KWU - Buyer Mastery - [stud] manual step 1 v1.1.pdf

Buyer Mastery Guides

Step 1: Leads to Appointments

Make Every Contact Count!

Julie Fantechi

v1.1 2008 Keller Williams Realty, Inc.


NoticesWhile Keller Williams Realty, Inc. (KWRI) has taken due care in the preparation of all course materials, we cannot guarantee their accuracy. KWRI makes no warranties either expressed or implied with regard to the information and programs presented in the course or in this manual.

Material excerpted from Th e Millionaire Real Estate Agent and SHIFT: How Top Real Estate Agents Tackle Tough Times appear courtesy of Th e McGraw-Hill Companies. Th e Millionaire Real Estate Agent is copyright 20032004 Rellek Publishing Partners LTD. SHIFT: How Top Real Estate Agents Tackle Tough Times is copyright 2008 Rellek Publishing Partners LTD. All rights reserved.

Copyright notice

All other materials are copyright 2008 Keller Williams Realty, Inc.

Printed October 2008.

No part of this publication and its associated materials may be reproduced or transmitted in any form or by any means without the prior written permission of Keller Williams Realty, Inc.


Step 1 - Leads to Appointments

Table of Contents

WHERE YOU ARE TODAY .......................................................................................1

THE BUYER SERVICE CYCLE ...................................................................................3

LEAD CONVERSIONTHE BUYER SERVICE CYCLE STARTS HERE ................................4

Th e Lead Conversion Process ...........................................................................5

Converting Buyers ............................................................................................6

Moment of Truth .............................................................................................6

CAPTURE .............................................................................................................7

Making Contact on the Phone .........................................................................7

Making Contact Online ...................................................................................9

Making Contact in Person .............................................................................12

CONNECT ..........................................................................................................14

Connect Th rough Consultation ....................................................................14

Connect With PurposeUse Your Lead Sheets ..............................................16

Connect With the DISC ................................................................................18

Connect With FlexibilityUse Di erent Approaches With Di erent Buyers .......................................................................................................................22

Six Connecting Tactics ..................................................................................29

CLOSE TO APPOINTMENT ....................................................................................33

Eight Closing Tactics ......................................................................................33

Close Any Which Way You Can .....................................................................37

Leads to Appointments Ratios ........................................................................38

Criteria for the Appointment ........................................................................39

OBJECTIONS ......................................................................................................40

How to Handle Objections ............................................................................40

Common Objections to the Buyer Consultation ............................................41



CULTIVATE ........................................................................................................ 43

BINSYour Cultivation Autopilot ................................................................44

Set up an 8 x 8 Action Plan ............................................................................44

MY ACTION PLAN .............................................................................................. 50

ADDITIONAL RESOURCES ..................................................................................... 52

Further Reading .............................................................................................52

Accountability Tools .......................................................................................52

NEXT UP .......................................................................................................... 53

APPENDIX ......................................................................................................... 54

v1.1 2008 Keller Williams Realty, Inc. 1


Where You Are TodayA goal of this course is to encourage you to absorb and internalize key information in the course guides. Th e path to skill is made up of just four simple steps:

Memorize Th e material and the ideas1.

Internalize Make them something you know without having to think2.

Customize Adapt them to your personality, business practice, and 3. business plan

Capitalize Take full advantage of their power4.

You can think of this another way. One big key to success is to study. Keep in mind the acronym AIR which stands for

AttentionIntentionRepetition

Th e quiz you will nd on the next page and at the beginning of each guide is designed to help you memorize and internalize the key concepts in Buyer Mastery as you work your way to customization and capitalization. Use it to test your progress!


2 v1.1 2008 Keller Williams Realty, Inc.

Before we get started on Step 1: Leads to Appointments, test your knowledge on what you read in the Introduction.

1. Draw a line from the ve myths of agents to the truths.

Buyers are looking for 1. a real estate agent.

a. Buyers will sign a representation agreement if the bene t to them is clear.

Buyers dont know 2. what they want.

b. Buyers havent been asked good questions to help them discover what they really want.

I have no control over 3. a buyers decision to purchase.

c. Buyers are looking for houses; they are not looking for you.

Buyers will walk away 4. if I ask them to sign a buyer representation agreement.

d. Internet inquiries are good if you understand how to cultivate them.

Inquiries on the 5. Internet are no good.

e. Th ere are ways to help buyers decide to purchase.

2. Draw a line from the ve myths of home buyers to the truths.

Buyers think theyll get a 1. better deal if they work without a buyers agent.

a. Th e buyers agent provides many valuable services.

Buyers think that agents 2. can only sell their own listings.

b. Buyers almost always get a better deal if they work with a buyers agent.

Buyers are going to nd a 3. perfect house.

c. Th e buyers agent commission is paid by the seller.

Buyers think they have to 4. pay a fee to their real estate agent.

d. Real estate agents can sell buyers any house.

Buyers think that all a 5. buyers agent does is nd a house.

e. Th ere is no such thing as a perfect house.

3. Circle the statement that is FALSE.

I am a decision facilitator.1.

My job is to show homes, not sell homes.2.

Working with buyers is a numbers game.3.

Sales success is about prioritizing and managing leads.4.

Answers:1, c ; 2, b; 3, e; 4, a; 5, d

1.

1, b ; 2, d; 3, e; 4, c; 5, a2.

2 is FALSE. Your job is to 3.

sell homes, not show

homes.



Th e Buyer Service Cycle

1. Leads to Appointments

Convert Leads -Capture -Connect -Close -Cultivate

2. Prepare For the Buyer Consultation

Create Your UniqueValue Proposition

Follow Up With Prospect

3. Buyer Consultation

Conduct Consultation

Follow Up with Buyer

4. Finding a Home

Prepare for Tour

Tour Homes

Follow Up With Client

5. Offer and Negotiate the Contract

Prepare Offer

Deliver Offer

Negotiate

6. Contract to Close

Track and MonitorPreclosing Tasks

Bulletproof theTrasaction

Attend Closing

7. Postclose Systems

Followup for Referrals

Maintain Contact

Buyer Service Cycle

You AreHere



Lead ConversionTh e Buyer Service Cycle Starts HereWhether your intention is to work with buyers or sellers, you wont have anyone to work with at all unless you can convert the leads you have generated into appointments.

Gary Keller hammers this point home in SHIFT: How Top Agents Tackle Tough Times. Describing an obstacle many agents face when trying to increase their business, Gary observes, Doing lead generating activity is one thing. Getting an active lead from it is another. Without the ability to turn activities into leads and leads into appointments, any lead generating activities you do become a futile waste of your time. In other words, conversion matters.

Getting the appointment is your rst hurdle, and remember, once you have it, you have a good chance of getting the buyers businessif you want it. According to Th e 2007 NAR Pro le of Home Buyers and Sellers, 85 percent of all home buyers report interviewing only one, or at most, two real estate agents.

Number of Real Estate Agents Interviewed by Buyers

One65%

Two20%

Three10%

Four2%

Five or more3%

As Gary states in SHIFT, Getting to the table rst or second is what matters. And this makes conversion more important than presentation. Th e competitive battle is almost single-handedly won simply by getting an appointment before someone else does.

The battle is not

winning buyers

over, the battle

is getting the

appointment. Dick DillinghamInternational Master FacultyPlano, Texas



Th e Lead Conversion Process

In this step, well focus on the three steps of the conversion process:

Th is process can happen very quickly with all three events occurring during the initial contactor it can be drawn out over months. Where the prospect is in the home-buying process, and how successfully you can build your relationship with them, plays a large role in determining how fast you can move from rst contact to closing for an appointment.

