Welcome!

Success Series Training Program

Requirements1. Must arrive on time2. Attendance mandatory – can only miss 1 class3. HOMEWORK IS REQUIRED4. Cell Phones off5. Food and Drinks ok!6. Maintain the right to excuse Student if not committed to classes or

RE career.7. If you do not receive PowerPoint Presentation within 24 hours after

class, it is your responsibility to contact Diane Edgley @ Dedgley@ipre.com.

8. Under NO circumstances should any new agents ask for help from seasoned agents in the office. Call Janet Withers at 561-762-4569 or your administrator.

The TruthAbout your Career in Real

Estate

Marketing and Prospecting

What Do I Need To Get Started?• Marketing and selling real estate, if done professionally, can’t be done part-

time.

• There is no structure, and there is no one telling you what to do.

• Create the most productive work environment—either at home or at the office.

• Don’t be too ambitious when setting your immediate goals—learn first.

• Procrastination and Perfectionism—the roadblocks to success in real estate.

• By really caring, you’ll be successful, but you may wear your heart on your sleeve.

• Think about your approach to life—do you go to it or wait for it to come to you?

• Visit www.keirsey.com to find out more about your strengths and weaknesses and then PLAN for them.

• Get your friends and family behind you for monetary and emotional support.

• Plan in advance for seasonal ups and downs in the business.

• It’s a good idea to have at least six months’ income stashed away—more for your first year in the business.

• Set aside a portion of each commission for taxes and retirement—talk to your accountant or financial planner.

 • For the amount of your capital investment, real estate has one

of the best returns.

• Your time = $. That’s all you have to sell.

• Use your intuition and then rely on it. • Get organized and eliminate clutter—develop systems &

checklists.

• Know when to say “no.”•  • Plan for recreation and family activities to avoid burnout. • Avoid the “junk food” syndrome and take care of your body

and spirit. • You can’t do it all so hire help, get a coach or trade services

with a buddy.

Tools of the Trade• Laptop, PDA or desk computer? • Software to be more productive:• Contact Management: ACT (+Trans/ACT), AgentOffice, Top Producer, or Outlook —a must

for tracking leads, databases, scheduling and to-do lists!• Tax Records: MLS, www.planetrealtor.com, or www.eneighborhoods.com for property tax

data & labels, www.co.palm-beach.fl.us/papa and http://paoweb.martin.fl.us • Maps: Microsoft Streets & Trips, MLS and www.eneighborhoods.com for CMA & Buyer

Tours• Phone Numbers: www.infousa.com, www.langenberg.com, www. 411.com,

www.anywho.com, msn, yahoo or reverse directories.• Mail: Quantum (IP Mail Center), Publisher or Lightning for flyers

See info@z-law.com for real estate software catalog • Forms: www.ipre.net or www.planetrealtor.com. • Daytimer/organizer, digital camera or scanner—a MUST! • Your portable office—your car!

• Dress for success to feel good about yourself and make a good first impression.

• Cell phones with voicemail.

• Measuring devices, signs, lockboxes. Maps, stamps, business cards, notecards and stationery.

Support•IPRE provides you with an office to receive mail/faxes/voicemail, meet customers, use the MLS, and store your files. •IPRE’s staff answers the telephones, keeps the equipment working, greets clients, handles showing instructions, manages transaction files, and inputs listings into the MLS.

•IPRE’s affiliates provide your clients with mortgage, title, warranty, insurance, home, commercial & business brokerage services. •IPRE’s management provides you with coaching, training, events, technology, marketing, advertising, and transaction help. •Your local and state realtor associations provide you with training, lockboxes, MLS, promotion, and camaraderie. •NAR provides you with lobbying, advertising, promotion, news, issues, and professional designations. 

 

• Internet: Check out www.realtor.com, www.ihouse2000.com, www.agentxsites.com, www.homes.com, www.advancedaccess.com, www.rechannel.com and www.homeseekers.com. Also, search Yahoo for “websites for realtors.”

