Stop chasing sellers--make them come to you


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Market Leader presentation at Keller Williams Family Reunion 2013. Presented by Kris Olsen and Jerimiah Taylor

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  • KO – can find out who uses eEdge onlyPro tooExplain some of what discussing today is only Pro related…
  • Introduce Agenda—what will learn in this session.Attract:Keys to attracting and generating sellers, looking at tried and true sources, both traditional, new, and bridging the 2 together.Capture:Capture a seller with your eEdge, Pro or Suite siteConvert:Best follow-up strategies for sellers todayJT’s “keys to convert”How to separate yourself in their mindsAdditional notesSellers are goldListings, leads and leverage – w/in KW – their financial modelGet listings to get more buyers, etc. Core to their financial modelStruggle: how to find sellers and attractWe’ll cover key things you need to run your biz
  • Why target sellers?Sellers, what’s the big deal-- Why are sellers so important to our business? Gary says it’s leads listings then leverage so without seller leads how are you supposed to get listings?What financial, marketing and other opportunities do they bring our business?Gary says that sellers should bring a 1 buyer for each properly marketed listing, so if you have seller leads you have buyer leads in turn.Sample Q to JT: what would you choose and why?
  • 1 properly marketed listing = 1 closed buyer (in MREA) add quoteSeller listings = Marketing opportunitiesYard Sign, Direct Mail and Email, MLS, Websites and Newspapers/MagazinesMore control of your timeLess “do it right now” urgency with sellers.Maximize your per/hour compensationLess time to obtain and market a listing Vs. showing dozens and dozens of homes.Volume!Working 15-25 seller listings/month is doable for 1 agent.Working 7-8 buyers/month is difficult.Frontend of Pricing = intimate knowledge of the marketProperly marketed seller listings = more business!On average, 1 well-marketed listing generates 1 serious buyer.“The real estate’s version of a ‘Two-fer’”Let JT talk through thisWhat types of marketing oppties do you have? How does Gary get this conclusion?
  • Look at high level strategy and tipsLook at how to generate leadsThen how to work them
  • page 58How to attract more sellersSeller’s market – sellers are in controlFew homes on the market, many buyersSellers get paid well for their homesFewer sellers – agents must pay more money to win over home owners, stand out over other agents, be more frequent and consistentBuyers marketShift – must work it more, start pumping up more moneyWhat type of market are you in? What can you expect from a seller’s market? A buyers’ market?Message – get your Tucson – distressed market; can ask him about that
  • If you have listings to advertise, here are some strategies…Memorable signAgent who had big spread eagle picture of himself“Oh, you’re that guy”Stand out when it comes to your marketing – like purple cowJT – had big drop in calls when switched signs
  • If you don’t have listings, here are some strategies…tried and trueReach out to fsbo’s—Fsbo’s on CL-- email an email with ss of “x leads” in suite account…. “I have a buyer that needs to buy a house in your neighborhood”Image = sample of a CL adTakes screen shot of list of buyers in his sytemI have x number of buyers looking in your areaIf I can help you find buyer, would you be interested in my listing it for you? FSBOs – Q: this is a great ad. What are the different places you’d use this? What’d you say to FSBOs or sellers when you’re doing your marketing?
  • Many of us are familiar w/off line strategiesBut we aren’t doing them because they’re painfulDo generate results if consistent at doing themOnline strategies – new, not many of us have mastered themHow many of you in audience have mastered finding seller leads online? Lack of geo-targeted calls to action”!Buyers type in: Seattle homes, or San Diego Waterfront condos”—though still competitive, these are much easier for agents to rank for… and get leads in the areas they serve.Seller’s type in “what’s my home worth”, or “value of my house”—they rarely type in “what’s my home worth in Seattle”, thus you’re always competing with huge names on Google and if you do succeed in getting your site up—you’re rarely getting leads in an area you serve—so the investment isn’t worth the time.You’re generating leads from all over the countryHard to compete with the large guys do this
  • So how do you do this?
  • Q: Buys and sells, what does that mean to you? When I generate my buyer leads, they often become seller leads tooI ask them Qs, learn more, discover they want to sell tooKO – can ask re: Qs he asks to learn they’re seller leadsWay to generate seller leads
  • Works his past client databasePuts them on MI emailsSuper easy, report that goes out automaticallyLearn more? Go to our boothQ: why does he love this so much?
  • Which part of CL do you post this? Do you link this? If so, to what page?
  • Another sample CL ad – home he’s sellingCL posting tool – pro tool available to Pro and Suite usersJT adds cool code: Includes a link: “have a home to sell?”
  • Landing page for “home to sell?”
  • Niche marketingHow to sell your home with tenants in the propertyMore specific– less visitors but more return on traffic1031 exchangesInvestmentsShort sales– upside down on second mortgage but not firstPost on “custom page”, people that are getting divorced. “people go to google and type in confidential divorce specialist”This strategy is focused on “what” to do, not “where” to beQ: why focus on a niche? Will get few hits, but hits you’ll get are high quality’Where do you put these ads?
