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Listing Presentation Styles April 10th, 2014 | Posted in General Real Estate

How do the pros do it — take listings quickly and have high “sign-through” rates? There are so many strange opinions, but we’re sticking to the facts. We only want to show the procedures that lead to a fast turn-around and terms that are saleable with a happy client.

1. In making the appointment, the only items open for discussion are the following:

A. Why they are selling

B. How they heard of you

C. What do they think is the price

D. When they want to start marketing

E. Who else they are interviewing to sell their home

F. Ask to be the last one interviewed

G. Ask what is their criteria for hiring their next agent

H. Ask that all decision makers be present

I. Ask for an agreeable location, date, and time for the meeting

All other items (like commission and marketing procedures) should be left for the presentation.

2. Be ready to make the presentation in one visit. If you have to go back and figure out the price, you don’t know your market. Take enough comps with you to determine the price.

3. With much of your marketing having to do with online services such as Realtor.com, Trulia.com, Zillow.com, and yoursite.com — it would be smart to be able to show them that information. Crowding around your laptop or tablet does not work well. Having two screens, a projector, or meeting at your office where they can see the “operation” and have their own screen is the future.

4. The agent who wins is the agent who knows the most about the seller. Thirty questions before a meeting is not too many. A few of these questions are mentioned in point number one above.

5. Third-party endorsements are wonderful. My coaching clients’ lenders get the answers from the questions (like the ones in point number one) emailed to them. Then the lender emails the potential seller with an endorsement of the agent and how they participate on the “team” to achieve the client’s goals.

6. Send pre-list documents that are full of value and easy to complete prior to a presentation. These documents can be on your website then obtained with a special code. They can also be emailed or mailed, too. These forms that ask the seller to outline what they love about their home and choosing from a list of anxiety causing situations that they want to avoid. These documents show that you care plus you will learn even more about the seller (read point number four again).

7. Close with these points. (A.) Show them how you take the features and benefits of their home to the world. (B.) Solve any anxiety they may have. (C.) Meet their criteria for hiring an agent. (D.) Ask to be the one to solve their goal of (core motivation for sale).

8. Don’t leave until they sign or tell you why they are not signing.

9. Have options for them. If they want to paint and clean, let them know that you can install a custom sign that promotes a showing date. Interested parties would call you to be placed on the list to see the property at the allotted time. They have to sign a marketing agreement for this to happen.

10. Stay longer to fight for your commission, if needed. Hint: Most likely, it is not the commission that they are worried about so how do you increase net proceeds?

11. Know who you are competing against. Have their stats and be the last presenter.

12. Have solutions for their needs. If they are going to buy, bring the IDX submission sheet. If they are going to move, have the agent you want them to use. If they need service vendors, have them be a phone call away.

13. Don’t take an overpriced listing in a non-appreciating market with an under-motivated seller. It is okay to take an overpriced listing (10% or less above market), if the client has a real motivation to move.

14. Understand that buying before selling seldom costs your client less.

15. If you did not get the listing signed at the first meeting, make another appointment. Have a system where you call them once a week with something of value. Do this until they ask you to stop. If the value is good, they won’t ask you to stop, unless they weren’t really sellers in the first place.

16. Set up everything to maximize your chances of a double-ended transaction.

17. If another agent comes in behind you and you find out about it at the first appointment, make another appointment before they make a final decision.

18. If the “other decision maker” does not show, try to arrange a conference call. If the other decision maker is not available for a call, make another appointment.

19. Dress to look the part.

20. Remember, you cannot lose things you did not have.

When you master these suggestions, you will be able to –

A. Learn more about the seller’s needs

B. Differentiate yourself from the competition

C. Make a faster presentation that will be fine-tuned to achieve the seller’s goals

D. Achieve a one-stop signature more often.

It seems that you’ve enjoyed the “freebies” that we’ve provided recently. Email us with the name and contact information of someone who hires speakers for real estate events in your area; should your lead turn into an event this year or the next, we will send you $1000 in the best real estate products made for top producing, mega-agents. Be sure to include your full contact information, too so we’ll know where to send the systems when the time comes!

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.

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Do You Plan for Trends? March 10th, 2014 | Posted in General Real Estate

In 2005, we, the real estate community, saw interest only loans with no money down. We knew the banks were going to own a lot of property. I started systems that built relationships with banks so our clients would be in first place when short sale and REO listings would be considered.

Now, the market is hot in some areas and getting hotter in others. One of the many trends in this environment is the growing “for sale by owner” inventory. The FSBOs still don’t have a ton of equity but are sure they don’t need a REALTOR®. Each of my coaching clients is great in re-educating FSBOs on the fact that they probably can net the same with one of our customized marketing plans, but the indoctrination always works better with a relationship.

