Sales talk by mike ferry
All Right Reserved |
Mike Ferry’s Sales Talk
TABLE OF CONTENTS
Sales Talk Procedures ………………………….……………………….………4
Objectives of Mike Ferry’s Sales Talk ………………………………………… 5
DAY ONE
Working with Buyers ……………..………………………….…………………. 8
Prospecting for Buyers …………………………………….……..…….……… 12
Qualifying for Home and Motivation ………………………….………………. 13
Developing Business From Past Clients and Centers of Influence ……… 15
Developing a Center of Influence …………………………..………..……… 18
The Center Of Influence – Or Past Client Script ……..……………..……… 19
Effective Lead Follow-Up …………………………………………………….. 22
The Mike Ferry Lead Follow-Up Script ………………………………………. 25
DAY TWO
Handling For Sale By Owners and Expired Listings ………………………. 30
The FSBO Script ……………………………………………………………… 33
Objection Handlers For Prospecting ………………………………………… 34
Expired Points ………………………………………………………………… 37
The Expired Script – Over The Phone ……………..………………………. 40
Handling Objections Scripts – From Sellers ……………………………….. 41
Mike’s Top Agent Survey …………………………………………………….. 42
The Just Listed Script ………………………………………………………… 45
The Just Sold Script ………………………………………………………….. 46
© 2011 The Mike Ferry Organization. All Right Reserved | 3
DAY THREE
The Listing Pre-Qualifying Script ……………………………………………. 50
The Listing Presentation … One-Minute Presentation ……………………. 51
The C.M.A. Presentation ………………………………………………………52
The Listing Plan Of Action ……………………………………………………. 60
The Listing Plan Of Action – Scripts ………………………………………… 62
Closing Techniques For The Listing Presentation ………………………… 65
Closes For The Pricing Presentation ……………………………………….. 67
DAY FOUR
Going After Price Reductions ………………………………………………… 70
Price Reduction Scripts……………………………………………………….. 72
Additional Price Reduction Scripts…………………………………………… 76
Learning Canned Presentations Or Scripts…………………………………. 77
Mindset………………………………………………………………………….. 83
Handling Objections……………………………………………………………. 87
Handling Objections Scripts……………………………………………………90
ADDENDUM – ADDITIONAL SCRIPTS
Expired Listing – Telephone………………………………………………….. 95
Prospecting – Open House…………………………………………………… 95
Prospecting – Sign Calls……………………………………………………… 96
Prospecting – Tenant Occupied Listings……………………………………. 96
Telephone – Ad Call / Sign Responses…………………………………………….. 97
Showing Property……………………………………………………………… 99
Presenting The Offer………………………………………………………… 101
4 | Mike Ferry’s Sales Talk
SALES TALK PROCEDURES
1. Be on time for every session
2. Wear your name badge at all times.
3. No cell phones, no PDAs, no text messaging while the class is in
session.
4. Please do not walk around during the role-play portions of the class.
5. No coffee will be served at the session.
6. Most importantly please follow the scripts.
© 2011 The Mike Ferry Organization. All Right Reserved | 5
THE OBJECTIVES OF THE MIKE FERRY’S SALES TALK
1. You will walk away from this class knowing the highly effective
buyer system developed for today’s market.
2. You will develop your mindset, beliefs and confidence to achieve
your system developed for today’s market.
3. To learn Mike’s price reduction scripts in detail.
4. How to use the FSBO and Expired Scripts, including objection
handlers and an exact system for working them.
5. How to become effective with lead follow-up using the 10 point
system.
6. How to sell 10% of your total Center of Influence and Past Client list
and we will give you the system to effectively grow and work these
groups.
6 | Mike Ferry’s Sales Talk
© 2011 The Mike Ferry Organization. All Right Reserved | 7
DAY ONE
DAY ONE
8 | Mike Ferry’s Sales Talk
WORKING WITH BUYERS
In the marketplace we have today, 50% of your total transactions and
income may come from buyers … this is very common. From 1995 to 2005
75% of a top Agent’s income came from listings sold … the change in the
market has caused us to change how we do business daily. As a result,
every Agent who wants to do 50+ transactions a year has to look very
carefully at a defined system of working with buyers. So let’s cover this first.
1. Mike has two basic rules when working with buyers.
a. ________________________ should be qualified by a lender
… no exceptions.
b. You should then _________________________________for
their motivation and the type of home they want to buy.
