Home of unlimited opportunity. Doing the Twist: A New Approach Doing the Twist: A New Approach.

Home of unlimited opportunity.Home of unlimited opportunity.

Doing the Twist: A New Doing the Twist: A New ApproachApproach


*Prep for This Week’s Session*

• Test run the automated pieces of the presentation before the meeting (slides 5-6, 11, 13, 18, 21-22).

• Speakers for the automated pieces. Note: Every automated slide has in the lower right corner so they can be easily identified.

• Copies of the Move-Up Tool, the Less is More Checklist and the Diagnosis Checklist, one per associate.

*Delete this slide before presenting *


This Week’s SessionThis Week’s Session

We’ve introduced a variety of tools and showed you one strategy for using each of the tools.

Today we’re going to look at some of these tools and look at a new approach - a twist – to using them.


The “V” ToolThe “V” ToolPrices Rates

High

Mid-Range

Low

We’ve discussed how the “V” Tool can be used to convince buyers of the historic opportunity to buy in this market. The Twist: What are some ways the “V”

Tool can be used with sellers? Click to the next slide to

hear how this works.


Prices Rates

High

Mid-Range

Low

Twist # 1: Securing a Price Twist # 1: Securing a Price ReductionReduction

Ask sellers to place a dot where they believe prices are right now.

If they don’t put the dot at the bottom of the V, the sellers believe prices are still going down.

This puts them in line for a price reduction!


Prices Rates

High

Mid-Range

Low

Twist # 2: Securing a ListingTwist # 2: Securing a Listing

Again, ask sellers to place a dot where they believe prices are right now.

If they don’t put the dot at the bottom, they believe prices will continue to drop.

When prices drop 6 to 12 months from now, they won’t get the price they can get today.

These sellers don’t want to list for 6 to 12 months.


Recap: The “V” Tool Recap: The “V” Tool TwistsTwists

Has anyone used the “V” tool in the ways we just reviewed for: •Securing a price reduction•Securing a listing

Prices Rates

High

Mid-Range

Low

Before we look at the next twist, do you have any questions on using the “V” tool with sellers?


The “Move-Up” ToolThe “Move-Up” Tool

We’ve discussed using the “Move Up” Tool to show sellers how much they will save by upsizing in a down market.

The Twist:Do you know of an alternate way to use the “Move Up” tool

with your sellers?


The “Move-Up” Tool The “Move-Up” Tool TwistsTwists

We’re going to look at two new twists to using this tool:

1.Preventing sellers from taking their home off the market2.Influencing a seller to downsize



To use the Move-Up Tool differently, we’ll have to make a few adjustments to it. Here’s how we’ll change it for our first example:

Original version (focused on the past)

New version (focused on the future – one less column; difference is in $, not %)

Click to the next slide to hear how this works.


Their Home The Home They Want to Purchase

Current $350,000 $500,000

Future $400,000 $570,000

Difference $50,000 $70,000

Twist # 1: Preventing the Seller Twist # 1: Preventing the Seller From Taking Their Home Off the From Taking Their Home Off the

MarketMarket

The sellers wants to take their home off the market even though they want to trade up.

The sellers want to take the house off the market and wait until the prices rise by 10%.

Use the tool to show the seller how much they’ll save by trading up now.

Use this tool to influence seller to list now as opposed to later.



We’ll make a different adjustment to this tool for our second example:

Original version (focused on the past)

Alternate version (focused on downsizing - notice new

column header)

Click to the next slide to hear how this works.


Their Home The Home They Want to Purchase

Difference

Current $300,000 $200,000 $100,000

Past $350,000 $235,000 $115,000

Difference $50,000 $35,000 $15,000

Twist # 2: Influencing a Twist # 2: Influencing a Seller to DownsizeSeller to Downsize

Your sellers have been living in their current home for 22 years.

“Last year, I could have sold this house for $350,000!”

Acknowledge that, then focus them on the home the price of the home they want to

purchase.

Isn’t losing $15,000 a lot better than losing $50,000?

Show hesitant downsizers that the cost to downsize is not as great as they originally

thought.

Use the “Less is More Checklist” for more ammunition.


One More “Move-Up” One More “Move-Up” Tool TwistTool Twist

Have you ever found the perfect house for buyers who wanted a great deal, but you knew you’d have to give them a reason to act now?

In today’s market, you know you can get your buyers a great deal on that house.

Here’s a good sales technique for this situation…


One More “Move-Up” One More “Move-Up” Tool TwistTool Twist

Before you present the “perfect” home to them:1. Fill out a Move-Up Tool using their current home and the

perfect home, both at current prices.2. Fill out another Move-Up tool. This time, use the lower price

you know they can buy that perfect home for.

When you show them their perfect home, show them the first and then second versions of the tool to motivate them to act now. With a lower price, that home will seem even more perfect!


Recap: The “Move-Up” Recap: The “Move-Up” Tool TwistsTool Twists

The beauty of this sales tool – and many sales tools – is that with a slight twist you can use the tool in a variety of situations.

The trick is to recognize, then practice, the different ways in which you can twist your tools as we’ve just done with the “Move-Up” Tool.

Before we look at the next twist, do you have any questions on using the “Move-Up” tool?


The Diagnosis Checklist

We’ve discussed how to use this checklist to ask the right questions to identify why the house hasn’t sold before a listing expired.

The Twist: Let’s look at

using this checklist with

FSBOs.


Did you have a broker open house? If yes, what kind of traffic and/or feedback did you get?

Did you have public open houses? If yes, what kind of traffic and/or feedback did you get?

Twist: Use the Diagnosis Checklist With FSBOs

What feedback have you been given on price?

What was your showing activity?

Has there been a change in the reason for selling your home?

What objections have you received from potential buyers?Have you received any offers?

This checklist was designed to identify why a soon-to-expire listing hasn’t sold.

Most of the questions from this checklist can be applied to FSBO’s.

What was your list price history?

Most questions can be asked to help you develop a relationship with the seller to uncover why their home hasn’t sold.

You can show what you and Weichert can do to get the house sold.


Recap: The Diagnosis Recap: The Diagnosis Checklist TwistChecklist Twist

Has anyone used the Diagnosis Checklist with FSBOs?

Can you think of any other ways to use the Diagnosis Checklist?


Success StoriesSuccess Stories

Let’s discuss some success stories that have come out of our sessions.

Does anyone have a new story to share?

Here are some great stories from Weichert Associates who have used these tools…


The Less is More The Less is More ChecklistChecklist

A Manager was introducing the checklist during a Make Your Market Session.

While an Associate was learning how to use it, she convinced herself to downsize.

She brought home a Less is More Checklist so her

husband could see how their quality of life would improve

by downsizing!


The Keys to Making Your Market

Making Your Market is being:

•Resourceful – Ensure you are well-versed in all of your sales tools so you’re prepared for any situation.

•Proactive – Continue to look for the opportunities that exist in every type of market.

•Positive – Your positive attitude and thoughts will bring positive results.

Home of unlimited opportunity. Doing the Twist: A New Approach Doing the Twist: A New Approach.

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