people power! - rhonda hamilton · tailored delivery systems manual presentations, packets,...
TRANSCRIPT
People Power!
Individual Preferences!
�One size fits all
marketing and selling
practicespractices
�No longer works
�Success = ability to gain
trust and build rapport
SPEAK THEIR LANGUAGE
Delivery of information
must be made in a manner
that speaks to and
connects with the people connects with the people
you are interfacing with…
�Generations
�Behavior styles
�Gender
Tailored Delivery Systems
� Manual presentations,
packets, handouts
� Internet
� Website video
presentations� Laptop presentations
� Electronic
� Emailed info, disks…
� Website downloads
� Packets, checklists
presentations
� Youtube
� Econference using Skype + Freeconferencecall.com
� Face-to-face
Silents, traditionalists, veterans
� Kids of the Great Depression�Simple things were rationed�Learned to “save for a rainy day”�Morals and ethics defined your character
Learned to appreciate discipline, hard �Learned to appreciate discipline, hard work, self denial
�Learned� “Children are to be seen and not heard.”
� “Loose lips sink ships.”
�Command-and-control approach comes naturally
Silents, Traditionalists, Veterans
• Loyalty to institutions and
brands
• Value saving and frugality
Matures Characteristics
• Patriotic
• Courageous
• Community
orientedoriented
• Hardworking
Matures Characteristics
• Respect for authority
• Cautious
• Conformist
• Risk averse• Risk averse
• Sacrifice
BOOmers
� Kids of post-war prosperity
�Grew up with the Cleavers
�Grew up with the can-do optimism of J.F.K. and hopes of achieving the J.F.K. and hopes of achieving the “American Dream”
�Grew up hearing
� “Pretty is as pretty does.”
� “If you get a spanking at school you’ll get another one when you get home.”
� “Because I said so.”
� “Hard work pays off.”
BOOmers
�Social and political upheaval: Vietnam, Watergate, Woodstock
�Rebelled against social and political rulesrules
�Live to work
�Shocked generation
�Job losses
Baby Boomers
• Enormous size, 78 million
• Made tremendous impact
throughout all life stages
Baby Boomers
• Experienced economic prosperity
• Witnessed dramatic social change
• Known for strong work ethic and
dedicationdedication
• Take pride in success
• Expect to live well
Baby Boomers Characteristics
• Forever young
• Hate rules
• Ambitious
• Optimistic• Optimistic
• Individualistic (the "me"
generation)
• Seek immediate
gratification
Baby Boomers Characteristics
• Hardworking, careerist
• Idealistic
o support social programs
• Competitive• Competitive
• Materialistic
• Nostalgic about childhood
• Technology is a tool not a
lifestyle
Gen X� Kids of “nothing is
permanent”
�Saw job insecurity of parents
�Watched as parents �Watched as parents experienced job losses
�Watched deterioration of trusted institutions
�Latchkey lifestyles
�Rising divorce rates
�Home is here… and over there
Gen X� Low expectations for future
�Live for today
� Repulsed by hype and insincerity
� Their loyalty must be continually earned
� Grew up hearing:
�“Don’t open the door for anyone!”
�“When someone calls for me, say I am in the shower.”
�“Do your chores and homework before I get home.”
Generation X
• Independent, self-reliant
• Entrepreneurial
• More cautious and
skeptical, untrustingskeptical, untrusting
• Priority on relationships
over excess
• Quality of life/family
before career
• Work to live
Gen Y� Kids of the internet
�Social online … constantly connected� Go out in groups rather than on “dates”
�Grew up in a world that is constantly in motion, constantly revising and restructuring itself. constantly revising and restructuring itself. � Change is normal. And visual.
�Merged families
� Overscheduled� Grew up hearing, “You are special!”