Once a week, my clients absorb the new FSBOs from every local source. A faster way to accumulate that same information is to subscribe to Landvoices’ fine product. They do a great job of finding every FSBO in your area and delivering it to your inbox with all pertinent information. Call them at 888.678.0905. Be sure to tell them you got their name from me for a special discount.

The first week, they call and explain that they show their buyers “secret property” that other agents do not show by using a buyer-brokerage agreement. They ask the FSBO seller to help fill-in their information sheet with details not provided by the FSBO’s ad or Landvoice. They also ask questions about motivation and expected closing dates. The FSBO might ask about commission, which is easily explained by the fact that the buyer-brokerage agreement calls for the buyer to pay the commission if the seller does not. The FSBO will, most likely, gleefully help you complete your spreadsheet questions.

Before you get off the phone, let the FSBO know that you will be sending some free value offers and calling to follow up on a weekly basis as you try to match their property to your buyer database. You follow this process for 20 weeks.

The results are four-fold:

You impress your buyers by showing them “secret inventory” (I have 12 other secret property sources)
You increase your chances of a double-ended transaction.
The FSBO may eventually become your listing.
There is less rejection from the FSBO.

This is a true, multiple source of income from one exertion of energy system. It’s what we specialize in at Sanford Systems.

With this system, you have more knowledge about the property and the seller; additionally, you are possibly showing the property. Don’t forget that you are also sending the FSBO value and following up every week so that you do not wear out your welcome. You will even have your lender call with a third-party endorsement and provide more offers of value.

You’ll need the spreadsheet and the 20 weeks of letters/emails for you to customize for your business. We have (nearly) perfected them over the years of using them, but I am sure there are some services that you don’t want to or can’t offer so feel free to customize. Email us with the contact person (and his/her contact information) who is most likely to hire a speaker for a big real estate event in your area. We will send you the spreadsheet and the emails — all for free.

I can’t wait to see you at one of my seminars in your town!

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.

Tags: association of realtors, board of realtors, buyer, for sale by owners, FSBO, fsbos, landvoice, seller
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The Secrets Behind Referral Building by the Top Agents February 11th, 2014 | Posted in General Real Estate

Recently, Bridget McCrea of the Illinois REALTOR® Magazine asked me some questions on how to build a superstar referral system. Below is our communication exchange, and I hope it helps you!

Question One:

Why should today’s real estate agents be thinking about improving their referral systems? Why are referrals such a critical part of their businesses?

Answer One:

Referral and repeat clients are your least expensive buyer and seller leads. Generating a lead from scratch takes more effort, time, and money than the “greased slide” from a happy past client, family member, co-worker, or friend. The acquisition of good leads is the number one difference between great agents with great nets and the rest.

Question Two:

How can an agent go about measuring the success of his or her current referral system?

Answer Two:

They can measure the success by tracing the source of their commission dollars. Prompted by their closing checklist, each of my coaching clients writes down their net commission in a spreadsheet under a column titled “Sphere Database System.” Whether it was a past client, sphere, or referral, the database would get the credit.

Question Three:

What’s the first step that should be taken on this path? What do they need to do first?

Answer Three:

Determine who should go into your database — past clients, family, friends, family of friends, friends of family, non-agent co-workers, out-of-area agents, people with whom you spend money, internet leads with whom you’ve spoken, etc.

Next, gather their pertinent details: correct spelling of name; mailing and situs address; all phone numbers; all email addresses; preferred contact method; their haves and wants; contact history; and personal dates like birthdays, wedding anniversaries, and anniversary of purchase or sale.

Question Four:

What other strategies/steps can an agent take to create a referral system that actually produces business and results for them?

Answer Four:

It builds on my answer to question three. A multi-media system needs to be set up for contact, solicitation, and delivery of value:

Email them every new listing before it hits the MLS as a secret listing that should be forwarded to an interested party in databased client’s lead.
Old-fashioned direct mail on company stationery sent in a window envelope and a hand-signed letter with a personal note. Only do enough every day to get 4 different letters out to the complete database, every year. This would equal the number of working days in a quarter divided into the quantity of contacts in your database.
Friend all people in database in Facebook
Call enough people every day to get through your complete database twice every year.
One fancy, expensive, impressive, and fun event a year where everyone in the database is invited.

Question Five:

Where do agents typically go wrong in this area? What do they need to be doing better and how can they improve?

Answer Five:

Again, referring to an earlier answer, only people that know who you are should be in your database; otherwise, you are wasting resources. Beside adding “bulk” leads instead of quality leads to the database, agents just don’t do the above activities or do them sporadically.

These activities must be time-blocked – a time-block every day for the calls and for the letters. It is just a few calls and letters every day. This is much better than waiting until June to call your entire database plus you just won’t do it that way!