  • Niche marketingHow to sell your home with tenants in the propertyMore specific– less visitors but more return on traffic1031 exchangesInvestmentsShort sales– upside down on second mortgage but not firstPost on “custom page”, people that are getting divorced. “people go to google and type in confidential divorce specialist”He blogs then drives people to specific pages on his website
  • This is an example of one of his blog posts featuring his listing
  • This is the landing page from his blog postEverything he does points to his ML Pro site
  • You’ve been known to call Online CMA requests the “golden goose”… what do you mean by this?Can play devils advocate here =- why would you pay for someone to generate lads for you? Why pay for a CMA request if you can generate your own seller leads?
  • Tell me about the different subscriptions you haveHV is a lead service you use? How long have you been using it? KO or JT demo how lead capture form worksPublic site, well known, launched in ….2002?Lead generated, shows up in your CRMAvailable to eEdge, Pro, SuiteLet’s dive into the exclusive lead network of HouseValues and … so you understand how leads are received and the information those leads are requesting from you.Perhaps do devil’s advocate here
  • Kris– lots of animations on this one so get familiar with the clicks.Order:Click 1: Ask JT: give us a brief overview of how long you’ve been with HouseValues and what you’ve put into it. How many leads did you get?Click 2: So fast forward 100 days– where are you at now?Click 3: Wow– that’s a 35:1 ratio. So for every dollar you’ve spent…Click 4: you’ve received $35 dollars back… not a bad ROI, huh?
  • We also do sell seller leads through RE.com75% so far of the leads are seller leadsIf you’re looking for a solution and HV is sold out, may be availableKO – inform; don’t be salesyAnother strategy, if you’re interested in the paid route
  • Some things you get wit
  • Two strategies – Do paper card w/branding for yourselfDirects people to your own Pro siteOr can do marketing to a larger siteIf you’re doing exclusive leadsCan cast a wide net, see which type of site captures more busienss for youCustom tab – proDrives people to his other site w/a calculatorKO – don’t ask him re: his strategies hereThese are our ideas Just intro these as additional strategies agents can leverage
  • Recapping re: generating leadsBefore moving to converting leadsPick 2-3 strategies to do first! (NOTE– any given agent can have lots of success with any singe strategy when executed properly and consistently, but top agents rarely just do 1 method. So it’s not a matter of which ones you will do… but which ones you will do first!) Analyze your results. Be honest… try different follow-up methods for different types of lead generation efforts.
  • How fast is fast? What about after hours?
  • % of your leads that come in w/#s?Do you try to get more numbers? What do you say?
  • This is a daunting task for most agents I talk to. Why do you do this? Why? When? How? Script?Do you really think it’s necessary? Has it had any impact on your business?
  • What’s mind share? How do you create it?
  • Strategy Gary Keller gave in book, ShiftIn a shift from buyers to seller’s market, trying to pump up your seller marketingTo also increase your 8x8 to a 12 x 12 Increase # of touches over # of monthsJT said – make the additional touches personal contacts
  • Creative ways to get people engagedSample MI email
  • Note for Kris:This is tool you talked about last year…Give us a brief summary of the toolI know it’s in Pro and SuiteCan you explain how you use this? Esp since this is normally for buyers…Purpose:Jerimiah uses this with sellers and FSBO’s as a talking point, saying “if you list with me– I just need a couple days to put it on the MLS and blast it out to my database of active buyers to see if anyone is interested. For seller’s this is a talking point– but the visual shows how he executes this idea.Last year, used his $50k GCI stat
  • Report – shows results you’re generatingCool to talk w/sellers re: how you’re doing sales for them
  • JT uses the 8x8, 33 Touch and Distressed Seller campaigns.eEdge campaigns are fantasticGive KWRI kudos – some of the best seller campaigns I’ve seen as a trainerEncourage everyone to use themIf have Pro, campaigns enable you to get more targeted to niche marketsAdditional seller focused campaigns
  • Stop chasing sellers--make them come to you

    1. 1. Stop Chasing Sellers– Make Them Come To You!
    2. 2. Meet Our Featured Expert! Jerimiah Taylor Team Leader, San Diego, CA Lead Agent, Tucson, AZ “Rising Star of 2012” Arizona State Association of
    3. 3. What Will You Learn Today?• Where to find listing leads• How to attract more Sellers• Capture &
    4. 4. Sellers vs. Buyers: What would you choose?• Someone who would like to: – List a $200,000 home – Buy a $200,000 home?
