2 nd Quarter, 2006 Council Day

1. 2nd Quarter, 2006 Council Day Leads Management Teaching Listing Techniques For A Normalizing Market Weichert Affiliates Mass Media Services

2. 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.

3. 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.

4. 1st Quarter Council Day Follow Up • 2. Experienced Agent Recruiting • Did 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.

5. 1st Quarter Council Day Follow Up • 2. Experienced Agent Recruiting • Did you... • Schedule time for making contact with these prospects.

6. 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.

7. 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.

8. 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.

9. 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.

10. 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).

11. Leads Management • The Lead Network is highly effective due to specific components in place … • ·Lead Generation • ·Capture • ·Assignment • ·Follow-up

12. 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

13. Leads Management is a Team Sport. • Agents • Determine Quality Of Lead • Follow-Up With Leads Management System • Close Leads to Transactions

14. Leads Management is a Team Sport. • Management • Manages the Lead Manager • Monitors Trends

15. 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

16. Leads Management is a Team Sport. • Leads Manager • Maintains Data Base and Reports • Manages Incubation • Reports To Management

17. Lead Generation • CGL’s • Corporate Relocation • Broker to Broker Referrals • Internet Leads

18. Expand The List - CGL’s • Direct Mail • Company Advertisement

19. Capture • Non Selling Support Staff • Time of Lead • Source • Name and Contact Information • Who received the lead

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

22. Capture Steps • 2. Receptionist logs the information and assigns the lead. • 3. Receptionist and lead manager input leads from all sources.

23. 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!

24. An Opportunity To Know • Know what’s on your seller’s mind • Understand their beliefs, fears, and concerns • Provide solutions.

25. Objection Handling Model 1. Uncover 2. Provide 3. Check

26. 1. Uncover 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

27. 2. Provide The Model • Providing the features and benefits that Weichert has to offer • Answer the seller’s concerns.

28. 3. Check The Model • Get your seller’s concurrence. Ask if the problem is resolved. • If not, begin the process again • Check for any other concerns

29. “I don’t want an Open House.” 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.

30. “I don’t want an Open House.” 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.

31. 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.

32. 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

33. 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

34. 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

35. Downward or Normalizing Trends In The Market • Use the PTA to show your sellers why they should list their house NOW, rather than later

36. Using the PriceTrend Analysis • 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.

37. 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

38. 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

39. 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?

40. 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?

41. 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.