In this step, well start with capture and look at the variety of ways you will make contact with your buyer prospects.

In connect, youll learn how your lead sheet and behavioral styles can help you gather important information and consult with your customers. By the end of this consultation, you will have determined their level of motivation and can decide whether or not to pursue the appointment.

In close, well look at di erent techniques for setting the appointment. Th ere are two outcomes to that conversation: you will either get an appointment or you will not. At that point we will discuss how to classify the buyers who did not set an appointment and how to cultivate them into future business.

The effort you

give to converting

leads must match

the effort you

give to generating

them.Gary KellerSHIFT



Converting Buyers

Be it a lead from the Internet, a prospect from an open house, or an inquiry o a yard sign, more often than not your opportunity to convert a buyer lead will be because the buyer is interested in a property, rather than your services. Th ey may not be far enough alongor know enough about the home buying process to think they need an agent. But regardless of the source of their call or where they are in the process, your goals remain constant.

Your goals:

Get valid contact information: at least a name and phone number.1.

Get a home and/or email address if possible.2.

Determine motivation.3.

Set an appointment for the buyer consultation.4.

What some real estate agents dont realize is that people calling from a yard sign or from an ad have a very di erent agenda.

The callers goal:

Determine if the property is a good t for them.

So remember you only have a minute or two to make a positive impression. While you are answering their questions about the property, be asking questions of your own. You want to know who they are and, if possible, how motivated they are to buy. Your challenge is that all callers are di erent. What is successful with one caller might not work well with another. Because of the range of people youll talk to, you cant have a rigid way of dealing with every caller. You have to be exible, gather as much information as you can, and demonstrate that you can provide value.

Moment of Truth

Th is is the rst of three moments of truth in the process of working with buyersyour initial conversion with the prospect.

Moment of Truth #1

What constitutes a win at this moment of truth?

Getting an appointment for the buyer consultation.

A moment

of truth is an

opportunity to win

or lose big. Michael LeboeufAuthor and Speaker



When you get a

sign call, you have

to drop everything

else. Trudy PevetoTrudy Peveto TeamThe Woodlands, Texas

CaptureYour methods of response will vary according to your sources of contact. Since in all likelihood you will be talking to your buyers in response to an inquiry they have made regarding a property, there are three main sources of contact.

On the phone from a sign call, a just listed noti cation, or an Interactive 1. Voice Response (IVR).

Online through registration on your website or by direct email.2.

In person while you are talking face-to-face at an open house or through 3. your sphere.

According to SHIFT, your capturing should always focus on getting enough information from someone so you can contact them. Th e best scripts to use are the most straightforward ones.

Th anks for calling. Im Gary Keller. May I ask your name? and Th anks, and what is your phone number? work really well when asked together.

If I were to need to get in touch with you, what would that number be? or If I found exactly what youre looking for, how would I contact you? or If I found out that information youre wanting, how would I get it to you? work well when asked separately.

Making Contact on the Phone

Larger o ces tend to have a dedicated line for ad and sign calls. Some call it a money line. Individual agents and small o ces should do the same thing. Th e phone number you put in your ads and on your signs should be a number where consumers can reach you no matter where you are during normal hours of operation. When your money line rings, there is nothing more important than focusing your attention on the call. Some top agents follow this strategy for answering on the third ring:

On the rst ring

Clear your mind of whatever you are doing

On the second ring

Say an a rmation out loud or think about the dollar value this call could generate

On the third ring

Answer in a positive, upbeat voice



Some Things to Remember

While talking with a prospect, give positive responses to the buyer: Great! Fantastic! Wonderful! Th ats terri c! Good for you!

Repeating what the caller says is an indication that you are really listening.

Th e person who asks questions controls the conversation. When you ask questions, you get the information you need to help a buyer. You can provide value (come from contribution) only when you know what a buyer needs and wants.If a call goes badly, end the call quickly and courteously.

Guidelines for Response Times

Sometimes you are not able to answer the phone. What you must keep in mind is that people who call you because of an ad or a sign are most likely going to be calling another agent when you dont answer the phone. If you have an assistant, that person should be taking all calls when you are unavailable. Th e best thing you can do is return the call as quickly as possible.

A recent Keller Williams survey shows that most top agents return calls within an hour when the call is received during business hours. For calls received after business hours, 55 percent respond in four hours or less. Times are only slightly longer for Internet leads during business hours: 55 percent respond in two hours or less to business-hours emails; 58 percent respond in one business day or less to after-hours emails.

0 5 10 15 20 25

Email - after business hours

Email - duringbusiness hours

Calls - after business hours

Calls - during business hours

Hours

Brad Korn, Mega Agent and Master Faculty, in Kansas City, Missouri, has learned to calibrate his return calls to the time of day as well. He uses what he calls his 3 x 3 technique. Brad or a team member will return a call at three di erent timestypically morning, lunchtime, and early eveningfor three consecutive days. If they havent heard back by then, they will stop. We found that the majority of callers we eventually reach are actually grateful we were so persistent. Th ey often apologize for not getting back to us and thank us for taking the time to follow up. After tracking calls, Brads conversion rates from IVR went from 10 to 15 percent!

To maintain

control of a

conversation,

answer a question

with a question.Tom HopkinsHOW TO MASTER THE ART OF SELLING



Making Contact Online

Th e vast majority88 percent!of buyers now begin their home search online. Th ey may be just starting out, and wanting to get a feel for whats out there before they get serious, or they may be ready to buy now, and just using the Internet to speed up and streamline their search. Either way, if they choose to make contact with you online, that means you may have to interact with them from a distance for a longer time than you would with someone who rst contacts you by phone (e.g., a sign call). We know that many people who look online want to remain anonymous until they choose to reveal their identity. Th e important thing to remember is that because future buyers are looking for something you haveinformation about propertiesyou have the leverage you need to ask for their contact information. Its a simple exchange of your property information for their contact information. Th is makes previewing and knowing your inventory all the more importantproperty knowledge is your currency in this all-important transaction.

When you provide something of value, the prospect becomes increasingly willing to work with you and give you contact information. Once you have that, you can begin to cultivate the relationship by email if that is all they have provided. If they provide a phone number, call them immediately. A personal call can increase your ability to provide pertinent information, as well as convert the lead to an appointment. In your Toolkit CD, youll nd the Internet Lead Cultivation document, which is a small excerpt from the KWU Internet Lead Generation course. Th e excerpt provides guidance on how to work with Internet leads.

With so many buyers beginning their home search online, we highly recommend that you attend the course to learn all about Internet leads. In this guide we will focus on lead capture via email and your website registration.

Registration

Not having a registration on your website is not an option. You are not a free service o ering information for informations sake. Your website is a tool for you to o er consumers what they wantreal estate informationin exchange for what you wantcontact information.

You will up your chances of getting contact information if you require registration from buyers who are coming to your site because they want to search all the homes in an area (Internet Data Exchange searches or IDX), to get instant noti cations on properties that meet their criteria (buyer instant noti cations or BINs), or to save search criteria for future visits (search savers).



Th ere are four widely used strategies (see below) ranging from up-front registration to open searches with registration attached to ongoing use. Not all registration yields equal results, however. For example, requiring your visitors to register up front to do anything on your site may yield a high number of registrants, but a lower percentage of appointments; allowing open property searches and asking for registration may result in fewer registrations, but in a higher conversion rate to appointments. Why the apparent incongruity? In SHIFT, Gary Keller explains that people who register up front may not be as far along in their search as people who are ready to save their searches and receive daily email updates.

