Here was a recent quandary facing one of my coaching clients:

Question:

We are running into buyer call ins.  We get statements like “I just want to look at the home.”

Please give me your thoughts on working through this.  What should we say on the phone or in email to the person?  Also, I think if you try to overcome the objection 2 times and they still insist then we would show the person our own listing.  The benefit would be that we can try to talk to them face to face at the showing and it looks good to our sellers if we show our own product.  We will not show beyond that without a meeting.

Answer:

When you have commissioned buyer agents who do not produce leads (as you have), you will not get them to turn down a showing no matter how little information the buyer shares.  If you have a salaried buyer’s agent who handles showings and does the lead generation for secret properties, he or she will be more likely to do what you tell him or her.

We know that a buyer will only participate in a question and answer forum if they are given a reason to do it.  You have to give value.  Tell them this – “If I know more about you, I can show you additional properties that may fit your needs even better!”  If that question does not produce answers to your questions then follow up with – “If I can understand your situation better, I can show you off-market property from FSBOs, our old expireds, our past client database, our advertising your needs to the neighborhood(s) you target.”  If those two given values do not result in the buyer answering a few simple questions, then they are probably one of the following:

A.      A relative of another agent

B.      A current buyer looking for comps to their new purchase

C.      Working with an agent who cannot get away to show the property

D.      A weirdo who likes looking at property but never buys.

Those buyers who will not answer your questions and want to see property should be referred to someone in your office who needs that kind of business.  Is there that small percentage that they might buy from this agent? Sure, but your business is run differently.  For some agents, this kind of business is better than no business.

Once the buyer agrees to answer the questions, finds out you care about them, hears more about your “off-MLS” property — it will be easy for them to speak with a lender to obtain a “seller price dropping” pre-approval certificate.  It will also be easier to get the buyer(s) to sign a loyalty agreement.  If you want to meet them at the property then try these steps, the client has no reason to jump through any hoops since he or she has you jumping through them.

When it is your own listing, I would let up on this a little due to the benefit of the seller seeing you in action.  If you are unsuccessful, it sets you up for a price reduction.

Bottom line: you have more control over a salaried buyer’s agent vs. a commissioned one.

Walter Sanford has been designing and implementing real estate systems for 30 years.  One of the most successful REALTORS® and now wealthy from his systems, Sanford teaches his systems and strategies through his products, seminars, and personal coaching producing the best results in the industry.  Do what works, do what is proven.  Hire Walter Sanford.  Call our office at 800.792.5837, email walter@waltersanford.com, or chat with us online at www.waltersanford.com.

For years, I have taught real estate agents the merits of having their top priority be a pro-active, seller lead generation system.  All roads lead to the acquisition of a seller appointment!  We know that more sellers and “better” sellers means that you implement the least expensive and most effective way of developing buyer leads with your listings.

Many times, the disappointment of obtaining a lead and losing a listing presentation to the competition can knock the wind out of you for a few days so let me propose a semi-controversial method of determining how you can learn from your possible mistakes.

As a quick side note, please be aware that sometimes you simply lose the listing because you are not the last person presenting and/or the other agent “bought” the listing with a higher market price.

If it’s returned, this survey below may give you an insight as to what happened; even if it isn’t returned, it may be considered as outstanding follow up by the seller, which will look good for you when you implement my expired program should the property not sell!

Here is the survey that I would send to the few listings that I lost:

Email: A Survey to Determine Why We Did Not Receive the Listing

To:     Name

RE:     Thank You for Giving Me an Opportunity!

Congratulations on placing your home on the market! You have chosen a good real estate agent. I am disappointed that my company was not the one chosen to represent you, but I understand that it is your choice. I learned a lot of information that will help me when I find a buyer whose needs match your property.  I also understand that my company can learn a great deal about our own strengths and weaknesses from our unsuccessful presentation.

We put a lot of time and effort into our presentation for you, and we would appreciate it if you could tell us where we excelled and where we fell short.  Attached is a short survey.  Please take a moment to help me improve my services to future sellers by answering the questions and hitting the reply.  Thank you very much in advance!

1.       What was Walter Sanford’s biggest interest?______________________________________________________

2.       What two items impressed you about Walter Sanford’s presentation?___________________________________

3.       What two items were not impressive?_____________________________________________________________

4.       How could Walter Sanford have earned this listing?__________________________________________________

5.       What most impressed you about the agent that you did choose?_______________________________________

6.       Would you recommend Sanford Systems and Walter Sanford in the future?_______________________________

7.       If not, what would change your mind?____________________________________________________________

Thank you for helping our firm to become as strong as possible.  Our goal is to become an asset and a resource and to keep clients for life.   Your input will help us meet that goal!  I will build some interest in your property at meetings with potential buyers.

