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Sales Training and Technology Management (from an Alaskan Perspective!) International Real Property Foundation Peggy. Sales Training and Technology Management (from an Alaskan Perspective!) International Real Property Foundation Peggy. Ann Mc. Connochie E-mail: Peggy. Ann@ACHConsulting. com © 2008 ACH Consulting

Schedule l. Learning your market l. Finding buyers and sellers l Ethics and continuing Schedule l. Learning your market l. Finding buyers and sellers l Ethics and continuing education l. Technology

It is never too late to be successful! It is never too late to be successful!

LEARNING YOUR MARKET LEARNING YOUR MARKET

Learning your market What you need to know l What is for sale? l Learning your market What you need to know l What is for sale? l How long do properties stay on the market? l What is the relationship between asking price and selling price? l What has the market been like over the last 5 years and how does it compare to this year? What you need to know l l What type of financing is available? What are the rates typically available? What is required for each type of financing? How long does it take to get a loan?

Getting more listings Getting more listings

l. Make direct dollar producing activities, such as listings, your first priority l. Make direct dollar producing activities, such as listings, your first priority

Getting more listings l. The relationship between you and the owner Getting more listings l. The relationship between you and the owner

LISTING: Working for Sellers Finding Potential Sellers 1. 2. 3. 4. 5. 6. 7. LISTING: Working for Sellers Finding Potential Sellers 1. 2. 3. 4. 5. 6. 7. 8. Geographic farming Divorce/marriage Death/illness For-sale-by-owners Expired listings Foreclosure notices Neighbors of new listings Out-of-town owners Advertising for specific properties 10. Moving companies 11. “Furniture for sale” 12. Business transfers 13. Homebuilders 14. Social farming 15. Attorneys/bankers 16. Referrals 9.

Getting more listings l Where do you find people who want to sell? l. Getting more listings l Where do you find people who want to sell? l. Active and l. Passive methods

Getting more listings l Active l. Prospecting: ads in the paper, flyers in the Getting more listings l Active l. Prospecting: ads in the paper, flyers in the grocery store, ads on the internet, signs on the property, etc

Getting more listings l Active l. Farming: neighborhood or professions l“Just Listed” or “Just Getting more listings l Active l. Farming: neighborhood or professions l“Just Listed” or “Just Sold” flyers to the neighborhood,

Getting more listings l Passive: l Blogs l Websites l E-mail newsletters or links Getting more listings l Passive: l Blogs l Websites l E-mail newsletters or links to a newsletter on your website l Past customers and clients l Groups or organizations of which you are a member

Getting more listings l. The important of questioning correctly… Getting more listings l. The important of questioning correctly…

Getting more listings l How many homes have you bought and sold before? What Getting more listings l How many homes have you bought and sold before? What was that selling experience like? When was it? Please, walk me though that process from beginning to end.

Getting more listings l. How did that work for you? (You want to know Getting more listings l. How did that work for you? (You want to know the goods and the bads!)

Getting more listings l Do you know how it works in this market? (Explain Getting more listings l Do you know how it works in this market? (Explain concentrating on what they have told you about their past experiences. If they have never sold a home before, make sure that you go through the process, from beginning to end in a complete, but simplified format)

Getting more listings l What do you want to accomplish in the sale of Getting more listings l What do you want to accomplish in the sale of this property? (It is never just about the price!)

Getting more listings l. Pricing the property with integrity -communication Getting more listings l. Pricing the property with integrity -communication

Getting more listings l Talk to your seller at the time you list the Getting more listings l Talk to your seller at the time you list the property about what the market is really like and the potential, if the property is not sold within the time frame that you discuss, that the price of the property will have to go down.

