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best practices Flashcards

1
Q

most important thing for success in real estate

A

Consistency is the most important thing, are you willing to pick up the phone every day and knock on doors

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2
Q

what colors to wear when door knocking

A

Wear off colors like pink or blue shirt when door knocking so they dont think you are a mormon

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3
Q

what to say (use) when door knocking

A

“Hot market script” to use when door knocking-find listings that you or your company just sold in the area, say, my name is derek, the reason im stopping by is to let you know that x amount of homes have sold in the past 30 days and did you know that 15 have sold above their asking price, or in 30 days or less (bringing value is going to separate you from the competition)

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4
Q

what to bring with you when door knocking

A

business cards and ipad to show pictures of your listings

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5
Q

what to say if seller says he already listed his property on websites and classifieds

A

advises that he might even get more than he was listing it for which would make up for the century 21 fees

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6
Q

how to make people more comfortable when first meeting them

A

One of the ways you can make people feel more comfortable when first meeting is by raising their vibration!

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7
Q

what to do in the morning

A

go to the gym or read

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8
Q

what is the automatic dialer called

A

mojo

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9
Q

what should you not put on your flyers

A

don’t put the price, so that people have incentives to call you

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10
Q

why should you keep following up with people

A

if you keep reaching out after 3 months there is less competition. Also, if someone says follow up in 3 months, cut it in half
Don’t be concerned about being pushy, or to aggressive, you have to get through the sales wall, if someone says your being to aggressive, say to them, please don’t misconstrue my enthusiasm for pressure

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11
Q

sales presentation script..

A

I have 3 bottom line questions for you, number 1, are you definitely ready to sell this property
2? Cant tell what he said
3, do you want me to get it sold for you??

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12
Q

sales presentation script..

purpose of todays meeting is two fold..

A

number one is for me to tell you what its going to take for us to get your house sold so you can be in san diego in 60 days
2, is for us to determine today, if i am the right person to partner with to help you sell your property

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13
Q

how long does it take for escrow

A

30 days

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14
Q

how many people do you need to speak to per day

A

Set the standard of speaking to 40-50 people per day

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15
Q

Dont give up on chasing prospects down because..

A

, it can take up to 2 months of calling them to get an appointment

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16
Q

what do people look for in a realtor

A

honesty and communication- people want to be kept in the loop all the time

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17
Q

Defaults?

A

bank is getting on someone because they are late on payments, so you can help them get additional funding through banking programs,

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18
Q

what should you practice every single day

A

Practice scripts and dialogues, rebuttals, so that you give off confidence everyday

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19
Q

first thing to do on the job

A

Seek out the best in a higher level to coach you, surround yourself

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20
Q

should always measure..

A

how much practicing you are putting in. how many people you talk to per day

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21
Q

Call existing customers to..

A

not lose future business- extract referrals from your existing data base

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22
Q

what do you need to get when speaking with people

A

Get all contact details, work details, email, home phone, and when you reach out make sure you have some value to bring to the table

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23
Q

what should you include in your monthly emails

A

Put everyone on educational videos even if they dont appear to be legit prospects so that when you call them back, you have educated them

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24
Q

what are the main sources of income in real estate

A

Main source of income, soi, expires, facebooks, fsbo (for sale by owners), referals
Doors and referrals, door knocking

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25
Q

every single day you should ask

A

fiilling your mind with, what would happen if you were prospecing 3 hours a day and working on scripts

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26
Q

s how you get expired listings

A

Vulcan 7, redx

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27
Q

What is in your prelist packet

A

Simple, put in your action plan, testimonials, bit of information about yourself, cma, net sheet, and disclosures,

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28
Q

to be good, you must..

A

If you want to be good, you have to put in 1-2 hours per day, some people dont even put that in per week to know their scripts

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29
Q

When deciding on where to go door knocking

A

ou want to go where the homes are selling, look on mls or dqnews online, look at whats selling this year vs last year so you can see which neighborhoods are hot

30
Q

What scripts do you use on expireds

A

Use the “fearless agent scripts” as well as mike ferries scripts
Kevin ward?

31
Q

Getting their motivation

A

where do you want to move to, if i could get you an offer within the next 30 days would you sell your house

32
Q

Voicemail for HOME FOR SALE

A

hi my name is derek, im a local realtor calling about your home for sale, i just had a few questions and wanted to set up a time to come and preview your property, when you get a second, give me a call area code (604) 679-5226 again my name is derek (604)679-5226

33
Q

What to say if they received an offer on their property

i need to google this one to find out what i really should say

A

did you end up receiving an offer on the weekend? (still available, i actually received an offer and am negotiating at this point)

34
Q

the MAGIC question

A

how long are you going to try to sell the home on your own before you look at other options!!!

35
Q

You need to keep an eye on your main source of business meaning..

