Lead Generation 36:12:3 Power Session 8: FSBOs and Expired Listings

Lead Generation 36:12:3 Slide 2 In this Power Session … 1)Introduction 2)Who They Are 3)A Limiting Belief 4)The Opportunity 5)Steps for Working with FSBOs 6)Steps for Working with Expired/Withdrawn Listings 7)Putting It All Together Page 1 Power Session 8

Lead Generation 36:12:3 Slide 3 Ground Rules 1)Arrive on time. 2)Form groups quickly. 3)Limit side conversations. 4)Turn off cell phones and pagers. 5)Be comfortable. 6)Respect time. 7)Respect each other. 8)Help each other learn. 9)Respect confidentiality. 10)Have fun! Page 3 Introduction Power Session 8

Lead Generation 36:12:3 Slide 4 Page 4 Introduction How You Will Learn Learning Methods 1)Manual Models/Systems Exercises/Discussion Stories 2)Classroom PowerPoint slides KWConnect videos Classmates/Instructor Power Session 8 (continued)

Lead Generation 36:12:3 Slide 5 Page 4 Introduction How You Will Learn Accountability Methods 1)Lead Generation Action Plan 2)Accountability Partner/Program Power Session 8 1. Set Goals 2. Do Key Activities 3. Measure Results 4. Evaluate Process 5. Make Adjustments Accountability Feedback Loop

Lead Generation 36:12:3 Slide 6 EXERCISE Where You Are Today 1)Lead Generation Activities 2)My aha’s from these activities 3)The most difficult part of these activities 4)What I will do differently in the next 24 hours Time: 10 minutes Page 5 Introduction Power Session 8

Lead Generation 36:12:3 Slide 7 Why You Are Here Learn how to take advantage of a tremendous opportunity! Page 6-7 Introduction Power Session 8 You are here!

Lead Generation 36:12:3 Slide 8 Introduction What Will Make This a Great Training Experience Page 8 Power Session 8

Lead Generation 36:12:3 Slide 9 Who They Are Page 11 Power Session 8 Most Important Reason for Selling Home as FSBO Did not want to pay commission51% Sold to relative, friend, or neighbor22% Buyer contacted seller directly12% Did not want to deal with an agent8% Agent was unable to sell home3% Seller has real estate license2% Could not find suitable agent1% Other2% Source: “2006 NAR Profile of Home Buyers and Sellers”

Lead Generation 36:12:3 Slide 10 Page 14 Who They Are Expired and Withdrawn Listings What are the main reasons houses do not sell? Power Session 8

Lead Generation 36:12:3 Slide 11 Page 14 Who They Are Expired and Withdrawn Listings Main Reasons Houses Do Not Sell 1)Overpriced relative to the existing market 2)In poor condition 3)Not marketed well Power Session 8

Lead Generation 36:12:3 Slide 12 Page 15 Who They Are Expired and Withdrawn Listings Do Not Call Lists (federal and state) Power Session 8

Lead Generation 36:12:3 Slide 13 Page 17 A Limiting Belief Power Session 8 Myth You can only succeed with FSBOs and expired/withdrawn listings by being aggressive and direct. You can win with FSBOs and expired/withdrawn listings by coming from contribution, establishing trust, and staying in touch. Truth

Lead Generation 36:12:3 Slide 14 6 Ways to Win with FSBOs and Expireds 1)Get the listing. 2)Find a buyer for the house. 3)Help the seller buy a new home nearby. 4)Refer the seller to another agent (out-of-town moves). 5)Meet potential customers by offering to host open houses. 6)Help the seller write up business if the seller finds a buyer (for a negotiated commission). The Opportunity Page 21 Power Session 8

Lead Generation 36:12:3 Slide 15 Direct Approach Dianna Kokoszka Be straightforward and ask for the business Indirect Approach Jean Grubb Let the seller self-discover the need for your services The Opportunity Page Power Session 8

