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GET UP TO 9% LISTING COMMISSION
- 1. How to Get up to 9% Listing Commission
- 2. 95% of the business is done by 5% of real estate agents Average GROSS salary of a real estate agent for 2017 87% of real estate agents don’t make it past 5 years in the business
- 3. #1 Thing- CONFIDENCE Click here
- 4. KNOW YOUR STUFF AREA • Schools • Price Range based on condition • Preview – Competition & Coming Soons • Drive by Solds • Call Listing Agents (Condition) • New Construction (nearby competition) • Community Features DO NOT TRY TO FAKE IT TIL YOU MAKE IT
- 5. What’s coming • New Developments, schools, retail, restaurants etc. • Builders are great resources for area information • Neighbors are also a wealth of information Market Test • Buyer’s Market or Seller’s Market (driven by inventory) • Price Range based on condition and seasonality of the real estate market (May- August most homes sale) MUST PRICE AHEAD OF IT!!!! KNOW YOUR STUFF
- 6. • EDUCATION • Degrees – Michigan State University • BA- BUSINESS ADMINISTRATION • MBA, MANAGEMENT • Designations • SRS • ABR • MRP • CSSN • SFR • AUTHOR • Professor of Real Estate • 23 years experience • Organizations (Greek, Trade, etc.) • INTERNET PRESENCE • HOUSEHOLD NAME KNOW YOUR VALUE
- 7. VALUE PROPOSITION Seller Consultation • Show 184 Task • LISTING STRATEGIES • INCENTIVE STRATEGIES • SELLER’S MARKET STRATEGIES • BUYER’S MARKET STRATEGIES • 8 QUICK FIXES TO INCREASE VALUE • INTERNET PRESENCE • VALUATION PROCESS • MARKETING STRATEGIES VALUE PROPOSITION
- 8. Considerations Before Taking the Listings Sellers are motivated Price is within range Location is desirable Condition is excellent Seller willing to repair Great "Curb Appeal" Easy to show Financially possible Sellers are not motivated Seriously over-priced Difficult location Needs lots of work Not willing to repair No curb appeal Very difficulty to show Financially unlikely Probate Divorce YES NO
- 9. Can be done a variety of ways: LISTING PRESENTATION 1.Pre-Listing Checklist (pre-screening) 2.Due diligence 3.Property walk through 4.Seller Consultation 5.Presentation 6.Close 1.Due diligence 2.Seller Consultation (includes questionnaire) 3.Presentation 4.Property Walk through 5.Close
- 10. We have 2 jobs: Market the Property Take care of you! LISTING PRESENTATION Second Slide: Let them know what I am going to do
- 11. • SHOW VALUE • Reducing commission is hurting our industry as a whole • In the absence of VALUE, $$$$ becomes an issue • The TOP requirement of sellers, according to NAR, is that they want their Realtor to make sure they are getting their home in front of every qualified/ interested buyer • Your listing presentation should document HOW: where buyers come from and how you are marketing to those buyers PRESENTATION
- 12. WHERE BUYERS FOUND THEIR HOMES • Internet: 51% • Real Estate Agents: 33% • Yard sign/open house sign: 8% • Friend, relative or neighbor: 4% • Home builder or their agent: 2% • Directly from sellers: 1% • Publications: 1% * Survey from the NAR
- 16. Be prepared • Due diligence: ownership, competition, neighborhood, etc. • iPad/computer: visual CMA presentation • Value proposition • Marketing presentation • Reverse prospecting • In-house marketing to eXp agents (over 12,000)** • List on the MLS** • Internet marketing** • Global Marketing • Review the forms that they will sign electronically • Review the listing and selling stages • Thank you gift LISTING PRESENTATION
- 17. • Review your PARTNERS/Auxiliary Companies • Community National Title • Gold Financial Services • Wisdom Property Inspections • Primerica Showcase HOW they will assist with the selling their home! LISTING PRESENTATION
- 18. You MUST spiral your value Commission is NON-NEGOTIABLE ONLY Present 3 Options Close 7% Listing Commission • Signage • MLS • Open House • Social Media Campaigns 8% Listing Commission • Signage • MLS • Open House • Coming Soon Marketing • Facebook/IG/Linkedin/T witter Campaigns • Single Property Website 9% Listing Commission • Signage • MLS • Open House • Coming Soon Marketing • Syndicated • Realtor.com plus • Facebook/IG/Linkedin/Twitter Campaigns • Virtual Tour • YouTube • Single Property Website • Craigslist • Landing Page • Text Blast • Blog Posts • Interactive Voice Response • Print Flyers • eFlyer Campaigns
- 19. Close $300,000 9% = $27, 000 8% = $24,000 7% = $21, 000 Highlight the small difference is equivalent to 1 month mortgage payment Will sell faster with maximum exposure
- 20. 70/30 Split w/6% Franchise Fee = 36% $300,000 $12,000 GCI Agent: $7680 Broker: $4320 20K Cap 5 Deals to Cap $38,400 $300,000 $12,000 GCI 80/20 Split Agent: $9600 Broker: $2400 16K Cap 7 Deals to Cap $67,200
- 21. Can You Do it?
- 22. Cheering Works Click here
- 23. More Mastermind Classes 1. How to turn CONTACTS into CONTRACTS 2. How to Get a Clear to Close 3. How to Avoid the 10 Common Contract Mistakes 4. How to Price Right: Effective CMA’s 5. Social Media Masterminds 6. How to Win with Sellers 7. How to Win with Buyers 8. Do’s and Don’ts of Social Media 9. How to Become a Seller Superstar 10. 20 Listings in 30 Days 11. How to Build a Dynamic Database 12. Introduction to eXp Realty
Editor's Notes
- Listing at 7% with a Seller Side = 4%.....