lead generation 36:12:3 power session 8: fsbos and expired listings
TRANSCRIPT
Lead Generation 36:12:3
Power Session 8: FSBOs and Expired Listings
Lead Generation 36:12:3 Slide 2
In this Power Session …1) Introduction
2) Who They Are
3) A Limiting Belief
4) The Opportunity
5) Steps for Working with FSBOs
6) Steps for Working with Expired/Withdrawn Listings
7) Putting It All Together
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Power Session 8
Lead Generation 36:12:3 Slide 3
Ground Rules1) Arrive on time.2) Form groups quickly.3) Limit side conversations.4) Turn off cell phones and pagers.5) Be comfortable.6) Respect time.7) Respect each other.8) Help each other learn.9) Respect confidentiality.10)Have fun!
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IntroductionPower Session 8
Lead Generation 36:12:3 Slide 4Page 4
Introduction
How You Will LearnLearning Methods
1) Manual• Models/Systems• Exercises/Discussion• Stories
2) Classroom• PowerPoint slides• KWConnect videos• Classmates/Instructor
Power Session 8
(continued)
Lead Generation 36:12:3 Slide 5Page 4
Introduction
How You Will LearnAccountability Methods
1) Lead Generation Action Plan
2) Accountability Partner/Program
Power Session 8
1. Set Goals
2. Do Key Activities
3. Measure Results
4. Evaluate Process
5. Make Adjustments Accountability
Feedback Loop
Lead Generation 36:12:3 Slide 6
EXERCISEWhere You Are Today
1) Lead Generation Activities
2) My aha’s from these activities
3) The most difficult part of these activities
4) What I will do differently in the next 24 hours
Time: 10 minutes
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IntroductionPower Session 8
Lead Generation 36:12:3 Slide 7
Why You Are Here
Learn how to take advantage of
a tremendous opportunity!
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IntroductionPower Session 8
You are here!
Lead Generation 36:12:3 Slide 8
Introduction
What Will Make This a
Great Training Experience• • •
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Power Session 8
Lead Generation 36:12:3 Slide 9
Who They Are
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Most Important Reason for Selling Home as FSBO
Did not want to pay commission 51%
Sold to relative, friend, or neighbor 22%
Buyer contacted seller directly 12%
Did not want to deal with an agent 8%
Agent was unable to sell home 3%
Seller has real estate license 2%
Could not find suitable agent 1%
Other 2%
Source: “2006 NAR Profile of Home Buyers and Sellers”
Lead Generation 36:12:3 Slide 10Page 14
Who They Are
Expired and Withdrawn Listings
What are the main reasons houses do not sell?
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Lead Generation 36:12:3 Slide 11Page 14
Who They Are
Expired and Withdrawn Listings
Main Reasons Houses Do Not Sell1) Overpriced relative to the existing market
2) In poor condition
3) Not marketed well
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Lead Generation 36:12:3 Slide 12Page 15
Who They Are
Expired and Withdrawn Listings
Do Not Call Lists (federal and state)
http://www.telemarketing.donotcall.gov
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Lead Generation 36:12:3 Slide 13Page 17
A Limiting BeliefPower Session 8
Myth
You can only succeed with FSBOs and expired/withdrawn listings by being
aggressive and direct.
You can win with FSBOs and expired/withdrawn listings by coming from contribution, establishing trust, and staying in touch.
Truth
Lead Generation 36:12:3 Slide 14
6 Ways to Win with FSBOs and Expireds1) Get the listing.
2) Find a buyer for the house.
3) Help the seller buy a new home nearby.
4) Refer the seller to another agent (out-of-town moves).
5) Meet potential customers by offering to host open houses.
6) Help the seller write up business if the seller finds a buyer (for a negotiated commission).
The Opportunity
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Lead Generation 36:12:3 Slide 15
Direct ApproachDianna KokoszkaBe straightforward and ask for the business
Indirect ApproachJean GrubbLet the seller self-discover the need for your services
The Opportunity
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Mindset
Come from Contribution1) Ask, “What can I do to help you today?”
2) Offer your expertise.
3) Offer services.
The OpportunityPower Session 8
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Lead Generation 36:12:3 Slide 17
Prepare
1) Know what you are going to say.
2) Prepare materials to give them.
3) Create an 8 x 8 customized for FSBOs.
4) Set your goals.
5) Find them.
6) Organize your information on each listing.
Steps for Working with FSBOsPower Session 8
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Lead Generation 36:12:3 Slide 18
PrepareCreate an 8 x 8 Customized for FSBOsTouch 1 Preview property. Leave FSBO Packet.
Touches 2–3 Send postcard or letter each week.
Touch 4 Make a telephone call.
Tourhes 5–7 Send different postcards or letters.
Touch 8 Make a telephone call.
Steps for Working with FSBOsPower Session 8
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Lead Generation 36:12:3 Slide 19
PrepareGene Rivers’ postcard subjects1) Price 5) Showing
2) Condition 6) Price Reduction
3) Competition 7) Marketing for Just Reduced
4) Marketing 8) What Do I Do Now?
Steps for Working with FSBOsPower Session 8
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Lead Generation 36:12:3 Slide 20
EXERCISE
Write questions, statements, information of value, or scripts you can use for eight FSBO contacts.
Time: 10 minutes
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Steps for Working with FSBOsPower Session 8
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Take Action
Practice scripts and handling objections so you’ll have confidence in yourself and you’ll know what to say.
Steps for Working with FSBOsPower Session 8
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Lead Generation 36:12:3 Slide 22
Follow Up
1) Put leads in your database.
2) Implement an 8 x 8 marketing action plan.
3) Send a thank-you for referrals.
4) Follow up until they list or sell.
Steps for Working with FSBOsPower Session 8
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Lead Generation 36:12:3 Slide 23
Prepare
1) Know what you are going to say.
2) Prepare materials to give them.
3) Create an 8 x 8 customized for expired listings.
4) Set your goals.
5) Find them.
6) Check the Do Not Call list.
7) Organize your information on each listing.
Steps for Working with ExpiredsPower Session 8
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Lead Generation 36:12:3 Slide 24
PrepareCreate an 8 x 8 customized for expiredsDay 1 Call and deliver an expired packet.
Day 2 Make a telephone call.
Day 3 Send a postcard or letter.
Day 4 Make a telephone call.
Day 5 Send a marketing statistic or special report.
Day 6 Make a telephone call.
Day 7 Promote your marketing plan.
Day 8 Make a telephone call.
Steps for Working with ExpiredsPower Session 8
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Lead Generation 36:12:3 Slide 25
Take Action
Practice scripts and handling objections so you’ll have confidence in yourself and you’ll know what to say.
Steps for Working with ExpiredsPower Session 8
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Putting It All Together
EXERCISECall FSBO and Expired Listings
1) Instructor demonstrates calls.
2) Agents make calls.
Time: 30 minutes
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Power Session Aha’s
What did you learn and what are you going to implement or do differently?
Putting It All Together
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Your Lead Generation Action Plan
1. Think about the role prospecting to FSBOs and expireds will play in your prospecting activities.
2. Enter your current and future goals on the worksheet in your manual.
Putting It All Together
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Putting It All Together
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Power Session 8
The 3-Hour Habit
1) Time block 3 hours every workday before noon.
2) No skipping. If you must erase, then you must replace.
3) Allow no interruptions (unless they truly are emergencies).
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Thank Youfor Being Here!
Don’t forget your evaluations!