2. There are three primary types of buyers you should be working with
a. _________________________________________________
b. _________________________________________________
c. _________________________________________________
3. Only show property when ________________________________…
call to confirm they will be there before you take any further action.
4. Have all your prospects ___________________________________
don’t meet them at the home you are showing.
100% of all buyers
pre-qualify the prospect
Past clients who are motivated and have to buy
Sellers who are priced to sell and have the ability to buy
Highly qualified, highly motivated referrals
all the decision makers are present
meet you at the office
DAY ONE
© 2011 The Mike Ferry Organization. All Right Reserved | 9
5. _______________________________ … then ask them to buy
one. Showing them six to ten homes at a time only confuses them.
6. As you show a buyer more property over the course of days, weeks
… ___________________________________________________.
7. Establish for yourself ______________________you’ll have when
working with buyers.
a. Work only with Triple A buyers … sellers who have sold and
need to buy, Past Clients and Centers of Influence, along with
direct referrals.
b. Work only with buyers who have to buy now … high
motivation.
c. Have all buyers pre-qualified by your lender.
d. Work only with buyers who are realistic in their expectations.
e. Make sure all decision makers are present.
f. Work only with buyers who are receptive and cooperative.
g. Work only with buyers who will meet you at your office.
h. Work only with buyers who are looking for a home in the area
you service.
i. Strongly consider having a buyer broker agreement signed.
j. Never show more than 3 homes at a time.
“Take the time to examine every lead you have carefully … do they
meet your standards?”
Only show three homes at a time
their confidence in you diminishes
minimum standards
DAY ONE
10 | Mike Ferry’s Sales Talk
8. Strongly consider the following scripts when establishing your
relationship with the Buyer. Whether you’re doing this on the phone
or in person, we must establish not only how we’re going to work
with the Buyer but who’s going to be in charge and in control during
the process.
a. “Mr. and Mrs. __________, may I take you through the process
I use when assisting a buyer in purchasing a home?” If yes,
continue. If no, the interview is over.
b. “I’m going to ask my lender … (lender’s name) to call you as
soon as possible and discuss with you all the financing options
available. This should answer all of your questions, as well as
give you the confidence you’ll want in purchasing a home today
… Can I have them call you in the next several hours?” If yes,
continue. If no, move on.
c. “Once you and the lender have designed a financing agreement
for yourself. I’m going to ask you a lot of questions regarding
the type of home you want to buy … have you outlined in detail
the type of home you want to purchase?”
d. Once we’ve determined the type of home you want to purchase
I will select the three to four absolutely best homes in that
range for you to look at … I don’t want to confuse you by
showing you a lot of homes … do you understand?” If yes,
continue.
DAY ONE
© 2011 The Mike Ferry Organization. All Right Reserved | 11
e. “Once we have looked at these properties, I will ask you to
select one and write an offer to purchase that property … Are
you prepared to write an offer if we find the right property?”
f. “Once we’ve written an offer to the seller, I will negotiate that
contract for you. If accepted, we’ll work together each day
toward the closing.”
g. “Based on the process that I use in helping folks like you find a
home, do you still want me to proceed by having a lender call
you or would you prefer to work with another Agent?”
The key to showing properties to Buyers is to have a defined process to
follow and not to break or adjust that process once it’s been established.
Also, as a professional salesperson you must take control and be in
charge of showing the homes themselves. If the Buyer gains control of the
showing process, not only are you reducing your chances of making a sale
… but you’re also extending the length of the sales process from a matter
of days to a matter of weeks. You’re also reducing your chances of making
a sale and earning a commission. Follow this process exactly as it’s written.
DAY ONE
12 | Mike Ferry’s Sales Talk
PROSPECTING FOR BUYERS
Most Agents aren’t considering that they can’t prospect for buyers unless
they are holding an open house … when the truth is if you are actually
prospecting 2-3 hours a day for sellers … 30%-50% of the time the people
you talk to will have an interest in purchasing the home. The following are
methods for prospecting for buyers …
a. _________________________________ … they now have a level
of trust with you and they will help you find buyers if you are willing
to ask.
b. Sign calls, ad calls and __________________________________
c. ______________________________ that are currently for sale …
they have to move … they are used to living in a home … ask them
to buy the one they are living in.
d. Just listed/just sold phone calls or door knocking … _____________
____________________________________.
e. ____________________________________________________ …
If you are working with a buyer and not succeeding, refer them to
another Agent in your office and ask for a referral fee, then ask for
buyer referrals in return.
f. Ask existing buyers who are actively looking at property with you or
pendings for referrals ____________________________________.