Getting more listings l. Encourage sellers to set realistic prices by getting them to Getting more listings l. Encourage sellers to set realistic prices by getting them to look at their home from the buyer’s perspective

Getting more listings l. Preparing seller for the process and for offers -communication Getting more listings l. Preparing seller for the process and for offers -communication

Getting more listings l. Getting the property ready to sell -communication Getting more listings l. Getting the property ready to sell -communication

Getting more listings l. Marketing the property -- communication Getting more listings l. Marketing the property -- communication

Marketing 1. 2. 3. 4. 5. 6. 7. Prepare brochure Put sign in yard, Marketing 1. 2. 3. 4. 5. 6. 7. Prepare brochure Put sign in yard, fill brochure box Enlist seller’s help in keeping brochure box full Put key box on front door Give office showing instructions Create advertising: Internet, newspaper, flyers Prepare Property Guide for inside home

Communicate with your seller…even when there’s “nothing” to say! 1. 2. 3. 4. 5. Communicate with your seller…even when there’s “nothing” to say! 1. 2. 3. 4. 5. Tell the seller what you are doing to market the property Collect feedback from showings, tell the seller Contact seller at least once a week Review feedback with seller monthly, discuss possible price change Hold “open” houses

l. Following the accepted offer through closing – your responsibilities and your communication with l. Following the accepted offer through closing – your responsibilities and your communication with the involved parties

Getting more listings l Control your listings! Getting more listings l Control your listings!

FINDING QUALIFIED BUYERS TO REPRESENT FINDING QUALIFIED BUYERS TO REPRESENT

Finding qualified buyers to represent l The relationship between you and the buyer Finding qualified buyers to represent l The relationship between you and the buyer

SELLING: Working for Buyers Finding Potential Buyers 1. 2. 3. 4. 5. Your sellers! SELLING: Working for Buyers Finding Potential Buyers 1. 2. 3. 4. 5. Your sellers! If your sellers are not buying here, refer them to an agent to which they’re moving Geographic farming Social farming Referrals from professionals, other agents, friends, relatives

SELLING: Working for Buyers Finding Potential Buyers 6. Your niche market 7. Home buying SELLING: Working for Buyers Finding Potential Buyers 6. Your niche market 7. Home buying seminars 8. Your web site 9. Divorce/marriage 10. Expanding families 11. “Empty nesters” 12. Just promoted/fired 13. Hold open houses 14. “Opportunity time” 15. ________

Finding qualified buyers to represent l Where to find buyers: l Active l Passive Finding qualified buyers to represent l Where to find buyers: l Active l Passive

Active l Prospecting: ads in the paper, flyers in the grocery store, ads on Active l Prospecting: ads in the paper, flyers in the grocery store, ads on the internet, open houses, calling past customers and clients, etc

Active l Farming: neighborhood or professions l Use specific targeting to reach your prime Active l Farming: neighborhood or professions l Use specific targeting to reach your prime buyers l “Just listed” and “just sold” cards

Passive l Blogs l Websites l E-mail newsletters or links to a newsletter on Passive l Blogs l Websites l E-mail newsletters or links to a newsletter on your website l Past customers and client referrals l Groups or organizations of which you are a member

Finding qualified buyers to represent l Don’t be so anxious to get a prospect Finding qualified buyers to represent l Don’t be so anxious to get a prospect in your car or to meet them at the property!

Finding qualified buyers to represent The importance of proper questioning Finding qualified buyers to represent The importance of proper questioning

Finding qualified buyers to represent l. Do you own a home now? Or, have Finding qualified buyers to represent l. Do you own a home now? Or, have you ever owned a home? If so how many?

Finding qualified buyers to represent l. If you have owned a home/s, what was Finding qualified buyers to represent l. If you have owned a home/s, what was the process like? (Ask them questions so you can understand it from beginning to the end)

Finding qualified buyers to represent l How did that work for you? (You want Finding qualified buyers to represent l How did that work for you? (You want to know the goods and the bads!)