�Self-esteem protected at all cost�Everyone got a trophy
Gen Y, Millennials
• 75.8 million, almost as
large as Baby Boomers
Gen Y, Millennials
• Collaborative, connected
• Apt to crowdsourcing
Gen Y, Millennials Characteristics
• Pragmatic, but empathetic with elders
• Sheltered, nurtured
• Helmets for biking & skating
• Knee pads, elbow pads• Knee pads, elbow pads
• Tolerant, inclusive
• Sensitive to multiculturalism
• Hopeful, Optimistic about the future
• Over scheduled and time pressured
Gen Y, Millennials Characteristics
• Multi-taskers
• Short attention span
• High tech / low touch
• Confident, direct• Confident, direct
• Casual
Gen X Gen y
� Accept diversity
� Pragmatic/practical
� Self-reliant/ individualistic
� Reject rules
� Celebrate diversity
� Optimistic/realistic
� Self-inventive/
individualistic
� Rewrite the rules
� Lifestyle – living on the edge
� Mistrust institutions
� Use technology – PC
� Latch-key kids
� Friends = not family
� Lifestyle – pursuing
luxury
� Irrelevance of institutions
� Assume technology–
internet
� Nurtured
� Friends = family
People Power!
Behavior StylesBehavior Styles
It takes all types!
Behavior StylesBehavior Styles
Four People Patterns -Four People Patterns -Traits
Analytical
� Relies solely on details and facts
�Realistic, logical, practical
�Number-cruncher
� Prefers listening over talking
�Very structured, very precise
�Systemized… thoroughly prepared
� Expects information to be correct
�tasks done correctly
Driver/Director
�Maintain control
�Values bottom-line, pertinent details
Direct, to-the-point�Direct, to-the-point
�Competitive
�Fast paced
�Decisive, Quick decisions
�Comfortable listening and talking
Nurturer/Peacemaker
�Dislikes conflict & confrontation
�Values being liked
�Often holds in thoughts & feelings
Nurturing, supportive �Nurturing, supportive
�Prefers listening
� Works within set parameters…by the
book
� Prefers conservative approach (afraid
to make mistakes)
Expressive
�Likes have fun & excitement
�Sociable – likes to talk
Usually creative, “idea” person, a �Usually creative, “idea” person, a visionary
�Energetic
�Disorganized
� Flexible, spontaneous
�Doesn’t like details/facts
Providing Value for the Analytical/Scientist
�Services and tools in place to minimize
mistakes and increase quality
�Provide facts & details in writing�Provide facts & details in writing
�Graphs, charts, statistics, numbers
�Make sure your info is accurate and
correct
There’s More…
Providing Value for the Analytical/Scientist
� Outline the issues, provide supportive documentation leading to a proper conclusion
Provide pros & cons regarding � Provide pros & cons regarding decisions
� Punctual & organized
� Give personal space
Providing Value for the Director/Driver
�Have in-depth knowledge of goals & objectives
�Communicate a plan for
� Not a lot of extra chit-chat
� Get to the facts
� Don’t give too �Communicate a plan for reaching those goals
�Help them maintain feeling of control
�Keep them informed
�Give them options
� Don’t give too much detail …Pertinent details
Providing Value for the Nurturer/Amiable
�Explain how your services/skills will be used to reduce conflict & confrontation
Talk about win/win
� Pleasant, relaxed demeanor
� No high pressure
� Allow time for �Talk about win/win
�Give warranties or pledge of performance
�Follow-up, follow through
� Allow time for decisions
� Help them commit
� Help them feel assured
Providing Value for the
Expressive/Entertainer
�Show them how the process will be pleasant, fun and exciting
�Shield them from the
� Lots of chit-chat, but allow them to dominate the conversation�Shield them from the
unnecessary details
�Avoid unnecessary paperwork and remove the boring details
�Visualize with them
conversation
� Give an open ear to their ideas
� Give sincere compliments
Prospecting for Businessfor Business
Business doesn’t fall from the sky
35
Direct Response Marketing
Questions (Examples)Targeting Expired Listings
� Did you review the advertisement and
information that was entered into MLS?
� Before pricing your home did you review a
market trends report?market trends report?
� Before pricing your home, did your agent
provide you with absorption rate analysis report
regarding the current market supply of listed
properties?
� Did you agent provide you with calculations
regarding the likelihood of your property selling?36
� Did you receive regular progress reports?
� Were you provided with a customized marketing
plan?
