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Shift 12 Tactics


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How Top Agents Tackle Tough Times

Published in: Real Estate, Business, Education

Shift 12 Tactics

  1. 1. It’s Not About the Market! How Top Agents Tackle Tough Times
  2. 2. Top Agents Say: “ The changes we made have increased our market share in our target market from 19% to 28%.” Bob Guest, TX “ Get back to what really works in all markets.” Gene Rivers, FL “ Agents using these strategies and activities are currently producing at a level higher than they were before the shift.” Dianna Kokoszka, TX
  3. 3. 12 Tactics for Tough Times Work Smarter not Harder! As a business owner, you have the responsibility and the right to choose the best course of action for your individual real estate practice.
  4. 4. Tactic #1 <ul><li>Get Real, Get Right </li></ul><ul><li>Rethink! Restructure! Refresh! Reenergize! Reinvent! </li></ul><ul><li>Double your focus, intensity and efficiency. </li></ul><ul><li>Control your outlook and your response. </li></ul><ul><li>Find the seeds of failure you sowed in times of success. </li></ul>
  5. 5. Top Agents Say: “ I realized I need to bring my business back to basics. I’m finding that I’m now able to motivate myself and time block, which has completely changed my business.” Christina Valkanoff, KW North Raleigh “ Wherever the market is going, Shift convinced me that I already have the knowledge and expertise that my sellers need to ‘get it sold’, now!” Bill Fletcher, KW Cary I’m taking control of my mindset, and taking control of what my business will be in 2009. My attitude and my response to this shifting market is more important than what’s happening in our market. Diana Riddle Kaber, KW North Raleigh
  6. 6. Keller Williams Realty: “ To help the mindset of our agents we provide access to over 7,000 hours of audio and video with highly successful agents around the nation. We believe that sharing knowledge brings a clear focus and positive attitude to everyone.”
  7. 7. Tactic #2 <ul><li>Expense Management </li></ul><ul><li>Check your spending habits. </li></ul><ul><li>Protect your margin. </li></ul><ul><li>Get your money smart again. </li></ul>
  8. 8. Top Agents Say: “ In to survive in a shifted market, you have to throw out the mentality of selling more houses to justify expenses and manage your P&L.  Once your costs are manageable, just image how profitable you’ll be when the market picks back up.” Greg Ismay, KW North Raleigh “ I use the chart of accounts in the MREA book. It’s changed my business. I now have more control of my money. I know where its going and when its coming.” Christina Valkanoff, KW North Raleigh
  9. 9. Keller Williams Realty: “ For years we have taught our agents two important principles: - Lead with Revenue - - Red Light, Green Light - Ask any top KW agent. They will be able to explain what these principles mean to their business model.”
  10. 10. Tactic #3 <ul><li>Do More With More - Leverage </li></ul><ul><li>Learn the six core competencies of your business. </li></ul><ul><li>Simplify your organization. </li></ul><ul><li>Train your talent. </li></ul><ul><li>Upgrade your systems. </li></ul><ul><li>To grow, let go. </li></ul>
  11. 11. Top Agents Say: “ Now I know I’ve got to get rid of the time consuming activities and focus on the money producing activities.” Christina Valkanoff, KW North Raleigh
  12. 12. Keller Williams Realty: “ One foundational piece of the Millionaire Real Estate Agent has always been Leverage . We give our agents systems with power to build their business as far as they can on their own. Then we show them how to hire talent. Real talent.”
  13. 13. Tactic #4 <ul><li>Find the Motivated – Lead Generation </li></ul><ul><li>You are in the Lead Generation business. </li></ul><ul><li>Stop doing what doesn’t work. </li></ul><ul><li>Figure out what works. </li></ul><ul><li>Master your message. </li></ul><ul><li>Master your method. </li></ul><ul><li>Ramp it up. </li></ul>
  14. 14. Top Agents Say: “ You have to lead generate at least three hours per day especially in this “shifted” market.  That’s our job – we are in the lead generation business!  What worked last year doesn’t work this year.  You’ve got to change your mindset and “Just Do It.” Michelle Edwards, KW North Raleigh “ Marketing provides great leverage, but it costs money.  Lead generation is a much more cost effective way of generating business.” Greg Ismay, KW North Raleigh
  15. 15. Keller Williams Realty: “ Our agents know the difference between “Lead Receiving” and “Lead Generating”. Lead receiving leaves an agent dependent on their broker. When the market shifts, they don’t know how to survive. Agents who have developed systems for lead generation will thrive in any market.”
