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Zillow 2.0 > Onboarding Manager > Flashcards

Onboarding Manager Flashcards

1
Q

ZG’s 7 Big Bets

A

Trusted platform for renters, including those that prepare to buy

Smoothest transition from a dream to a real life connection and tour

Unlock your financial potential with Zillow Home Loans

Offer multiple options for sellers to maximize value

Enhanced partner network powered by a best in class program

Integrated experience across the journey supported by foundational enablers

Real estate industry software and media powered by best in class ShowingTime+ platform

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2
Q

8 Learning Stages

A
  1. Tell
  2. Show
  3. Do
  4. Review
  5. Assess
  6. Incubation
  7. Certify
  8. Autonomous
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3
Q

What is AAA in regards to Fair Housing?

A

Agree with the discrimination. (ex. “I’ve heard the same thing.”)

Affirm the discrimination. (ex. “That’s a valid concern.”)

Acknowledge the discrimination. (ex. “That must be really frustrating.”)

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4
Q

Comments to respond with when stated as a reason to work/not work a zip code/neighborhood

A

“Please understand that because of fair housing protocol, I can’t discuss the types of people who live in this area.”

“At Zillow, it’s important that we offer every lead equal and fair treatment.”

“I’d like to keep talking about the best ZIP code selections for you, but we can’t discuss types or groups of people who live there.”

“It sounds like you are declining this ZIP code. Should we move on?”

“Zillow is committed to serving all people and areas of our communities, so we can’t segment your leads that way.”

“Zillow considers stereotyping a form of discrimination, so let’s not engage in conversations regarding entire groups of people.”

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5
Q

What is Racquel’s org name?

A

PA Programs and GTM

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6
Q

What are the key areas on the SE interview rubric?

A

(High, Medium, Low
Sales process : Tell me about the performance KPIs you were goaled on in a previous sales role, and how your own averages compared to the targets.

Pipeline management: How do you organize your daily activities to ensure that you are efficient in servicing your prospects? How do you enable yourself to be effective on a daily basis?

Roleplay: Walk me through your process of how you engage cold prospects. From here, we will use the next 15 minutes to effectively pitch your current product or service. Because this is an outbound role, we expect you to showcase how you can effectively engage, qualify, and advance to next steps. Bring your enthusiasm and role play during the interview. 1. Engage with an effective opener. 2. Transition to discovery. 3. Advance to next steps by setting up a presentation call.

Questions
□ What strengths did this candidate demonstrate in aligning with the core values/tech and/or functional skill competencies needed for this role?
□ If there were gaps or concerns you identified during the interview, what were they?

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7
Q

What are the five stages of ZWS?

A
  1. Trust advisor - earning a seat at the table
  2. Engage - Agree to discovery and/or meeting objective
  3. Discover - Reveal honest thoughts about goals and obstacles and become receptive to hearing your recommendations
  4. Influence - Embrace your recommendation
  5. Advance - Commit to the next action
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8
Q

What is the 10, 30, 3 approach?

A

Align your message with the decision-makers whiteboard

10 seconds quieting the voices, 30 seconds on the call objective, 3 minutes discovery

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9
Q

What is the ADAPT approach to handling false objections?

A

A: Acknowledge
D: Drop the rope
A: Address the false objection
P: Permission
T: Three-minute discovery meeting

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10
Q

What is meant by “Take the trip” in ZWS?

A

Understand their point of view before you share yours

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11
Q

What does GROW stand for in ZWS? When is it used?

A

G: Goals - What do they want to accomplish and why?
□ Objective: understand their goals for business and why they have set them

R: Results - what kind of results are they currently experiencing?
□ Objective: Understand what they measure and how they are performing

O: Obstacles - what is standing in the way of their success?
□ Objective: Identify what is preventing progress and keeping them from making progress on their plan/goals

W: Who - who needs to be involved?
□ Objective: Learn who else in the organization can drive and influence change to accomplish goals

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12
Q

Ask other-centered questions with open=ended and clarifying questions then LEAD. What does LEAD stand for?

