Week 5: Prospecting For Sale By Owners Value of Prospecting For Sale by Owners o You know they want to sell o In a market slow down, they need us more than ever o Less buyers and more competition o
On the average, sellers’ net 16% more when using an agent* Why? How?
o We attract the prime buyers Who are they? Approaching the For Sale by Owner o
Your goal is to get an appointment for a “substantial” meeting.
o Always have information to give them If you are at the door, it can be an ice breaker If you are calling, it can give you an excuse for “dropping it off” Helps to prove they may not be as prepared to do it themselves Gives you a reason for the contact (remember the 4-step process) What Items Could You Use?
How Would You Know What They Need
Much like prospecting Expireds, you have to ask them open-ended questions. o
Those questions will be part of your prospecting dialogue or talk track.
o You’ll find out where they need help –which tool to offer o Gain valuable knowledge Sample questions Why are you selling? o Helps to determine motivation o If moving out of area, offer referral
Example: We have Century 21 Offices all over the world. If you will give me some additional information about your move, I can refer you to an office there to assist you. It will be like having a friend already in your new area.
How did you arrive at your price? o Rumor mill, what another house sold for, CMA, appraisal? SEE SAMPLE DIALOGUES # 1 and # 2 Below
How familiar are you with prices in this area? o Market knowledge o Offer market information/CMS
Example: I have access to information on all the properties in this area as well as comparable properties for sale now. All of that information will help you determine the best possible price for your property. Why not allow me to view you home, gather some information and do that research for you?
How long have you owned the home? o Let’s you know how up on selling procedures, costs, etc. they may be
Example: Since you purchased the home, real estate procedures and laws may have changed. Why not give me a few minutes of your time to explain selling procedures, laws, costs, and liabilities that you may encounter.
Give them a sample Seller’s Net Sheet What is your time frame for selling? o How motivated are they and where in time line are you? What will it do to your plans if the house doesn’t sell ? o Create the mindset that it may happen without a professional How long have you had your house on the market ? o Helps you determine where they are in their timeline for selling –
the closer the time, the more motivated they may be to list with an agent.
If it is more than what is average for their area, offer that market information
Example: Houses in this area are usually only on the market for ____ days. Of course, those statistics are from the Multiple Listing Service, so they were sold with the benefit of a REALTOR. There are usually only a couple of reasons why a property does not sell. Why don’t I walk through the property with you to see if we can determine why yours isn’t selling?
What kind of activity have you had? o If they have had a lot of activity but no offers, offer to walk through the property with them to see if you can help them determine why
Example: There are usually only a couple of reasons why a property does not sell. Why don’t I walk through the property with you to see if we can determine why yours isn’t selling?
Offer the staging brochure
o If they haven’t had much activity, offer some advertising tips What are your plans after this house is sold? o May be able to help them with the purchase of a new one o
If they have already chosen a property, it increases their motivation so they don’t lose out on it by their house not selling. Target this in conversations with them.
What kind of improvements have you made since you purchased this house? o
Things they may think are valuable – you may have to overcome these in pricing the property.
If you found a buyer, how would you know they are qualified and not lose valuable marketing time while they obtain financing ? o Use Century 21 Mortgage Pre-Approval information If you do find a buyer, who will prepare the contract ? o Offer them a SAMPLE contract – use a generic one from an office supply If you use one of yours, make sure you have broker approval and write SAMPLE across the face of it so it could not be used (liability issues)
What kind of arrangements do you have for showing the property ? o Point out that all prospective buyers are available based on their schedule
Example: Many buyers may not give you a second chance if you are not available on their time frame. Relocation buyers for example, are usually in the area for a only a day or two. Some buyers are very impetuous and will continue looking once they make the commitment. If they move on to the next house on their list and like it, you will have lost them. That’s the advantage of hiring an agent. We can do our job of showing your property while you are working at yours. And when we find an
interested buyer, we are ready to write the offer right then (while they are the most excited).
What is your marketing plan? o Use the Century 21 written marketing plan – make sure you include all the internet sites we use –
Example: Having a marketing plan is critical to the sale of your home. As you can see by our written marketing plan, we have a strategy for getting your property sold by giving it exposure to the most potential buyers. Our plan includes extensive Internet marketing. A recent National Association of REALTOR survey indicates that approximately 86% of all buyers used the Internet in the search of their home. Why not give me a few minutes to show you all the sites we use for reaching over 86% of the potential buyers for your property?
Tip: you should print off the homepage (in color) of every website your listings are entered on. Put them in page protectors and have them with you as a visual of your vast marketing outlets. This Week Wrap-Up o Make your 21 contacts per day (105 for the week) o Make sure you post your activities daily, but not later than_______________ o
Listen to the recorded class “Staying in touch means repeat business”
Create and present your FSBO listing presentation
o Visit 21online.com and determine your â€œDrip Campaignâ€? o Our next meeting is ___________ at _____
Published on Mar 10, 2012
How Would You Know What They Need What Items Could You Use? o Less buyers and more competition Prospecting For Sale By Owners o In a market...