    5. 5. Why Seller Leads are Awesome!• Seller listings = marketing opportunities• More control of your time• Maximize your $$ earned per/hour• More volume• You are on the front-end of pricing = Intimate knowledge of the market• Generate more business – Plus: US home inventory is tight; sellers are a premium!!! “…On average, one well-marketed listingwill generate one serious buyer who buys…It’s the real estate industry’s version of the ‘twofer.’” “The Millionaire Real Estate Agent” by Gary Keller
    6. 6. Timeline• Typical sellers “think” for 6-12 months*• 65% of sellers use the first agent they contact to assist with their home sale. **• The majority of sellers interview only 1 agent (and spend less than 1 day interviewing!)**• Engaging with a consumer early and having the tools to stay in touch is a huge competitive advantage!• Short-term thinking causes “Peaks and Valley’s” in your income stream * Hebert Research 2012 ** NAR Home Buyers and Seller’s report
    8. 8. General Principles• Be Proactive, Not Reactive• Sellers’ Market: – Spend more marketing $$ to get listings that are in high demand• Buyers’ Market: – You can spend less marketing $$ to get more listings.• In a shift from buyers’ to sellers’ market – Pump up your marketing $$ quickly! “Your message must match – Shimft Tac your market” - Gary Keller Shift Tactic #4: Find the Motivated—Lead
    9. 9. Offline Strategies• Have listings to advertise? – Memorable signs – Nice property – Areas near house – Neighborhood
    10. 10. Offline Strategies• Without listings – Cold calling: • FSBO’s • Expireds – Work your Sphere • Past Clients • Core Advocates – Geographic Farming “I have a buyer that needs to buy • Direct Mail to targeted a house in your neighborhood” mailing lists • Door knocking • Business to
    12. 12. Why aren’t seller leads easy to generate online?• The way consumers search isn’t geo-targeted!
    13. 13. How?
    14. 14. #1 Buys and
    15. 15. #2 Past Clients• Add these leads to Market
    16. 16. #3
    17. 17. #3
    18. 18. Drive Homeowners to Your “Sell” Tab• Drive homeowners from your blogs, niche websites, Craigslist and social
    19. 19. #4 Think “Niche”• Why? – Specific = Smaller audience but more return on your traffic• Examples – 1031 Exchanges • “Using 1031 exchange to trade into tenant in common property” • “Can there be more than one property in a 1031 exchange” – Investment Properties • “Investment properties for sale with tenants in them” – Short Sales • “Upside down on the second mortgage but not the first” – Divorce • “Confidential divorce specialist to help me sell my home”
    20. 20. #4 Think “Niche”• Attorney Assisted
    21. 21. #4 Blogs and Social
    22. 22. #4 Blogs and Social
    23. 23. #5 Paid Online CMA Requests• Golden Goose?• Guaranteed and Exclusive
    24. 24.
    25. 25. Have you seen success with HouseValues? • Overview: • After 100 days – Started in September 2012 – Converted 8 into sales – Received 189 Leads to date – Gross commissions earned: – Invested $1,122 to date $40,000 – Net Commissions Earned:For every $1 I’ve spent $38,878with HouseValues, I’ve received $35 back!
    26. 26. Welcome to
    27. 27.• Guaranteed Leads• Exclusive Leads and Areas• One Agent per City• 75% Seller
    28. 28. #6 Bonus: Combine Offline with Online Lead Capture!• Create a marketing piece with an online call to action for lead capture• Use your Custom Page with Pro!
    29. 29. Make More Sellers Come to You!• Be Committed!• Be Consistent!• Capture! – Use your eEdge or Pro site “Go get your unfair share!” Gary Keller, SHIFT • Market Insider • Sell Tab • Custom Page • • • eAgenC
    31. 31. Keys to Convert1. Respond
    32. 32. Keys to Convert1. Respond Immediately2. Make a Phone
    33. 33. Keys to Convert1. Respond Immediately2. Make a Phone Call3. Schedule a
    34. 34. Keys to Convert1. Respond immediately2. Make a phone call3. Schedule a hand-delivery4. Create mind
    35. 35. Create Mindshare1. Follow-up every 48 hours2. Focus your questions on their motivation3. Add them to a customized drip campaign4. Make additional “touches” personal contacts. “People do business with you, not with your marketing”
    36. 36. Other Creative Strategies?• Use Market Insider data or reports in your emails to elicit a response “Great news if you have a growing family… Did you know that schools in 98034 are rated twice as high as 98033, and the homes are cheaper in 98034! Get more space and better education for your kids! See for yourself here.”• Take a photo of a seller prospect’s home and make a flyer to market to them• Property
    37. 37. Jerimiah’s $50,000 secret: Property Blast!• Highlight new listings and work two sides of a
    38. 38. Email Listing
    39. 39. Seller Targeted Campaigns• eEdge Library: – 8x8 Seller Secrets – 33 Touch• Pro Library: – Distressed Sellers – Thinking about selling? – Website Follow-up
    40. 40. RECEIVE A FREE COPY OF THIS PRESENTATION: TEXT “KWFR” TO 59559 OR VISIT WWW.MARKETLEADER.COM/KW/KWFRVisit booth 931 to unlock an iPad mini and enter foryour chance to win free leads for life!