A

Listen
Change your agenda, clear your cache, and tune into what is being said

Empathetically
Acknowledge
These last two sections to meet their greatest emotional need, validate the Agent’s POV. Your goal is for the agent to say “exactly”

Drop the rope
Enhance receptivity by ensuring the Agent is comfortable with sharing honest information (e.g. dissatisfaction with ZG, low interest/willingness)

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13
Q

What are the 3 C’s to help out with Influence in ZWS?

A

□ Connect: logically connect other-centered benefits
□ Start sentences with “because you…”
□ Contrast: Logically contrast competitive advantage
□ Focus on what is proprietary
□ Convince: Emotionally experience the payoff
□ Success stories and word pictures

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14
Q

What are the two revenue models for Premier Agent?

A

Market based pricing & Flex

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15
Q

PA sales org structure - what are the three channels?

A

1: Acquisitions Channel “On Demand”
2: Growth and Retention Channel “Core”
3: Flex Channel “Elevated”

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16
Q

What sales roles exist in channel 1?

A

Sales Executive
Senior SE
SE Team Lead

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17
Q

What sales roles exist in channel 2?

A

National Business Advisors (NBAs)
Business Advisors (BAs)
Senior Business Advisors (SBAs)

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18
Q

What sales roles exist in channel 3?

A

Growth Advisor, Regional Partnerships (GA)
Growth Advisor, Team Lead, Regional Partnerships

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19
Q

Who leads each sales channel?

A

1: Alex Horner
2: Kelly McCulley
3: Cody Rock

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20
Q

What GMs are in channel 1?

A

Edward Oh
Jonathan Ney
Christine Whittlesey

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21
Q

How many SEs are there?

A

Over 200

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22
Q

What does AMSO stand for?

A

Average Monthly Sale Order

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23
Q

What is the typical conversion rate for inbounds?

A

Conversion rate is roughly 5% currently (historically we have seen as high as 7-8%)

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24
Q

What percentage of revenue is generated through inbounds?

A

Roughly 48% of our revenue is generated here (was as high as 65% last year)

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25
Q

What is the average number of calls to a partner needed to lead to a sale?

A

6 (applies to new and recycled MRR)

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26
Q

What are the funnel progression statistics across inbound and outbound attempts?

A

28.75% to Conversation (2+ minute call after pickup)
46.1% to Presentation (10+ minute call with recommendation)
27.5% Closed Deal

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27
Q

How is the output goal Survival rate measured?

A

Percentage of sales that remain active and do not cancel measured on 2 calendar months prior

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28
Q

What is the quota ramp in Launchpad?

A

0% QA in Month 1; 0% QA in Month 2; 0% QA in Month 3; 50% QA in Month 4; 100% QA in Month 5

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29
Q

What are the three certifications during launch pad? When are they?

A

Week 6 Certification on Product, Process and Systems
□ Tools: Salesforce, Salesloft, GONG, Prospecting tool, Tableau, Sonar, Trolleytown

Week 8 Certification on ZWS Engage & Discover
□ Engage
- Open a conversation with an effective 10-30-3 tailored to the partner list you are prospecting towards
- Handle false objections using the ADAPT model tailored to the conversation
□ Discover
- Build a discovery roadmap using the G.R.O.W. model
- Use clarifying questions to go from vague answers to the “truth”
- Prime questions using an Other-Centered objective
- Respond to answers using the L.E.A.D. model

Week 10 Certification on ZWS Influence & Advance
□ Influence
- Use of word pictures/analogies when presenting the PA product
- Use success stories for an agent to embrace a recommendation using the 3Cs model
- Handle objections using the L.E.A.D. model based on the conversation
- Use of Check Your Six when presenting the pitch deck
□ Advance
- Identify a next-best action based on an agent’s commitment level
- Create an Other-Centered offer statement based on the agent’s level of commitment (Advancing the relationship or advancing the sale)

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30
Q

What is the 70:20:10 learning model in Launchpad?