A

for example, if your expireds is turning up more opportunities or business, you start to focuse your prospecting more on that say 60%/40%

36
Q

The difference between successful real estate agents and non successful agents is

A

, you have to talk to more people and you have to practice more, its that simple. Also, you have to genuinely care about your clients

37
Q

If your new, dont spend alot of time on..

A

facebook ,twitter, instagram, linked in, you can automated it etc you shouldnt even spend more than a half hour on it

38
Q

when should you preview homes, and what to do while your there?

A

Preview homes in the afternoon, and then, go door knock 20 homes in the area and because people want to know about it

39
Q

The one thing people look at on your pre listing package is

A

net sheets, put 2 or 3 difference scenarios

40
Q

what is pre listing package

A

It sounds like pre listing is something you send to the seller before you list the property and if they dont like the pricing on the package, then you tell them that you will talk about it when you meet up

41
Q

what to include in your drip campaign

A

, promote your just solds! Send flyers monthly

42
Q

First people you always contact are the

A

fresh expires (reason) these are the hottest leads, they may still want to sell, get in front of them
Next- call your sphere of influence (stay ontop of your database)
When calling your sphere of influence, its not always about the call or email, its about staying in their head so that when they come across someone that needs something, they refer them to you
Next- go after older expireds 30 plus days
Sometimes maybe something in their personal life happened and they couldnt sell, and by that time alot of agents have forgot about them, so you could get them when they are ready to sell again

43
Q

How to differentiate yourself

A

partnerships(escro officers, putting money together with yoru partners, marketing, other realtors etc) spread faster
Tell people the truth, not what they want to hear

44
Q

First things to do after getting your license-

A

set the bar very high like 200k (dont take advice from people that are not doing anything)
Study contracts inside out
Shadow agents, get in there and learn what happens in escrow
Dialogues, scripts!!! Mike ferry.com, study his scripts inside out
Practice 2 hours per day, after 2 months something clicks
2 hours per day cold calling and then 2 hours per day door knocking every single day (4 hours per day minimum)

45
Q

You might be able to get an absentee list,which means

A

the property is not their primary property (it might or might not be legal) investment properties

46
Q

Re invest _______ of your income

A

10-15% of your income- get the mojo dialer (web based dialer that dials for you)

47
Q

get expires, pre solds from

A

Redx

48
Q

After you get your license

A

get to work asap, even though you dont know whats going on, start talking to people

49
Q

People that you talk to in the morning are more ..

A

receptive, they are not tired after work, people

50
Q

Sometimes the listings on zillow are

A

outdated, sometimes 120 days, not every available property is on those websites, maybe 60% are listed
You not seeing the full inventory is available
2nd, the valuation aspect- people feel like zillow is 100% accurate,
You want a professional who is in the market, whos knows whats sold, whats selling, what hasnt sold, think, a website that doesnt hold all the data, cant provide as accurate of an evaluation as someone who is ontop of all data in your particular area
Its a good place to start, however, im your negotiator, if im representing you as a buyer im going to fight to get you the best price and terms, and when you are a seller, im going to fight to not only list it at the best possible price, but also do everything i can to execute the transaction so that you can acheive your goals and in a smooth and seamless experience and be able to move on with your life
There may be 90 homes for sales in the neighborhood, but zilow is only going to have 50 of them, think some people are not tech savvy or may be open to selling but not activelly advertising their home

51
Q

The commision fees are justified because..

A

when you go with a full service broker vs discount, everyday the full service broker is looking for more sellers and buyers, talking to 30-60 people per day, we are going to generate more activity on it, everybody can put a sign in the yard, put in the mls, but what is your agent going to really do to get every possible person into your home, because more buyers, equals more offers, and more offers means the more money for you

52
Q

Active marketing vs passive marketing

A

putting an ad in the paper on website vs someone who will get on the phones, sphere of influence, personal circle, other agents, 200-3000 people, talking to everyone at your gas station, at your home etc
Promoting your home
The reason why, is because the more signs they have in the yard, the more calls they get, and the more buyers they get, because statistically, 1-2% of people that call from signs in from of the house proceed with the purchase of that house, listings bring buyers,
So think, the more visibility you have from signs and listings, the more calls you get, and then you are able to show the buyers more properties

53
Q

Keep in mind, the brand behind the agent has nothing to do with the results, what you want is

A

an agent who knows the process, and can get you the best price and terms, and 2, can get you in the house, and if your a seller can negotiate to get you the best price and terms,

54
Q

The accumulation effect

A
  • prospecting 3 hours per day (DAILY) it snowballs, kept in touch with a family on a listing 5 months ago, which they didnt buy but kept sending them emails every 2 weeks, and talked to them atleast 2 or 3 times in the past 5 months and then this new listing that i took, that is not on the market yet, they saw it, and they have not yet found what they want
55
Q

