denny grimes the shift is on, get ready with the power of 3
TRANSCRIPT
Recording
The Shift is ON, Denny Grimes
Facebook.com/dennygrimesandcompany Twitter.com/dennygrimesco
Get Ready With The Power of 3
Denny Grimes
⦿33 years of Real Estate experience⦿BA and MBA from University of South Florida⦿Earned several distinctive real estate industry honors: CRS, CSP, ABR and CDPE⦿Past Director of the Florida Association of Realtors and the Fort Myers Association of Realtors.
Triple Your Production
with the Power of 3
TRIPLE YOUR LISTINGS BYUSING….
THE POWER OF 3
1. Help agents identify higher probability prospects (input) which will lead to a better output2. Give agents the foundation for a bulletproof listing
presentation3. Prepare agents for listing success by understanding real
estate axioms
3 LEARNING OBJECTIVES
AxiomWhen listings are easy to get, they are hardto sell (vice versa)
1. It’s dangerous information2. It’s the “pause” that can kill you3. How to spot the beginning oF the beginning
3 THINGS YOU SHOULD KNOW ABOUT THE COMING SHIFT
The 2016 Residential Market
3 Letters ThatWill Change Your Career
The Designation
You Don’t Want
CRSABRCRBGRIING
MARKETINGEXPERT
Does Marketing Sell Homes?
“How’s the Market?”
Buyer’s
Seller’s
Equilibrium
What type
of market are you in?
Axiom All market types(buyer, seller, equilibrium)exist in each geographic area
1. SELLER (0 -5 mo)2. EQUILIBRIUM (6-10 mo)3. BUYER (>10 mo)
3 MARKETS & HOW TO PRICE ACCORDINGLY
This is My MarketFort
Myers/Naples
4 Months
of Inventor
y
MONTHS 0 5 10 18 24 30 36
Lee County-Months of Inventory 2016
UNHEALTHYHEALTHY
SELL
ER’S
MAR
KET
IN B
ALAN
CE BUYER’S MARKET
MONTHS 0 5 10
18
24
30
36
Lee County-Months of Inventory 2016
UNHEALTHYHEALTHY
Our Board Publishes 4 MOI
SELL
ER’S
MAR
KET
IN B
ALAN
CE
BUYE
R’S
MAR
KET
Segment by Price Range
MONTHS 0 5 10
18
24
30
36
Months of Inventory (Lee County, FL)
$1m+
$750K-$1m
$500K-$750
$250K-$500
$100K-$250
<$100K
15
15
UNHEALTHYHEALTHY
2016
Segment by Subdivision
Segment by Subdivision
MONTHS 0 5 10
18
24
30
36
Months of Inventory (Gateway)
$500+
$400K-$500
$250K-$400
$<$250
21 months
7 months
3 months
.65
UNHEALTHYHEALTHY
2016
1. Understanding the Dr./patient relationship2. Understanding the concept of Mkt. Momentum3. Understanding success is a “we” thing, not “me” thing
3 CRITERIA TO ACCEPT A CLIENT- “THE BOX”
Where are Your Clients on this Curve?
Over Compliant
Over Controlling
Buyer Extremes
Never Question Price, EZ
Criteria, no demands on
agent
Wants deal of the century,
won’t commit to one agent, won’t listen to
advice, low ball offersReasonable and
Profitable Buyers
Seller Extremes
Never Question Price, EZ
Criteria, no demands on
agent
Wants deal of the century, wants short listing, low fee, won’t listen to advice,
expects you 24/7
Reasonable and Profitable Sellers
Template
Buyers Sellers
Reality
Who Always Wins This Battle?
The Winner is the one that
has the Market Muscle
1. A = ACCURATE INFORMATION
2. C = COMPELLING DESCRIPTION
3. E = ENGAGING PHOTOGRAPHY
3 INGREDIENTS FOR A PERFECT MKT. PLAN
A = Accurate Information
Listed for $96 Million
Eventually corrected to
$96,000 Sold for $55,000
C = Compelling Description“A real fixer-
upper”
E = Engaging Photography
“The Florida
version of a drive-byshooting”
Axiom The Real Estate Market
is Efficient
What happens when you put water
in the freezer?
1. Low to NO Showings
2. Showings, Low to no offers
3. It Sells
3 MARKET OUTCOMES AFTER YOU LIST
1. Low to no Showings
2. Showings, but low to no offers
3. It Sells
1. We are not in the people business….
2. That it’s our responsibility to predict a selling price
3. Selling a home fast is a good thing
3 MYTHS THAT MAY COST YOU MONEY
BUYER FRUSTRATION CURVE Frustration
level
Time
When Pricing in a Seller’s Market
Top $
Market Value Range
3 Lines Detrimental to
Business
When is your baby due?
24 Hour Notice on Showings
Feedback: Asking if it’s priced right
Question & Answer
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