Direct Response MarketingTargeting Expired Listings
� Did your agent continuously promote your
property in accordance with a written promotion
plan?
� How often did your agent communicate with
you?
� Was a written commitment given regarding the
services planned by the agent?37
� How many photographs did the agent use in
MLS and in other marketing venues?
� Were you provided with a professional virtual
tour?
Direct Response MarketingTargeting Expired Listings
tour?
� Was a home protection plan offered during the
term of the listing?
� Did your agent do an Open House exclusively
for the neighbors?
� Did your agent send Open House invitations to
any “move-up” neighborhoods?38
Proactively DifferentiateDifferentiate
You, Your Company, Your
Services
39
By Demonstrating…
� Must be evident!
� Seen in actions and/or outcomes
� Felt in benefits received
Differentiate & Demonstrate!
1. Create a point of difference!
�Self
�Services -
Benefits
2.
Differentiate, Demonstrate & Communicate !
2. Communicate!
What TOOLS are �What TOOLS are
you using to
communicate the
differences?
SPEAK THEIR LANGUAGE!
…To Build Rapport & Trust
Create a point of differenceCreate a point of difference
��Make it about them!Make it about them!
��Caring Caring and helpfuland helpful��Caring Caring and helpfuland helpful
��Educate and Educate and prepareprepare
��Speak to their wants, Speak to their wants,
needs and concernsneeds and concerns
��SolutionSolution--Based Based
ServiceService
SPEAK THEIR LANGUAGE!
Provide Not ONLY…
�Solution-Based
…To Build Rapport & Trust…To Build Rapport & Trust
�Solution-Based
Service
Provide…
�Solution-Based
“Next-Level” Service
“Next-Level” Service
List – Pledge - Guarantee
��Must speak to Must speak to realreal--life wants life wants realreal--life wants life wants and concerns!and concerns!
�� think: think:
��Today’s marketToday’s market
��BenefitsBenefits
��SolutionsSolutions
Seller Super Services List
Buzzz Time!Wants & Needs
Solutions/Services
Concerns Solutions/ ServicesNeeds Services Services
Seller Super Services
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Listing StrategiesStrategies
What about a pre-listing appointment packet?
48
The Pre-Listing Package
� The pre-listing
package is your
introduction to the
seller and is the
� What would it
include?
�Goal is to build
3 3
seller and is the
opportunity to
provide a
“good first
impression”.
� Credibility –
position as
“expert”
� Trust
� Rapport
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The Pre-Listing Package
� Thank you note
� David Knox video:
Pricing Your Home…
� Success Book
� Seller Services List
� FAQs
� Copies of marketing pieces
3 3
Delivered prior to listing consultation
� Agent Comparison
Checklist
� Questions to ask before choosing an agent
� Checklist of items we
will need
� Copies of marketing pieces
� Testimonials (written and/or on video)
� Pledge & Survey
� Real Estate Miranda Warning
� Company info
� BIO/ Statistical successes
50
�Accolades
�Testimonials
Pre-Listing Packet
�Testimonials
�Statistics or info that demonstrates
Selling Process
Pre-Listing Packet
Process Flowchart
Pledge of Services
Guarantee!
