The Weichert Value Story Fast Track Facilitator Notes Session 3: The Weichert Value Story The Weichert Value Story Weichert University October 2007 1

Let’s Get Started Success Stories Announcements/Updates Today’s Agenda Fast Track Facilitator Notes Session 3: The Weichert Value Story Let’s Get Started Success Stories Activities Board Success Story Board Call Session Results Announcements/Updates Today’s Agenda Weichert University October 2007 2

Fast Track Facilitator Notes Session 3: The Weichert Value Story Objectives Identify and practice key sales techniques that will enable you to demonstrate value first. Learn all components of the Weichert Listing Process. Observe and practice using the Getting to Know You and Your Home tool. Observe a demonstration of the Weichert Listing Presentation. Differentiate between a Comparative Market Analysis (CMA) and Weichert’s Price Trend Analysis (PTA). Weichert University October 2007 3

Let’s take a closer look... Fast Track Facilitator Notes Session 3: The Weichert Value Story We have a sales process that DEFINES Your Value and the value Weichert provides your clients. There are three tools we use in the Listing Process to demonstrate our value. Let’s take a closer look... Weichert University October 2007 4

Fast Track Facilitator Notes Session 3: The Weichert Value Story Prepare Getting to Know You – You need to show the seller you’ve got heart . This tool gives you the chance to do just that - it’s all about the relationship. Need the new image for getting to know you and your situation Weichert University October 2007 5

Fast Track Facilitator Notes Session 3: The Weichert Value Story Present What do you need for the Listing Presentation? The Cowardly Lion’s courage and conviction to tell the story and share the value – even in the face of “Will you do it for 4%?” Weichert University October 2007 6

Fast Track Facilitator Notes Session 3: The Weichert Value Story Price What do you need with the Price Trend Analysis? Analytical skills and intellect come into play here. Weichert University October 2007 7

A Value Story What do we mean when we say “value story?” Fast Track Facilitator Notes Session 3: The Weichert Value Story A Value Story What do we mean when we say “value story?” A value story is created to demonstrate why a customer should buy your product or service rather than a competitor’s. The Weichert value story is depicted in our Listing Process to help you justify your worth – full commission – to your customers. Weichert University October 2007 8

Why is the Value Story so Critical? Fast Track Facilitator Notes Session 3: The Weichert Value Story Why is the Value Story so Critical? You distinguish yourself from the competition. (The competition WANTS to be the same so the only difference becomes commission) Helps you overcome the brokerage fee issue. Seller knows what to expect because you share EVERYTHING you’ll do to sell their home. Sell Value FIRST. Defer the commission conversation so you can share the full Value Story. Weichert University October 2007 9

Fast Track Facilitator Notes Session 3: The Weichert Value Story Why We’re Different… The Weichert Listing Process is just that, a PROCESS Allows time to build rapport with your client Offers a personalized, customized presentation to your client Demonstrates the value of working with YOU and with WEICHERT Weichert University October 2007 10

Fast Track Facilitator Notes Session 3: The Weichert Value Story Weichert University October 2007 11

Key Sales Techniques Differentiate Yourself Create Value Statements Fast Track Facilitator Notes Session 3: The Weichert Value Story Key Sales Techniques Differentiate Yourself Create Value Statements Getting to Yes (Closing) Engage Defer Weichert University October 2007 12

Sales Technique: Differentiate Yourself Fast Track Facilitator Notes Session 3: The Weichert Value Story Sales Technique: Differentiate Yourself Our Approach: “I’ve prepared a customized Marketing Plan for you.” “Weichert Lead Network is an exclusive system we’ve developed . . . “ “Our Price trend Analysis is unique in the industry. Let me show you . . .” “At Weichert we do things differently. Here’s something you may find of interest . . .” “I will also offer you this exclusive weekly internet listing report.” Review page 3-2 and Complete the exercise at bottom of page. Weichert University October 2007 13

Value Statements (Features & Benefits) Fast Track Facilitator Notes Session 3: The Weichert Value Story Value Statements (Features & Benefits) Feature: A prominent characteristic of a product or service Benefit: What the customer gets from the product - convenience, comfort, time, money, stress-reduction, etc. Salespeople who excel describe a feature of a product or service and then provide the benefit the seller will derive from that feature. Weichert University October 2007 14

Creating Value Statements Fast Track Facilitator Notes Session 3: The Weichert Value Story Creating Value Statements As you describe your capability to your clients, think VALUE STATEMENTS: Statements that contain a feature or fact Statements that contain a benefit or meaning to the client Use bridges to connect the two. This means that . . . What this means for you is . . . With this you get . . . Because of this, you will be able to . . . Weichert University October 2007 15

Example Value Statement #1 Fast Track Facilitator Notes Session 3: The Weichert Value Story Example Value Statement #1 Bridge Feature Benefit Changing the F/B This building has very strong financials. Because of this … You are less likely to incur large assessments in the future. Weichert University October 2007 16

