The person that can change the most will succeed the most. In our fast changing, still highly competitive and shifting market, your agents need to be ahead of the shift, and it starts with taking a quick inventory of what strategies are effective and which are ineffective in today’s environment.
Most of the time, real estate agents are using outdated and irrelevant scripts and phrases to navigate new issues facing us literally weekly or even daily. Scripts they were saying from two months ago and even two weeks ago either don’t work today or are completely irrelevant and may cost your agents time, money and lost opportunities.
With many markets seeing a drop in value and homes sitting on the market longer, without 5 – 24 offers in the first three days, we are seeing homes sell within 10 days with one offer, and that offer is coming in under list price. This is historically resembling the old ‘normal’ market for a lot of the country. This change requires your agents be ahead of the change. Knowing how to navigate it before dealing with it live. This is a lot easier for the agents who have been in the business for more than three years. Regardless of your agents’ years of experience, what they were saying 30 days ago, or even 14 days ago, is most likely not effective in today’s market.
Therefore, it is vitally important to train and coach your team on how to use more successful strategies to win and sell more listings, negotiate better and convert more leads into closed business. Use these proven and creative methods to provide your team members with a confident way to speak, add more value and ultimately—and most importantly—get hired:
- Train new scripts and dialogues. Conduct a team workshop on “How to Deliver an Impactful Listing & Marketing Presentation.” Teach and train your agents on the best scripts to use in this changing market to best manage expectations.
- Determine seller motivation. Help your agents learn how to ask leading questions to determine seller motivation. With the resetting of home values, it is important for agents to thoroughly discuss many strategies for obtaining the highest fair market value that meets the seller’s timeline.
- Discuss pricing strategy options. It is important to have a pricing strategy that achieves the seller’s goal. Talking about their options and the risks and benefits of each option allows your agents to narrow in on what is most important for the seller. Instead of bringing all the ‘comps,’ discuss a ‘competitive market analysis’ where your agents can position their home at the highest fair market value to achieve an offer.
- Manage expectations with a negotiation strategy. It is so important to teach your agents to cover the negotiation strategy before the offer comes in. Having the discussion of 1) where the offer may come in at, 90% of list price, and share what that number is, and 2) what the next course of action will be by setting the stage now that we will counter all offers that are in writing. This will help your agents manage expectations more effectively so that their clients are hearing the options before the real offer is presented. This allows your agents the ability to remove the emotional reactions that occur and impede on helping create a win/win negotiation. This strategy will result in way less stress for clients and agents, and will increase successful closings.
The truth is, it’s still a very good time for homeowners to sell and buy. It is important that your agents communicate a highly positive and enthusiastic message that shows confidence and is also extremely value-added and solutions-based. Provide options that equip clients with solutions and effective strategies to accomplish their real estate goals. Your agents can practice and role-play these strategies so they can compete at a higher level and win.
Download Johnson’s Exclusive GoldMine Pipeline™ Strategy to get your agents closing more leads into listings, sales and ultimately income. This system can double their production, fast. Go to www.goldminepipeline.com for my Free EBook and the Worksheet. These are just a few of Johnson’s proven and exclusive leadership and development strategies that produce amazing results quickly. For more information about Sherri’s exclusive turnkey team solutions to scale your team, contact Sherri Johnson at www.sherrijohnson.com/onetoone for coaching plans.
Sherri Johnson is CEO and founder of Sherri Johnson Coaching & Consulting. With 25 years of experience in real estate as a top agent, broker, and executive responsible for over 750 agents and over $1.7 billion in annual sales volume. Sherri offers her exclusive and proven methods through custom, one to one coaching and tailored consulting services. Sherri is a highly sought-after keynote speaker delivering high energy and real solutions audiences love. Sherri has been named a RISMedia Real Estate Newsmaker in 2020 and 2021 as an Industry Influencer and Thought Leader. She is the author of the Sherri Johnson Academy, an on-demand learning platform as well as the 90-Boot Camp. Sherri is a preferred coach, consultant and speaker for top 10 international brands and brokerages and can dramatically increase your company’s revenue and profits. Visit www.sherrijohnson.com for more information.