Agent Comparison
Checklist
Pre-Listing Packet
Checklist
Agent Comparison
Checklist
Your Name Agent 2 Agent 3
Provides Absorption Rate
Analysis for CollaborativePricing
�
First Impression Market Ready Plan provided
�
Negotiation Strategy Session �
Transaction closing % ChecklistTransaction closing % 99%
Seller Representative Specialist Designation
�
Other Professional Designations
�
Reference list provided �
�
Listing StrategiesStrategies
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Standard of Practice 1-12Seller understands how commission is split
When entering into listing contracts, Realtors® must advise sellers/landlords of:
� 1) the Realtor®’s company policies regarding cooperation and the amount(s) of any compensation that will be offered to subagents, buyer/tenant agents, and/or brokers acting in compensation that will be offered to subagents, buyer/tenant agents, and/or brokers acting in legally recognized non-agency capacities;
� 2) the fact that buyer/tenant agents or brokers, even if compensated by listing brokers, or by sellers/landlords may represent the interests of buyers/tenants; and
� 3) any potential for listing brokers to act as disclosed dual agents, e.g. buyer/tenant agents. (Adopted 1/93, Renumbered 1/98, Amended 1/03)
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bedience
oyalty(Undivided)
isclosure(Full)
FIDUCIARY DUTIES
onfidentiality
ccounting
easonable Care &
Diligence
� HONESTY
� ACCOUNTING
� REASONABLE
� OBEDIENCE
� LOYALTY
� DISCLOSURE
Customers Clients
� REASONABLE
SKILL
� DISCLOSURE –
ONLY agency &
property
� DISCLOSURE
� CONFIDENTIALITY
� ACCOUNTING
� REASONABLE CARE
& DILIGENCE
Dual Representation� Represent two
principals in the same transaction
� Impossible to provide all the provide all the fiduciary duties to both parties Client Client
Conflict of interest exists
Limiting Duties Tip!
� Anytime you limit fiduciary duty
Example:
Intermediary-fiduciary duty services, you must get it in writing!
Intermediary-
Representing two parties in same transaction:
Agency Disclosure
� Timely
� Meaningful
1. Of all possible types of brokerage relationships available under state law
� Writtenavailable under state law
AND
2. The most significant implications of choosing one type over another.
Enables
consumers to
make informed
choices
Timely Disclosure to clients & customers
• Before agreement is entered into
• Before substantive discussions
� About real estate needs
� About financial capabilities� About financial capabilities
� Before exchanging any confidential
information
� Applies to consumers that REALTORS® have met
online
Meaningful Disclosure
• Must provide clear written explanation
• of all legal forms of brokerage
relationships available under state law
• Significant implications of choosing one • Significant implications of choosing one
over another
• even if the brokerage does not offer
all of those options
Consumer must understand the choices
Meaningful Disclosure
• Includes
• Office policies regarding cooperation
with other brokers
• Understanding & agreeing on possible • Understanding & agreeing on possible
dual agency (Texas: intermediary)
• with or without appointments!
Consumer can make an informed decision
Intermediaryexplanation
66
Selling Your Value
Validating your Value Package
67
Unbundling Services
68
Julie Garton-Good
Submission of Offers – Minimum
Services owed to Client
� Minimum Services clarified in 2005
� Mirrors long-
TEXAS
69
� Mirrors long-standing TREC rules and common law duties of agency
� If the buyer’s agent delivers an offer to the client of another broker with permission, the buyer’s agent must
Minimum services
70
permission, the buyer’s agent must also deliver a copy of the offer to the listing broker.
� The buyer’s broker may not engage in any activity with the seller that constitutes a negotiation.
Submission and Presentation ofOffers
MINIMUM SERVICES:
� Submit all offers
� Convey all known information to principal
71
� Convey all known information to principal
� Keep principal informed at all times
� Convey accurate information
� Negotiate (???) best transaction for principal
Minimum Services related to
Negotiations� Section 1101.557 of TRELA to clarify a
broker’s duty to negotiate.
� A broker who exclusively represents a client must, at a minimum:
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must, at a minimum:
�(1) answer the client’s questions if there are any about the offer or issues related to the offer;
�(2) keep the client informed of material information; and
�(3) present offers to or from the parties.
Min. Services in Negotiations (cont.)� A listing broker may NOT instruct a
buyer’s broker to negotiate directly with the seller.
� However, the mere delivery of an offer by one broker to a client of another broker
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one broker to a client of another broker does not violate TRELA if:� the delivery is made with the consent of the
client’s broker
�The agent does NOT engage in negotiations when the delivery is made, and
� the client’s broker receives a copy of the offer.
The CMAThe CMA
74
Making Adjustments
� Perhaps the most difficult task
� identifying an
estimate of value forestimate of value for
the dissimilarities.
75
Making Adjustments…
� NEVER ADJUST
THE SUBJECT
PROPERTY!
Always adjust the
� Formulas to
remember!
� Comp Better Subtract
Comp Inferior Add� Always adjust the comparable property
� Comp Inferior Add
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