Example Value Statement #2 Fast Track Facilitator Notes Session 3: The Weichert Value Story Example Value Statement #2 Bridge Feature Benefit When buyers search online, we have the ability to directly connect them to a sales associate like me. This means . . . Our response time to interested buyers is minutes compared to days, getting more buyers previewing your property sooner. Weichert University October 2007 17

Example Value Statement #3 Fast Track Facilitator Notes Session 3: The Weichert Value Story Example Value Statement #3 Bridge Feature Benefit Changed the benefit We mail within the building and the surrounding ones to inform people that your property is available and to invite them in. Let me show you the quality of our cards. That’s why . . . Your neighbors are one of the greatest resources to market your property. Weichert University October 2007 18

Example Value Statement #4 Fast Track Facilitator Notes Session 3: The Weichert Value Story Example Value Statement #4 Bridge Feature Benefit I will bring my colleagues in to walk them through your residence. By doing this . . . They will be in a better position to describe and market your residence to all their buyers. Weichert University October 2007 19

Example Value Statement #5 Fast Track Facilitator Notes Session 3: The Weichert Value Story Example Value Statement #5 Bridge Feature Benefit I will send you this weekly report, summarizing the activity your listing receives on these top real estate sites By doing this . . . We will be current with any changes in the market so we can adjust our plan, if necessary, and stay ahead of the trends. Weichert University October 2007 20

Test Your Value Statements Fast Track Facilitator Notes Session 3: The Weichert Value Story Test Your Value Statements When you make a statement, ask yourself “so what?” If you can’t answer the “so what” for the customer, you may be missing the value. Weichert University October 2007 21

Closing and Getting to Yes! Fast Track Facilitator Notes Session 3: The Weichert Value Story Closing and Getting to Yes! What you can say to close: “Is this a service you would want?” “Would you find this of value?” “Does this work for you?” “Is this helpful?” What you can do to close: Schedule the first Open House Invite Seller to edit the property highlight sheet Ask Seller to select their favorite pictures for the online ad Confirm Seller’s Email address to send Listing Click Report Weichert University October 2007 22

Sales Technique – Engage! Fast Track Facilitator Notes Session 3: The Weichert Value Story Sales Technique – Engage! Ask the sellers questions to engage and involve them in the selling process. They will often sell themselves. Ask. Listen. Summarize. Bring the seller’s wants and needs into the value story – find ways to personalize the story to reflect what they’re looking for. Weichert University October 2007 23

Examples of the Engage! Technique Fast Track Facilitator Notes Session 3: The Weichert Value Story Examples of the Engage! Technique “You told me that ___ was important to you, right? Here’s where we address this.” “What’s most important to you in this move you’re making?” “Does it surprise you to know that the NY Times online subscriptions outnumber the print subscriptions?” Weichert University October 2007 24

But what if commission comes up? Fast Track Facilitator Notes Session 3: The Weichert Value Story But what if commission comes up? The key is to sell the value story FIRST. If you don’t, what leverage will you have? We’ll be discussing and practicing an important technique in this program . . . The Defer Technique Weichert University October 2007 25

Fast Track Facilitator Notes Session 3: The Weichert Value Story The Defer Technique Seller: “Before you come over, I just want you to know that Brand X will do it for 5% so if you’re higher, don’t bother.” You: “I understand. We can discuss that when we meet on Thursday. We’re set for 4 o’clock, right?” Weichert University October 2007 26

Keep Deferring Seller: “So . . . Will you take it for 5%?” Fast Track Facilitator Notes Session 3: The Weichert Value Story Keep Deferring Seller: “So . . . Will you take it for 5%?” You: “We can discuss commission in a moment. Let me review what’s happening in the market. I’ve prepared a Price Trend Analysis to help you in making a decision on price.” Weichert University October 2007 27

The Name of the Game Listings are the inventory of Real Estate Fast Track Facilitator Notes Session 3: The Weichert Value Story The Name of the Game Listings are the inventory of Real Estate Every business needs inventory to succeed Listings give the company and YOU control of the business Listings promote the Weichert Brand Listings = $$$$$$$$$$$ Weichert University October 2007 28

Demonstrate the Weichert Difference Fast Track Facilitator Notes Session 3: The Weichert Value Story Demonstrate the Weichert Difference GTKYS still, the other image cant change b/c it’s all one larger one Prepare Present Price Weichert University October 2007 29

Step 1: Getting to Know You and Your Home Fast Track Facilitator Notes Session 3: The Weichert Value Story Step 1: Getting to Know You and Your Home Sellers Think: Do I like you? Do I trust you? GTKYS image You’re using the “Getting to Know You” tool to: Build rapport Demonstrate your professionalism Show sincere interest in the sellers Learn about the sellers and their property Separate yourself from the competition Weichert University October 2007 30

