shift tactic 4: upshifting your lead generation€¦ · fr o m shift in a market where there are...

© 2008 Keller Williams Realty, Inc.

SHIFT Tactic 4:Upshifting Your

Lead Generation

Mona Covey

>Find the Motivated<


Notices

While Keller Williams Realty, Inc. (KWRI) has taken due care in the preparation of all course materi-als, we cannot guarantee their accuracy. KWRI makes no warranties either expressed or implied with regard to the information and programs presented in the course or in this manual.

This manual and any course it’s used as a part of may contain hypothetical exercises that are designed to help you understand how Keller Williams calculates profit sharing contributions and distributions under the MORE System, how Keller Williams determines agents compensation under the Keller Williams Compensation System, and how other aspects of a Keller Williams Market Center’s financial results are determined and evaluated. Any exercises are entirely hypothetical. They are not intended to enable you to determine how much money you are likely to make as a Keller Williams Licensee or to predict the amount or range of sales or profits your Market Center is likely to achieve. Keller Williams therefore cautions you not to assume that the results of the exercises bear any relation to the financial performance you can expect as a Keller Williams Licensee and not to consider or rely on the results of the exercises in deciding whether to invest in a Keller Williams Market Center. If any part of this notice is unclear, please contact Keller Williams’ legal department.

Materials based on the Recruit-Select-Train-Manage-Motivate™ (RSTMM™) system and the Winning Through Selection™ course have been licensed to Keller Williams Realty, Inc. by Corporate Consult-ing. KWRI has the exclusive right within the residential real estate industry to market and present material from RSTMM™, Winning Through Selection™, and any derivatives owned by or created in cooperation with Corporate Consulting.

Material excerpted from The Millionaire Real Estate Agent and SHIFT: How Top Real Estate Agents Tackle Tough Times appears courtesy of The McGraw-Hill Companies. The Millionaire Real Estate Agent is copyright © 2003–2004 Rellek Publishing Partners LTD. SHIFT: How Top Real Estate Agents Tackle Tough Times is copyright © 2008 Rellek Publishing Partners LTD. All rights reserved.

All other materials are copyright © 2008 Keller Williams Realty, Inc. All rights reserved.

Original print date February 2008. Revised August 2008 v3.2.

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.


Acknowledgments The author gratefully acknowledges the assistance of the following individuals in the creation of this course:

Nathan Bangs Martin Bouma Jennifer Boyd

Tony DiCello Julie Fantechi Smokey Garrett

Bruce Hardie Chris Heller Roger Higle

Dave Jenks Rebecca John Gary Keller

Dianna Kokoszka Dean Poole Gene Rivers

Rebekah Rivers Jeffrey Ryder Mary Tennant

Linda Warren


Table of Contents

PersPective 5

Your Mission 6

Your Mindset 6

Outwit! OutPlay! Outlast! 10

The Power of One 10

Study 11

Practice 16

Time on the Task 18

Find the MOtivated 22

The Two M’s of Lead Generation 22

The Message Matters 23

Prospecting 28

Marketing 29

Indirect + Direct— The One-Two Punch 29

sOurces OF leads 33

Focus on Prospecting 34

Get Creative 38

the BOttOM line 41

Get Going! 41

scriPts 43

My actiOn Plan 46

5


Perspective

“Fewer leads, fewer showings, and increased days-on-the-market—the minute these signs show up, take notice. Don’t ignore them and don’t wait to act.”

From SHIFT

In a market where there are many buyers and sellers transacting business, you know what to do and say, and leads are plentiful and coming to you without much ef-fort, you can be very successful simply receiving leads. You can even pick and choose whom you work with.

Not so much today! The market has shifted and there are less total transactions. Buy-ers and sellers are responding differently. Leads aren’t pouring in like they used to. If you are not actively generating leads, you are seeing a real slowdown in your business.

Interestingly, veteran agents lead generate the same way through all kinds of mar-kets—buyers’, sellers’, or neutral—and not only survive the tough times, but thrive and grow their businesses. They know the truth—that lead generation is the engine to their real estate sales career, and is the habit they embrace and focus on each and every day, no matter what market they’re in.

Lead generation truly IS your business—without leads, you have no sales, no clos-ings, and no income. There is no other activity you can do each day that will do more to build your business.

If you’re not lead generating, what are you doing? And if you are lead generating, have you mastered it? Are you truly focused on it? Could you take it up a notch, that is, upshift your lead generation efforts?

“Lead generation is a 10 on a scale of 1 to 10. There is nothing more important for my business.”

Gene rivers Tallahassee, Florida

6


Perspective

Your MissionDo a “mind shift” •Adopt a mindset that prepares you for successful and sustained lead genera-tion. It’s essential for your business. It’s essential for your life. It’s essential for your success!

Develop a mastery of lead generation •If you are not already a master, you must be on a path to mastery. This requires you to be consistent, competitive, and creative with your lead genera-tion efforts.

Commit to your daily habit of lead generation •Are you truly commited to your lead generation? Do you have an established daily habit of lead generation? Do you need to ramp it up? Explore new op-tions? Specialize?

Confront the media head-on •The media continues to put an interesting spin on the real estate and mort-gage industries, and their message can affect the mindset of buyers and sellers. What can you do to address and challenge the media?

Use systems and tools to your advantage •Add technology, e.g., a contact management system (CMS), to your lead generation mix to increase the number of contacts you can make during a given time. Do you need to learn more about how technology can help you and save you time?

“When the market changes, you don’t slow down, you ramp it up.”

From SHIFT

Your MindsetNegative Framing

Are you thinking that lead generation …

Is work—hard work!•

Is uncomfortable—you may not be as skilled and confident as you like•

Exposes what you’re really doing or not doing•

Sets you up for rejection •

Means having to ask for business and good agents shouldn’t have to ask for •business

7


Perspective

Agents with this kind of thinking, or who buy into the negative media and the opin-ions of others, may soon see their business affected in a similar negative way.