A

70% workplace learning - experiential learning
20% social learning - social learning
10% structured learning - formal learning

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31
Q

ZWS

OCP

A

Other-Centered Purpose

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32
Q

RAS Principle

A

Reticular activating system

Decision makers respond to messages that align to a perceived need and/or that communicate unknown insights about how to address this gap

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33
Q

Becoming a Trust Advisor learning objectives

A
  • Understand the number one barrier to becoming a Trusted Advisor - receptivity
  • Learn how to establish receptivity with any Agent
  • Identify the characteristics of a Trusted Advisor
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34
Q

Cornerstone Principle

A

When people are emotionally closed, you cannot persuade them with logic. In fact, when attempting to persuade emotionally closed people, they become even more closed

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34
Q

Default principle

A

Because we default to self, our natural approach to selling diminishes receptivity and the ability to create the most effective recommendation

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34
Q

Creating receptivity starts with developing the right mindset. That begins by answering two critical P focused questions:

A
  1. Does the agent believe they are the Priority?
  2. Does the agent feel pressure?
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35
Q

Tug of war principle

A

People resist any pressure to think or act differently if they feel like their freedom to choose is not respected

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36
Q

Engage learning objectives:

A
  • Activate the agent’s RAS by developing an effective Other-Centered Purpose (OCP)
  • Effectively get more meetings by utilizing the 10-30-3 introduction approach
  • Learn how to handle the false objections customers use to avoid sales calls
37
Q

What are the three components of the OCP?

A

Their Whiteboard
The Disruptive Truth
Your Proprietary Benefit

38
Q

What is the objective of touching on their whiteboard during your OCP?

A

Activate their RAS by leading with their goals, problems, and the things on their mind

39
Q

What is the objective of the disruptive truth in your OCP?

A

Build credibility and activate their RAS by communicating an unknown insight about addressing their challenges. “Most people believe X is true, but in reality, Y is true”

40
Q

What is the objective of your proprietary benefit in your OCP?

A

Answer the question, “why meet?” by communicating how you uniquely solve their problem

41
Q

Discover learning objectives

A
  • Build a discovery roadmap that enables you to serve your agent most effectively
  • Develop the critical skills to “drive” the discovery process and ensure that you uncover honest, unrestricted information
42
Q

Blindfold principle

A

When the agent doesn’t know why you are asking, where you are leading them, or your motive, they will always assume a negative

43
Q

Shift principle

A

Emotions, not logic, determine whether a person will make a significant shift in beliefs or behaviors

44
Q

Influence Learning Objectives

A
  • Logically connect your recommendation to the Agent’s challenges
  • Effectively contrast your solution with the status quo or the competition
  • Emotionally convince agents of your recommendation
  • Respond to agent objectives in a way that maximizes their receptivity to your recommendation
45
Q

Advance Learning Objectives

A
  • Determine the best next action on their commitment level
  • Make an Other-Centered offer that improves the probability of them committing and following through
46
Q

ATM

A

Account Team Member

47
Q

What are the ad bonus tiers?

A
48
Q

How soon after the sale do you need to check-in with agents that have committed to spend under $1k?

A

30 days

49
Q

When onboarding an agent with a spend under $1k, you need to open a new opportunity. In order to get credit for any upsells or self-service while still under ATM, you’ll need to set the stage as what?

A

Recommendation closed

50
Q

What happens if the region assignment and team role aren’t accurate for a Premier Agent before booking a sale?

A

If they need to be assigned to a BA/SBA, they won’t be assigned.

51
Q

The total PALs contribution of all lenders cannot be more than a total of what percentage of a Premier Agent’s total monthly spend?

A

50%

52
Q

What happens with the ad bonus if an agent decides to purchase multiple zip codes?

A

The total amount of ad bonus received will be allocated proportionally to the dollar amount in that zip code.

53
Q

At what advertising spend does a Premier Agent partner receive a dedicated business advisor?

A

$1000

54
Q

When a Premier Agent accepts a live connection, how long does the automatic exclusive My Agent relationship between the agent and the consumer last?

A

30 days

55
Q

Rebooks (including upsells) in a given month from cancels (including reductions in MRR or any waived churn) that occurred within the 3 calendar months prior, will be credited at ___ percent of the MRR amount.

A

50%

56
Q

Default stage that is present on auto-generated Cart opportunities.

A

Zips Added

57
Q

How long does an SE have ownership of an account where they are listed as ATM?

A

60 days

58
Q

In order to get MRR credit after a Presentation or Business Assessment, what needs to be done?

A

A corresponding opportunity needs to be created

59
Q

What tool will you use when you are pricing out the product for your partners to see how much their entire Premier Agent package will cost?

