Topic 3: Prospecting. Your Coach. Contact Info. Shon Kokoszka. Mega Buyer Agent Skills

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1 Your Coach Shon Kokoszka Contact Info Please let us know if there is anything you d like to discuss in relation to your coaching program. fasttrack@kw.com Fax: Phone: ask for MAPS Group Coaching Notice While Keller Williams Realty, Inc. (KWRI) has taken due care in the preparation of the coaching program, the material contained herein reflects the practices of the coaches and is not necessarily the best practices promoted by KWRI. We cannot guarantee the accuracy of the materials. KWRI makes no warranties, either express or implied, with regard to the information and programs presented in this manual. KWRI will not accept liability for any loss or damage of any kind that you incur as a result of the use of any content provided by the MAPS Institute. KWRI therefore cautions you not to assume that the results of this exercise bear any relation to the financial performance you can expect as a KWRI associate. The coaching program is offered to support your professional growth by directing you toward productive activities. Copyright notice: All materials are copyright 2014 Keller Williams Realty, Inc. All rights reserved. No part of this publication and its associated materials may be reproduced or transmitted in any form or by any means without the prior permission of Keller Williams Realty, Inc. 1

2 Get Ready! Complete the questions on this page as a warm-up to prepare for your coaching call. What are your best sources for prospects? What are your most effective prospecting strategies? What are the prospecting strategies you have considered, but haven t used? What prevents you from using prospecting strategies you haven t tried? Aha s from the Last Call 2

3 Guidelines for this Course 1. Only paid participants may listen and contribute. 2. Mute yourself whenever you are not talking (*6). 3. Do not put the call on hold (you will be disconnected). 4. Complete all assignments prior to call. 5. Be PREPARED! This Week s Objectives 1. Identify the best sources for prospecting. 2. Implement scripts to use with FSBO prospects. 3. Use open houses to find people actively looking to buy a home. 4. Use publications and surveys in your prospecting campaign. 5. Host housewarming parties to generate business. 6. Develop a prospecting strategy. 7. Use prospecting statistics to evaluate your performance. 3

4 1. Prospecting Sources Great Sources for Prospects What are the best sources for prospects? Prospecting for Listings All Realtors should prospect for listings, even buyer specialists. Why is that? 4

5 Prospecting for Move-Up Buyers What are the best sources for move-up buyers? Recap Truth Your success working with buyers depends on how well you can prospect and generate business. Focus your effort on the targets and methods that are likely to produce the best results. Try different prospecting techniques with different demographic populations. What works with one group won t necessarily work with another. List the targets and strategies that you think will work the best for you. 5

6 2. FSBO Prospecting Scripts FSBO Script for Buyer Specialist: Get the Buyer Side of the Deal May I speak with Mr. or Mrs. Seller please? Hi Mr. or Mrs. Seller, this is your name with name of your office. I m sure that several Realtors have called looking to list your home. I m not calling for that purpose. You see, I m a buyer s specialist, meaning all I do is work with buyers. In fact, 100% of my time is spent helping buyers find the right home. So, let me ask, where do you plan on moving? Let the seller know Ask for If the seller is moving out of the area There are additional questions you can ask to gain business, especially if you have not presented yourself as a buyer specialist. FSBO Script: Find a Buyer Let me ask, if I had a buyer willing to pay a price acceptable to you, would you consider that offer through my company?* If the owner is amenable to selling the home to one of your buyers, ask about the home. What else do you want to do? *This language is from Jerry Bresser. 6

7 FSBO Script for Listing Specialist: Listing with a Broker Is there a timeframe that you have given yourself to sell your home on your own before you list with a Broker? Gauge the FSBO s interest in working with you and keep in touch. Recap FSBOs are good prospects with a number of opportunities: Find a move-up house for the seller. Give a referral for a move out of the area. Locate a buyer for the FSBO. Get the FSBO listing. 7

8 3. Open Houses Open House Procedure Prior to the Open House Send an invitation to all homeowners in the area. Preview every other home for sale in the neighborhood. Schedule showings for all other homes in the neighborhood during and after the open house. Prepare several packets with all other listings in the neighborhood. Ask your preferred lender to attend the open house. Create Open House Guest Passes (size of business card).* front back Get open house signs and place them for best visibility before the open house begins. * Dianna Kokoszka, TKG Office Systems, RealtorsHelpRealtors.com 8

9 During the Open House Capture contact information (name and phone number) on a sign-in sheet. Tell visitors that the seller requires everyone to sign in. If possible, bring a laptop computer with a wireless internet connection and a portable printer. When visitors tell you what they are looking for, do a search and review available properties with the prospects. Schedule an appointment to visit ones they like. Ask visitors if they are interested in seeing similar properties in the neighborhood. If they are, have the lender cover the open house for you, and take the prospect to see other houses. If your lender is not at the open house, put a sign on the door of the open house and indicate when you will return. Alternatively you could schedule visits immediately after the open house. Distribute Open House Guest Passes. Explain that the buyer should take these to any other open houses they attend and give them to the host Realtor. Benefit of Guest Pass to home buyer? Bring work to keep yourself occupied. Recap Open houses are a great way to find people who are looking to buy a home. What are your Ahas? 9