Your thoughts direct your actions, and in order for you to move in a positive, produc-tive direction, it’s important to start out with a realistic mindset about the work to be done and the opportunity that comes from your effort. Get clear about the value you bring as a real estate professional. Arm yourself with truths about your business, make a plan, and take action!

“At the end of the day, if you’re not going to generate leads, you are not going to have a business.”

smokey GarreTT arlinGTon, Texas

Reality Framing

Lead Generation …Is ✓ your business

Is about establishing purposeful business relationships ✓

Is your number one priority and number one dollar-productive activity ✓every dayCan be mastered ✓Will differentiate you from other agents in a shifting market ✓

“Where there’s a will there’s a way. That’s your mindset.”

Gary keller

In SHIFT, Gary reveals, “I thought lead generation was really difficult, but after I diligently applied myself to it for a reasonable length of time I came to see that it was actually quite easy and could even be fun. I was confusing effort with enjoyment.”

“Dealing with business never takes precedence over finding business. Never.”

From SHIFT

8


Perspective

Build Confidence with Facts* Buyers and sellers will always have a need to buy and sell. And buyers and sellers need your help and guidance. You need to be willing to be in the market, ready to compete for their business and able to provide an invaluable service.

National Association of Realtors (NAR) 2007 Profile of Home Buyers and Sellers

Buyers Sellers

79% of all buyers used a real estate agent.

85% of all sellers used a real estate agent.

Buyers wanted agents to help find the right home to purchase.

Sellers wanted agents to help sell their home within

a specific time frame.

Number of Agents in NAR (Nov 2007)1,357,993 Agents

Projected Transactions for 2008Total existing home sales is projected to be 5, 700,000.

Total new home sales is projected to be 693,000

Grand Total ~6.4 million projected transactions (12.8 million sides)

* These statistics reflect the United States only.

“No matter what the condition, there will always be enough sales for you to personally reach your goals.”

Gary keller

YES!Good news!

No problem!

9


Perspective

Facts and Statistics

What insight did you get from the statistics on the previous page?

_____________________________________________________

_____________________________________________________

Take a moment to write down what value you offer as a real estate professional.

_____________________________________________________

_____________________________________________________

_____________________________________________________

_____________________________________________________

What is your mindset today about lead generation?

_____________________________________________________

_____________________________________________________

_____________________________________________________

_____________________________________________________

10


Outwit! Outplay! Outlast!

The Power of OneIn the KWU course manual Lead Generation 36:12:3, Introduction: The Power of One, Gary Keller discusses the One Goal = a target number of closed transactions, One Dis-cipline = lead generation, and One Habit = three hours each workday. Together, this is the Power of One and the basis of lead generation.

Lead generation is not a new concept, nor is it necessarily hard to do. Most likely you are already aware of the many different options to generate leads, and perhaps you’ve tried several. The question is, are you devoting at least three hours a day to lead generation? If you’re not, what kind of reward—your Big Why—and what form of accountability will help you attain the Power of One?

When you truly understand why you’re in this business and know that you want to master it, you’ll find it easy to commit to consistent lead generation at least three hours a day, and you’ll be on the road to success in any market!

Take a moment for personal assessment:

What is your goal for closed transactions in the upcoming year? _____________________________________________________

If your transaction goal is more than you achieved in the past, what will you do with the extra money? (vacation, down payment on an investment property, additional investment in your business, college tuition, debt payment?)

_____________________________________________________

Who currently holds you accountable? ______________________

How many hours do you currently spend lead generating? _______

To master lead generation, you’ll need to outwit, outplay, and outlast in the game of real estate. Incorporate these three steps into your daily routine:

11



Outwit! Study1. Be the market expert—study the industry and your local market for thirty minutes to one hour each day.

Outplay! Practice2. Say the right thing—practice scripts and dialogues for thirty minutes to one hour each day.

Outlast! Time on the task3. Find and attract buyers and sellers—lead generate for three hours each day.

“This profession is skills based. It’s a knowledge/script/dialogue/presentation-based industry. Always has been—always will be.”

Gary keller

Study

For thirty minutes to one hour each day, study the industry and your local market.

Why would you ever want to be in a position where someone else knows more about your industry and your local market than you? What can you do to prevent this from happening? You study—each and every day. The agents who know their markets backward and forward look at their numbers and trends, and pay attention to what’s going on in their industry, and related industries as well, on a daily and weekly basis.

Q: How’s the market in Ann Arbor, Michigan?

A: Martin Bouma, a consistently high producer even in the tough market of Ann Arbor, Michigan, is one such agent who knows his market. He tracks actives, solds, and under contracts for every $50,000 price point. On Sunday evenings he graphs the number of appointments, contracts written, and closed transactions. And once a month, he reviews his numbers and spends two to three hours determining trends.

12



When you know everything there is to know about your market and your industry, you gain confidence and can communicate clearly and with validity to your custom-ers. People will sense your level of knowledge and be more open to your counsel.

Study What?

Your market numbers (see table next page)•

New developments in the community•

Homes on the market—preview them•

Selling and persuading techniques•

Financing options•

Building/construction •

Home inspections•

Home appraising•

Local and national media messages•

Industry-specific news and information•

NAR•

Inman News•

REAL • Trends

www.realestatetomato.com•

Real estate investing•

Technology—computer, phone, Internet, blogs•

Tip! Expand your current efforts—for example, if you currently preview 5 houses a week, now preview 7 or 10!

13



What Are Your Numbers? Here’s a sampling of numbers you want to track. Track your entire MLS or track a specific neighborhood or geographic farm. You may want to track these numbers by price range as well.

Statistics By Week/By MonthNumber of homes sold

Number of homes on market

Number of homes pending

Number of expired listings

Average number of days on market

Average list price of those that sold

Average sales price

Months of inventory

Average interest rates

Tip!Whichever price range has the most activity is the market to be in. If the median-priced home is selling more than all others, then that’s the market, and that’s the market you should be in.

In the Market

Which price range has the most activity in your area?

