Li

Lipsey School of Real Estate2011 Systems for Success

Presented by

Mike Lipsey, MCRE

Module 5 Selling By Phone5.1……….…………….……..……Target Marketing 5.2……………….8 Strategies (Selling by Phone)5.3………………………..……….Engage Prospect

Module 5: Selling by Phone

Target Marketing

5.1

Identifying Target Market

Macro (Prospecting Pyramid) Industry Property Type Requirement

Micro (Market Specific) Target Sub-Market Overall Understanding

Prospecting Pyramid

Tier 1 – Base Industry / Market

Tier 2 – Macro – Sub

Tier 3 – Micro – Sub

Tier 4Target Rich

REIT

SouthwestUnited States

Office

Seeking> 100,000

5.1

Creating A Database5.1

Creating A Database5.1

Research

Getting Past The Gatekeeper

Introductory Benefit Statement

Transition

Run Clear

Open Probe / Closed Probe

Set The Meeting

Prepare For The Meeting

1

3

4

5

6

7

8

2

Selling By Phone5.2

1 Research

Using All Available Resources

Company Website – Personal Bio Google – Internet Brower Market Information Relative News / Current Events

Business Journal, Local / National News Paper Real Estate Specific Subscriptions

CoStar, LoopNet, RCAnalytics, etc.

5.2

2 Getting Past The Gatekeeper

Creating A Purpose

Recently Sent Marketing Information Sending Thoughtful Small Gift (Relative Book or Market

Information) Common Interest (Association, Community

Involvement, etc.)

5.2

3 Introductory Benefit Statement

Customized Industry Benefit Statement (CIBS) Statement Specifically Incorporating Prospects Practice

“I’ve noticed that you’re goal is to become the market’s leader in customer relations. Through practice, our team has increased client’s customer efficiency through additional locations.”

Individualized Industry Benefit Statement (IIBS) Statement Specifically Incorporating Prospects Industry

With recent technological advances, we’ve seen multiple retailers increase their logistical operation.”

5.2

4 Transition

Through Prospect Interest

Use Questioning Techniques to Transition

Perform Step 5 (Run Clear)

Step 3 TRANSITION Step 5

5.2

Resource Urgency Needs

R U N

C L E A RCauses Loyalty Expectations Authority Revenue

5 Run Clear

Rating Your Prospect (1 – 5)

5.2

Run Clear (Client Worksheet)

RResource

UUrgency

NNeeds

CCauses

LLoyalty

EExpectations

AAuthority

RRevenue

5.2

6 Open / Closed Probe

Open Probe Strategic (OPS) Open Question Specific to Business Practice

Closed Probe Strategic (CPS) Closed Question Specific to Business Practice

Open Probe Tactical (OPT) Open Question Specific to Real Estate

Closed Probe Tactical (CPT) Closed Question Specific to Real Estate

5.2 / 5.3

7 Set The Meeting

Closing Techniques

Invitational Alternative Assumptive Next Step Similar Situation Hot Button

5.2

8 Prepare For The Meeting

Demonstrate an Understanding and Interest of Prospects..

Industry Industries Current State Innovative Practices

Real Estate Characteristics (SF, Dock Doors, Demographics, etc.) Sub Market Statistics Space Alternatives Acquisitions / Disposition Advantages

Personal Interests Association Involvement Area of Excitement (Athletics, Alma Mater, etc.)

5.2