Four Lead Capture Strategies

1. Up-Front

Visitors must register before entering search criteria

2. Preresults

Visitors can enter criteria, but must register before results are displayed

3. Limited Results

Visitors can enter criteria and view limited information, but must register

for full complete results

4. Open Search with Drip

Visitors can search without registering, but must register

for saved searches or emailed listings

Higher Percentage of Registrations, Lower Percentage of Appointments

Lower Percentage of Registrations, Higher Percentage of Appointments

Reg

istr

atio

ns

Appointm

ents

Both strategies are absolutely valid. An analysis of your conversion skills can help you decide which technique works best for you. If you are newer to lead conversion, it may be better for you to have a large number of leads to work with, as your conversion rates are probably lower. If your skills are sharper, a smaller number of leads to work with will net you the same result without having to spend the time to sort through them all. You must experiment until you nd which method yields you the most appointments.

DELUXHighlight



Email

People who contact you by email are identifying themselves as being ready to buy a home. Th ey want information fast. If they dont get the information from you, theyll move on to the next real estate agent.

According to a 2006 survey by the California Association of Realtors, email users expect a quick response to their inquiries.

Twenty-three percent expect a response instantly.1.

Twenty-one percent expect a response within thirty minutes.2.

Eighteen percent expect a response within four hours.3.

If all you have is an email address, reply to an inquiry that way. Youll save time if you have an autoresponder to reply to email inquires automatically, but it is important to personalize the communication. And again, if you have a phone number, it is always a good idea to get in touch with the prospect on the phone. Talking on the phone allows you to control the conversation and get the information you need.

Ben Kinney, a top-producing agent in Bellingham, Washington, takes a very aggressive approach to capturing online inquiries. Using a program he and his team jokingly call the Ten Days of Pain, Ben will email his contact for ten straight days, seeking to gather more information, get an appointment, or get a referral. Most of the inquiries we capture are from registration. We may only have a name and an email address. As soon as their information comes in, we immediately respond with a personalized email thanking them for their interest. After that, the Ten Days of Pain launches as the team sends a series of daily emails, following a technique learned from Gary Keller: MOFIRMake O ers for Immediate Response. For example, they will send out emails they call teasers: We just heard about a foreclosure property that is coming on the market. Remind us what area you are interested in, and what your price range is. If this property is a match, well be happy to send you more information! Other emails in the campaign include o ers for a free home inspection if they sign up for an appointment, and real estate quizzes that direct buyers back to his website for the answers, requiring registration with a phone number.

By the end of the ten days, Ben and his team are con dent they know where they stand. We either have an appointment, have them on a drip campaign, or know with certainty they wont be buying.



Making Contact in Person

Your opportunities to capture and connect with a lead in person will largely be from your sphere, an open house, or a walk-in. A face-to-face conversation will be very powerful and allows you to gather a lot of information about the lead, nd commonalities, discover their behavioral style, and start to build rapport. You can also get answers to important questions such as the prospects motivation and how far advanced the person is in the search process. Th e more direct your contact (i.e., a direct conversation compared to email), the more prospects you will convert to appointments. Remember that it is harder for a prospect to turn down your request for an appointment when you talk in person than it is via email.

Open Houses

When you rst meet prospects at an open house, your rst objective after they have written down their contact information is to establish rapport. Ben Kinney is always looking for commonalities, whether it is the type of car they drive or the logo on their T-shirt. He wants to build the relationship and be seen as friendly, helpful, and nonthreatening before he starts to address their needs. One way to learn about their needs is to use the two-for-one techniquealways o ering two pieces of information for every piece of information you ask for in return. For example, you might say, Th is house has 4 bedrooms, 2.5 bathrooms, and is 2,520 square feet. Are you looking for a four-bedroom house? In this way, you are o ering value as you identify their criteria. Your focus during this process is not to sell them the house, but to create a situation where you can meet their real estate needs.

At this point, Austin, Texas agent, Gary Gentry, the rst agent ever to join Keller Williams Realty, stresses the importance of being prepared. If it appears that the house is not of interest to the prospects, he will pull out a printed list from the MLS of every single property in the area. Drawing on the information they have already revealed, he will show them the homes that most closely match what they are looking for and demonstrate his knowledge of the neighborhood and surrounding area. He then uses this script to close for an immediate appointment, Im going to nish up here at 4:00. If youd like to meet then, we could go and see the inside of the properties you liked here on this list.

Showcase your

talents at every

open house by

backing up a

warm and friendly

personality with

unbeatable market

knowledge. Betsy ScheffeProductivity CoachAustin, Texas



Every contact you meet at an open house is a lead which can be converted to an appointment at a later date. Ben Kinney makes contact with his open house leads on the next Monday and tries to close for an appointment. He draws on the personal rapport he established during the open house, as well as any information he gathered about their home search. Most importantly, he always o ers something of value. He uses this script, Th anks so much for coming to my open house this weekend. Did you see any other interesting properties when you were out looking? Well, I got online this morning and found ve other properties that match your criteria. I would love to meet with you so I can show them to you. Th en, if any of them are interesting to you, we can hop in the car and go see them right away.

KWConnect videoBuyer Mastery: Lead Conversion, Open Houses

Watch Matt Fetick (courses/Buyer Mastery), a master in action, as he demonstrates scripts to capture, connect, and close at an open house.

KWConnect



ConnectConnecting with your prospect is the time to lay a foundation for your future working relationship. Th is is your rst chance to let them experience what it feels like to work with a consultantsomeone who asks questions and listens to their customers more than they talk at them. Your questionsand the way you ask themwill demonstrate your expertise, experience, and personality. At the same time, their answers will reveal the validity and value of this buyer to your business. Will they be worth your time?

Connect Th rough Consultation

Connectingbe it over the phone, by email, or at an open houseis also the perfect opportunity to prequalify the prospect. Aim to gather information at every point of contact because the more you learn about your customers, the more e ectively you will be able to serve them. But keep it conversational and friendly. As Gary Keller states in SHIFT, While youre qualifying, they are connecting.

PrequalifyIdentify the Able, Ready, and Willing

As we learned in the Introduction, in order to protect and maximize your time, you should prioritize your buyers according to how able, ready, and willing they are. Th e connect phase is the perfect place to start! Your connecting questions, tactics, and lead sheet will help you determine if you are speaking to a strong prospectsomeone who is able, ready, and willing to buynow.

A

W R

How can you

have charisma? Be

more concerned

about making

others feel good

about themselves

than you are

making them feel

good about you. Dan ReilandVP of Leadership Development, INJOY



The Six Connecting Questions

Your connect consultation seeks rst to understand. You want them to open up and reveal themselves to you. By asking so many questions, you will immediately demonstrate how this relationship is going to be all about them, not you. Your conversation with them should aim to ask questions that will get the answers to these questions, excerpted from SHIFT:

Who are they?1. Back up and, if you would, please tell me a little bit about yourself.

What do they want or need to do?2. Th anks for sharing that. So you folks called on the house on Bandera Drive, are you looking for a new home?

Where do they want or need to do it?3. Th anks for sharing that. Now, if you would, can you share with me if this is the only part of town you are interested in, or would you consider other areas as well?

Why do they want or need to do it?4. Th anks for sharing that. Now, if you would, can you share with me why youre doing this?

When do they want or need to do it?5. Th anks for sharing that. Now, if you would, can you share with me when youd like to do this?

How do they plan to do it?6. Th anks for sharing that. How do you plan to do this?

While these scripts may read unnaturally, or seem repetitive, they almost never feel that way when spoken, especially for the person on the receiving end.