______________________________________________

______________________________________________

______________________________________________

Great Role Models Many great real estate agents and salespeople have come before you. Some have written books detailing their techniques for success. Many of them coach people to success. Pick up a book, video, or audio tape, or sign up for a seminar and learn from the best. Don’t forget about the education that is offered through your Market Cen-ter, Region, or international office.

14



A Sampling of KW OfferingsNational best seller by Gary Keller The Millionaire Real Estate Agent

National best seller by Gary Keller The Millionaire Real Estate InvestorSubscription website of Keller Wil-liams University: events, products, online video training, and more

KWConnect on the KWU website, Role Model videos

https://secure.kw.com/kwu/Gary’s new hot website—check it out! www.AgentMountain.com

Free weekly audio classesBusiness by the Book

www.millionairesystems.com

Audio advice from Dave JenksWealth Building Wednesdays

www.wealthbuildingwednesdays.comRegular mastermind conferences with

agentsMasterminds

https://secure.kw.com/kwu/

Annual fall conference for agentsMega Camp


Annual conventionFamily Reunion

www.familyreunion.kw.com

Coaching servicesMAPS Coaching

https://secure.kw.com/kwu/Launch Agent Training offered

through Market CentersCAMP 4:4:3

https://secure.kw.com/kwu/Growth Agent Training offered

through the Market CentersLead Generation 36:12:3


Control the Spin Study what the media has to say and prepare to counter their statements with truths and details about your local market. Gary Keller is quoted, “Saying from a national position that this is either a good time or a bad time to buy real estate is like say-ing the national weather forecast for the United States today is 92 degrees. It is an irrelevant and useless perspective.” The media is motivated by dramatic stories on a national level, whereas real estate is a local business.

Bernice Ross, writer for Inman News, has practical solutions for countering the me-dia’s ever-present negative spin in her article “Negative News Scares Off Clients.” She recommends taking a negative message and turning it around to be positive.

15



Media’s Negative Spin Reframed as Positive

Prices are down in 15 states. Prices are stable or increasing in 35 states.

Owners face massive losses as values plunge by more than 4%

in just 10 months.

Property values soar 300% over the last 9 years!

You can proactively counter the messages not only with positive reframing, but also by being the media! Replace the media with your own version—write magazine and newspaper articles, speak on local television and radio news programs, and blog on your website. Tell the real truth about your local market and become the local go-to economist!

“Would-be buyers and sellers are looking to you for perspective and solutions. Every day, you face pro-found opportunities to assure them that the sky is not falling.”

mary TennanT keller Williams realTy inTernaTional

Your Priorities for Study and the Media

What do you need to study today?

_____________________________________________

_____________________________________________

_____________________________________________

What steps can you take to “be” the media in your area?

_____________________________________________

_____________________________________________

_____________________________________________

_____________________________________________

16



Practice

For thirty minutes to one hour each day, practice scripts and dialogues.

The second step to developing a mastery of lead generation is to know exactly what to say at all times, and in all situations. And that takes practice, practice, practice. In fact, it takes memorization, and takes time. That’s why it is critical to devote thirty minutes to one hour each day to mastering what to say.

As you practice, you will …

Become confident•

Get excited•

Want to have conversations and make presentations!•

Begin with this great opening script, courtesy of Gary. Try it out today or tomorrow as you stand in line for coffee or at the grocery store. See what kind of response you get.

Script! “Real estate is awesome right now.” Gary keller

Gather Scripts The good news is there are already great scripts used by seasoned experts that are available for you to learn and use. Why create your own? Use your energy and cre-ativity to customize and personalize the scripts you encounter.

There are scripts for calling on FSBOs, or expired listings, or when door-knocking, or handling any kind of objection. Collect great scripts from wherever you hear or see them—from other agents, your Team Leader, a coach, a trainer, and from books on selling. There are even some at this end of this guide.

Write scripts out on paper. The processing of writing helps to lock the script into your memory. Keep a script journal or folder to collect your scripts, and keep this with you at all times so you can pull it out, read them, and recite them.

17



Script!“I am a professional, I am committed to this industry, and I will guide you through the process.”

Gary keller

Sources for Scripts

Check out the Keller Williams University website for these script products.

Lead Generation 36:12:3 Power Sessions – for prospect-•ing FSBOs, expired listings, Mets, other agents, open houses, and geographic farms

CAMP 4:4:3 Script Cards•

MREA Masters•

MREA Scripts Catalogs•

Success Series•

Make Your Own Market Audio Scripts from Millionaire •Systems

Partner Up Once you’ve got scripts in hand, find someone to practice with. You can form a group at your Market Center or you can get an accountability partner. Arrange a time each day for thirty minutes to one hour to practice and role-play.

Tony DiCello, of KWRI MAPS Coaching, recommends this process for memorizing scripts by yourself when a partner is not available.

Read and shout a script out loud very fast, five times in a row•

Put the script down and repeat from memory•

Repeat daily•

Listen Up Record yourself reciting scripts or in role-play. Play it back and listen for ways to improve.

Time Block It Put your practice time on your calendar every day. Start today with your scripts, dialogues, and role-plays with your partner or practice group.

18



Reward Yourself Check your progress in three weeks, and plan a small reward for yourself if you’ve achieved what you set out to master.

Your Practice Plan

When will you practice (time of day and length of time)?

_________________________________________________

Who will you practice with?

_________________________________________________

What will be your reward?

_________________________________________________

Time on the Task

For three hours each day, focus on lead generation.

The third step to mastery is time on the task. This is the key to becoming great at anything!

The quickest way to develop a habit of lead generation is to time block your calendar EVERY WORKDAY for three hours, beginning today! This is important, and it takes a strong mindset to stay in control and not allow any interruptions.

Lead generation is best done in the morning when you’re fresh and still have plenty of time left in the day for the other critical tasks that must be taken care of.

Time block three hours every workday before noon.•

No skipping. If you must erase, then you must replace.•

Allow no interruptions (unless they truly are emergencies).•

19



“Your lack of natural talent is irrelevant over time. It’s the time you spend over time mastering the task that matters the most.”