A

Trolleytown

60
Q

What is the minimum spend per zip code?

A

$50

61
Q

How many options should you have prepared to bring to every meeting/presentation where you will be pitching Premier Agent?

A

3

62
Q

Once the contract is created in Trolleytown, where do you need to go in Salesforce to locate it?

A

Opportunities

63
Q

When setting up the second call, what is the ideal time frame for scheduling?

A

Same day/24 hours

64
Q

You would utilize the pitch deck after you’ve ______. You want enough information so you can tailor your pitch and make sure you have enough information to come up with a personalized recommendation.

A

Discovered their goals and have 3 options to share

65
Q

What are the “360 Degrees of Support” we offer to our Premier Agent partners?

A

Personalized guidance, On-demand coaching resources, Market and consumer insights, Instructor-led courses

66
Q

What is the number #1 barrier to becoming a trusted advisor?

A

Receptivity

67
Q

To begin creating receptivity, we have to start with our mindset. We can do that by answering two questions?

A

Does the agent believe they’re the priority?
Does the agent feel the pressure has been removed?

68
Q

The first fundamental capability of the Zillow Way of Selling is Engage. What is the objective of Engage?

A

Agree to discovery and/or the meeting objective

69
Q

What is the ZWS framework we will use to begin the majority of conversations when we are cold calling prospects?

A

10-30-3

70
Q

When we receive false objections at the beginning of conversations, what framework will we use to earn the right to continue the conversation to get to Discovery?

A

ADAPT

71
Q

The second fundamental capability of the Zillow Way of Selling is Discover. What is the objective of Discover?

A

Reveal honest thoughts about goals and obstacles

72
Q

What are the four elements of the Discovery Roadmap?

A

Goals, Results, Obstacles, Who

73
Q

What are the two skills that impact our Agent’s receptivity, and our ability to get the unfiltered truth?

A

What we ask and how we respond

74
Q

The third fundamental capability of the Zillow Way of Selling is Influence. What is the objective of Influence?

A

Embrace your recommendation

75
Q

What are the parts of the 3Cs?

A

Connect, Contrast, Convince

76
Q

The final fundamental capability of the Zillow Way of Selling is Advance. What is the objective of Advance?

A

Commit to the next action

77
Q

You should always advance the sale or the ___________.

A

relationship

78
Q

What are the 3 parts of getting Commitment to Advance either the sale or the relationship with a potential Premier Agent?

A

Choosing an action that is appropriate based on the conversation
Provide an Other-Centered offer
Gain commitment to a specific date and time

79
Q

What are the conversation expectations for Sales Executives?

A

Complete 6/daily 2+ minute calls or complete 3/daily 10+ minute calls

80
Q

How many agents is a Sales Executive expected to present to per day?

A

2

81
Q

How many prospects can you pull at once when you’re prospecting?

A

10

82
Q

We are unreceptive to an opposing point of view until we feel our point of view is heard, understood, and validated. In order to increase receptivity, what ZWS approach do we need to use to help the agent feel heard, understood, and validated?

A

Take the Trip

83
Q

What is the key to Priming tough questions, so agent’s answer, your relationship stays strong, and demonstrates they are the priority?

A

Having an other-centered objective

84
Q

Why is it important to intermittently check your six during your presentation?

A

It helps you determine receptivity and discover barriers.

85
Q

What quick link do you use to see if there are any Past Due Balances or Chargebacks?

A

AdPotentialCancellations

86
Q

What triggers ATM?

A

Calling the agent

87
Q

A Sales Executive sells $1,500 to an agent. The next day, the agent purchases another $1,000. How much credit will the Sales Executive get?

A

$1500

88
Q

Ilya had a 10+ minute conversation over Zoom with a Premier Agent partner and presented the Premier Agent product. How should she log this in Salesforce?

A

Presentation or Business Assessment

89
Q

What is the minimum amount of connections/month an agent needs to be sold Premier Agent?

A

2

90
Q

How can an agent opt-in to texting?

A

They must text “START” to your phone number

91
Q

What is the primary report we will use in Tableau to search for open inventory in a zip code?

A

Zip Prospecting V4

92
Q
A

Zillow 2.0 (1 decks)

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