Agents need to stop sending material that says they are “the best.” Send value like information on self-directed IRA’s, invitations to sign up for listing comp services on your IDX, and other unique value propositions.

Question Six:

After following your advice, what benefits can an agent expect? What returns will they see if they take these steps?

Answer Six:

My clients find that their referral/repeat client division is their largest income producing system. Per lead, it is their least expensive system.

If an agent would like a helping hand in setting up their own repeat client and referral generating systems, our coaching program can do just that! These are two (out of over fifty systems) that we get up and running in your first year of coaching!

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.

Tags: board of realtors, board of realtors associations continuing education CE motivational seminars, buyers, real estate coach, real estate speaker, real estate speakers, real estate trainer, referrals, sellers, top agents, top producers
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Need to Be Able to Say “NO” to Bad Business February 7th, 2014 | Posted in General Real Estate, Real Estate

I have the privilege of coaching some great agents. They have enough business so that they can effortlessly say “no” to business that they believe has a small chance of closing.

You are in a contingency business. Your income is contingent on the property closing. Lawyers who work on contingency are very careful in choosing what cases they work, and they get a 33% commission in most cases. Similarly, you need to abide by the rules below…or you will be working too much business that does not close.

Quickly, let’s go over what happens to you when you exert energy on non-closing transactions:

1. You lose your enthusiasm for the business.

2. You are less likely to have time & money for the important things in life.

3. It is time you’ll never get back.

4. You don’t do a very good job on low-closing percentage transactions.

When deciding to take business (a client)….

For buyers:

1. Have questions for them to answer before you meet. Let them know that you can deliver additional properties to see — some “off market” — if they will answer some questions about their needs and goals.

2. Have them pre-approved. Let them know with their pre-approval on lender stationery provides surety of close to a seller, and therefore, gives the buyer negotiating leverage.

3. Have all decision-makers meet when possible.

4. Go over the plan of showing “off market” property. Explain that this is a high-overhead activity and that you would like their loyalty. When the answer is “yes,” have them sign a buyer- brokerage agreement.

5. If they only want to see one property and do not concede to the items above, they are a low-closing percentage client. Refer them by saying, “Okay, (name), if you only want to see the one property at (address), then let me give you to the office specialist in that property. His/her name is (name of a new agent, preferably). Let me connect you with him/her.” Be sure that you’ve previously arranged a referral agreement with this individual.

For sellers:

1. Have questions for them to answer before you meet. Let them know that the more you know about their needs and goals, the better job you can do in customizing the marketing plan to achieve (their core motivation/goal in selling).

2. Make sure they have a motivation that is real enough for them to “jump through the hoops” of a sale. You might have to ask numerous questions about what a sale will do for them.

3. Take the listing, if they have motivation, even if the property is slightly overpriced and ugly.

4. If there is a lack of motivation, BE CAREFUL about taking overpriced properties or properties that don’t show well, since the price doesn’t compensate the buyer for the property deficiencies and there is little chance they will drop without motivation.

5. If the listing is overpriced, their motivation is low, and your warning bells are going off — refer it by saying, “(Name), I understand what you are trying to achieve, but there might be an agent at our office who has had more success in similar situations. Let me connect you with (name).”

The only way you have the ability to refer bad business is to make sure you have the systems to generate consistent, new business. Be proactive about new business so you don’t gum up the works with inventory or buyers that weigh you down.

If you would like our multi-page question lists for buyers and sellers, please reply to this email with the name and contact information of someone who is hiring speakers for real estate events in your area.

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.

Tags: association of realtors, board of realtors, buyer broker agreement, buyers, coaching, real estate coach, real estate speaker, real estate speakers, real estate strategies, real estate trainer, real estate trainers, referral agreement, sellers
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Do You Know How to Write a Goal? January 15th, 2014 | Posted in Other Interests

Maybe you don’t achieve success because you wrote that goal down incorrectly. With everyone telling you to set your goals and to write them down, too — why don’t you get everything you want?

Let’s try something else. Let’s set fewer goals and plan for their completion well by using the following checklist:

1. Exact goal statement:

2. Start Date:

3. End Date:

4. Three ways I can measure progress on my goal:

5. Obstacles to overcome:

6. What sacrifices will be required?

7. What benefits will result?

8. List 10 action steps and dates for implementation:

Action Step Implementation Date

I promise if you have fewer goals that are better planned then you will change your life in 2014!

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.

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Listing Presentation Styles April 10th, 2014 | Posted in General Real Estate

Do You Plan for Trends? March 10th, 2014 | Posted in General Real Estate

The Secrets Behind Referral Building by the Top Agents February 11th, 2014 | Posted in General Real Estate

Need to Be Able to Say “NO” to Bad Business February 7th, 2014 | Posted in General Real Estate, Real Estate

Do You Know How to Write a Goal? January 15th, 2014 | Posted in Other Interests

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