Gary keller

What to Do in Three Hours There are three areas of focus for your daily three hours of lead generation. This is called the “3-3.”

Prepare1. Create messages, prepare your contact, practice and role-play scripts, prepare handouts, email or mail your 8x8, 12 Direct, or 33-Touch programs, take photos, etc. (Approx. 30 minutes)

Take Action2. Make calls, visit people, hold open houses, make follow-up calls, and write notes. (Approx. 2 hours)

Maintain3. Enter results into your database, write follow-up notes, track results, schedule commitments you made. (Approx. 30 minutes)

To keep his focus on lead generation, Gary has a sign over his desk that reads:

Until Your #1 Priority Is Done—Everything Else is a

Distraction

20



Lose the Excuses! Have you heard (or thought) of these excuses for not lead generating for three hours in the morning? If so, remove them from your mind now!

I can’t possibly devote three hours each day to this—I’ve

got other things to do.

I can’t reach anyone in the morning hours.

I’ll get burned out if I do it every day.

Excuses/Roadblocks How I Will Power Through …

I don’t like cold calling strangers. Start by calling my Mets* until I build my scripts and confidence.

Email takes up most of my morning and email is important.

Unless following up on buyer or seller leads, I will block time later in the day to address emails.

I can’t really reach people in the morning.

Leave messages with those I don’t reach. It’s still a contact and a touch.

(fill in other excuses you have) (write in solutions)

*Mets is a term introduced in The Millionaire Real Estate Agent. Mets are people you know and have contact information for.

“We choose to go to the moon, not because it’s easy, but because it’s hard.”

PresidenT John F. kennedy

21



Set Goals and Be Prepared

HAVE DAILY GOALSGoal Actual

# of calls

# of contacts

# of additions to your Met Database

# of appointments w/ buyers

# of appointments w/ sellers

Before you make any call, be prepared! Have some key things in front of you:

Names•

Phone numbers•

Last day you talked•

Something the two of you share in common•

Your message for the day•

Your market numbers and analysis•

Scripts•

Commitment to ASK – for business or for referral•

Important! You could have everything else on this list, but without a commitment to ask for the business the call is wasted. The last bullet point is the bottom line in this process!

Tip!

There’s no substitute for having your electronic database open as well, with the computer screen in front of you as you make calls or send messages. Tools like ProManage/TOP PRODUCER allow you to add notes about your contacts and allow you to see in brief what was discussed in the last contact and when it happened. This is how top customer-relationship management and salespeople do it in many other industries.

22


Find the Motivated

The Two M’s of Lead GenerationTo find the motivated, the proven formula that works in any market has two M’s:

Message1.

Method 2.

The Method The two methods to generate leads are prospecting and marketing.

1. ProspectingGenerating leads through your action and words,

in person or on the phone, talking directly to people.

2. MarketingReceiving leads from ads, websites, signs,

mailing campaigns, or other advertising sources.

While both approaches work, you need to be prospecting-based and marketing-en-hanced. Steve Tufts, Operating Principal of Jacksonville Beach, Florida, reflects that this market “demands face-to-face, voice-to-voice, and handshake-to-handshake lead generation.”

“Great agents do both prospecting and marketing well. They cover both bases.”

Gary keller

Research shows that you should do both: prospecting and marketing. The two meth-ods are mutually supportive, and require a commitment of three hours each workday to complete.

23


Find the Motivated

While both approaches work, you need to be prospecting-based and marketing-enhanced to be most successful in all markets. Steve Tufts, Operating Principal of Jacksonville Beach, Florida, reflects that this market “demands face-to-face, voice-to-voice, and handshake-to-handshake lead generation.”

Both methods require dedicated time-blocked hours to prepare, take action, and maintain—the three processes that you focus on.Your lead generation goal each and every day is to find the motivated buyers and sellers, secure them as customers before any other agents, and advise them to a mutually successful financial conclusion. Mo-tivated buyers and sellers that are able, ready, and willing. In this market, you don’t have time to waste on the unmotivated, the unsure, or the unqualified!

“You can motivate-aid someone ... but you can’t moti-vate them.”

From SHIFT

The Message MattersThe language of sales needs to be strong and to the point. Many agents made the mistake during other markets of not using aggressive enough language. But now is no time to “beat around the bush” with your message. Whatever you say needs to be spoken with both assertiveness and conviction, no matter what the market.

Q: How’s the market in Encinitas, California?

A: “Business is great!” says top agent Chris Heller. In fact, he’s changed his marketing message to: “Slow market? Someone forgot to tell Chris Heller.”

The Message Be provocative! Every message you use in a marketing piece or in person must make an impression on people. And the impression you want is a memorable one of suc-cess, enthusiasm, and command.

24


Find the Motivated

Two Principles Your message must match the market and attract prospective buyer and sellers. For effective messaging, answer the following questions in your mind.

Why would buyers/sellers want to contact me in this market?•

What would they get if they did?•

Your messages must communicate benefits that buyers and sellers immediately recog-nize. You do this using two principles:

Match your market1.

Make an offer2.

Offers can be either direct or indirect. The important thing is that they generate a response!

MOFIR

MOFIRMake Offer for Immediate Response!

Buying in this market is tricky, but with the right advice and the right agent finding you the best buys,

it really is a buyers’ market!

The agent you hire matters.

Phone: 111-222-3333

Call Us Today!

25


Find the Motivated

“MOFIR—the wonder drug for high-response lead generation!”

dave Jenks keller Williams realTy inTernaTional

With all your lead generation activities, your goal is to generate responses—preferably immediate responses! And you do this by outcome framing your message. What offer can you make that addresses the concerns of buyers and sellers and motivates them to respond? For example, what is it that buyers are wanting in this market? Great buys? Financing options? Tailor your message to address their need. What do sellers want? To sell their home quickly? The best price for their home? Tailor an offer to meet their needs.

The more immediate the response, the more motivated the lead!