10 4. Publications and Surveys Establish Yourself as the Real Estate Expert in Publications Before contacting a Realtor, buyers often look at publications that advertise homes. Purchase advertising space and state that you provide free information on every home listed in the publication. Promote yourself as Survey Your Farm Area If you don t ask, you won t know who could use your help finding a home. Conduct a brief telephone survey. Sample Questions When do you plan on moving? Recap Publications and surveys provide opportunities to get your name in front of people. Business often goes to the person who asks for it. 10

11 5. Housewarming Parties What happens after your client closes and moves into a new home? What do many people do after they move? Offer to host a housewarming party. This is a fantastic opportunity for you to meet your client s friends and family. Attendees will be people who know you were successful finding a home for someone they know and trust. Offer to This gives you Offer to provide food. Get sponsors to provide or pay for the food. Ask the new homeowners to provide beverages. You don t want any liability associated with serving alcohol. Let the homeowners serve what they feel comfortable serving, and assume any associated risk. Have a raffle with a door prize. What kinds of things make good door prizes? Invite the lender, and ask if the lender will help pay for the party. Meet and greet everyone using the FORD technique. We ll discuss this technique on the next call. For now, make sure the conversation is all about the guest. 11

12 Follow Up Send thank you notes to everyone who came to the party. Your note should make the guest feel important. Write the note by hand, and say something personal. Let the guest know that referrals are the lifeblood of your business. Add all invitees to your database, drip campaigns, client appreciation parties, etc. Recap You want to maintain contact with past clients for repeat and referral business. Start your follow-up relationship with a party. It will provide multiple benefits for you. 12

13 6. Prospecting Strategy Prospecting is One of the best things you can do to help yourself is One of the best things you can do to be prepared is To be successful you must Be active. Where should you prospect? Recap You must prospect if you want to generate leads. Realize that you must contact a lot of people in order to find a few people who want to move or know someone who is looking for a buyer s specialist. Use the information above to create and implement your prospecting strategy. Keep in mind that a lot of people are not interested in moving. Don t get discouraged. It takes many contacts to find the few people who want to use your services. Remember, you need to keep your pipeline full, so even if you have clients and leads, you still need to prospect for future business. 13

14 7. Prospecting Statistics How many dials should you expect to make in order to get one contact? How many contacts do you need to generate one lead? How many leads do you need to get an appointment? How many appointments do you need to get a buyer representation agreement signed? How many buyer agency contracts do you need to get a contract on a house? How many contracts do you need to get a closing? Recap Prospecting is Use the above statistics to track your numbers and estimate how many closing you will have. Topic 3 Assignments 1. Practice FSBO prospecting scripts (page 4) with your coaching partner on the phone. 2. Complete weekly numbers form and fax to MAPS ( ). This should be done at the end of EVERY week. 3. Schedule an open house. Make it the best open house you have ever done. Remember, you get out of things what you put into them. 4. Complete the prospecting assignment on the following two pages. Fax both pages to MAPS ( ) within three days of this call. 14

15 Prospecting Strategies Column 1: List the prospecting strategies you currently use. Column 2: Rank/order each strategy according to how effective it is for you. Rank your best strategy as number 1 and continue until you have ranked all of the strategies. Strategy Effectiveness Plan to Improve Strategy Select one or two strategies you think can produce even better results. Write a brief description of how you will alter what you are currently doing to get more leads. Your name: 15

16 New Prospecting Strategy Identify a prospecting strategy you don t currently use that you think might work in your market. Implementation Write the steps required to implement the new prospecting strategy. Estimate the cost. Suggestion Talk about your prospecting efforts with your leader. Together the two of you should track your progress. Share your successes with your MAPS Business Building Coaching team! Your name: 16

17 Weekly Numbers Form NAME: Week YTD 1. How many days did you work this week? 2. How many hours did you spend prospecting? 3. How many new contacts did you obtain? 4. How many Listing appointments did you refer to others in your office? 5. How many listings did you sell? 6. How many Ad and Sign calls did you answer? 7. How many Ad and Sign calls did you convert to appointments? 8. How many other buyer appointments did you set (walk-ins, referrals, etc.)? 9. How many buyer agency contracts did you get signed? 10. How many buyer appointments did you attend? 11. How many homes did you sell? 12. How many deals do you have pending? 13. What is your current pending income? 14. How many deals fell through? 15. How much paid income did you receive? FAX this to