  16. 16. Tactic #5 <ul><li>Get to the Table – Lead Conversion </li></ul><ul><li>Capture  Connect  Close </li></ul><ul><li>Develop a talent for cultivation </li></ul><ul><ul><li>8 x 8 </li></ul></ul><ul><ul><li>33 Touch </li></ul></ul>
  17. 17. Top Agents Say: “ You have to know your scripts and when you do, conversion should be your most profitable activity.” Greg Ismay, KW North Raleigh “ Most agents never master lead conversion. In a sellers market, anyone could convert a lead. Now you have to be a master at your scripts, dialogs and listening skills. I was an average agent who happened to be working in a strong market. Now, I’m a great agent working a slow market.” Keith Bliss, KW Cary
  18. 18. Keller Williams Realty: “ The basis of our agent success has always been their 8x8, 12x12 and 33 Touch programs. We provide many resources so each agent can build their programs efficiently and quickly. In addition, we have mastery scripts and dialogs that guarantee consistent lead conversion.”
  19. 19. Tactic #6 <ul><li>Internet Lead Conversion </li></ul><ul><li>Create and Maintain an Internet Presence </li></ul><ul><li>Lead Generate for Traffic </li></ul><ul><li>Capture  Connect  Cultivate  Close </li></ul><ul><li>Communicate; Share information and validate your </li></ul><ul><li>credibility </li></ul>
  20. 20. Top Agents Say: “ The majority of my business comes from internet leads. Using the latest tools is a key factor in building my business.” Bob Fortner, KW North Raleigh
  21. 21. Keller Williams Realty: “ For only $10 a month, our agents get a robust website with IDX services and many other cutting edge tools. We consistently have educational sessions on Internet Lead Generation and encourage our agents to use all the resources we make available to them. In addition, all leads from listings go straight to the listing agent.”
  22. 22. Tactic #7 <ul><li>Seller Pricing Strategies </li></ul><ul><li>Find the window of opportunity. </li></ul><ul><li>Develop the art of pricing persuasion. </li></ul><ul><li>Don’t chase the market, make the market. </li></ul><ul><li>Don’t allow your seller to buy back his home. </li></ul>
  23. 23. Top Agents Say: “ Shift gave me the tools to show my clients the wisdom of ‘pricing ahead of the market’ and get it sold, now!” Bill Fletcher, KW Cary At a recent listing presentation, while competing with two other high producing agents for the business, I drew the graphs on pages 150-153 regarding being &quot;in the market&quot; and &quot;out of the market&quot; with regard to price and condition of their home.  Rather than challenge me about my lower price for their property, they embraced the concept and became very motivated- settling on a price that was actually LOWER than what I had come up with.  They also agreed to several updates I had encouraged them to do!  WOW! CaraLynn Telford, KW Cary
  24. 24. Top Agents Say: The key to earning a commission is the ability of an agent to explain the market to their clients and ensure their clients price their home appropriately. If the house is not priced ahead of the market, the house will not sell. CB Johnson, KW Wilmington
  25. 25. Keller Williams Realty: “ We make top quality productions and presentations available to all our agents so they can become the local Economist of Choice. They know the local market and the national market statistics. And they have access to powerful scripts to lead their sellers to self-discover the right price to get their home sold.”
  26. 26. Tactic #8 <ul><li>Seller Staging Strategies </li></ul><ul><li>Nationally staged homes sell in half the time and for 6.3% more money. </li></ul><ul><li>Stage for the buyer – from Curb to Close. </li></ul><ul><li>Internet pictures MUST capture the eye of the buyer. </li></ul>
  27. 27. Top Agents Say: “ I stage every house I list. It makes the house appeal to every buyer.” Christina Valkanoff, KW North Raleigh
  28. 28. Keller Williams Realty: “ We encourage all our agents to stage their listings. Staging principles are taught in our Market Center on a regular basis. We have hours of videos of top agents convincing sellers to stage their homes that our agents can watch at any time. Our agents have the resources to become trained staging consultants.”