A response can take the form of an answer to a question:

Offer Would you like to hire me to handle the sale of your home?

Immediate Response Yes!

Or a response can take the form of an action:

Offer Call for access to my Best Buy List

Immediate Response A prospect calls you or sends you an email asking for your list.

Tip!Don’t give information away for free. For example, make offers that entice buyers to call an 800 number, or to register on your website, so you can capture their contact information and then get back to them!

Get Straight with Your Message Agents must be clear and confident about their message—what they have to offer—to potential customers. Chris Heller proudly lists on his website 69 reasons why buy-ers and sellers should choose The Heller Real Estate Group. He makes it very clear what he offers and how it benefits his customers.

Determine your three to five powerful statements that address buyer’s and seller’s concerns, fears, and wants, and will motivate them to respond. Take ownership of and internalize these statements.

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Find the Motivated

Your Message

What are the three to five statements you will say to potential cus-tomers about the market, about the opportunity, about your exper-tise, etc.?

__________________________________________________

__________________________________________________

__________________________________________________

__________________________________________________

__________________________________________________

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Find the Motivated

Apply MOFIR to Lead Generation—Prospecting and Marketing

Lead Generation

Prospecting Marketing

Direct Response

Indirect Response

Direct Response

Indirect Response

Direct Offer messages demand a direct answer, and quickly

identify those people who are ready to do business now.

Indirect Offer messages are perceived by buyers and sellers

as safe and non-threatening because they do not ask for immediate business. Indirect

response is a great lead generation tool to develop a level of comfort

and rapport with a potential customer over time.

I’m going to our homeowners association meeting. Is there anything you would like me to bring to them?

And would you mind if I stayed in touch and sent you news about what’s going

on in the neighborhood?

Are you ready to hire me to handle the sale of your home?

Let’s explore more examples of direct and indirect offers …

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Find the Motivated

ProspectingHere are some examples of both direct response and indirect response messaging that can be used when prospecting—calling or visiting with people.

PROSPECTINGDirect Offer Indirect Offer

Are you thinking of moving? I’m doing a survey in the area. Would you mind if I asked you a few questions?

Are you considering buying or sell-ing in the near future?

I just sold a home down the street and there were a lot of interested buyers, so I was wondering if you know anyone else who might be interested in selling their home?

Do you want me to help you get the home of your dreams?

I create a monthly newsletter with great information about real estate trends in your area. May I send it to you?

Are you considering selling your home?Do you want me to handle the sale for you?

Direct Response

Which of the direct offers in the table above will quickly identify motivated leads?

Tip!The fastest form of lead generation is through prospecting with direct offers, so if you are lead generating in this market any other way, you may want to reconsider your choice.

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Find the Motivated

MarketingHere are some examples of both direct response and indirect response messaging you can use in marketing materials.

MARKETINGDirect Offer Indirect Offer

If you want to sell your home NOW, call me!

Would you like to know the value of your home? Visit my website …

Are you looking for the home of your dreams? Call me!

Get my list of best buys! Call this toll-free number …

Need to sell your home? Call Janice today.

I know five great ways to get your home sold. Call me!

I have buyers who are interested in living in your neighborhood. Call me if you are ready to sell now.

I can help you get the most net income from the sale of your home today. Call me to learn how.

Direct Response

Which of the direct responses in the table above will quickly identify motivated leads?

Indirect + Direct— The One-Two PunchOnly offering indirect response messaging won’t generate much, if any, business, and certainly not quickly. You can begin with indirect offers in your prospecting and mar-keting, but at some point you must ask for the business. For example …

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Find the Motivated

INDIRECT OFFER + DIRECT OFFERProspecting Marketing

(Indirect) I just sold a home down the street and was wondering if you know anyone else who might be interested in selling their home? No? Well, great. (Direct Follow-up) Before I leave, do you mind if I ask you another question? Are you considering selling your home?

(Indirect) Interested in lots with the best view? Call today toll-free, or visit my website. (Direct Follow-up) I noticed that you called our toll-free line inquiring about lots with views. When can we get together to take a look at them?

Examples of Indirect Offers Best-buy list•

Free foreclosure list•

Property hotlines•

Custom property searches•

Special reports•

Money saving offers•

Have you seen others?

Outcome Frame Your Message Remember to construct your messages by outcome framing with the end in mind. Address the buyer or seller’s most pressing fear right away and they’ll know that you care about them.

Message to seller whose biggest fear is not selling his home

Script!“In a market like this, the real estate agent you retain to get your home sold really matters, because getting your home sold isn’t easy, and just putting your home on the market doesn’t get it sold. I will show you how your home will sell while other homes won’t.”

31


Find the Motivated

Message to buyer whose fear is not getting a good deal

Script!“As a buyer in this market, the agent you choose really matters, because you want to find not only a home you like, but one that is a safe investment.”

Aim of Every Conversation When you do get an opportunity to speak with a person, don’t waste it! Remember that every time you talk to someone, it is an opportunity to build a relationship. It’s a chance to connect on a personal level. How’s the family? What have you been up to? And on a business level—how’s your business?

Every conversation is a chance to get into discussion of the market: “Let me tell you about the real estate market!” Just remember, the gift of gab should never be mistaken for natural sales skill.

Ask for business•Ask for referral•Build the relationship•

MOFIR

Complete the table on the following page in preparation for pros-pecting for motivated buyers and sellers. Think of 1-3 needs or wants your buyers and sellers have. Compose direct and indirect responses addressing these specific needs.

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Find the Motivated

They need …

My offer for direct response is …

My offer for indirect response is …

Buyers

Sellers

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Sources of LeadsThere are many sources of leads—those that come exclusively from prospecting and those that come from marketing. The table below is from The Millionaire Real Estate Agent.

Prospecting MarketingTelemarketing1.

