Real Estate and the Millennials

Real estate and the Millennials Blog series by Rick Guthrie According to the Pew Research Center , in 2015, the “Millennial” generation is projected to surpass the “Baby Boomers” generation as the largest living generation. The Millennial generation is typically classed from the ages 18-34 or born around 1980 through 2000. This presents an opportunity […]

Real estate and the Millennials

Millenials how may we help?Blog series by Rick Guthrie

According to the Pew Research Center , in 2015, the “Millennial” generation is projected to surpass the “Baby Boomers” generation as the largest living generation. The Millennial generation is typically classed from the ages 18-34 or born around 1980 through 2000. This presents an opportunity to look at the way we as real estate professionals are conducting our business. Are we attracting potential first time home buyers? Are we communicating our value proposition in such a way that the Millennials are hearing it and understanding it? Do we know the struggles and challenges that a Millennial may have in the home buying process? Are we attracting enough young talent to the real-estate industry that can support our need to service this next great generation? The average age of a real-estate professional is 57 years old. So the answer to the question above is probably no.

Over this next blog series I’m going to be doing some research and strategizing on how we as real-estate professionals can not only positively impact the “Millennial” real-estate client but also attract and train “Millennial” real estate professionals.

Many researchers have found “Millennials” to have high levels of self-esteem as well as a healthy feeling of self-entitlement. They are extremely tech savvy and communicate through a wide variety of social media platforms and for the most part seem ambitious.

Some challenges include high student loan debt. Not necessarily bad credit but no established credit. There seems to be more of a trend of job and career hopping.

The fact is every generation seems to have or have had a very definable established pattern. This of course stems from who and how they were raised. What events in history have shaped their character and belief systems.

I want to spend the next few months on looking at this from a view point of, “How do I affectively create a value proposition that is attractive to the “Millennial” real-estate client. The average age of the first time home buyer is 31.

So let’s seek to understand the “Millennial”. This is going to be fun. Stick with me and blog you soon.

Open or Closed

Open or Closed By: Rick Guthrie Rick Guthrie is the Team Leader at Keller Williams Fairfax Gateway in Fairfax, Virginia.  Today he discusses Open or Closed at his team meeting and with you. With the real estate industry is seeing a rise in For Sale By Owners in our market it is important to know […]

Open or Closed

By: Rick Guthrie

Rick Guthrie is the Team Leader at Keller Williams Fairfax Gateway in Fairfax, Virginia.  Today he discusses Open or Closed at his team meeting and with you. With the real estate industry is seeing a rise in For Sale By Owners in our market it is important to know how to address these potential clients.  Do you know the difference between an objective and a concern?  Using open or closed questions makes a difference in how potential clients will give you helpful information.  In return the answers to your potential clients question will be key in getting the right knowledge to better know how to address your client’s concerts and/or objectives.

The key to  asking questions is to know what type of question to ask when. Then the next thing you need to do is listen and truly make sure you understand. Finally you need to know what your potential client is conveying concern or objection and knowing how to distinguish the two so that you can better help them.

For more information about becoming an agent, learning how to apply these techniques and tons more please contact me by clicking here.

Rick Tip-Your Top Ten Closes

Rick Tip – Your Top Ten Closes By: Rick Guthrie Lately I’ve had agents that were frustrated about not being able to close to an appointment. Really, for the most part, that’s what we’re trying to do while we’re lead generating is close to an appointment. Everyone should have their specific script they’re using for lead […]

closesRick Tip – Your Top Ten Closes

By: Rick Guthrie

Lately I’ve had agents that were frustrated about not being able to close to an appointment. Really, for the most part, that’s what we’re trying to do while we’re lead generating is close to an appointment. Everyone should have their specific script they’re using for lead generating to their lead zone sources. But do you have a specific closing technique that fits not only you but also the situation? Have you made yourself a practitioner at closing to an appointment? Well here are the top 10 closes that most professionals are using to get that appointment.

Before I get into these let’s talk about the difference between concerns and objections. It seems that many seem to think that they are basically the same thing. We as professionals lump them together. Honesty by definition they are way different.

A concern by definition is something that causes anxiety or worry.

An objection by definition

a)     a reason or argument presented in opposition

b)     a feeling or expression of disapproval

I don’t know about you but I would like to handle a concern rather than an objection. In an objection we’ve created an argument basically.

So to lean more in the direction of concerns we need to build rapport. We need to come from an attitude of curiosity and find out what the potential client needs by asking open ended questions. Those are basically questions that do not require a yes or no.

  • Why is that important to you?
  • Describe that to me.
  • Tell me more about that.

When we get that information and build that rapport it lends the opportunity to use one of the following closing techniques to close to an appointment.