Past Clients and Center of Influence
800InfoHomeLine call capture numbers
Tenants who occupy homes
we have a hot
buyer for your area
Buyer referrals from other agents
from their friends and family
DAY ONE
© 2011 The Mike Ferry Organization. All Right Reserved | 13
g. Relocation business through your company.
h. _____________________________________________________.
i. ___________________________ … it’s hard for me to say this, but
if you are really serious about finding a buyer and you are willing to
hold an open house with that purpose in mind … and you are willing
to ask qualifying questions to every person who walks through that
door, use this source.
j. _____________________________________________________.
k. Social groups/charities/communities functions_________________
______________________________.
l. Ask vendors and affiliates for referrals.
QUALIFYING FOR HOME AND MOTIVATION
“Thanks again for coming to my office … I am excited about helping you
folks find a home. I would like to take a few minutes and ask you about the
home you would like to purchase and your home buying needs.”
a. Are there any other areas that you are interested in other than this
area?
b. What’s important to you about this area?
c. How long have you folks been looking for a home?
Home buyer seminars
Open houses
Internet and web leads
as referral sources
DAY ONE
14 | Mike Ferry’s Sales Talk
d. Have you seen any homes that you like … can you describe them
for me?
e. How soon would you like to move in?
f. Do you need to sell an existing home to buy the next one?
g. Are you working with other Real Estate Agents?
h. What price range are you considering?
i. How many bedrooms and baths do you want in your new home?
j. What other features are you looking for in your new home?
k. I am sure you and your lender have determined a down payment …
how much do you want to put down?
l. What is the maximum monthly payment you would like to have?
m. Are there any other people who need to see the home before you
make a decision to buy?
n. How many homes will you need to see before you make a decision
to buy?
o. If we see the right home today, are you ready to make a decision
today? (If not, why not?)
p. If we don’t find the right home today, how quickly will I be able to
reach you if I find the right home?
q. Are there any other questions or concerns you have about buying a
home?
DAY ONE
© 2011 The Mike Ferry Organization. All Right Reserved | 15
DEVELOPING BUSINESS FROM PAST CLIENTS
AND CENTERS OF INFLUENCE
Based upon the research that I’ve done for years with top producing Agents
… 30% to 40% of a top producer’s income wil come from working past
clients and centers of influence. If you’re doing more than 25 transactions
per year and few, if any of your deals, are coming from this source, you’re
working harder than you need to. If you’re doing 25 to 50 transactions per
year and a majority of your business is coming from this prospecting
source, it means you’re not prospecting efficiently or at all. Or it means
you’ve allowed complacency to take control of your business. Let’s look at
the following points that we can use to build this great source of business.
1. Remember _________________________ … 10% of them will give
you business if you ask for it … we have to ask for it.
2. ___________________________the people in your file that you
haven’t spoken to in some time. Re-establish the relationship or
take them out of your file. Remember, they have not been waiting
for your call.
3. Treat your past clients and centers of influence with
_______________ … they are a great asset which will allow your
business to grow.
the 10% rule
Don’t hesitate to call
a lot of respect
DAY ONE
16 | Mike Ferry’s Sales Talk
4. Remember they’re not ____________________________ … so
don’t be disappointed if they don’t respond as quickly as you want.
5. To build your center of influence list, _____________________ that
you do business with for business in return.
6. Determine while you’re at this workshop the ____________
______________________________ in this prospect file and set a
realistic goal to add “X” number of names per year to this file.
7. To build a stronger relationship with them and ____________
_______________________________,
a. Call and speak to all of these people at least four times a year.
b. Send them a simple note or postcard four times a year … “Just
wanted to remind you I’m still in real estate …”
8. Determine as quickly as possible the names of those individuals
who you know will give you a good ______________________.
Then set up a plan to talk to them six to eight times a year.
9. When talking to past clients and centers of influence always make
sure you’re speaking with a high level of _____________________.
waiting for your call
ask everybody
total numbers of names
to get business from them
referral every year
energy and enthusiasm
DAY ONE
© 2011 The Mike Ferry Organization. All Right Reserved | 17
10. When talking to these people work to bring ____________
________________ … plan your calls effectively, for example:
a. Determine themes for your call based on what’s happening in
the marketplace.
b. By bringing value to each call, it makes each call easier, more
fun and valuable to the client.