First Visit: Getting to Know You Fast Track Facilitator Notes Session 3: The Weichert Value Story First Visit: Getting to Know You Establish rapport Take the lead and set the agenda Uncover needs and priorities Get to know the residence Close and confirm 2nd appointment Review Getting Know You Checklist on page 3-10 Review page 3-11 Weichert University October 2007 31

Practice: Get to Know the “Getting to Know You and Your Home” Tool Fast Track Facilitator Notes Session 3: The Weichert Value Story Practice: Get to Know the “Getting to Know You and Your Home” Tool Break into pairs Practice using the guide to uncover the seller’s concerns and priorities Role-play for 5 minutes Debrief Weichert University October 2007 32

Presenting the “Weichert Brochure” During Your First Visit Fast Track Facilitator Notes Session 3: The Weichert Value Story Presenting the “Weichert Brochure” During Your First Visit “Thank you for allowing me to tour your residence. Here’s a brochure that I think you will find helpful as you think about what’s involved in selling your property. We’ve anticipated some questions you might have and provided answers here . . . Here’s the Seller’s section . . .” Just covered logo Weichert University October 2007 33

Preparations for the Next Appointment Fast Track Facilitator Notes Session 3: The Weichert Value Story Sales Associate: Complete a Price Trend Analysis Organize all materials Practice, Practice, Practice!!! Using the Marketing Resouce Center: Create customized portfolio pages Getting to Know You Brochure Photos of the property Review page 3-13 Weichert University October 2007 34

Step 2: Share the Weichert Value Story Fast Track Facilitator Notes Session 3: The Weichert Value Story Step 2: Share the Weichert Value Story Sellers Think: Are you competent? Can you represent me? Can you bring me buyers? Will you work hard for me? That image You’re using the Weichert Listing Presentation to: Demonstrate value Show you have a plan Express your commitment Gain their confidence Weichert University October 2007 35

The Weichert Difference . . . Six Distinct Advantages Fast Track Facilitator Notes Session 3: The Weichert Value Story The Weichert Difference . . . Six Distinct Advantages In our MRC, it’s still six advantages…what are we doing with Gold services? Weichert University October 2007 36

Second Visit: The Listing Presentation Fast Track Facilitator Notes Session 3: The Weichert Value Story Second Visit: The Listing Presentation Continue to build the relationship Open and preparation Uncover needs and engage the client Provide value and service Close Review Weichert Listing Presentation Checklist on page 3-15 Review page 3-16 Weichert University October 2007 37

Demonstration of the Listing Presentation Fast Track Facilitator Notes Session 3: The Weichert Value Story Demonstration of the Listing Presentation Facilitator will conduct a live demonstration of the entire Weichert Listing Presentation Observe and follow the Weichert Listing Checklist Q&A to follow Weichert University October 2007 38

Step 3: Present the Price Trend Analysis Fast Track Facilitator Notes Session 3: The Weichert Value Story Step 3: Present the Price Trend Analysis Sellers Think: Do you know the local market? Can you get me the best price for my residence? You’re using the Price Trend Analysis to: Go beyond showing MLS sheets and “comps” Present a visual summary of the data Help sellers see the trends in their local market Demonstrate your expertise in real estate, pricing and knowledge of inventory Weichert University October 2007 39

Fast Track Facilitator Notes Session 3: The Weichert Value Story Next Steps Have listing paperwork already filled out and ready to fill-in the necessary blanks and get it signed. Schedule the first few Open Houses. Discuss any additional questions and necessary information. Review “Leave Behind” and other materials you have for them at this time. Schedule and confirm follow up appointments. Weichert University October 2007 40

Listing Presentation Practice Opportunities Fast Track Facilitator Notes Session 3: The Weichert Value Story Listing Presentation Practice Opportunities In-Class with peers next week Role play in groups of three – each will have turn presenting a portion of the presentation Observe and give each other feedback using the checklist Individual Appointment in week three Scheduled individual appointments Deliver the entire presentation Manager to observe and provide feedback Page 3-21 Weichert University October 2007 41

Preparing for the Practice Sessions Fast Track Facilitator Notes Session 3: The Weichert Value Story Preparing for the Practice Sessions Study dialogue Weichert Value Story – The Listing Process, Dialogue and Tips Guide Take online courses Weichert University October 2007 42

Taking Care of Business Fast Track Facilitator Notes Session 3: The Weichert Value Story Taking Care of Business Weichert University Related on-line courses on WeichertOne.com The 1st Step in the Listing Process: Getting to Know You Weichert Listing Presentation: Dialogue and Tips Weichert Listing Presentation: Effective Closing Techniques WeichertOne Sales Associate Resources Weichert University October 2007 43

Taking Care of Business Fast Track Facilitator Notes Session 3: The Weichert Value Story Taking Care of Business WeichertPRO.com - Related Online Training Navigating the Contact Management Page Today’s Work Assignments Tomorrow’s Agenda Have a Productive and Successful Day! Weichert University October 2007 44