FSBO (For Sale •by Owner)Expireds•Just Solds•Just Listeds•Past Clients•Allied Resources•Geographic Farm •Area

Apartments•Corporations•Builders•Banks•Third-Party •CompaniesSphere of •Influence

Face-to-Face2. Door-to-Door Canvassing•Open Houses•Client Parties•Networking Events•Allied Resources•Social Functions and Community Events•Seminars•Booths at Events•Teaching and Speaking Opportunities•Personal Meetings (meal, pop-bys, etc.)•

Advertising1.

Newspapers•Personal Vehicles•Radio•Magazines•Bus Stop Benches•

Billboards•Yellow Pages•Television•Grocery Carts•Moving Vans•

Promotional Items (Magnets, Pens, etc.)2.

Internet Websites3.

Direct Mail4. Postcard Campaigns•Newsletter Campaigns•Just Sold/Just Listing Cards•Special Events Cards•Quarterly Market Updates•

IVR and Computer Retrieval programs5.

Broadcast6.

Voice• Email• Fax•

Signs/Directional Signs/Brochure Boxes7.

Name Badges/Logo Shirts/Car Signs8.

News Releases/Advice Columns9.

Farming10.

Geographic• Demographic•

Sponsorship11.

Little League• Charities• Events•

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Sources of Leads

Identify and Prioritize Your Lead Sources

Begin by listing your top ten sources of leads with number generated in last week/month/quarter/year (choose one).

(example: Calls to Sphere - 14)

_______________________________________________1.

_______________________________________________2.

_______________________________________________3.

_______________________________________________4.

_______________________________________________5.

_______________________________________________6.

_______________________________________________7.

_______________________________________________8.

_______________________________________________9.

_______________________________________________10.

Prioritize the list by number of leads, and put your focus on the top 5!

Focus on Prospecting“Success is the progressive realization of a worthy goal or ideal.”

earl niGhTinGale

In a shifting market, almost all successful agents agree that lead generation efforts should be focused on prospecting, and enhanced by marketing. The reason is pros-pecting doesn’t have to cost much and this is a time when you need to be careful with your expenses.

Prospecting may be a stretch for you—you may be uncomfortable calling people or talking directly to people and asking for business. But as pointed out before, pros-pecting with direct response is the quickest path to finding motivated buyers and sellers.

There are many prospecting options—from FSBOs and open houses, to door-knocking and working with your Mets. And there are great Keller Williams courses (CAMP 4:4:3, Lead Generation 36:12:3, and the MREA courses) that give specific guidelines and best practices for how to do each one. Pick one method of prospecting and master it. Then, and only after you’ve mastered one, add another technique.

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Sources of Leads

Q: How are you powering through the market in Tampa, Florida?

A: Nathan Bangs was recently featured on the front cover of Keller William’s OutFront magazine as one of many “Invincibles” who are powering forward amidst obstacles. “I make more phone calls. I go to more listing appointments. It’s about quantity, but I am also working smarter,” explains Nathan.

For more detailed information on prospecting, refer to KWU’s Lead Generation 36:12:3, Power Session 2: Prospecting.

Set Up an Environment and a Schedule for Prospecting The environment in which you prospect can have a positive or negative effect on your results. To achieve maximum focus and productivity, follow these guidelines.

A place with no distractions—preferably with a closed door•

A mirror—so you can watch your expressions •

Scripts—so you know what to say•

Your Big Why—to keep you focused on why you’re doing this•

Affirmations—for a positive mindset•

No interruptions•

No cell phone •

No voice mail •

No email•

Get in the Path of Business In a shifting market, your source for leads shifts toward the highly motivated buyers and sellers. Listed below are some sources of leads that are obvious because they get you in front of the sellers and buyers who are most likely ready now.

Sellers

Expired Listings•

FSBOs•

Buyers

Open Houses•

Investors•

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Sources of Leads

More Expired ListingsMore expired listings are showing up in this market—the reasons are varied, but may include overpricing, poor condition, or sellers who don’t know or understand the current market. These sellers have already expressed their need or desire to sell—and need help!

Savvy agents are going after the expired listings by telling the sellers the truth about the market. Top agents Sharon Hamilton, of Santa Rosa, California, Bruce Hardie, of Spokane, Washington, and Chris Heller, of Encinitas, California, have all put expired listings at the top of their daily lead generation call list, and are having great success with this source of leads.

If you go after expired listings, have great scripts that address the fears and needs of these sellers. Have your market stats ready, along with a list of owners to call each day, and start calling them early every morning. Be consistent and don’t give up on them. Research shows that more than half of the agents who contact expired listings give up after a couple of weeks. So be the one who stays in the game!

Grow Your Investor BusinessA buyers’ market is a great time to buy—that’s why it’s called a buyers’ market! Devel-op an investor base and keep them posted on the opportunities in the market. They, more than other buyers, understand the importance of urgency to get the best buys in this market.

Know your market and what’s available on a daily basis by previewing properties that come on the market. Let your special investor clientele in on the best deals as soon as they come up. Also become skilled at preparing returns on investment (ROI) analysis for your clients.

Network with other agents who also work with investors, and know when properties become available even before they hit the local MLS. Offering properties from this “hidden” or “secret” market will make you invaluable to your clients.

For additional information on working with investors, read The Millionire Real Estate Investor.

Repeat and Referral Business

Don’t Forget Your MetsYour Mets are important to your business and you may have been neglecting them. Get back into regular communication with them and continue to build your database of Mets. You don’t need a reason to call your Mets. Call to say “Happy New Year,” or “I’m hosting an open house next Sunday, would you like to come visit me?”

37


Sources of Leads

Mets are your greatest source of referrals, so be certain to remind them that you are in real estate and you are there for them. And don’t forget to ask for referrals. Keep your Mets updated on the market. In fact, telling them about the market gives you a great reason to contact them. Copy articles off the Internet, or out of magazines and newspapers, and send them along with a short, hand-written note to those in your database. Be enthusiastic and positive about the market.

Script!“I wanted to let you know that I helped one of my customers get a great deal on a home in your neighborhood recently. There are other great properties out there and I would like to help other buyers get into safe investments. Do you know anyone who is looking to buy?”