Finding qualified buyers to represent l Do you know how it works here? (Explain Finding qualified buyers to represent l Do you know how it works here? (Explain concentrating on what they have told you about their past experiences. If they have never owned a home before, make sure that you go through the process, from beginning to end in a complete, but in a simplified format)

Finding qualified buyers to represent l. Do you know what our current market is Finding qualified buyers to represent l. Do you know what our current market is like? (Be through, but don't speak jargon!)

Finding qualified buyers to represent l. Helping buyers get qualified – with integrity Finding qualified buyers to represent l. Helping buyers get qualified – with integrity

Finding qualified buyers to represent l. Preparing the buyer for the buying process and Finding qualified buyers to represent l. Preparing the buyer for the buying process and for making offers -communication

Finding qualified buyers to represent l. Getting the buyer ready to buy; viewing properties, Finding qualified buyers to represent l. Getting the buyer ready to buy; viewing properties, comparing properties -communication

Finding qualified buyers to represent l Communication is key Finding qualified buyers to represent l Communication is key

Finding qualified buyers to represent l. The offer process -communication Finding qualified buyers to represent l. The offer process -communication

Finding qualified buyers to represent l. Following the accepted offer through closing – your Finding qualified buyers to represent l. Following the accepted offer through closing – your responsibilities and communication

Finding qualified buyers to represent l Service after the sale -communication Finding qualified buyers to represent l Service after the sale -communication

Selecting and previewing properties 1. 2. 3. 4. Match buyers’ wants and needs with Selecting and previewing properties 1. 2. 3. 4. Match buyers’ wants and needs with currently available properties Preview matches Make appointments to show “best” matches Plan “tour” route

Showing properties l. Location l. Yard or property l. Interior Showing properties l. Location l. Yard or property l. Interior

Let the property sell itself – do not add “fluff!” Let the property sell itself – do not add “fluff!”

Showing properties l. Information with you to take l. Disclosures l. Marketing information l. Showing properties l. Information with you to take l. Disclosures l. Marketing information l. Financial information

Showing properties – buyer clients l l l l Play the “priority” game: keep Showing properties – buyer clients l l l l Play the “priority” game: keep focused on just 2 -3 properties Compare pros/cons of properties Encourage note taking Encourage client opinions Ask probing questions Serve as a “sounding board” Listen carefully

Showing properties – buyer clients and handling their objections l l l l Always Showing properties – buyer clients and handling their objections l l l l Always answer honestly “I don’t know but I’ll find out. ” Restate objection as a question Correct misinformation Ask “why” questions carefully Watch for “buying” signals “Have I answered all your concerns or do you need more information? ”

Showing properties – buyer clients and handling their objections 1. 2. 3. 4. 5. Showing properties – buyer clients and handling their objections 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Listen Listen Listen

Writing and negotiating the contact Writing and negotiating the contact

Essential elements of a contract 1. Competent parties 2. Timely acceptance 3. Unique legal Essential elements of a contract 1. Competent parties 2. Timely acceptance 3. Unique legal description 4. Consideration 5. Mutual consent

Terms and provisions 1. 2. 3. 4. 5. 6. 7. 8. Price Possession Personal Terms and provisions 1. 2. 3. 4. 5. 6. 7. 8. Price Possession Personal property Means of conveyance Prorations of taxes & insurance Closing costs Contingencies Property disclosures

Presenting the offer 1. 2. 3. 4. 5. 6. Provide seller with a complete Presenting the offer 1. 2. 3. 4. 5. 6. Provide seller with a complete “picture” of the buyer Present terms of offer Explain contingencies and special conditions Present buyer’s financial capability Encourage acceptance If seller is unwilling to accept offer as written, negotiate using counterproposals or samples

Due diligence and closing l l l l Coordinate with listing agent Prepare checklist Due diligence and closing l l l l Coordinate with listing agent Prepare checklist of all steps & dates Maintain transaction file of all meetings, correspondence, documents, phone notes Assist your client with timely information, emotional support Communicate regularly Make sure all dates are met Schedule & participate in closing

Professionalism and following the law Professionalism and following the law

Professionalism and following the law l. What does it mean to be a “Professional” Professionalism and following the law l. What does it mean to be a “Professional” here? l. In US we mean a competent, ethical, and courteous agent.