DELUXHighlight



Connect With PurposeUse Your Lead Sheets

As with every other stage in the buyer service cycle, initial contact goes more smoothly and e ciently if you have a system in place to keep it organized. During the connect stage, that system is your lead sheet. Many agents color code the lead sheet so they can nd it quickly and easilyfor example, gold for buyer leads and green for listing leads. Its best to keep your questionnaire to a single piece of paperyou dont want to put the seller though the third degree, and having to deal with more than one sheet can be di cult when youre in a hurry.

Your most important initial goal is to gather information. Your questions and the way you ask them, will demonstrate your shrewdness, experience, and personal warmth. Th is information gathering should also be designed to reveal the validity and value of this seller to your business. Are they going to be worth your time? Always use lead sheets when asking your consultation prequali cation questionsthey serve as a reminder of essential information you want to gather. Imagine what a disaster it would be to talk with a solid lead only to get back to your o ce and realize you did not get a last name or contact information! Your lead sheet is the most e ective tool you have to gather information from your database.

Use your Lead Sheets to

Organize1. all the important personal details about the lead that youll want at your ngertips later.

Track2. key qualifying questions that will help you assess how to handle this lead going forward.

Learn3. something about the prospects personality type and communication style, useful as you work towards converting them to an appointment and, ultimately, a buyer listing!

You dont have to ask every question on the sheet, and you should know which questions are key for you. Th is will vary from one agent to the next.

Dianna Kokoszka, president of MAPS, uses her lead sheet to meet several objectives. She assesses the prospects motivation, analyzes their behavioral style, and builds a relationship with them. She wants to nd the root of their motivation, so she often goes three deepshe asks them why is that important to you? three times after each question. She varies the wording, saying things like

How would that make you feel?

Whats important to you about that?

How would that make your family feel?

Would that ultimately give you the goal that you want?



Lead sheets for in-town home buyers are covered in Lead Generation 36:12:3. Th e same lead sheets are in the Appendix of this guide and on the Toolkit CD for this course. Th e forms are Microsoft Word les that you can alter to t the way you work. Some agents prefer to work with lead sheets that are fully scripted. Others prefer sheets that are more condensed, with only prompts. Both versions are provided, allowing you the exibility of working in a way that is comfortable for you.

Tip!

Remember that states or provinces may require real estate agents to discuss agency prior to asking all of the questions on the lead sheet. You need to adhere to the law for your location. Ask any questions that are allowed, set an appointment, and ask the remainder of the questions in your face-to-face consultation after youve explained agency.



Connect With the DISC

As a Keller Williams real estate agent, you most likely took a DISC behavioral assessment when you joined the company. While we all know that people are complex and have many traits, the DISC assessment is useful in categorizing people by their one or two predominant behavioral traits. Th e initials in the name of the assessment represent each of the characteristics: Dominance, In uence, Steadiness, and Compliance.

You have your lead sheet to guide you through the list of questions you need to ask; the DISC will help you keep the experience as individualized and personal as possible.

TruthYou are auditioning for the chance to be

their representative.

Its important to understand how your predominant behavioral traits a ect the way you interact and communicate with prospects and customers. It is equally important to understand how people with di erent behavioral styles respond to you and how they want to be treated. With this understanding, you have tremendous power to maximize how e ectively you work with your buyers and meet their needs.

If you have experience with the DISC, you know it is not a rudimentary tool, but an advanced communication technique, and you are no doubt constantly re ning your skills. If you are new to the DISC, the more you study and use it with your hires or vendors, the more adept you will become at using it.

TruthIn order to really meet your customers fundamental needs,

you must understand who they are.

Lets start with a refresher on the traits associated with each of the behavioral styles ...



Meet Your Buyers Needs

You can identify behavioral styles based on the kinds of questions people ask. Once you know their behavioral style, you can provide excellent service by meeting their needs. Remember, most people have traits from more than one category. You want to make sure you meet their primary needs.

D Personality

Questions: What kinds of questions do High-D people ask?

Dominant people ask what questions: What does it cost?

Needs: What do dominant people want?

To have you listen while they talk To know the bottom line To control, conquer, and win

Actions: What should you do with dominant people?

Let them know that you realize their time is valuable. Help them go through the homebuying process as quickly as possible. Emphasize results (especially when you present your Unique Selling Proposition.)Give them options and let the buyers select which choice is best for them.

I Personality

Questions: What kinds of questions do High-I people ask?

In uencing people ask who questions. Who do you know?

Needs: What do in uencing people want?

To talk a lot To persuade To know about people who live in the area To know about entertaining in the home

Actions: What should you do with in uencing people?

Be upbeat and enthusiastic. Ask questions about them and listen to what they say. Emphasize who you know. Pay attention to social boundaries.

The most

important single

ingredient in the

formula of success

is knowing how

to get along with

people. Theodore RooseveltTwenty-Sixth President of the United States



S Personality

Questions: What kinds of questions do High-S people ask?

Steady and supportive people ask why questions: Why do I need to talk to you lender?

Needs: What do steady people want?

Assurance Stability To feel safe To belong

Actions: What should you do with steady people?

Allow plenty of time for them to make decisions. Communicate frequently and ask them how theyre doing. Let them know how much you care about them and their family. Provide all the information they need (especially facts and statistics).

C Personality

Questions: What kinds of questions do High-C people ask?

Compliant and detail-oriented people ask how questions: How does the inspection process work?

Needs: What do detail-oriented, compliant people want?

To know lots of facts and details To avoid con ict To avoid mistakes Time to think

Actions: What should you do with detail-oriented, compliant people?

Provide as much information as you can. Th ink about what you are going to say before you say it.

Give them time to think. Be prepared, organized, and on time for every appointment.



Connect With FlexibilityUse Di erent Approaches With Di erent Buyers

How a lead comes to you is only part of the equation when it comes to handling the lead. Another key component is the type of lead. What kind of buyer are you talking to? What are their speci c reasons for buying? What is motivating them to make a purchase decision? And how far along are they in the process? Asking for and listening to the answers to these questions will better equip you to capture their business and meet their needs.

The Internet Advantage

Todays buyers have never been more market savvy or empowered. Th anks to the Internet, buyers can now search for properties on their own and obtain information about the home-buying process. Th e Internet is no longer about the extraordinary; its about the ordinary. It is as much a part of our daily work as mobile phones and cars. With 88 percent of all buyers starting their search online, it pays to assume that all your buyers are Internet buyers and leverage this reality to your advantage.

Todays buyer can view properties online and has a tremendous amount of good general information at their ngertips at any time of the night or day. Th is ability gives them a sense of security. Th ey feel more involved in the process and enjoy the sense of directing their own search. Marybeth Harrison, a top-producing agent in Dallas, Texas, has seen the advantages of this. What Im nding happening is theyre narrowing down what they want and where they want it. Th at is saving me an enormous amount of time.

Your job is to acknowledge the information and work they have done, and then educate them on the bene ts an agent provides beyond what they can nd online.

By acknowledging their research, you can leverage it. After all, they have done much of the legwork already. Gary Gentry likes to recognize the work they have done and compliment them on it. Hell say, Wow, it sounds like youve been studying! or Youve done a lot of great research! Were starting ahead of the game! He also takes care to preface many of his remarks with comments that a rm their knowledge, As Im sure you are already aware or I imagine you already know this

Become their consultant, advising and coaching them through every stage of the process. Because they do not have your overall perspective or the ability to purposefully analyze how the properties or areas they have selected t into the matrix of others in your area, you have an opportunity to prove your value.

Working with

buyers is all about

providing service

and building

relationships. Dave Therrien,Operating Principal, Crofton, Maryland



Terry Moerler, a real estate agent from Th ousand Oaks, California, with more than 30 years experience working with buyers, realized that because of the Internet she would have to change her approach to Web-savvy buyers. She knows that todays buyers are more informed than ever. As more information becomes available online, I look for more and more speci c ways to provide service to my buyers. For example, she demonstrates her value by o ering to pull up tax records and school reports on properties her buyers are interested in.