11. If you’re not going to call them _______________________ and ask
them for referrals … remove them from your list.
12. ___________________________________________, always
adopt the client on the other side of the deal … call them the day
after the closing to make sure everything is okay.
The key to this prospecting technique is to organize your list as quickly as
possible and then start working on building it by using the list of words on
the next page. This page has several hundred words, we want you to
identify who you know in each category so you can build your list faster.
Let’s turn and review that list now.
value
to each call
four times a year
To build your business
DAY ONE
18 | Mike Ferry’s Sales Talk
DEVELOPING A CENTER OF INFLUENCE
Use the following list to “job” your memory for additional names of contacts.
Ask yourself if you know anyone who is at all involved in any of the
following. Write their name next to each, if none, cross them out.
Accountant
Advertising
Aerobics
Airline
Alarm Systems
Animal Health/Vet
Apartments
Appraisers
Architects
Art
Athletics
Attorney
Automobile
Baby-sitters
Banking
Barber
Bartender
Baseball
Beauty Salon
Beeper
Bible School
Boats
Bonds/Stocks
Bookkeeping
Bowling Leagues
Brokers
Builders
Cable TV
Camping
Carpet Cleaning
Cellular Phones
CPA’s
Chiropractors
Colleges
Computer
Construction
Consulting
Contractors
Cosmetics
Country Clubs
Credit Union
Day Care
Delivery
Dentists
Dermatologists
Doctors
Dry Cleaners
Dry Wall
Electrician
Engineering
Firemen
Fishermen
Florist
Furniture
Gardens
Golfing
Groceries
Gymnastics
Hair Care
Handyman
Hardware
Health Club
Health Insurance
Horses
Hospitals
Hotels
Hunting
Insurance
Investments
Jewelry
Lawn Care
Libraries
Limousines
Loans
Management
Manufacturing
Massage
Therapists
Mechanics
Medical
Mortgages
Motels
Museums
Music
Mutual Funds
Newspapers
Nurses
Nutrition
Office Furniture
Office Machines
Office Supplies
Optometrists
Orthodontist
Pediatricians
Pedicures
Pensions
Pest Control
Pets
Pharmacies
Phones
Physician
Plumbing
Podiatrist
Pools
Preschools
Printing
Property Mgmt.
Rental Agencies
Resorts
Restaurants
Roofing
School
Secretaries
Shoe Repair
Siding
Signs
Skating
Skiing
Skydiving
Soccer
Softball
Software
Spas
Sporting Goods
Surgeons
Tailors
Teachers
Telecommunications
Tennis
Theaters
Title Companies
Training
Typesetting
Universities
Video
Waste/Garbage
Weddings
Wine
DAY ONE
© 2011 The Mike Ferry Organization. All Right Reserved | 19
THE CENTER OF INFLUENCE – OR PAST CLIENT SCRIPT
(You are calling people you know!)
1. Hi, this is _____________. This is a business call … do you have a
minute for me?
2. Who do you know … that would like to buy or sell Real Estate in the
next 7-10 days?
3. Can you think of anyone … in your (church group, family,
neighborhood or office) … that may need my services at this time?
(X) Great!
4. Would you mind if I gave them a call?
5. By the way … when do you plan on moving? (X) Terrific!
NOTES
20 | Mike Ferry’s Sales Talk
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NOTES
© 2011 The Mike Ferry Organization. All Right Reserved | 21
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DAY ONE
22 | Mike Ferry’s Sales Talk
EFFECTIVE LEAD FOLLOW-UP
Too many Agents are losing business every day because of their inability
or their simple lack of understanding on how to do effective lead follow-up.
“More business is lost from a lack of lead follow-up than from any other
phase of the sales process.” What we’re going to look at today are a series
of simple thoughts regarding lead follow-up, then we’ll identify a very simple
system for lead follow-up, and then a simple script to use so you can turn
leads into appointments and appointments into contracts … Let’s begin.
1. We must remember that our job as an Agent is to…
a. _______________________________________________.
b. _______________________________________________.
c. _______________________________________________.
Which of these three do you do best? And which do you have to work on?