Lead Generation 36:12:3 Slide 16 Mindset Come from Contribution 1)Ask, “What can I do to help you today?” 2)Offer your expertise. 3)Offer services. The Opportunity Power Session 8 Page 27

Lead Generation 36:12:3 Slide 17 Prepare 1)Know what you are going to say. 2)Prepare materials to give them. 3)Create an 8 x 8 customized for FSBOs. 4)Set your goals. 5)Find them. 6)Organize your information on each listing. Steps for Working with FSBOs Power Session 8 Page 29

Lead Generation 36:12:3 Slide 18 Prepare Create an 8 x 8 Customized for FSBOs Touch 1Preview property. Leave FSBO Packet. Touches 2–3Send postcard or letter each week. Touch 4Make a telephone call. Tourhes 5–7Send different postcards or letters. Touch 8Make a telephone call. Steps for Working with FSBOs Power Session 8 Page 32

Lead Generation 36:12:3 Slide 19 Prepare Gene Rivers’ postcard subjects 1)Price5) Showing 2)Condition6) Price Reduction 3)Competition7) Marketing for Just Reduced 4)Marketing8) What Do I Do Now? Steps for Working with FSBOs Power Session 8 Page 33

Lead Generation 36:12:3 Slide 20 EXERCISE Write questions, statements, information of value, or scripts you can use for eight FSBO contacts. Time: 10 minutes Page 34 Steps for Working with FSBOs Power Session 8

Lead Generation 36:12:3 Slide 21 Take Action Practice scripts and handling objections so you’ll have confidence in yourself and you’ll know what to say. Steps for Working with FSBOs Power Session 8 Page 36

Lead Generation 36:12:3 Slide 22 Follow Up 1)Put leads in your database. 2)Implement an 8 x 8 marketing action plan. 3)Send a thank-you for referrals. 4)Follow up until they list or sell. Steps for Working with FSBOs Power Session 8 Page 46

Lead Generation 36:12:3 Slide 23 Prepare 1)Know what you are going to say. 2)Prepare materials to give them. 3)Create an 8 x 8 customized for expired listings. 4)Set your goals. 5)Find them. 6)Check the Do Not Call list. 7)Organize your information on each listing. Steps for Working with Expireds Power Session 8 Page 47

Lead Generation 36:12:3 Slide 24 Prepare Create an 8 x 8 customized for expireds Day 1Call and deliver an expired packet. Day 2Make a telephone call. Day 3Send a postcard or letter. Day 4Make a telephone call. Day 5Send a marketing statistic or special report. Day 6Make a telephone call. Day 7Promote your marketing plan. Day 8Make a telephone call. Steps for Working with Expireds Power Session 8 Page 49

Lead Generation 36:12:3 Slide 25 Take Action Practice scripts and handling objections so you’ll have confidence in yourself and you’ll know what to say. Steps for Working with Expireds Power Session 8 Page 50

Lead Generation 36:12:3 Slide 26 Putting It All Together EXERCISE Call FSBO and Expired Listings 1)Instructor demonstrates calls. 2)Agents make calls. Time: 30 minutes Page 57 Power Session 8

Lead Generation 36:12:3 Slide 27 Power Session Aha’s What did you learn and what are you going to implement or do differently? Putting It All Together Page 57 Power Session 8

Lead Generation 36:12:3 Slide 28 Your Lead Generation Action Plan 1.Think about the role prospecting to FSBOs and expireds will play in your prospecting activities. 2.Enter your current and future goals on the worksheet in your manual. Putting It All Together Page Power Session 8

Lead Generation 36:12:3 Slide 29 Putting It All Together Page Power Session 8 The 3-Hour Habit 1)Time block 3 hours every workday before noon. 2)No skipping. If you must erase, then you must replace. 3)Allow no interruptions (unless they truly are emergencies).

Lead Generation 36:12:3 Slide 30 Thank You for Being Here! Don’t forget your evaluations!