  29. 29. Tactic #9 <ul><li>Create Urgency – Overcoming Buyer Reluctance </li></ul><ul><li>It’s impossible for a buyer to “Time the Market.” </li></ul><ul><li>Become the local Economist of Choice. </li></ul><ul><li>Discover their true motivation. </li></ul><ul><li>Address their reluctance. </li></ul>
  30. 30. Top Agents Say: “ With the support of our strategic partners I can give my buyers a full-service system with one stop shopping for the services they need . This reduces stress for my buyers, and me!” Kim Pappalardo, KW North Raleigh Shift showed me how to convert lookers to buyers! After all, they call it a ‘buyer’s market’ for a reason! Bill Fletcher, KW Cary
  31. 31. Keller Williams Realty: “ Because our business model encourages positive interaction between our agents, we see a lot of teamwork. Creating a Best Buy list is just one idea we are using as a Market Center to bring in qualified and motivated buyers.”
  32. 32. Tactic #10 <ul><li>Creative Financing </li></ul><ul><li>Creative Sellers </li></ul><ul><li>Creative Buyers </li></ul><ul><li>Creative Lenders </li></ul><ul><li>All three players can bring creative solutions to the table to get a house sold. </li></ul>
  33. 33. Top Agents Say: “ A large portion of my buyers are investors. Creative financing is the crux of my business. I make sure to structure every deal as a Win-Win.” Kim Pappalardo, KW North Raleigh
  34. 34. Keller Williams Realty: “ Our agents are trained to seek out creative financing solutions. We also have a significant education opportunities to help them recognize loan fraud so they can advise their clients when they face a multitude of financing choices.”
  35. 35. Tactic #11 <ul><li>Mastering Short Sales, Foreclosures, & REOs </li></ul><ul><li>Master the Market of the Moment </li></ul><ul><li>The downward cycle of Defaults and Home Prices </li></ul><ul><li>Become the Workout Specialist and clients will appear </li></ul><ul><li>Time consuming but profitable processes </li></ul>
  36. 36. Top Agents Say: “ I’ve learned you have to be willing to give it your all when working with the short sale, foreclosure and REO market.  The process is very time consuming, but rewarding in the end.” Michelle Edwards, KW North Raleigh In this market you have to working on systems to take advantage of the opportunities that these selling strategies provide. Greg Ismay, KW North Raleigh
  37. 37. Keller Williams Realty: “ Through our national referral potential and specific training regarding short sales and REOs, our agents are well qualified to bring closure to sellers in crisis.”
  38. 38. Tactic #12 <ul><li>Bulletproofing Transactions </li></ul><ul><li>Sharpen your sales skills </li></ul><ul><li>Never assume a contract will close </li></ul><ul><li>Educate your clients about the process </li></ul><ul><li>Know the six “Moments of Truth” during each transaction </li></ul><ul><li>Contract to Close systems are critical tools </li></ul>
  39. 39. Top Agents Say: “ Systems, Systems, Systems! You have to follow-up and use your technology tools more than ever. I know I’ve evaluated my habits and business choices. Basically, if it brings a deal to close, we continue to do it. If it doesn’t bring in business or get us to the closing table, we’re discarding it . ” Ida Terbet, KW North Raleigh
  40. 40. Keller Williams Realty: “ We all know that if you don’t close you don’t get paid. We offer powerful tools; interactive learning; and agents who love to help each other. With all Keller Williams has to offer, our top agents are consistently bringing 100% commission checks home to their families.”
  41. 41. Keller Williams Mission Build careers worth having, businesses worth owning and lives worth living!
  42. 42. Keller Williams Values W in – Win or no deal I ntegrity – do the right thing C ommitment – in all things C ommunication – seek first to understand C reativity – ideas before results C ustomers – always come first T eamwork – together everyone achieves more T rust – starts with honesty S uccess – results through people
  43. 43. “ As a professional business owner, you know how important it is to know your options. A short conversation with our Team Leader will give you the power of making future decisions with a knowledge of all options available to you.”