2. We cannot let the following thought into our head … “Through long
term follow-up I can take a non-motivated person and help them
become motivated.” … This is your ego speaking and a
___________________________________________________.
Generate leads daily
Convert those leads to appointment daily
Go on appointments daily
poor business decision
DAY ONE
© 2011 The Mike Ferry Organization. All Right Reserved | 23
3. We must remember that lead follow-up is very much ______
___________________ every day … it’s a numbers game … we
will go through a lot of leads to find the ones that will give us an
appointment.
4. Since all Agents have all _________________________ if we think
by holding on to them for a long period of time improves our
chances, then we’re making a serious production and financial
mistake. Call them, ask for an appointment and throw them away.
5. The primary purpose of our lead follow-up is to re-sell them on
giving us an appointment _________________________________.
6. Keep your lead cards _________________________ and keep
calling them until you get an appointment because other people do
have your leads.
7. Leads have no actual value … appointments and contracts have
value. So the objective is to turn them into appointments ASAP or
throw them away.
8. ______________ Agents have in doing good lead follow-up is asking
for an individual’s motivation … because if they are not motivated
then we have to deal with the fact that we don’t have a real lead.
like prospecting
the same leads
not just keep building rapport
with you all the time
One of the fears
DAY ONE
24 | Mike Ferry’s Sales Talk
9. Most Agents have too many leads and the following are the
disadvantages of having so many leads:
a. The bad leads ______________________________ from you.
b. If most of our leads are not great ones the urgency for lead
follow-up ________________________________________.
c. It’s a huge waste of time to be tracking and calling people
__________________________ who are not going to be
moving in the near future.
d. Remember you will always get _________________________
___________________ … either an appointment or a future
lead. Otherwise, you’re wasting your time.
10. The Mike Ferry Lead follow-up system:
a. A large stack of 3 x 5 cards
b. Put the prospect’s name, address, phone number and the date
you acquired them on the card. Identify if they are a buyer or
seller prospect. Remember you only have so many days to
convert them or throw them away.
c. Call them as often as you can, understanding that you don’t
lose business from being too aggressive.
d. Keep calling them.
hide the great ones
is diminished
on a regular basis
what you’re looking for
DAY ONE
© 2011 The Mike Ferry Organization. All Right Reserved | 25
THE MIKE FERRY LEAD FOLLOW-UP SCRIPT
Hi, ______________ this is _______________ with _________________.
I’m calling with 2 questions…
1. Do you still want to buy/sell? ( ) Great!
2. When can we set an appointment?
NOTES
26 | Mike Ferry’s Sales Talk
© 2011 The Mike Ferry Organization. All Right Reserved | 29
DAY TWO
DAY TWO
30 | Mike Ferry’s Sales Talk
HANDLING FOR SALE BY OWNERS AND EXPIRED LISTINGS
It’s interesting how new Agents will call for sale by owners on a regular
basis … take a lot of listings and make a lot of sales. Then as time
progresses somebody either talks them out of this great prospecting source
or they talk themselves out of it. For sale by owners are a constant and
continuous source of business for anybody who wants to build a bigger and
stronger business. Don’t let this method of prospecting stop you from
building your business. Use the following points to get yourself better
prepared for using for sale by owners.
1. Don’t buy into their seemingly ______________________________
__________________. In most cases, it’s an _________________,
__________________________.
2. FSBOs will list with the first agent who can convince them that ____
_______________________________________.
3. Remember to focus on how can I ___________________________
__________, how can I ___________________________________
____________________ and how can I ______________________
____________________________________!
lack of motivation
objection
not a condition
there is value in paying a commission
be of service
assist them in accomplishing
their goal of selling get them more money
than selling themselves can
DAY TWO
© 2011 The Mike Ferry Organization. All Right Reserved | 31
4. What are some of the problems that they have?
a. __________________________________________________
b. Bargain hunters
c. __________________________________________________
d. __________________________________________________
e. __________________________________________________
How much money are these problems costing the owner?
5. You have to develop the mindset that they are making a huge
mistake if they don’t list with you. ___________________________
_____________________________________________________?
6. Remember, they just want to ______________________________
___________________. That is what your close should focus on.
7. TWO APPROACHES w/ FSBOs
1. You can call them until they are ready.
2. __________________________________________________
Lack of exposure
Unqualified buyers
No negotiating skills
Legal liability
If you don’t think that they need
you, how will you ever be able to convince them that they do
sell their home and net the
most money
You can make them ready
DAY TWO
32 | Mike Ferry’s Sales Talk
8. Your only purpose for prospecting is setting appointments.
How often have you followed up on a lead and found out that they
had already listed with someone else? That happens for two
reasons:
1. You didn’t _________________________________________.
2. You didn’t _________________________________________
__________________________________________________.
9. Motivated sellers want an aggressive agent … _________________
______________________________________________________
___________________. Give them what they want.
10. On every call that you make one of two things will happen, _____
_________________________________________________, or
____________________________________. If you hang up
without an appointment, they were more confident about what they
are doing that you are about what you can do for them.