• 800 Number and 24/7 Response: Proquest will set up an 800 number for you & multiple mailboxes to capture the names and phone numbers of everyone who calls. Call 1-800-959-6550.

• Tax Info: Visit your MLS, www.planetrealtor.com, www.firstamres.com or your local county property assessor’s website.

• Neighborhood Info: Provides data on sales, statistics, schools, etc. Call 800-975-9742 or visit www.eneighborhoods.com.

• Other: www.ipre.net, your monthly magazines, Florida Realtor® and Realtor® (NAR), plus attending FAR and NAR conventions offer resources for everything you need for your business.

Resources

Strategies

• You need to have a strategy to be successful. Who is your target?

• There are many ways to go about this business but concentrate on the one that has heart for you.

 • If you want to attract buyers, develop an absolute dynamite website, advertise

properties, or sit open houses.

• Put together a rental program to attract tenants and landlords, and eventually they will become buyers and sellers.

• If you want to have a life, go after listings by mailing, mailing and then mailing into target neighborhoods.

• Build a solid database and systems for reaching FSBO’s and expireds to attract sellers.

• Whatever strategy you use, do it consistently and thoroughly. Don’t give up!

Where Do I Get Buyers?From Open Houses

Advertising

Signs

Floor Time

Referrals

Relocations

Your own neighborhood

Friends and Family

Targeted Mailings

Where do I get Sellers?

From Across the Street and Around the World

The Internet

Open Houses

Advertising

FSBO’s & Expireds

Floor Time

Referrals and Relocation

Friends & Family

Mailings to your Farm Area

• It’s important to let the whole world know you’re in real estate. • Make a list of EVERYONE you know and start a database with their

addresses and phone numbers (this is called your “sphere of influence”).

• Send announcements to your sphere of influence and then another note after your first and second years’ in business.

• Call everyone on your list and ask for their business and referrals—these are “warm” calls, not “cold” calls.

• Ask for referrals on all your cards, correspondence, and marketing materials.

 • Hand out your cards to everyone you meet if appropriate and give a

stack to your relatives and sellers to hand out.

The Best Part of our Business - Referrals

Examples of Announcements

• Send a postcard, email or letter. It’s up to you.

Illustrated Properties is pleased to announce that Diane Edgley is now

affiliated with our PGA office. Please call Diane at 561-xxx-xxxx

Or

I am pleased to announce my new affiliation with Illustrated Properties Real Estate. If you know anyone interested in buying or selling Real

Estate, please give them my name and phone number. Etc…

• You may elaborate with the 32 Reasons to Use IPRE.

Floor Time

• Floor time is a privilege, not a right.

• It’s your responsibility to get a substitute if you can’t make it. (You lose the privilege if you don’t show up!)

• Know your inventory and check out what listings are being advertised.

• Your objective with each floor call is to:1) Build rapport2) Determine wants and needs of the caller3) Make an appointment to meet in person

• Be aware of potential conflicts.

Floor Time (cont.)• If you have any reason to believe that the caller is working with

another IPRE agent, then pass the call on to that agent, or ask the caller if he/she would like to leave a message with the other agent. If not, handle the call like any other floor call, but notify the other agent of the call AS SOON AS POSSIBLE. Always use the “Golden Rule.” Remember that the listing agent “owns” the call on his/her listing except when you paid for the ad.

 • If they walk into the office, they will be either tourists or buyers:

Welcome them and bring them into the conference room. See Wants and Needs Questionaire.

1) Don’t be too eager to give out information—wait to find out what THEY ask for—and tell them just enough to entice them!

2) Build rapport by listening to them.

Open Houses•Ask fellow agents if you can do open houses at their listings.

•Place open house advertisements in the newspapers well in advance of date.

•Meet with the seller in advance to see the home, and coax them to be absent so the buyers don’t feel like they’re intruding.

•Know your inventory and check out what listings are active and have sold recently in the neighborhood.

•Have room deodorizer with you—just in case the home needs it!

•Go through the home and make sure the lights are on where needed, window coverings are open & music is soft and low.

•Have your cell phone handy in case of emergency.