Working with First-Time Home Buyers

As you conduct your initial calls, be aware that youll need to slow down and explain more things to rst-time home buyers. Th ey have no basis for understanding what you are talking about, as they are unfamiliar with the home- buying process. Ask what questions they have and let them know that youll explain the home-buying process thoroughly in the consultation. Youll also take time in the consultation to answer all of their questions. Its important to realize that buying a rst home is a big decision, and it is your job to help your customers feel comfortable making one of the largest purchases theyll ever make.

Working with Homeowners

Many homeowners who would like to move will start looking at properties before they contact an agent to sell their house. Th ey want to know what is out there before they decide whether or not to make a move. So, prospective buyers who are already homeowners represent a great opportunity for you to pick up both a buyer and a listing.

Rick Brash, Mega Agent in Calgary, Canada, always capitalizes on this situation by o ering to do the buyer consultation at the prospects house. He does a CMA for them in order to estimate how much equity they will have to put down on their next home. He gets the listing to sell the property by demonstrating everything he will do to get their house sold for the most money possible, which they can then spend on their new home.

Th e rst thing to do is establish the critical path of whats going to happen with respect to their sale and their purchase, says Steve Cohen, leader of the Steve Cohen Team in Boston, Massachusetts., Ascertain what their position is, and then educate them on their options. Many buyers have not thought it all the way through yet. Betsy Sche e, Productivity Coach in Austin, Texas, will simply ask her prospects, Will you want to sell your home before you purchase a new property?



Depending on whether or not your buyers have to sell in order to be able to buy, there are di erent courses of action.

Th ey have to sell in order to buy. 1. Th e vast majority of people have to sell their house and use their equity toward the purchase of their new home. In that case, make a listing appointment and put their home search on hold until you have evaluated how much their house is worth, put it on the market, and gotten an o er.

Th ey dont have to sell in order to buy.2. If they are secure in the knowledge that they can pay two mortgages, you can make a listing appointment to do a CMA, get their home on the market, and at the same time, help them nd a their new home.

Each of these scenarios could present some challenges. In the rst case, many buyers will object to putting their home search on hold, and will want to make an o er on a home subject to selling their own property. However, all things being equal, that will not put them in a strong position to get the home. If the seller has a choice between two o ers, theyre not going to take the one with the contingency. You will nd yourself launching a hurried marketing campaign to get their house soldbut by the time theyre ready, their dream house is probably long gone. Your job is to convince your buyers to get their equity out so they can make a rm o er on what they want.

Paint a picture for them of what their search will look like if they have sold their home and gone liquid. Th ey now know their yield, have eliminated uncertainty, and can devote themselves full time to nding the dream house they know they can get.

In the second case, even if your buyers are willing to carry two mortgages, realize that until they understand what their yield is going to be, they may not be totally comfortable with committing to a new purchase. Both you and they are likely to feel the stress associated with not knowing how much its going to sell for. At this point, Steve Cohen would conduct a sensitivity analysis with them to set their expectations for the likely outcomes they will achieve. Lets say you were to buy your new home for x, and then sell your existing home for y. If it is y minus 5 percent, would life go on? If it is y minus 10 percent, could you live with it? Th rough this analysis, he helps them to de ne the range in which they will be comfortable.

I find out how

much equity my

buyers have before

we start looking

at houses. I do not

want to educate

them to be looking

at properties that

are either above or

below what they

can afford. Betsy ScheffeProductivity CoachAustin, Texas



Out-of-Town Buyers

Your line of questioning with an out-of-town buyer is a little di erent from an in-town buyer, so it is helpful to use a form tailored for these people. Out-of-town buyer forms (one with scripts and one with prompts) are in the Appendix of this guide and on your Toolkit CD.

Working with out-of-town buyers is a large part of many real estate businesses. Th ere are a variety of reasons for relocation, and the reason a ects how you work with the customer. For instance, if your buyers are relocating because of a job transfer, you most likely need to work with their relocation company. Most high-end moves use a third-party relocation company or an in-house relocation department. Fortune 500 companies almost exclusively use agents who are in the Worldwide Employee Relocation Council (ERC), meaning the agents show up in the ERC guide. ERC is a membership organization with an annual fee. Information about the organization is available on their website (http://www.erc.org).

Out-of-town buyers may also come to you through the Internet. Ben Kinney, an Internet-savvy agent in Bellingham, Washington, states that up to 30 percent of his Internet inquiries come from buyers who do not live in the area. He di erentiates them from his other Internet inquiries and handles them with the same techniques he uses for other out-of-town buyers.

Nine Things to Do on Initial Contact

Find out if the caller is already working with another agent.1.

Find out why the caller is relocating.2.

Find out where the caller is in the home search process.3.

Ask about the callers time frame.4.

Ask if the caller needs to sell a house.5.

Inquire about nancing.6.

Get an estimate of what the prospect thinks is a ordable.7.

Find out when the caller will be in your area.8.

Close for the appointment.9.

Tip!

Make sure you get an address so you can send them a relocation packet, and always set your next appointment before ending the call or meeting.



Working with Investors

At the most simplistic level, the decision to buy a particular investment property is economic. It is an analytical decision made with the head rather than with the heart. Because investing is a numbers decision, buyers are going to want to see the numbers. Your CMA, description of trends in the area, and cash ow analysis will be the tools an investment buyer uses to make a decision.

Just like working with people who are going to live in the home they buy, you must develop rapport, have excellent communication, and engender trust with investment buyers. Th e di erence with investment buyers is that they dont need to fall in love with the property. Sometimes they dont even need to see the property in person, and they may never meet you in person.

Th e following story demonstrates how trust a ects an investors willingness to take a real estate agents advice.

Chris and Renee Chaback work with investors in Tallahassee, Florida, as part of Gene and Rebekah Rivers team. Chris says, Investors are looking for a transaction that is fast, e cient, and hassle-free. It is not unusual to work with investors that you never meet face-to-face. Obviously, this kind of relationship is not all about the warm and fuzzy aspect of working with people. However, similar to working with traditional

home buyers, it is essential to have a relationship built on trust.

Renee recalls a time when she was aware of a new subdivision. She called three investors and told them about the opportunity. Two of the investors had been looking for awhile to nd something for their kids. Her words to the investors were, Let me tell you, the prices on these are going to go bananas. Buy them now. I need a contract by Monday if you are going to do it. Two investors followed her advice and bought property at $138,000. Th e third investor came back later and had to buy at $160,000. He didnt listen because he did not have enough trust. Th e transaction built Renees credibility with her investor and helped him develop trust in her advice.

Tip!

Disclaim! Disclaim! Disclaim! Many investors will request a pro forma showing an investment propertys potential for cash ow and appreciation. No matter how thoroughly you research a property, always include a disclaimer. No one can predict the future. We can only show whats probable. Protect yourself and disclaim, disclaim, disclaim!



Working with New Construction

Buyers are attracted to new homes for emotional reasons. Th ey like the thought of being able to pick out their own colors, lot, and oor plan. In parts of the country like the Sunbelt, where new homes are more prevalent, there may even be stigma attached to a used home. If there is any dirt in the house they want it to be their dirt. Th ey like the thought that no one has drunk from the kitchen faucet except for them!

Working with new construction is a large part of many real estate businesses, and it requires a di erent approach. Th e process is likely to take much longer. While it may take only a few days or a few months to get a buyer into a resale home, the purchase of a new construction home may take ve six nine months, as you guide them through the process of imagining their dream home to securing the realization of it.