Professionalism and following the law l. National Association of REALTORS® (NAR) Code of Ethics Professionalism and following the law l. National Association of REALTORS® (NAR) Code of Ethics

Professionalism and following the law 1. 2. 3. 4. 5. It pays to do Professionalism and following the law 1. 2. 3. 4. 5. It pays to do the right thing Honest & ethical behavior bring rewards The only answer to building a good, lasting reputation Never let the pursuit of money determine your behavior NAR’s Pathways to Professionalism: show respect to everyone!

Professionalism and following the law l. Understanding the habits of a successful REALTOR®…………. Professionalism and following the law l. Understanding the habits of a successful REALTOR®………….

Professionalism and following the law 1. Product knowledge 2. Operational knowledge 3. Selling process Professionalism and following the law 1. Product knowledge 2. Operational knowledge 3. Selling process

Professionalism and following the law l Quality and frequency of communication Professionalism and following the law l Quality and frequency of communication

Professionalism and following the law You do not know everything l Refer to experts! Professionalism and following the law You do not know everything l Refer to experts! l

Professionalism and following the law l Follow up and follow through needs to become Professionalism and following the law l Follow up and follow through needs to become a habit

Professionalism and following the law l Solve issues before they become a problem Professionalism and following the law l Solve issues before they become a problem

Continuing education 1. 2. 3. 4. 5. List the topics you’d like to learn Continuing education 1. 2. 3. 4. 5. List the topics you’d like to learn more about: _____________ Continuing education and training are critical to your success in real estate. Sources Designations Have an education goal every year.

Delivering on the promise Delivering on the promise

Delivering on the promise l Stick l As to the basics influential as the Delivering on the promise l Stick l As to the basics influential as the internet is, real estate is still a relationship business

Delivering on the promise l Decide what you really do: help people with lifestyle Delivering on the promise l Decide what you really do: help people with lifestyle choices

Delivering on the promise l. Be prompt – it shows respect Delivering on the promise l. Be prompt – it shows respect

Delivering on the promise l. Return calls and e-mails ASAP! (auto responders) Delivering on the promise l. Return calls and e-mails ASAP! (auto responders)

Delivering on the promise l. Consider enrolling in a coaching program or finding a Delivering on the promise l. Consider enrolling in a coaching program or finding a “mentor. ”

Create clients for life! l l Perform with highest possible professionalism during transaction Call Create clients for life! l l Perform with highest possible professionalism during transaction Call on client shortly after closing Keep in touch at least 4 times each year Establish yourself as their professional REALTOR® l l For their future real estate needs To refer friends/relatives/colleagues

Delivering on the promise l Be honest and admit your mistakes a soon as Delivering on the promise l Be honest and admit your mistakes a soon as they occur

Delivering on the promise l. Under promise and over deliver Delivering on the promise l. Under promise and over deliver

Delivering on the promise l Take personal time to avoid burn -out Delivering on the promise l Take personal time to avoid burn -out

l Never forget anyone with whom you have worked! l Never forget anyone with whom you have worked!

l. Build long term relationships l. Build long term relationships

TECHNOLOGY MANAGEMENT TECHNOLOGY MANAGEMENT

Personal Contacts Personal Marketing Referrals Signs Traditional Marketing Newspaper Advertisements Brochures and Flyers Website Personal Contacts Personal Marketing Referrals Signs Traditional Marketing Newspaper Advertisements Brochures and Flyers Website – Company You Blogs Website – Agent Property Websites Internet Marketing Blogs You Tube Referral Sites Zolve. com Facebook Social Networking Sites My Space Professional Networking Sites Linked. In. com

