Boost Your Business Price It Right From The Start

Check In What did you do? What happened? What results did you get? What do you think you’ll do next time? Refer to your Sales Planner from last workshop

Meet the Expert Add guest speakers name Use this slide to introduce guest speaker or top producer that will share their success or demonstrate skills. Insert Photo or Delete slide if not needed Meet the Expert Add guest speakers name

Preparing for the List Price Discussion It’s time to discuss List Price! Do your research Know the market inventory Know the market activity Use the PTA and PTA calculator to establish the price range Have a marketing strategy in place

The Price Is Right, Or Is It? “So, what is my house worth?”

The Seller is impressed with your presentation, understands your reasoning, but wants a higher list price! What now?

Why Does The Seller Want To List For More? My neighbor’s house sold for that price… I need to net $XXX in order to buy my next home… I’ve added improvements to my home, which makes it worth more

Time To Negotiate “Mr. and Mrs. Seller, I have recommended a listing price of $340,000 to $360,000, with $360,000 the highest in the current market conditions. You are asking me to list it at $420,000… Let’s look at three different approaches in negotiating with the seller.

Approach 1: Set Expectations and Get Agreement “Mr. and Mrs. Seller – I will be happy to list your house at $420,000 for three weeks. During that time I will: Hold an Open House with 8 signs Bring my office on tour Give you feedback from the office visit Advertise your home on the Internet Provide all marketing services as outlined If we do not receive any offers after three weeks, then we will need to reassess the list price and make an adjustment.”

Approach 2: Negotiate The List Price With The Commission “Mr. and Mrs. Seller, you are asking me to list your home at $420,000. This will require more aggressive marketing and time to sell given the current market conditions. Therefore, I will be happy to do this for a 7% commission. If we do not receive any offers after three weeks, then we will need to reassess the list price and make an adjustment. At that time I will reduce my commission to 6%.”

Approach 3: Use The PTA To Set Expectations Mr. and Mrs. Seller, as you can see by the Price Trend Analysis, home prices have not fluctuated much. Taking into account the time on market and inventory, it is in your best interest to price your home accordingly. I will list your home for $420,000, and aggressively market it, but if we do not receive any offers after three weeks, then we will need to reassess the list price and make an adjustment.

Fast Track Facilitator Notes Session 2: Getting Started Today’s Call Session Make a minimum of 50 calls from your prepared list - Do Call List, SOI, OH Guest Registers, FSBO or Expireds. Keep track and report progress on the board. Record all leads and appointments made. Utilize Prospect Follow Up sheet to set follow up call appointments. Weichert University October 2007 12

Fast Track Facilitator Notes Session 2: Getting Started Call Session Results How many calls were made in total? (Calculate on flipchart) How many appointments were made? (Calculate on flipchart) What worked well for you today when calling? What would you try differently next time? Weichert University October 2007 13

Grow Your Skills and Business Call until you get 1 appointment – do this 3 times before next session. Goal is to secure 3 appointments. Attend 1 appointment – appointment can be a buyer consultation, listing appointment (1st or 2nd), FSBO, expired or price improvement. Come prepared to make 50 calls at next workshop. Preview homes and take notes on property features. Work an Open House. Follow up with all guests in 24 hours. Take online training – Pricing it Right, The Weichert Listing Presentation: Dialogue and Tips, Overcoming the Common Seller Objections and The Art of Negotiation.

“The path to success is to take massive, determined action. ” “The path to success is to take massive, determined action.” - Anthony Robbins

Sales Planner Add the assignments we just reviewed to your new Sales Planner. Write down what you will commit to do by next session. You have five minutes to complete this. Ask me or a colleague for ideas and help. Distribute blank copies of Sales Planner

Quickest Way to Boost Your Business REMEMBER… Quickest Way to Boost Your Business Aim for an Appointment a Day! Work an Open House every week. Know the inventory! Get Price Improvements on listings 30+DOM. Make 100 iCalls every week. Work FSBO’s and Expireds every week. Follow up! 1=18% 2=34% 3=62% 4=78%

“Success is almost totally dependent upon drive and persistence “Success is almost totally dependent upon drive and persistence. The extra energy required to make another effort or try another approach is the secret of winning.” Denis Waitly Thank You