Tip!

The Rivers Team of Tallahassee, Florida, mailed a postcard to their database of Mets with the message, “We’re going green. If you would like us to communicate with you via email or phone, please call …” They were able to touch their Mets with a positive message, update their database with current contact information, plus cut down on printing and mailing costs. Win-win-win!

Treat Your Past Clients SpecialRemind past clients that you’re in real estate, that you’re doing great, and that you rely on and appreciate referrals from them. Set up special past client events—get-to-gethers, fund raisers, gift-giving opportunities, etc., to keep top-of-mind status with them.

Script!“Hi, this is ________ of Keller Williams Realty. This call is about business, do you have a minute? I haven’t talked to you in a long time and first I wanted to check that you’re still enjoying your house and that everything’s going fine.”

“I wanted to let you know that I have a lofty goal this year to help 100 families buy, sell, or invest in real estate. Who do you know that I might help?”

Get Out in Your Community Be visible in the community by attending networking events related to church, sports, hobby, gym, shopping, rotary, etc. If you haven’t already done so, join some of these groups, and talk to more people. Your goal is to get in dialogue with people about real estate and tell them what you know about the market. You’ll find that most people are very interested in this topic and will quickly engage, especially when you are knowledgeable and enthusiastic.

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Sources of Leads

Get CreativeHere are some prospecting ideas that others are having success with. Try one or more. It’s about going from E to P—Entrepreneurial (what comes naturally) to Purposeful (what’s not natural and may be uncomfortable).

Internet

Consider blogs and e-zines (electronic newsletters.) Get your expertise in •front of a lot of people. You don’t have to be a great writer, but you do need to know your facts. It does take time—you must keep new content posted regularly so people will come back to your site. Each Keller Williams associate is provided a free blogging account. To setup your account, visit the KW Intranet, and click “My Website.” For useful information on blogging, check out www.realestatetomato.com.

Instead of email try:•

Instant messaging•

Video email•

Cell phone texting•

Multimedia cell messaging with pictures, video, voice, and text•

RISMedia.com reports that “Many real estate agents are using tools like •MySpace, Facebook, Craigslist and LinkedIn to publicize listings and update their colleagues, customers, friends and family about what’s going on in the market.”

Q: How are you using technology?

A: Bruce Hardie, a very successful agent in Spokane, Washington, is now using video email. He responds to incoming Internet leads with an email that shows him talking to prospects and addressing their specific interests or ques-tions. He explains that even for a nontechie like himself, it’s easy, fun, and a great personal approach.

Short Sales and Real Estate Owned Properties (REOs) If you’ve never worked with short sales as an alternative to foreclosure, you can develop your skills in this area and truly help people out of a bad situation. Also, work with banks on their REO properties to get them sold. These are great sources of leads, but do your homework first. Find out what it takes to handle these transac-tions legally and to mutual benefit.

39


Sources of Leads

For additional information on working with short sales and REOs, see An Agent’s Guide to Short Sales, Foreclosure, and REOs. Also, con-sider enrolling in the KWRI MAPS Short Sales coaching program.

Builders Builders have inventory they need to move. Partner with them to bring buyers to them. Builders are looking for agents to be very creative and legal, and to get their properties sold.

Ethnic Groups There are increasing populations of different ethnic groups in nearly all communities. In fact, immigrants represent 35 percent of the first-time home buyer market. Latinos are the fastest-growing segment now and Asians will soon become the fastest-growing segment.

Are you avoiding them, or tapping into them? If you choose to specialize in the needs of a particular ethnic group, you will want to study their culture—how they conduct business, who the decision makers are, what’s important to them—as well as their language.

Generations Consider specializing in the needs of different generational groups.

“If you want to have a future in the real estate busi-ness, you must think about the customer of tomor-row.”

saul klein san dieGo, CaliFornia

According to RISMedia.com …

Baby boomers (1946• −1964)—are interested in large homes and second homes.

Gen X (1965• −1979)—prefer communication by email and direct mail, are buying homes for growing families, and are interested in up-and-coming neighborhoods with good restaurants.

Gen Y (1980• −2000)—represent 25 percent of the total U.S. population, use the Web for shopping and research, and prefer small homes close to work, recreation, shopping, and entertainment.

40


Sources of Leads

Uncover Buyers

Those people who have been working on increasing their credit score may •now be in a better position to be approved for a mortgage. Find these poten-tial buyers through mortgage lenders and banks. By working closely with a specific lender, you can offer lease/purchase deals to match qualifying buyers with eager sellers and get a contracted sale at the end of a lease—offering time for the leasing buyer to complete their qualification work with the lender.

NAR statistics reveal that people move every six years and move approxi-•mately 15 miles from their current location. What if you data-mined for homeowners who meet these two criteria and targeted them?

Investors can be great sources of multiple transactions. Track down investors •through rental companies and service contractors they employ.

College grads fall in the Gen Y group and are eager to purchase their first •home. What if you advertised in college newspapers and at college job fairs, and held first-time buyer seminars?

Sources of Leads

Which new sources of leads will you explore? By when?

________________________________________________________________________________________________________

________________________________________________________________________________________________________

________________________________________________________________________________________________________

________________________________________________________________________________________________________

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The Bottom LineDo something now! Master lead generation and you will master your career, business, and life. Be bold, be proactive, and be smart. Get out in the market, discover what buyers and sellers really need from you, and then find the motivated ones and get to them first.

There is enough business for you, but the leads are fewer and the competition is tougher. Study your market, learn your scripts, and be clear on what you have to of-fer. Get creative and replace your own fear with action.

Get Going!Shift your mindset about lead generation•

Study your market and your industry every day•

Practice what you say every day•

Lead generate three hours every day•

Use direct response prospecting as the quickest path to business•

Find and help the motivated, and put less motivated leads on the back burner•

Use assertive language—get to the point•

Get back to your database—build it and communicate with it•

ASK for business!•

It’s crunch time for lead generation—it’s time to find the motivated!