Open Houses Cont.• Tell your office and family where you will be and arrange for an

emergency code.

• Put a “Welcome” notice on the front door with the price of the home, and request qualified buyers only.

• Ask visitors to sign in as a courtesy, then follow up with a thank you note.

• Be friendly, but don’t talk a lot until the visitors get a feel for the home.

• Stay behind any visitor, be aware of their body language, and always have an escape route planned.

• Ask people to wait outside if there are too many in the house.

• Ask if they are working with a particular agent. If not, ask if they would like you to help them find homes that meet their wants and needs?

INTERNET•If you aren’t computer savvy, hire an assistant who is—you can’t survive otherwise!

•An attractive, informative, and easy to navigate website is a must to attract buyers. Choose a webmaster that you trust to “host” your website and keep a copy at home as a back-up.

•Customizing a template for realtors is much cheaper than building a site from scratch. See www.ihouse2000.com, www.agentxsites.com , www.advancedaccess.com or Z57.com

•Your auto-responder should send back colorful and attractive email.

•Response time is critical in converting leads to bona fide prospects. Call them!

•Most internet leads are from out-of-town buyers. Have packets ready to mail out and set the date for a visit asap.

•Understand how the search engines lead people to your website!

• Run the “Hot Sheets” from the MLS every morning to get a list of expired listings and call them immediately.

• Remember to courtesy call the former listing agent of an IPRE listing.

• Keep each day’s expired listings in a folder with the date and revisit them in a month, 2 months, 3 months, etc. if they haven’t sold or re-listed—call them! 

• Write them a letter or send them a card—offer them a free report or free market analysis as to why their home probably didn’t sell.

• Put them on your FSBO list if they try to sell their home themselves. • The #1 reason that homes don’t sell before they expire is that they are

overpriced.

Expireds

Social Networking

• Join all Social Networking websites.

• Examples of popular Social networking sites are Facebook, Linkedin, Plaxo.

• Use Twitter for Trendgraphix updates.

• Use these sites to promote you Real Estate business by:

• Advertise listings

• Announce your sales

• Perception

What is Marketing?

• Making Yourself Known—

• To Targeted Groups of People who are future Buyers and Sellers—

• Through Efficient and Cost-effective Marketing Channels—

• Repeatedly and Consistently—

• As an Agent with Special Knowledge, Unique Traits, Great Reputation or other Image (Your Personal Brand)—

• So people are compelled to call you for their Real Estate Needs

*If Landlord refuses to sign W-9, then make rent checks payable to Landlord directly

Developing your “Brand”

• Develop ways to set yourself apart from other agents:

• Your Name might be memorable;

• Your Appearance may be unusual;

• Your Car may be unique;

• A Slogan, photo or logo may brand your image;

• Your Knowledge —GRI, CRS, etc. say you are knowledgeable—what else?

• Your Expertise— Are you an expert regarding a market area or group? • Where you live— may open doors. • Community work gives you notoriety and enhances your reputation.

Developing Your Market Plan

• Once you have your “Brand” and “Targets,” you need a Marketing Plan.

• Your goal is to “attract” people who want to work with you, not be the person they get by default.

• Visibility is EVERYTHING.

• If you are visible, you create the perception you are knowledgeable and people will think you are successful.

• If you are visible, it doesn’t matter if you are new to the business.

• Repetition and consistency are the key.

• There are many ways to “skin the cat.”

Examples of Targeted Groups

• Age Group—example: First Time Buyers, Seniors or Empty Nesters.

 • Neighborhood or Development—example: “Breakers West.”

• Price Range—example: $200,000-250,000.

• Interest/Hobby/Sport—example: Tennis, Horse, Boating or Golf enthusiasts.

• Location—example: People who want to live on the beach, have a city view, waterfront living, or acreage. 

• Need—example: Divorce, relocation, newlyweds, kids or down-sizing.

• Type—example: Attorneys, Marinas, Golf Clubs, Accountants, etc. • Demographics: 2nd home buyers, investors, baby boomers,

retirees. 