Organization l l Must have: l Business cards Optional: l Marketing CD: l Personal Organization l l Must have: l Business cards Optional: l Marketing CD: l Personal l Property l Marketing Brochure: l Personal l Property

Organization l Promotional: l l l l Company website Personal website Individual property websites Organization l Promotional: l l l l Company website Personal website Individual property websites for listings National / International Websites Blogs You Tube Videos or equivalent Social Networking site – optional (My Space or Facebook) Networking sites: www. Zolve. com and www. Linked. In. com

Organization l Equipment needs: l Laptop l Printer l Scanner l Fax l Cell Organization l Equipment needs: l Laptop l Printer l Scanner l Fax l Cell phone l PDA l Combination Device (Smart Phone) l Pager l Signs / Riders l Digital Camera l Video Recorder l Internet access

Organization l Systems management Organization l Systems management

Organization l Software: l E-mail: l MS Outlook or equivalent Office Suite or equivalent Organization l Software: l E-mail: l MS Outlook or equivalent Office Suite or equivalent l Word – word processor l Excel – spreadsheet program l Publisher – publication program l Power. Point – presentation program l Access, optional – track and manage information and people

Organization l Software: l E-mail: l. Communication system between you and your clients and Organization l Software: l E-mail: l. Communication system between you and your clients and piers l. Manage communications between parties

Organization l MS Office Suite or equivalent l Word – write correspondence, Newsletters l Organization l MS Office Suite or equivalent l Word – write correspondence, Newsletters l Excel – compile data, such as current or past clients or customers l Publisher – produce professional looking flyers and brochures, Newsletters l Power. Point - put together professional presentations l Access, optional – track customers and clients

Organization l What to keep track of? l Full name l Contact information l Organization l What to keep track of? l Full name l Contact information l Date of first and subsequent contacts l Type of contact (B, S, L, T) l Notes

NAME John Doe CONTACT INFORMATION TYPE O) 907. 586. 3540 Buyer C) 907. 723. NAME John Doe CONTACT INFORMATION TYPE O) 907. 586. 3540 Buyer C) 907. 723. 8642 DATE 24/1/8 5/2/8 Mary Brenn Sue Wright Seller O) 907. 586. 4412 Buyer 31/1/8 Called for information on PM Presented info 10/2/8 Called to set up appointment 11/2/8 C) 907. 723. 5858 Landlord Called for information on property for sale Met with John 2/2/8 Paul Whehl C) 907. 586. 4491 NOTES Listed house 3/12/6 Purchased house from me Called to check in with her 7/2/8

US Software Tracking Systems Microsoft Excel l Microsoft Access l ACT by Sage (www. US Software Tracking Systems Microsoft Excel l Microsoft Access l ACT by Sage (www. ACT. com) l Top Producer (www. Top. Producer. com) l

Websites Outsource the design l Update often (weekly if not daily) l Web 2. Websites Outsource the design l Update often (weekly if not daily) l Web 2. 0 complaint l Add video or podcasting where possible l

Transaction Management l www. Settlement. Room. com l Relay Transaction Management: www. rebt. com Transaction Management l www. Settlement. Room. com l Relay Transaction Management: www. rebt. com l www. Sure. Close. com

Final Thoughts Use your background to your advantage l Get yourself organized! l Take Final Thoughts Use your background to your advantage l Get yourself organized! l Take the time to ask questions and then listen to the answers then act on what you have learned! l Choose to be different! Set yourself apart! l Deliver on every promise you make! l

Thank you! On behalf of the International Real Property Foundation Thank you! On behalf of the International Real Property Foundation

Contact Information Peggy. Ann Mc. Connochie ACH CONSULTING 3172 Pioneer Avenue Juneau, AK 99801 Contact Information Peggy. Ann Mc. Connochie ACH CONSULTING 3172 Pioneer Avenue Juneau, AK 99801 -1962 E-mail: Peggy. Ann@ACHConsulting. com Website: www. ACHConsulting. com