMMON SELLER OBJECTIONS

What is an Objection?

An objection is a seller’s hesitation that slows down the progress of the selling process.

It’s an Opportunity!

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An Opportunity To Know

Know what’s on your seller’s mindUnderstand their beliefs, fears, and

concernsProvide solutions.

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Objection Handling Model

1. Uncover1. Uncover

2. Provide2. Provide

3. Check3. Check

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The Model

• Ask questions to pinpoint the seller’s concerns

• Listen carefully to make sure that you truly hear what the seller is saying.

• Confirm understanding of the objection by summarizing

1. Uncover1. Uncover

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The Model

• Providing the features and benefits that Weichert has to offer

• Answer the seller’s concerns.

2. Provide2. Provide

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The Model

• Get your seller’s concurrence. Ask if the problem is resolved.

• If not, begin the process again

• Check for any other concerns

3. Check3. Check

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Applying the Objection Handling Model

Three reasons for the strategies’ effectiveness

1. Confirms seller’s objection.

2. Buys you a few seconds.

3. Helps avoid the mistake of trying to answer the objection before you have a clear understanding.

“I don’t want an Open House.”

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Applying the Objection Handling Model

1. Confirms seller’s objection.

See how the Associate restates and repeats the seller’s concern to ensure that she is interpreting the concern correctly.

“I don’t want an Open House.”

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Objection – “Will you reduce your commission?”. • Pair up.

• One person is the Seller and one the Agent.

• Do not be restricted by the number of boxes. A real world scenario could involve much back and forth.

• Roll play and then reverse rolls.

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PRICING TO THE FUTURE: USING THE PRICE TREND ANALYSIS

• Pricing system that is based on the trends in the marketplace

• Centers around pricing to the future

• In many ways, it is similar to the CMA

• PTA goes further by also examining the pricing trend in the marketplace

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Benefits of the Price Trend Analysis

• The Price Trend Analysis is also a great tool that you can use in working with your buyers

• Customers who do not see the price trends will continue to bid unsuccessfully

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Downward or Normalizing Trends In The Market

• What if the market is slow, and your PTA reveals a steady or even downward trend?

• Can you still use the PTA in such a market?

YES

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Downward or Normalizing Trends In The Market

Use the PTA to show your sellers why they should list their house NOW, rather than later

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Using the PriceTrend Analysis

1. When meeting with sellers at a listing

appointment

2. Demonstrate market trends to

potential sellers for pricing decisions.

3. Demonstrate pricing trends to buyers

for the purpose of helping them make

better offers.

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PTA Guidelines

• Pick 3 comps carefully

• Avoid recording any recommended

price on the PTA prior to the listing

appointment

• Come to a partnered agreement on

the listing or offer price

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PTA Guidelines

• As the Neighborhood Real Estate

Specialist point out additional factors

Such As..

1. Unique features of the property

2. Recent political or economic

developments

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BIT’s For 2nd Quarter Council Day

1. Do what you didn’t do from the 1st Quarter Council Day.

What will it be?

2. Train receptionist on new procedure for answering phones.

3. Install lead tracking software.

Which system are you leaning toward?

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BIT’s For 2nd Quarter Council Day

4. Secure a reliable Do-Call list source.

5. Begin or continue call nights and other structured agent prospecting systems.

6. Begin or ratchet up at least one CGL source.

What will it/they be?

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BIT’s For 2nd Quarter Council Day

7. Download materials for “Overcoming Common Seller Objections” and “Pricing to the Future: Using The Price Trend Analysis” and incorporate into sales meeting training.