Th e process will take a lot of negotiation and go-between work on your part. Educate your buyers on the many bene ts you have to o er.

Initial negotiations.1. It is very di cult to negotiate on the price of a to-be-built home because the builder has nothing to lose while the lot is empty. Even if the home has already been built, and the builder is losing money on it every month, they may still be loathe to cut the priceit could create appraisal problems for them when they start a new house the next month, or launch a PR war when Johnny and Jennie nd out at the next block party that they paid more for the same house. What you are negotiating for your buyers at the start of the process are upgrades that the builder can bury in the transaction. A fully sodded lawn. A sprinkler system. Extra money for closing costs.

Good service. 2. A reputable builder will always want to do a good job for their clients, but keep in mind that they will want to do a better job for you. In their entire lifetime, your buyer will buy one or maybe two homes from that builder. You, on the other hand, have the potential to bring them scores of buyers every single year. Th ey are more likely to accommodate your requestsfor example, to change out that white granite counter for a grey onethan they are the buyers.

Advocacy.3. Th at nice and friendly guy, the onsite agent, does not work for the buyer. He works for the builder. If push comes to shove when there is an issue like shoddy workmanship, who does that onsite agent side with? Without their own agent to represent them, buyers are at the mercy of the builder or their own lack of experience. A good real estate agent knows what is standard in a new home, and what to be looking out for. When problems occur, you will be able to negotiate on your buyers behalf and ensure that any mistakes are corrected before the sale becomes nal.

DELUXHighlight



Betsy Sche e, Productivity Coach in Austin, Texas, believes in advocating on her buyers behalf. She always insists on an inspection of the property, even though her clients sometimes tell her they dont think it is necessary. But more often than not, the inspector will nd something that is not up to code. On one such occasion, she and her buyersa young couple from the northwere waiting for the inspector to

nish, when he climbed down from the attic, shaking his head. Youre lucky your real estate agent had you do an inspection, he told the couple. Th e builder overlooked the insulation in the attic. Its only June. You would have spent hundreds of dollars trying to cool this house before you got your rst electric bill and gured out something was wrong.



Six Connecting Tactics

1. The Cordial Interrogation

Th is is an interrogation, make no bones about it, but it should be conducted in a cordial manner. Keep it conversational to avoid sounding like youre reading o a list, and keep it purposeful to get the information you need to better serve them. In your own style, make the questions sound easygoing and natural. You dont necessarily need to ask the questions in the order they appear on the page. You may not get every bit of information on the rst call. Th ats okay. You can ll out the form as you collect more information later. Mike Mendoza, a Mega Agent in Phoenix, Arizona, points out that the questions on your lead sheet serve as reminders of the information you want to gather.

Tip!

Whether its in the o ce, at home, or on the road, you should have a supply of lead sheets anywhere you might take a call.

2. Demonstrate Your Expertise

Its never too soon to start letting the prospective buyer know what you know about the overall economic and market picture that could a ect their purchase decision.

Agents like Gary Gentry say theyve learned that there is absolutely no substitute for the value of strong, detailed knowledge displayed at the rst opportunity. It doesnt have to take long. Th e important thing is to select a few nuggets of local or regional economic data combined with some housing market speci cs. As Gentry says, Data plus detail equals con dence. Its a display of con dence on your part that will generate buyer con dence in you right o the bat.

3. Listen: Be Present in the Conversation

Paying attention to what buyers say is critical to your success. Susan Scott, author of Fierce Conversations, has excellent advice on having meaningful conversations. She calls them erce conversations because you are focused on one and only one thing: what the other person is saying. When another person says something, you respond appropriately and communicate that you heard what was said. Th e author refers to this as being present for the conversation, meaning your mind is not anywhere else. Another great point Ms. Scott makes is that you need to know what the other person wants to talk about. Th e question she asks is, What is the most important thing we should be talking about? You want to get at that information in di erent ways at di erent times.

To be successful

working with

buyers, you must

be genuinely

interested in

people.Todd ButzerRegional Director and Operating PrincipalEdina, Minnesota



To make sure you are meeting your customers needs, youll ask the following kind of questions:

Do you have any questions? Is there anything I should know that I have not asked about? What are your fears, concerns, or uncertainties about buying a home? What is most important to you?

Listening to people builds a relationship faster than anything else you can do.

4. Ask Questions to Break the Ice

Working with home buyers is all about the relationship you have with your customers. You spend a lot of time with buyer customers, so it is essential to get to know them and build trust. Th e easiest way to get to know your buyers is to ask about everyones favorite topicthemselves.

Using FORD, you ask about:

Family and friends

Occupation

Recreation

Dreams

When establishing rapport, you are trying to nd areas of commonality between you and the buyer. Why do you want to nd areas of common interest? Because people like people wh are like them and even more important, buyers choose agents they like.

Once you learn about your customers, use that information to communicate e ectively by doing things such as using analogies that are meaningful to them. Paying attention to their background and interests communicates your interest in them.

Tip!

A note of cautionwhen asking about family, be sure you avoid asking questions that could violate the Fair Housing Laws. Never ask questions that could lead you to steer buyers toward property that is considered discriminatory based on membership in a protected class (race, color, religion, national origin, gender, age, familial status). An example of an acceptable question regarding family is, Who will be living in your house? Conversely, questions such as, Are you married? or Do you have children? could be construed as providing information that would lead you to steer your customer toward a particular neighborhood or away from another. Have a couple of nondiscriminatory questions, internalize them, and ask the same questions of all your buyers, and then you wont get into trouble.



5. Mirror and Match

Th ere is another aspect of communication you should consider. Mirroring and matching is a strategy you can use to help buyers feel comfortable with you. In Th e Language of Sales Fast Track Coaching program, Dianna Kokoszka teaches the following strategies:

Match body language, including subtle actions and postures1.

Match speech patterns2.

Rhythm and Rate: Mirror how quickly a person speaksa.

Volume: Mirror how loudly a person talksb.

Tonality: Mirror how high or low a persons voice isc.

Use words the other person uses frequently3.

6. Earn Trust

Weve talked about getting to know your buyers and being present in your conversations. Th ere is an additional element that is essential in your relationship with any traditional home or investment buyer. Th at additional element is trust.

People will buy a house from you if they trust you. Honesty and trust go hand-in-hand. So, how do you develop your buyers trust?

TruthTrust is something you must earn.

It often takes time to earn trust, and it is something you can start working on right away. As Seth Godin says in Permission Marketing, familiarity builds trust. He gives the example of Crisco, Tabasco, Campbells, and Vaseline being pro table because they are trusted brands. Why do people trust these brands? Because time after time, when they use these products, they have a consistent experience. Consistency and predictability are two things that build trust.

As you conduct business, you can earn your customers trust over time. Initially, customers start to trust you because they nd out the things you tell them are true and the information is valuable to them. You continue to build trust when you do what you say you are going to do. Customers take your advice on making a wise home purchase decision. With increased trust, customers will refer you to family and friends, and eventually they may come back to you with more business. Th e longer you are in business, the more people will come to trust your brand.

Trust is lost in

miles, regained in

inches. Italian Proverb



Ways to Earn Trust

Always carry through on what you say you are going to do.1.

Demonstrate that you are successful.2.

Include testimonials and references in your Buyers Packet.a.

Hold your buyer consultation in an o ce that inspires trust (a space b. that looks professional).

Demonstrate your expertise in real estate when giving a comparative market 3. analysis (CMA).

Mention any major concerns when you see indications of potential 4. problems at houses you are touring. Better yet, preview houses and dont take buyers to any houses with serious problems.