close enough on your first contact
follow up soon enough or were not
aggressive enough when you did
charge, understands the business and tells the truth
one who takes
either you will convince them that they need your services
they will convince you that they don’t
DAY TWO
© 2011 The Mike Ferry Organization. All Right Reserved | 33
FSBO SCRIPT
Hi, this is ____________ with ________, and I’m calling about the home for
sale … is this the owner?
I’m doing a survey of all the FSBO’s in the area and I was wondering …
1. If you sold this home … where would you go next? (LA) That’s exciting!
2. How soon do you have to be there? (3 months) Fantastic!
3. How would you rate your motivation to move … on a scale of 1 to 10? (5)
Good for you!
4. What methods are you using for marketing your home? (Sign and ads) That’s
great!
5. How did you determine your sales price? (Other agents) Fantastic!
6. Are you prepared to adjust your price down when working with a buyer? (Within
reason) Terrific!
7. Why did you decide to sell yourself … rather than list with a Real Estate Agent?
(Save the commission) Great!
8. If you were to list … which agent would you list with? (None in mind) Fantastic!
9. How did you happen to pick that agent? ( ) Good for you!
10. If you were to list … what would you expect the agent to do … to get your home
sold? ( ) That’s great!
11. How much time will you take … before you consider … interviewing the right
agent for the job of selling your home? ( ) Excellent!
12. What has to happen … before you will consider … hiring a powerful agent …
like myself … for the job of selling your home? ( ) Perfect!
13. Are you familiar with the techniques I use to sell homes?
( ) You’re kidding!
14. What would be the best time to show you … __________ or _________?
DAY TWO
34 | Mike Ferry’s Sales Talk
OBJECTION HANDLERS FOR PROSPECTING:
FSBO – Bring me a buyer and I’ll pay you 3%.
1. So what we’re really talking about is you want to save the other 3%
that it would cost for you to hire me, right? And if you knew that
having me represent you would actually put more money in your
pocket and more than make up for that 3% difference … you would
probably go ahead and hire me, wouldn’t you? What would be the
best time for us to meet _____ or _____?
2. I’m not going to insult your intelligence and tell you that I have a
buyer for your home because the truth is neither me nor any of the
agents that you’ve talked to have a buyer for your home, otherwise
it would already be sold, wouldn’t it? The reason why I’m calling
you is because I know exactly what to do to find a buyer for your
home. All I need is 15 min, what would be the best time ________
or _____?
FSBO – I don’t need an Agent, I can sell it myself.
1. Absolutely, it sounds like you really know what you’re doing and my
question is … How much more money could you net if you hired me
versus if you sold it yourself? And if it did turn out that I could
actually net you more money, wouldn’t it be worth just 15 minutes of
your time to make sure that you don’t leave any money on the
table? What would be the best time for us to meet _____ or _____?
2. Let me ask you, what’s more important to you … to sell it on your
own or to net the most money? And if it did turn out that I could
actually net you more money net, net bottom line, after my
commission is paid, wouldn’t you at least want to know about that
so you can be sure that you’re doing what’s best for yourself
financially? What would be the best time _____ or _____?
NOTES
© 2011 The Mike Ferry Organization. All Right Reserved | 35
____________________________________________________________
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DAY TWO
© 2011 The Mike Ferry Organization. All Right Reserved | 37
EXPIRED POINTS
As we master calling past clients and centers of influence … then we
master listing for sale by owners … the natural progression of our business
is to start working on expired listings. In today’s market this is an
enormous source of business … one of the largest sources available to us
today.
Agents always object to calling on these great prospects because the
prospect has obviously already had a difficult tough experience with the
market and in most cases, an Agent.
Our job is to go in, be strong and ask all the qualifying questions by using
the expired script. Make sure they’re qualified to sell, set an appointment
and make a strong listing presentation. There is not a single Agent in this
room today who cannot get at least three to four good listings a month from
the expired source.
Don’t allow yourself to miss this opportunity.