Farming

•Choose a geographic area that you either love, live in, want to live in, have an interest in, know well, know the people who live there, or all of the above.

•Do a search in the MLS and find out how many sales are made each year in the farm and how much the average sales price has been over the past three years. Do you see a pattern?

•Are there enough transactions in the farm to support you each year? If not, you may need an additional farm(s).

Customers for Life

Lower Price Range

Medium Price Range

High End Price RangeFarm areas close in

geographical area but different price ranges.

Geo Area Farming• 600 – 1,000 Homes

Home

Neighborhood B

NeighborhoodD

NeighborhoodC

NeighborhoodA

Farming cont.

• Check out whether there is one agent or firm that seems to have a monopoly in the farm and figure out what they’re doing to be successful.

• If you have a lot of competition, determine in advance what you’ll have to do to take market share away from the entrenched agent or firm.

• Make sure you don’t have too many homes in your farm or you won’t be effective. You’ll need to contact them often before they know who you are—be patient, it takes several months.

Sphere of Influence• Participate in your local, state & national board activities for referrals.

• Attend real estate conventions to meet out-of-town agents for referrals.

• Be friendly and have a positive attitude.

• Get involved in churches, charities and community organizations. Join special interest groups—sports, political, music, etc.

• Be an active participant in your own neighborhood.

• Read the newspaper & know what’s going on. Attend important events. Go to town hall meetings, and become friendly with trades people.

• Keep business cards in your pocket. Follow up with everyone you meet.

ADVERTISING

Advertising•Choose a publication with a wide readership to your targeted group.

•Ask for the publication’s statistics. Categorize your ad correctly—where will the targeted group be looking for information?

•What are image ads vs. product ads?

•Develop a headline that will bring your reader into the ad to read more.

•Use a lot of “white space” around your ad to call attention to it.

•Less is better—say only what will compel the reader to call you.

•Avoid abbreviations and always include a price! •Make it VERY easy to contact you!

Writing an Ad•For the header, say what will capture the reader’s attention? Examples: “Room for 40’ Boat.” “Next to Natural Preserve.” “Walk to the Beach.”

•End your copy with a line that gives a sense of urgency to the reader.

•Ask other agents if you can advertise their listings if you have none.

•Use color whenever you can afford it.

•Some Recommended Books:How to Write a Good Advertisement—Victor Schwab

Tested Advertising Methods—John CaplesMake your Advertising Make Money—John Caples

Breakthrough Advertising—Eugene SchwartzWords That Sell—Richard Bayan

How to Write Advertising That Sells—Clyde Bedellwww.z-law.com has ad writing software

 

• 

Ad Law•All ads must comply with FREC rules. •All ads must include the licensed name of IPRE in full (as big as agent’s name)and lead a person to know they are dealing with a real estate licensee.

•The last name of the agent must be the same as on the agent’s license.

•On the internet, IPRE shall be placed “adjacent to or immediately above or below the point of contact information.”

•If a team name is advertised, the ad must include all members of the team.

•Cannot include any false, fraudulent, misleading, or deceptive statements

Ad Laws, Cont.

• Ads cannot state a preference, limitation, or discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin.

• If shared living arrangement, “female roommate wanted” is permissible.

• Common terms such as “mother-in-law suite”, “master bedroom”, “bachelor apartment” are okay.

• Cannot limit number or ages of children or state a preference for adults, couples or singles. “Nice Family Neighborhood” is questionable.

• May say “wheelchair accessible” or “nonsmoking.”

• Truth-in-Lending permits general terms like “owner will finance,” but not partial financing information like “$2,000 down.”

Direct Mail• “Just Listed” and “Just Sold” cards are very effective if timely.

• Keep in touch with holiday and anniversary cards to people you already know.

• Send useful articles or offer a free report on a topic of interest to sellers.

• “I have buyers” and “free market analysis” are examples of mailers to sellers.

• Consistency—both in format, style, image and frequency are keys.

• Thank you notes to FSBO’s for showing their home make an impression.

• Handwritten addresses and first class postage work better than labels and bulk mail.