Tell the truth. If you dont know the answer to a question, say you dont 5. know and then get the information from someone who does know.

Be a problem solver. You earn trust when you demonstrate that you can 6. solve the buyers problems.

Can you think of any more?

__________________________________________________________7.

__________________________________________________________8.

Steve Condurelis in Brentwood, Tennessee, o ers buyers his own home guarantee. Th e guarantee is that he will not allow his customers to buy a bad house. If a customer is unhappy within the rst year, he will resell it for freeno listing agent commission. He does have a reasonable condition on the guarantee. He wont guarantee just any house. It has to be a house that he believes is a good choice (one he knows he could resell). Just think what that kind of promise does to inspire trust. It says you will not sell a house unless you believe it is a good choice for your customers.

Trust is an invaluable commodity. Treat it that way. You can spend ages building a trusting relationship and then destroy it in a few minutes. Once violated, it is very di cult to regain.



Close to AppointmentYouve captured. Youve connected. Now its time to close for the appointment. Your rst moment of truth. Remember that in your role as a consultant working with buyers, your job is to help your customers nd the home of their dreams, make a great investment, or nd the home of their dreams and make a great investment! By setting up a meeting with them, you are taking them one step closer to realizing their dreams.

Remember that closing is not an event, it is a process. As soon as you begin to convert a lead, you may nd that you have opportunities to close sooner rather than later. Go for it! Use trial closes and try to close early and often.

Th ink of closing as payo time. Th is is where you recoup your investment in lead generation and take the rst concrete step towards your buyer paycheck.

Seven Closing Tactics

Before we look at some of the most e ective and practical tactics for closing, remember that whatever the techniques may be named, or whatever strategies are employed, they can all be boiled down to one key essentialasking for the appointment. Its obvious and yet sometimes overlooked. Gary Keller states it plainly in SHIFT, Th e right approach to close for a meeting is the only approachjust ask.

Keep that in mind as you study the following techniques. Whatever tactic you try, ultimately its all about simply asking to meet.

1. Show the Benefi ts

In general, people are more likely to go along with something you suggest if you explain the bene t to them. For example, prospects are more likely to agree to come to your o ce for a consultation when they understand that doing so could allow them to preview a lot of properties and ultimately save time in their home search process. Brad Korn likes to use this script, If spending thirty minutes with me could save you hours of time and thousands of dollars in your home search, would that be of bene t to you?



2. Take Back Close

Th is technique puts a tempting o er in front of the buyersuch as access to pocket listings or bank-owned propertiesbut then subtly creates a fear that they may not be able to get it. You can say, Ive enjoyed talking with you. To be honest, I dont know whether I can be of help to you or not, but Id be honored if we could meet to nd out.

3. The Negative-Positive Close

Th is is another way of backing into the appointment a bit, compared with more aggressive stances. You might wrap up by saying, Would you be o ended if I asked if we could meet to go over all this in a little more detail?

4. Give Them What They Are Looking For

Remember that it is unlikely a buyer calling on a house will end up scheduling an appointment to see that particular property, much less buying it. It is your job to quickly pique their interest by giving them what they are looking forinformation on interesting, comparable properties. Tony Carnesi, on the Kiker Team in Denver, Colorado, says their agents keep a book with the top eight listings around each of their other listings. When a call comes in, they can ask what the buyer is looking for, o er valuable information, and set an appointment for a buyers consultation in order to show them a comprehensive selection of properties to meet their needs.

Give two choices

for moving

forward, either of

which will confirm

that your prospect

is moving ahead. Tom HopkinsAuthorHOW TO MASTER THE ART OF SELLING



5. Trial Closes

Trial closes are questions you use to test the watersyou genuinely want to nd out whether or not you and the client are in agreement. Th e answer might not be yes, but if it isnt a yes, you need to return to the issue until it is.

Trial closes can be very transparent; for example, during the initial contact, you might say, Weve visited for a while today, let me stop and ask you a few questions to see where we are.

Also called a minor close, a trial close often seeks a smaller decision from the customer before the nal commitment. Not, Are you ready to come in and meet with me, but Can you see how receiving a list of all the new homes on the market in your price range would help you in your home search?

Trial closes are tests of your growing alignment with your customers. Th e answers you get will indicate how close you are to the nal closeand remember, that big win can come at any time.

6. Assumptive Closes

When you are asking a caller to do something, never ask in a way that allows the person to say NO. Give alternate choices, either of which is ne with you. Th e alternate choice approach makes an assumption that the other person will do one of the two things you suggest. By taking command and asking, Which works better for you, Th ursday at 3 or Friday at 2? you assume the close and prevent them from saying no.

7. Tie-Downs

Tie-downs are phrases that ask for con rmation. Expressions like, Wouldnt that be great? or forming questions with cant you? isnt it? and wouldnt you? ask for agreement and get your customer into a pattern of saying yes. For example, you could say, Well save hours of time on your home search if we meet in the o ce rst. Saving time is important to you, isnt it?



Mix and MatchTrial Closes, Assumptive Closes, and Tie-Downs

Th e various kinds of agreement-seeking techniques are not mutually exclusive. Agents often combine them. Your conversation with the buyers should be based around questions that allow you to move the two of you toward agreement. How you approach agreement depends on your personality and on your clients.

Trial Closes Assumptive Closes Tie-DownsHow are we doing?

Does that make sense to you?

Would that be something you want?

Would that be preferable to you?

Can you see yourself doing that?

Does that seem like it would be a good outcome?

Well do an in-depth needs analysis to determine which property will best meet your needs.

I can show you the pocket listings at the consultation.

Well nd you the best property to meet your needs for the least amount of hassle in the shortest amount of time.

Wouldnt that be great?

Cant you?

Dont you?

Isnt it?

Wouldnt it?

Shouldnt it?



Close Any Which Way You Can

Clearly, there are more than seven ways to close. And as we have already stated, theres no better way to close than by simply asking. Taken from SHIFT, Gary Keller includes some of the techniques we have just seen with others to form his personal list of classic closes that work. Learn themand use them!

Th e Hard Close: Lets meet!

Th e Soft Close: Ive really enjoyed visiting with you. Would you like to get together to discuss this further?

Th e Direct Close: Can we meet today?

Th e Indirect Close: Would it be okay if I got you some information to look over and then we can meet to discuss.

Th e Trial Close: Have we gone over enough today that meeting would be our next step?

Th e Assumptive Close: It sounds like we should meet. I am available most times this week so what works best for you?

Th e Negative-Positive Close: Would you be o ended if I asked if we could meet to go over this?

Th e Take Back Close: Ive really enjoyed visiting with you. To be honest, Im not sure if I can be of help or not, but Id be honored if we could meet to nd out.

Th e Tie-Down Close: It would make sense for us to meet in the next day or so, wouldnt it?

Th e Alternate Choice Close: What works better for you? Meeting today or sometime this afternoon or tomorrow morning?

As long as there have been sales, salespeople have been coming up with ways to close the deal. Interview one hundred di erent agents, and odds are you will come up with one hundred di erent closesat least! Pick your favorites and just do it!



Leads to Appointments Ratios

Many agents ask, How many calls should I expect to be making to get an appointment? Th ere are a number of variables. But, assuming you know your appointment-setting scripts well, and are working continuously to improve your performance with them, the three categories in this table are fairly representative.

Agent Experience Level Contacts Made Appointments Set

New-1st Year 125 1

1-5 Years 62 1

5+ Years 35 1

Th ese numbers come from Keller Williams Realty International MAPS coach Tony DiCello. Tony should knowhe spends many hundreds of hours each year coaching agents on accountability to lead generation and appointment setting. And the goal for appointments to listings taken? Tony says MAPS coaches feel an 85 percent success rate is a realistic number for practiced agents.