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The Bottom Line

Offer Market Snapshot ♦ To keep the people in your database informed of the local market, use Market Snapshot, offered through TOP PRODUCER. Market Snapshot is an email service that automatically sends a newsletter and regular reports to prospects and customers containing current information about home sales activity, price trends, and days-on-market stats for the area. (Page 15)

Stay on Schedule with Electronic Calendar ♦ Use an electronic scheduler to track your appointments and lead generation time. Most electronic schedulers synchronize with PDAs and smart phones to help keep track of your schedule when away from the office. (Page 24)

Take Advantage of Free Marketing Materials ♦ ProManage marketing materials are available as free downloads to KW asso-ciates, and are included in the TOP PRODUCER library at no additional cost. The postcards, emails, letters, and guides are targeted with direct re-sponse messaging for buyers, sellers, FSBOs, and expired listings. (Pages 29)

Increase Exposure with Free Blogging Account ♦ Each Keller Williams agent is provided a free blogging account. To set up your account, visit the KW Intranet and click on “My Website.”(Page 48)

Purchase List of Prospects ♦ Check out services like www.dataleader.com to purchase lists of prospects based on various demographic, homeownership, and professional criteria. These lists can be used to target specific groups for lead generation. (Page 49)

Productivity Boosters

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ScriptsCalling Expired Listings Chris Heller of Encinitas, California, calls expired listings every morning. He asks a series of aggressive questions, and avoids making statements or telling the seller anything.

Agent: I see that your home didn’t sell. When are you planning to interview the right agent to get your home sold?

Agent: If you stay with the same agent, what makes you think it’s going to sell this time?

Agent: If we could sell your home for more money now rather than less later, would you be interested in discussing it?

Dianna Kokoszka, president of MAPS Coaching at Keller Williams Realty Interna-tional in Austin, Texas, offers the following scripts for expired listings.

Agent: So, you’re going to take your home off the market? Well, let me ask you if your home did sell where were you going to move? (this rekin-dles their emotion about moving)

Agent: Have you already signed with the other agent?

No? If you had a serious ailment, wouldn’t you want a second opin-ion? This is like financial surgery.

Yes? Well, I wish you the best, thank you.

Calling FSBOs Dianna Kokoszka offers the following script for calling FSBOs.

Agent: I see that you are selling your home, and I understand that you’re bet-ter off selling it yourself then to work with a weak agent. If I can show you how you could make more money with me, can we meet?

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Scripts

Calling Mets Agent: Hi, this is ________ with Keller Williams Realty. This call is about

business. Do you have a minute?

Great! I wanted you to be the first to know that I/my group is going to sell 100 homes this year. Who do you know that wants to buy, sell, or invest in real estate?

Thanks for taking a moment to speak with me. If you do hear of someone, do you mind picking up the phone and letting me know?

Agent: Hi, it’s ________. It’s a great day and I was just thinking about you and wanted to check in with you. Do you have a moment? I would love to share some good news about the real estate market.

Agent: I wanted to let you know that I helped one of my customers get a great deal on a home in your neighborhood recently. There are other great properties out there and I would like to help other buyers get into safe investments. Do you know anyone who is looking to buy?

To a Past Client Courtesy of Dianna Kokoszka.

Agent: Hi, this is ________ of Keller Williams Realty. This call is about business, do you have a minute? I haven’t talked to you in a long time and first I wanted to check that you’re still enjoying your house and that everything’s going fine.

Great! I wanted to let you know that I have a lofty goal this year to help 100 families buy, sell, or invest in real estate. Who do you know that I might help?

Agent: I really enjoyed working with you in the past, and I’d be honored to provide the same level of service to people you know. Do you know of someone that I could help?

Agent: We should talk every year about your real estate portfolio.

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Scripts

Door-knocking Agent: Hi, I’m _________ and I do business in the area, and all the neigh-

bors are having me send information on the neighborhood—what’s selling, prices, etc. I’d like to include you.

And by the way, are you considering buying or selling?

Agent: Hi, I’m _________ and I’m going to the homeowners association. Is there anything you would like me to bring to them? If it’s okay with you, would you mind if I stayed in touch and sent you news about what’s going on in the neighborhood?

Agent: Hi, I just helped sell a house down the street and we had a lot of interested buyers. Are you considering selling sometime in the near future?

Agent: In a market like this, the real estate agent you retain to get your home sold really matters, because getting your home sold isn’t easy, and just putting your home on the market doesn’t get it sold. I will show you how your home will sell while other homes won’t.

Agent: As a buyer in this market, the agent you choose really matters, be-cause you want to find not only a home you like, but one that is a safe investment.

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My Action PlanDon’t put away this training guide without developing a plan to put what you have learned into action!

Review the key “challenges” listed below and assess your current ability to meet each challenge on a scale of 1−5.

1 = “I have no experience with this.”

2 = “I am not very good at this.”

3 = “I am pretty good at this.”

4 = “I am confident with this.”

5 = “I am an expert at this.”

For any rating of 3 or below, write down the action steps you will take to increase your understanding, build your skills, develop your confidence, see greater results, and take home more money!

Challenge Rating Action StepsI understand that I must 1. master lead generation, and develop a daily habit of three hours devoted to lead generation.

I know that my mindset 2. affects my business.

I have set goals for next 3. year for number of transac-tions, etc.

I understand the big picture 4. of the market and which numbers really matter.

I regularly review sources 5. for local and regional market data so that I can be more knowledgeable than the media headlines.

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My Action Plan

Challenge Rating Action StepsI understand the needs of 6. my customers and make offers for immediate re-sponse.

I regularly practice scripts 7. and dialogues that address the needs of today’s market.

I prospect more than I 8. market.

I am creative in my lead 9. generation efforts and have tried new sources of leads.

If I have the best conver-10. sion rate of anyone on my staff, I am handling the lead conversion to its con-clusive end.

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Notes

shift tactic 4: upshifting your lead generation€¦ · fr o m shift in a market where there are...

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