The purpose of the prequalification is

A
  1. Do you want to go on that meeting and 2> you want to make sure that person is qualified and ready to list their home so that i can actually help them (are they ready to put their home on the market and can i help them)
    Sometimes is makes sense to tell the client that they shouldn’t list for 3 or 6 months (for whatever reason) because thats in their best interest and it shows them that you are trustworthy etc
    If someone is difficult on a prequal it is probably not worth your time to take the meeting ( it is sometimes more about if they are not answering questions, not the questions that you are asking)
    If the person is a jackass, do you want to work with them for the next 60 days?
    You have to be willing to give up business in order to get more business
    More prospecting and lead generation gives you the option to choose who you want to work with as opposed to needing the prospect so bad that you have to work with someone you don’t want to
56
Q

When you cancel an appointment what do you say?

A

when its pricing, hey if you dont mind, based on our conversation, you say that you need 250k based on my research in the market im not sure if i can help you unless you are open to 235k, are you guys open to that? Surprisingly alot of people will be willing to look at that (its not just about equity, but it also determines their level of motivation!!!)

57
Q

Crm systems-

A

Crm systems- mojo and realty juggler, bryan keeps his stuff in excel sheets
Follow up boss with mojo(if a call comes in, they get a text right away) combined with mail chimp

58
Q

3 things to do, to get off the ground as new agent

A

find people that are already producing, take them out to lunch and ask them questions, create a blueprint for success
Then create a plan of action
See yourself as the top producing agent (visualize it and it will happen)
Don’t keep changing systems, don’t be a dabbler, if you choose a system, stay with it for a while

59
Q

Do you go after expired listings that do not have a number

A

Yes, first thing to do is pull new expireds in the morning, nock on their door 7:30am in the morning

60
Q

what to do if seller asks how many homes youve sold, and you havent sold any

A

tell them youve been in software sales for 11 years, and now your in real estate, and with this amazing firm, we are the number 1 group in the area, and lean on the firm then ask another question!!! how important is it to have someone that has sold a bunch of homes, vs someone who is going to give their full attention and effort to your specific property.

61
Q

what to do if seller asks how many homes youve sold, and you have sold lots of homes

A

tell them, that you have sold 24 homes last year, and the average agent sells 4 per year

lets say your a newer agent, and you sold 8 properties, what you want to do is tell them that you sold 8 vs the national avererage of 4 per agent so that have something to reference it against (qualify it with in other words)

62
Q

why it is important to be on your game and ready for objections when calling expireds?

A

because, typically, 3 weeks before the listing expires, the seller is already planning their next move and may have a different agent in mind etc

so think, if that other agent calls and just says im glad we can get together tonight blah blah, whearease you call and pre qualify and present yourself as a proffesional and gather information ahead of time, poised, and asking alot of questions, that get her thinking, it might make her uncomfortable, but at the end of the day, who are you going to put your half million dollar asset in the hands of right?

63
Q

what are active techniques vs passive techniques

A

passive- waiting for the phone to ring, sending out flyers

active- getting in front of top agents, making sure they know your home is comming for sale. knocking on all the neighbors doors, when i list the property, and im going to tell them that ive just listed your property and who do they know that wants to move in to the neighborhood

how impressed would that neighbor be, that your out there knocking on 10 doors around the property

64
Q

what to do if someone gives you a listing?

A

go out imediately to the 20 houses in the neighborhood and pass out the flyers, then call them and tell them you are having an open house and want them to come provide some feedback on the home, and most importantly after the home sells, call them to thank them for all their efforts and let them know that it sold way above asking price and if they ever want an agressive motivated focused agent to help sell or buy id love to stop by and further discuss

65
Q

what should you listen to when going to a listing appointment

A

positive affirmations or audiobook

ussually, you would bring someone with you on your first few that can be the guide until your comfortable

66
Q

why is it important to track your numbers(bc)

A

because where attention goes, energy flows and also, you might come to realize something like, for every household you door knock and talk to someone, you start to realize you are earning $40 per person which will lift your spirits. you need to look at your numbers every single week

67
Q

what is something you “MUST” do everyday while you are on the job, and doing sometimes repetitive tasks?

A

have FUN, find a way to make the job FUN, even when you are door knocking and prospecting, remind yourself to joke around

68
Q

what does brian tracy say the key to success in sales is?

A

learn to love “No’s” the more “No’s” you get, the more successful you are going to be. look forward to getting your first “No” every day. think about that company that would give an employee free lunch to the person who got the most “No’s” every day

69
Q

what does brian tracy say the most important thing?

A

you must care about your customers

70
Q

kevin ward talked about NLP, and says that end the end of every statement you should end with?

A

a downswing, in other words make it so that your voice goes downwards with certainty, instead of upwards with hopefullness

ravi (20 decks)

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