Criteria for the Appointment

Congratulations! Your prospect has agreed to meet with you. Set the stage for a truly e ective meeting by taking the following points into consideration.

Everyone Needs to Be at the Table

Make sure that all decision makers will be present at the appointment. Building rapport rst with one individual, then with another, is awkward, especially if the people involved have disagreements about buying a house. In addition, some personality types resist ideas that they did not come up with themselvesso the fact that one partner has already agreed with you can actually be a reason for the second person to refuse to work with you. Many rst-time or younger buyers may also be getting advice or nancial assistance from their family members. Ask, Is anyone besides yourself/selves going to be involved in the purchase of the home? If yes, request that they be present at the meeting as well.

Meeting in the Offi ce vs. Meeting at the Property

Your rst and best choice is to meet in the o ce. Terry Moerler is proud of the fact that she has never gone from the phone to the home. She explains to her buyers that she works a little di erently, and prefers to meet her customers and get a feel for their needs before she takes them to see houses. When you meet your customers in the o ce, it puts you in the drivers seat and gives you an opportunity to display your professionalism and the support systems you have at your disposal.

Some agents, however, will meet a buyer outside the o ce when motivated buyers may be thin on the ground in a shifted market. In a buyers market, they have the upper hand and are spoiled for choice. At that point, your priority becomes responsiveness. How urgent are they? If your questioning gives you a sense that you have a motivated buyer on the other end of the phone, it may be worth your while to forgo the o ce appointmentbut NOT the buyer consultation. In this situation, do the consultation right on the spotat the kitchen counter or the nearest co ee shop.

You may also make a decision to meet them at the property based on the location and site of your farm. Steve Cohen, leader of the Steve Cohen Team, in Boston Massachusetts, works in a tight, insular market. Were focusing on sixteen to twenty city blocks. If a prospect calls on one of these listings, well go out and exchange information and email addresses right there. Th en we set up the buyers consultation.

Ill conduct

my buyers

consultation

anywhere,

although I draw

the line at doing it

over four wheels as

I hurtle down the

highway!Shaun RawlsTop Agent



ObjectionsHow to Handle Objections

Relax! Remember that objections are often buying signals. View them as an opportunity to overcome a barrier to making a purchase decision. Develop con dence with your objection handlers, and couple that con dence with knowledge of your areas market and key statistics, key statistics of your own business or your Market Centers track record. You will unlock a path to improved use of your time and increased revenue for the time you spend in your business.

Remain curious rather than judgmental. 1.

Investigate and isolate the real issue. No matter how good your response 2. might be, rst ask questions to explore and gather more information so you can be sure you are addressing the real objection.

Dont argue. When you argue, you only cause the other person to defend a 3. position more strongly.

Objections handling is one of the very best ways for you to demonstrate your expertise in a business-winning way. Tony DiCello, MAPS, advises, Every time you handle an objection, ask for a close. It works.

AEIOU Technique

Th e sequence of steps in handling an objection can vary.

Ask questions1. Get at the real issue by investigating the issue deeper. You might ask questions such as, Can you tell me more about that? or Can you tell me whats important about that?

Empathize2. Acknowledge the buyers concern by saying something like, I can certainly understand how you feel.

Identify the real issue3. Restate what you believe the real issue is.

O er a solution4. Problems appear insurmountable until you know how to solve them.

Urge an agreement5. Use tie-down statements such as, Dont you agree? or Are you comfortable with that?



Common Objections to the Buyer Consultation

I dont want to meet you in your offi ce.

Well, I appreciate that and I understand your concern, but I must tell you, I operate di erently! Before I can satisfy what you need in your next home, I must rst identify those needs, and that process is done in my o ce. Doesnt it make more sense to spend an hour in my o ce uncovering your needs than spending hours driving around looking at homes hoping we stumble upon the perfect one?

Were standing in front of the house. Cant you just come and show it to us?

Well, I want to show you the best and easiest and most e ective way to nd a house. Why dont we meet for fteen minutes and Ill take down exactly what you are looking for. Once weve determined that, Ill send you an email of every single home that matches your criteria. My program will save you time, because once we gure out what you are looking for, everything that matches your criteria comes to you, rather than you going out and trying to nd the house. You make the decision and you are in control. As soon as you nd a home that works, I will get you in to it.

I dont need a Realtor. I can fi nd houses on my own.

Well great, but here are a few things to consider. It can be very time consuming. Many of the homes you see listed in advertisements and on websites are already sold or under contract. Many properties are not advertised at all. Th ere are over xx properties listed for this area. With my access to the MLS and my real estate contacts, I can search them all for you. For example, would you be interested in getting a discount of 2030 percent on a HUD property of foreclosure? I can search for those as well.

Were going to use the Internet and fi nd our home online.

I can understand why you say that, but we have found that many times the homes on the Internet have not been updated and may not be available anymore. Youll also need someone to get you inside those homes. You know nding a house is the fun part, and we can do that together, but my real job starts when youve found the house and youre ready to buy it.

DELUXHighlight



I am still in a lease.

Well, since your goal is to move at the end of your lease, now is the time to get prepared. You will have to get preapproved, start your home search, and then nd the house. Once you have found the house, it typically takes a preapproved buyer thirty days to close on their home. So it sounds like the timing is good.

In a Buyers Market: What if the seller were to agree to buy out the remainder of your lease? If that were the case wouldnt you want to get started today?

We want to save money by calling from signs rather than working with an agent.

Well, the good news is it costs you nothing to have me work for you. Th e seller pays the commission. Its a big advantage for you to have an agent on your side. Independent representation tends to make people more honest on the listing side. My job is to get you a better price and better terms on the house you want to own.

KWConnect VideoBuyer Mastery: Lead Conversion

Watch Matt Fetick, a master in action (Courses/Buyer Mastery) for a demonstration of capture, connect, and close scripts.

KWConnect



CultivateJust because someone isnt able, ready, or willing to purchase a property immediately doesnt mean they should be discarded as a lead. If you were not able to close, but did manage to capture their data and make a connection with them, continue to invest in the relationship by cultivating them until they are ready to close for the appointment.

Cultivating Leads for Future Conversions

If you only spend your time with people who are ready to buy now, youll lose the people who you need to be moving along your pipeline to get to the able, ready, and willing status. You have to stay in frequent contact because you dont know when a buyer is going to step up and say, Im ready. An analogy is the most dramatic nish in the history of baseball. It was game one of the 1988 World Series between the Oakland Athletics and the Los Angeles Dodgers. Kirk Gibson of the Dodgers had a bad knee injury from the National League Championship series and was not expected to playhe couldnt run. In fact, the only way hed even be able to make it to rst base was if he hit a home run. Fast forward to the bottom of the ninth inning, tie game. Gibson is put in as a pinch-hitter. Its a 3-2 pitch. Gibson swings and hits a y ball to right eld. Its a home run and the Dodgers win the game 5 to 4! You dont always know in advance when an unlikely buyer may turn into a golden opportunity. Th ats why you have to maintain good communication with everyone in your pipeline and be there when they are ready to move forward with the home purchase process.



BINSYour Cultivation Autopilot

A Buyer Instant Noti cation System (BINS) as part of your 8 x 8 Action Plan will e ortlessly and automatically allow you to stay top-of-mind with your prospects. Every dayand often more than once a day, depending on the listings availableyou will be providing them with exactly

Documents

KWU - Buyer Mastery - [stud] manual step 1 v1.1.pdf