Sincerely,

Walter Sanford

Sanford Systems

An oil and gas lease lottery millionaire by age 16, Walter S. Sanford was in massive debt by the time he was 22.  Taking his winnings, he invested in over 400 units and found that high leverage real estate can be detrimental to your financial health.

Obtaining his real estate brokerage license during the 80s, Walter went on to become what some believe to be one of the top agents in North America.  He built his career on systems that are in demand by virtually every major franchise and top producing agent in the world.  1995 was Walter’s best year, in the midst of a real estate depression in Southern California, where he personally closed 316 transactions.

Walter Sanford now coaches some of the top agents and travels internationally to deliver his seminars based upon systems with velocity increased by technology.  He is the author of 10 ground-breaking books and software that assist top real estate producers in not only beating the competition but also providing lasting estates for their future.  Systems are his passion.

Walter has been buying or selling real estate for the past 35 years.  It took a long time for Walter to find balance, but today, he runs a successful coaching and training business.  He enjoys life in “small town America” with his wonderful wife and two darling daughters.

Many speakers and trainers have never been involved in real estate brokerage aspects and none have ever been involved to Walter’s extent.  If you would like to know more about Walter, please visit www.waltersanford.com.  You’ll find more information about how to hire Walter as a speaker or coach and how to obtain his ground-breaking products for your library.  Walter can also be reached at 800.792.5837 or walter@waltersanford.com.

Question:

Hey, Wally!  I know the “old stuff” still works, but can you give me some new twists to keep things exciting for me?

Name Withheld

Answer:

Sure, pal — let’s “do the twist to the oldies”!

Being involved with the most profitable systems in real estate, we are always adding updates and twists as technology develops.  It still makes the most sense to center on listings.  Go after the people most likely to list using the least expensive and least time-consuming methods.

Open Houses:

Try to do only one since they are not the most profitable use of your time.  Make that ONE open house during the first week of the listing and hopefully before it hits the MLS.  Capture those nosey sellers and all the buyers who are looking in that neighborhood.  Give your best effort in capturing both ends of the transaction.  Get the open house signs out for a few days with a QR code to the tour.  Cut the time down to an hour.  It makes you look different.  Send out 200 just listed/open house cards to the neighborhood and follow up with a call.  Yes, this process takes longer.  If it does not sell, it is obvious that open houses do not work, and you will be able to keep the seller off your back while you do what sells homes…obtaining the right price.

Postcards:

People only care about “just solds” with QR codes.  Cut out the “just listed” unless you are working the above system.  Tell the receiver how the property sold, and tell them why this process is different from the other agents in your area.  If you don’t have enough just solds, then let them know about the solds that show up in the county records and let them know that part of your job is to stay in tune with the sold activity.  Make your name and the word “SOLD” in big, red lettering on the card!

Direct Mail:

This method does still work on the best demographics.  Add value and a personal signature on your own letterhead in a window envelope.  If you own my letters book, this process will be faster for you since you have over 400 letters to choose from!  Send a letter that will direct them a specific portion of your website.  For example, send a letter to the for sale by owners.  Let them know how you can work together without necessarily listing their home.  You can help them with a lender; help them with the buyer who needs to sell their home to buy the FSBO’s home; help them with a referral to the area where they are moving; and help them as a buyer in your town with the exclusive “Secret Property System” that really excites them.  With all that help and counseling for the FSBO – if their home doesn’t sell, you’ve already begun to make a value-filled proposition to them!

Cold Calls:

Cold calls are dead.  Call your database, expireds, FSBOs, out-of-state owners, and assisted living centers.  Monitor your “Do Not Call” responsibilities and leave them a message (live or on voice mail) with a web destination for them to visit on your site.  Too many agents are scared to death to make phone calls!  I have a book of scripts and it even includes letters you can send ahead of the call to “plow the road” and make it easier.

Networking:

Parties, phone calls, newspaper articles, referral groups, buyer seminars – I can list dozens more.  Every top agent will step out of his or her comfort zone.  Top agents do not depend on Facebook for their marketing.

Referrals:

There are speakers who do nothing but teach this system.  Remember what the attorney’s know — ask for your money on the day you win the case.  Have a checklist to ask for more business from family, friends and co-workers at the listing, at the first showing, on contract acceptance, on loan approval, and at close.  Do a job that merits a referral.