Buyers or Sellers?Working with Buyers:

Pluses:• You don’t have to spend $ on ads;• You don’t have to cold call for listings:• You don’t have to spend $ on mailings;• You make new friends;• It’s fun to look at houses.

Minuses:• You are reactive, not proactive;• You need to know your inventory — cold!• Buyer’s don’t care about you;• Buyer’s schedule your time;• You’re never sure of a buyer’s motivation;• Buyer’s change their mind frequently;• You’ll have to spend $$$ on a website;• There’s no guarantee of getting paid.

Working with Buyers or Sellers?Cont.

Working with Sellers:Pluses:

• You are proactive, not reactive;• You know the seller is motivated to sell;• A listing brings you lots of buyers;• A sold listing brings you other listings;• You have a contract to get paid if the property sells.

Minuses:• You have to spend $$$ on ads and mailings;• You won’t get sellers from your website;• You may have to attend showings and conduct open houses;• You may have to be a quasi-property manager;• You may have difficulty with price and commissions.

Track Your Results

• Develop a system for tracking incoming calls and return the calls promptly.

• Determine if your calls are coming from ads, promotion, networking, sphere of influence, telephone solicitation, mailings or other marketing activities.

• At the end of each year, determine where you have gotten the most leads overall and what percentage resulted in closed transactions.

• It is VERY IMPORTANT to keep in touch with past clients and ask them for referrals.

• Old Saying: “1/3 of your time should be spent prospecting, 1/3 of your time with present transactions, and 1/3 of your time staying in touch with your sphere of influence and past clients

In A Nut Shell!“People who want and need the services of a

real estate agent will first call someone they know. If they don’t know anyone, they will then call someone they have heard of or who is recommended by someone they trust. Thus, to build their business, an agent has to 1) get to know a lot of people, 2) market themselves in such a way that people will call them if they don’t know of someone, and 3) do a great job so that people will refer them to others.”

It’s that simple!

Example Letter to FSBO’s Dear : Most people who put up a "For Sale by Owner" sign are immediately swamped by telephone calls from real estate brokers, which can

be very annoying to say the least.  So, I am writing to you instead and hope that you take a minute to read this letter and the enclosed brochure about us. I respect

anyone who attempts to sell their home without a real estate broker in order to save the commission, but please give some thought to the following factors:

 Are you home most of the time and able to be responsive to prospective buyers who want to see your home on a moment’s notice?Are you familiar with the recent selling prices of comparable homes and have actually seen your competition?Do you know how to target buyers through effective advertisements and persuasive marketing materials? Are you able to be emotionally detached and sensitive to buyers’ wants and needs when showing your own home? Do you have experience with showcasing your home so that you can maximize its appeal to today’s buyers?Are you familiar with the paperwork required to write a contract and process the transaction through closing?Do you know whether certain disclosures apply to your property and do you have the necessary forms on hand?Are you up-to-date on the myriad of mortgage options available so that you can structure the deal and ensure that your buyer is

qualified?Do you have the ability to feature your home on the internet in order to reach buyers from all over the world?Are you connected with international, national, and local multiple listing services and referral networks to attract qualified buyers to

your home?   If you answered “no” to most of these questions, I would appreciate the opportunity to meet with you and explain the advantages of

Illustrated Properties. Our innovative commission plans might surprise you and make hiring an experienced broker less expensive than you think.

 If you have any interest in talking to us, please give us a call. In the meantime, we wish you the best of luck in marketing your home!

Sincerely,  

Example Letter to ExpiredsDear  Our records show that your listing has expired. Many sellers who haven't sold their home

during the listing period are unhappy and we understand how you might feel. As you may know, marketing your home takes much more than putting a sign in the front yard

and listing your home in the Multiple Listing Service. In a nutshell, it takes energy, experience, knowledge, focus, and most importantly, diligence!

 I would appreciate the opportunity to meet with you and explain the advantages of listing with

Illustrated Properties. As an independent broker, we don’t charge you extra “processing” fees over and above the commission as do many of the franchised “big” companies, and our market share in your community illustrates just why we are so successful.