DAY TWO
38 | Mike Ferry’s Sales Talk
1. The expired listing is to many salespeople ____________________
____________. They are difficult because they just had a bad
experience and when we understand that, the process is easier.
2. The major portion of all Real Estate Agents do not call on expired
listings because of _____________________________________.
3. As with for sale by owners, new licensees will call on expireds more
than the experienced veterans … ___________________________
_________________________________________.
4. The primary reason a property expires is price, although, the seller
will always tell you it’s _________________________________.
5. The majority of expired listings will tell you they’re not going to sell
their property at this time because _________________________
____________________________… in reality, they will list with an
Agent who shows them what has to be done.
6. The key to the expired listing is ___________________________.
Urgency in yourself to talk to them and see them and an urgency in
them to make a decision.
the most difficult one
to get
the rejection involved
create the mindset
that you’re a new licensee
because of the Agent
they’re frustrated with the
process
creating urgency
DAY TWO
© 2011 The Mike Ferry Organization. All Right Reserved | 39
7. Since most expireds will re-list __________________________ …
make your first contact first thing in the morning and if you’re not
able to reach them go to their door in the afternoon.
8. Since they’ve had a bad experience ________________________
________________________________. The more confidence you
display, the better your chance of getting the listing.
9. Don’t set an appointment for tomorrow, ______________________
_______________________, since there are other Agents calling
them also … do it now.
10. Remember high energy, a lot of intensity and constant follow-up are
critical. __________________________________, they will list with
somebody else.
within 24 – 48 hours
the confidence you show in
yourself is critical
If you’re not confident
when you can go
see them today
DAY TWO
40 | Mike Ferry’s Sales Talk
EXPIRED SCRIPT OVER THE PHONE
Hi, I’m looking for ______ … Hi _____ … my name is _____ with _____ …
I’m sure you’ve figured out that your home came up on our computer as an
expired listing … and I was calling to see …
1. When do you plan on interviewing the right agent for the job of
selling your home? (Never) Terrific / Really!
2. If you sold this home … where would you go next? (LA) That’s
exciting!
3. How soon do you have to be there? (Already) Ouch!
4. _____ … what do you think stopped your home from selling? (The
agent) Really!
5. How did you happen to pick the last agent you listed with? (Referral)
Great!
6. What did that agent do … that you liked best? (Nothing) Ouch!
7. What do you feel they should have done? (Sold my house) Really!
8. What will you expect from the next agent you choose? (Sell my
house) Terrific!
9. Have you already chosen an agent to work with? (No) Wonderful!
10. I would like to apply for the job of selling your home … are you
familiar with the techniques I use to sell homes? (No) You’re
kidding!
11. What would be the best time to show you … Monday or Tuesday at
_______?
DAY TWO
© 2011 The Mike Ferry Organization. All Right Reserved | 41
HANDLING EXPIRED OBJECTIONS
Expired – I’m not selling anymore.
1. If you had received an acceptable offer last week … would you have
sold it? If yes, close for an appointment. If no, use next line:
2. If you were absolutely sure that your home would sell, would you
put it back on the market?
Expired – Bad market.
1. I’m not going to buy into the idea that your home didn’t sell because
the market is slow. Instead, I’d like to stop by, take a look at your
home and figure out why it didn’t sell and also what it will take to get
it sold this time … then you can decide if we should be working
together. What would be the best time ____________ or
___________?
2. You’re right, the market is slow compared to 3 years ago and did
you know that homes were still selling in our market last month? It
would have been great if yours was one of them, wouldn’t it? Let me
stop by and show you what I’m going to do to make sure that your
home is one of the ones that will sell this month. What would be the
best time _______ or ________?
DAY TWO
42 | Mike Ferry’s Sales Talk
MIKE’S TOP AGENT SURVEY
1. How many transactions did you close in …
a. The calendar year 2008 ____________
b. The calendar year 2009 ____________
c. The calendar year 2010 ____________
2. What are you projecting for closed transactions for the year 2011?__________
3. What will this earn you in terms of gross income? _______________________
4. Let’s break down where your business comes from …
a. Center of influence ______________
b. Past Clients _______________
c. Expired Business ______________
d. For Sale by Owner Business _____________
e. 800InfoHomeLine or Ad Calls _____________
f. Just Listed / Just Sold or Cold Calls ___________
g. Other _____________
5. How many hours of prospecting do you do in an average week? ____________
6. How many contacts do you make in an average week? ________
7. How many hours do you work in an average week?____________
8. How many listing presentations do you go on in an average month? _________
9. How many listings do you take in an average month? _________________
10. How many listings do you have in inventory at this time? _________
11. What percentages of your listings sell? ______________
86
Avg. $860K – $1.6 mill.