An oil and gas lease lottery millionaire by age 16, Walter S. Sanford was in massive debt by the time he was 22.  Taking his winnings, he invested in over 400 units and found that high leverage real estate can be detrimental to your financial health.

Obtaining his real estate brokerage license during the 80s, Walter went on to become what some believe to be one of the top agents in North America.  He built his career on systems that are in demand by virtually every major franchise and top producing agent in the world.  1995 was Walter’s best year, in the midst of a real estate depression in Southern California, where he personally closed 316 transactions.

Walter Sanford now coaches some of the top agents and travels internationally to deliver his seminars based upon systems with velocity increased by technology.  He is the author of 10 ground-breaking books and software that assist top real estate producers in not only beating the competition but also providing lasting estates for their future.  Systems are his passion.

Walter has been buying or selling real estate for the past 35 years.  It took a long time for Walter to find balance, but today, he runs a successful coaching and training business.  He enjoys life in “small town America” with his wonderful wife and two darling daughters.

Many speakers and trainers have never been involved in real estate brokerage aspects and none have ever been involved to Walter’s extent.  If you would like to know more about Walter, please visit www.waltersanford.com.  You’ll find more information about how to hire Walter as a speaker or coach and how to obtain his ground-breaking products for your library.  Walter can also be reached at 800.792.5837 or walter@waltersanford.com.

Have a mixed up seller?  Maybe this exchange will help you in dealing with your challenge, too.

Question:

Hi, Walter.  Any suggestions as to how I respond to this e-mail?

Hello, Alex;

Three times in the last year and a half (after each of my 6 month listings have expired) you have mailed me post cards requesting to list my house.  Each explains your success in selling homes in this market, your goals to get the property sold, the best dollar for me  and least amount of marketing time.

Since my home has been on the ‘shared commission’ multiple listing for a year and a half, in all seriousness I would like to ask you one question; why have you not sold it already?  I might be interested in using your services for the next six months and I am serious – but I need to know why you haven’t shown it or sold it, as this is extremely important for me if I were to choose you currently to list my home.

Please inform me of your explanation and interest in listing my home and what you could do differently, and I mean differently – as in actually going out and out of your way (like knocking on doors) to find a buyer.

Hope to hear from you soon.

(Name Withheld)

Thanks!

Alex

Answer:

C’mon, you were trained by the best and you should know how to counter that argument!  If you’re still having trouble, here’s my best suggestion:

Hello, (Name).  I am the top guy around here because I spend more money, time, and resources on my client’s properties than any other agent.  However, it would be for naught unless I spend much time determining your needs then customizing a plan to achieve your needs and goals.

Now to your question of selling the home — I cannot perform unless you are involved.  I need to know more about your home, your goals, and whether you are educated about this market.  I also need to know your timetable, your equity position, and the positions of any other decision makers.  It is best that we meet in person.  Also important is that my sellers have opened their homes and lives to me.  My sellers have agreed to pay me if my team of over 1700 real estate agents are successful.  Unfortunately at this time, only your agent has agreed to split their commission if I take one of my buyers who are seeing my seller’s homes and I direct them to see your home.  This means that your property has to be farther down on the list and does not benefit from any of my marketing directly to other agents or to the buyers of the world.

We need to talk and get you on a plan that has worked over and over again since this market became challenging.  Please let me know if Thursday at 6PM will be good for us to meet.

An oil and gas lease lottery millionaire by age 16, Walter S. Sanford was in massive debt by the time he was 22.  Taking his winnings, he invested in over 400 units and found that high leverage real estate can be detrimental to your financial health.

Obtaining his real estate brokerage license during the 80s, Walter went on to become what some believe to be one of the top agents in North America.  He built his career on systems that are in demand by virtually ever major franchise and top producing agent in the world.  1995 was Walter’s best year, in the midst of a real estate depression in Southern California, where he personally closed 316 transactions.

Walter Sanford now coaches some of the top agents and travels internationally to deliver his seminars based upon systems with velocity increased by technology.  He is the author of 10 ground-breaking books and software that assist top real estate producers in not only beating the competition but also providing lasting estates for their future.  Systems are his passion.

Walter has been buying or selling real estate for the past 35 years.  It took a long time for Walter to find balance, but today, he runs a successful coaching and training business.  He enjoys life in “small town America” with his wonderful wife and two darling daughters.

Many speakers and trainers have never been involved in real estate brokerage aspects and none have ever been involved to Walter’s extent.  If you would like to know more about Walter, please visit www.waltersanford.com.  You’ll find more information about how to hire Walter as a speaker or coach and how to obtain his ground-breaking products for your library.  Walter can also be reached at 800.792.5837 or walter@waltersanford.com.