 Please call me to set up an appointment to discuss how we can market your home for you.  Sincerely,  

Homework AssignmentPART I

Gather a few publications that advertise real estate. These can be local “homes” throw-aways, real estate magazines, glossy local magazines, etc. You’ll find them in the office, at grocery stores and at corner newspaper stands.

Look at each real estate ad and determine what you like and don’t like about it. Cut out the ones that catch your eye and draw you into the ad – both good and bad. Write a short description next to each ad as to why it caught your attention. Do you think the ad is effective? Why?

Be prepared to “show & tell” 2 “good” ads and 2 “bad” ads in class with your reasons.

Based upon what you’ve learned from this lesson and by looking at what other agents are doing to be effective, write two “product ads” – one for classified and the other a quarter page magazine ad for the property listed below.

Choose which property characteristics you think are important to highlight based upon the type of publication you are placing the ad in and the cost of the ad. Read the info on www.ipre.net under Marketing/Classified or Magazine Ads for tips, costs, classifications, etc.

Assignment cont’d.

3 bedroom, 2½ bath Tequesta near Turtle Creek Country ClubNeeds a little TLCSome view of the water from the upstairs bathroomNice-sized yardLarge living room with fireplacePerfect for kidsBuilt in 1976Pool 2-car garage Owner will finance Owner anxious $449,900.HOA: $300 per monthLast Years Taxes: $5,560.00 Living Sq Ft. – 2,800Total Sq Ft. – 3,400

Assignment cont’d.

• PART II:Using Publisher, Top Producer, or other flyer program, create a flyer for the above property in color. Insert the IPRE logo and photos.

• PART III: “Branding yourself”Complete the Personal Brand Questionnaire at the end of this lesson. Do it yourself or get your close friends and family to help you. Really think about who you are, where you’ve been, what you’ve done, what and who you know, and what makes you different from everyone else.

Write a quarter page “image ad” for yourself using your new “personal brand” that you’ve created after completing the Personal Brand Questionnaire. You can draw it or do it on the computer – the important part is what you say. Will someone be compelled to call you after seeing your ad? Does your ad contribute to the image you are trying to project? Is your ad unique?

Assignment cont.PART IV Who Do You Know? 

Make a list of everyone you know, or who would recognize your name if you called them. Use the following list to jog your memory:

 Relatives*Friends of yours and your family*Neighbors, Teachers, Dry CleanersClassmates, present and formerChurch members and clergyDesigners, ArtistsArchitects, EngineersSports groups (ski, scuba, walking, tennis, golf, etc.), Fitness clubsPolitical groupsFormer boyfriends,/girlfriendsDoctors, dentists, other medical caretakersBabysittersHairdressers and other body care professionalsOwners of restaurants you frequentTrades peopleAttorneys, Insurance peopleAccountantsTown council members or other politiciansBankers and mortgage brokersVetsPolice and fire fighters  

Assignment cont’d.

Gather the addresses, phone numbers and email addresses (if you can) of all of these people.

Enter the names into a database. If you don’t have Top Producer, On-Line Agent or Act, use Excel, Microsoft Works or Outlook.

Run out clear address labels of your sphere of influence or learn how to Mail/Merge by importing your database into a Microsoft Word document. If you don’t know how to do this, find someone who can teach you (call the Board or local community college or high school for classes) or hire someone to do it for you. OR, stay in the dark ages and at least develop a manual system such as 3x5 cards or an address book so that you can hand address your mailings.

Mail everyone on your list an announcement that you are now doing business at Illustrated Properties Real Estate and ask them to refer business to you!

Bring your database list and a sample announcement to class – only 20 names are required to get you started

  

Assignment ChecklistBring to next class

1. 2 Good Ads, 2 Bad Ads

2. 1 Classified Ad

3. 1 Quarter Page Ad

4. 1 Flyer

5. 1 Image Ad

6. Labels from Sphere of Influence Database

7. Complete Branding Questionaire. Did you come up with a personal Brand?

8. Announcement