10 Different Closing Techniques

  1. The Hard Close; “Let’s Meet”
  2. The Soft Close; “I’ve really enjoyed meeting with you. Would you like to get together and discuss this further”?
  3. The Direct Close; “Can we meet today”?
  4. The Indirect Close; “Would it be okay if I got you some information to look over and then we can meet to discuss”?
  5. The Trial Close; “Have we gone over enough today that a meeting would be our next step”?
  6. The Assumptive Close; “It sounds like we should meet. Would tomorrow at 4 be okay or would 6 be better?
  7. The Negative Positive Close; “Would you be offended if I asked if we could meet to go over this”?
  8. The Take Back Close; “I’ve really enjoyed talking with you. To be honest, I’m not sure if I can help or not but I’d be honored if we could meet to find out”.
  9. The Tie Down; “Wouldn’t make sense for us to meet in the next day or so”?
  10. The Alternative Choice Close; “What works better for you? Meeting today, sometime this afternoon, or tomorrow morning?

Your technique doesn’t happen overnight. It has to be practiced and used. The more you lead generate with these tools the better you get. I suggest in the morning you get a RPP (Role Play Partner) and practice the script for the day, get warmed up and hit lead gen hard.

Hey see what happens

Blog you soon!

 

 

 

 

 

 

So You Want to Sell Real-Estate. "The Listing It's Easy as A.B.C."

So You Want to Sell Real-Estate. A seven blog series to quick start your business Blog 6 “The Listing It’s as easy as A.B.C.” By Rick Guthrie So far we’ve covered; 1. Is a career in Real estate for you? 2. Your first step which is developing a book of business or a database 3. […]

Sell real EstateSo You Want to Sell Real-Estate.

A seven blog series to quick start your business

Blog 6 “The Listing It’s as easy as A.B.C.” By Rick Guthrie

So far we’ve covered; 1. Is a career in Real estate for you? 2. Your first step which is developing a book of business or a database 3. Then establishing your farm area. 4. Knowing your product5. You’ve got to talk with someone.

So everyone has heard the saying. “You have to list to last” in this business. After 15 years in real-estate I’m in whole hearted agreement. As a Matter of fact I’m going to say this, “You have to list to live or work for someone who does.”
I see agents buying up zip codes to get seller leads through Trulia and Zillow or maybe something similar. I’ve heard several agents and brokers outraged because they’re having a hard time competing against these larger organizations with all the dollars. So several are taking on the attitude “If I can’t beat ‘em join ‘em.” and I think that’s a personal decision which is fine. Now I’m not going to use this blog to state my opinion on the importance of always watching your local boards and who you’re allowing to buy your clients away from you, maybe another time. The fact is, the big players are pouring in lots of dollars to get top page placement and I really can’t see that going away. So you can’t beat them……..at their game. Their game is broad, yours should be narrow. Their game is expensive, yours should be cheap. Their game is not about personal touch, yours should be nothing but personal touch. So I hope we agree, that in your mind, this will be as big or as small of an issue that you want to make it.

When I was new in the business I was getting a tremendous amount of competing listing appointments through a third party relocation company. I can see on the horizon that happening for a lot of you that rely on a third parties for your listing leads. Now if you don’t want to compete for that listing go back to the number 2 blog in this series. The facts are irrefutable. If you stay in front of your database you will not need to pay $40 -$70 dollars for a “maybe” lead. But let’s say you are finding yourself more and more in a situation where you’re competing for that listing. Or maybe you’re new and you’re competing for everything because your database isn’t hitting on all cylinders yet.

Years ago I realized that sellers prefer to hear information in a certain order. If you ask yourself what would be the first thing a seller would want to hear? Well the answer of course is what their home is worth. Enter my A.B.C. listing.

The first section is the “A” section or “Agreement on Price”. I’ve found that if you’re talking about anything else first, at your listing appointment, the sellers are not really listening. So if I’m giving them my marketing plan first and they’re wondering what their home is worth at that point my information on my marketing plan is not really getting through. So in my “A” section I’m explaining in detail the pricing on their home backed up with comparable properties and illustrating why the market will bear that particular pricing strategy. Once I’ve done that I get their agreement before I move on. Once I get an agreement on price then I move to my “B” section.

The “B” section is for “Build Value”. This should define your marketing plan, your open house schedule or whatever you do to bring them a buyer. Understand that when you get an agreement on price a clock starts ticking. They’re wondering how much they’re going to put back in their pocket after they close. So move through this section quickly but still make it impressive and informative. If you do a pre-listing packet and drop it off it should be this Build Value Section or your Marketing Plan. When you get to this point in the conversation ask them if they’ve reviewed your marketing plan and do they have any questions. Then move on.

The “C” section quite simply is the Close. All this is for me is a customer estimated net sheet already filled out. Now I have a self-figuring net sheet and I know many do. It should be easy to explain and be padded with estimated buyer costs paid by seller. We want to show them worst case scenario what they’re going to be putting back in their pocket after a successful close. After that is my closing question and here it is.

“Mr. and Mrs. Seller do you have any questions? No…. Great! When can I get your house in inventory?

If there’s any concerns they will come out then. I like to get all of the concerns or objections out on the table at the same time. One you should not hear is a pricing concern because we agreed on price 15 minute ago. Hmm you feeling the love.

I have a pre-made template and I teach this in a two day seminar so agents know it inside and out. The presentation is kind of plug and play.

This is my way but not the only way to list. I’ve seen a tremendous amount of conversions from new agents with this program. There’s a lot of you out there saying, “I have a one page script and that’s all I need because I’m just that good”. That’s nice….

Blog you soon.