20%
17%
19%
16%
8%
9%
9%
12 hrs (2.5/day)
109
60
15
46
56%
12 (they close 80%)
DAY TWO
© 2011 The Mike Ferry Organization. All Right Reserved | 43
12. How many years have you been attending and participating in MFO training?
___________
13. How many years have you been involved in One on One Coaching? ________
14. How many hours a week do you spend in role-play and practice? ___________
Ask someone who else in their office besides them practice and role-play?
15. What do you do to keep your skills sharp?
1. They know and study market statistics.
2. They review their number’s weekly.
3. They’re all involved in a mastermind group.
4. They role play and practice 4 day per week.
5. They attend an average 3-4 events per year.
6. 3-4 strong accountability partners.
7. They review their goals daily.
8. Affirmation daily.
9. All in One-on-On Coaching.
16. What changes have you made to your business to adapt to this market?
1. Start every day at zero.
2. They focus 100% on their schedule.
3. Prospecting evenings and weekends.
4. More time with buyers.
5. Adjust listing prices down sooner.
6. Practice price reduction scripts daily.
7. They give listings back faster.
8. Increase their inventory.
9. They’ve refused to let market condition control them.
17. How do you maintain a strong mindset?
1. Set higher standards.
2. Focus on positive only.
3. Daily accountability calls.
4. They write out their goals daily to get themselves excited.
5. They avoid toxic people.
6. They don’t watch the news or read the newspaper.
7. They fill their mind daily with strong, positive inspiring thoughts.
11 yrs
8 ½ yrs
4 ½ hrs/wk
DAY TWO
44 | Mike Ferry’s Sales Talk
Two of the best methods of generating leads outside of past clients …
centers of influence … for sale by owner … and expireds are working
around your listings and your sales. It has been proven for years that every
time a property comes on the market, it’s always a matter of days before
other properties in the same neighborhood come on the market because of
the sign in front of somebody’s house. A home that is for sale triggers
more homes which will be sold. In addition, what a great opportunity to
spread the word in a neighborhood on who you are and what you do, than
by talking on the phone or going to the doors around a property that you’ve
recently listed. You have to remember that listings bring more listings.
In addition when one of your listings sells, whether it be you selling it
yourself or somebody else selling it for you, it’s again a great opportunity to
go right into that neighborhood either by phone or in person and have a
chance to brag about what you’ve accomplished for one of their neighbors.
Just listed and just sold contacts are a good example of “playing the
numbers game” as well as being a very solid method of expanding your
influence in an area in a very quick manner. Don’t think for a minute that
these are a method of prospecting that you should not be involved in.
These work.
DAY TWO
© 2011 The Mike Ferry Organization. All Right Reserved | 45
JUST LISTED SCRIPT
Hi, this is _________ with ___________ … I (my company) just listed a
home for sale over on _____________ … it has _____ bedrooms and
_______ baths … and it’s listed at $ _____________ …
And … I was wondering … who do you know that would like to move into
your area?
(No one) Fantastic!
I appreciate you taking the time to think about it … tell me …
1. When do you plan on moving? (Never) Terrific!
2. How long have you lived at this address? (10 yrs) Great!
3. Where did you move from? (LA) Good for you!
4. How did you happen to pick this area? (Job transfer) Excellent!
5. If you were to move … where would you go next? (Back to LA)
That’s Exciting!
6. And when would that be? (3 months) Fantastic!
Only go forward if they say 3 months or less!
7. Obviously … you realize it could take 1 to 3 months in this market to
get a home sold … did you know that? (No) Terrific!
8. So … my question is … do you have to be sold in 1 month … or do
you want to start selling at that time? (Sold) Wonderful!
9. Fortunately … to get you one step closer to (LA) … all we need to
do now … is simply set an appointment … so I can help you get
what you want … in the time you want … won’t that be great? ( )
Fantastic!
10. Which would be better for you … Monday or Tuesday at 4pm?
DAY TWO
46 | Mike Ferry’s Sales Talk
JUST SOLD SCRIPT
Hi, this is ________ with ________ … I (my company) recently sold a
home in your area over on _________________ … it has _____ bedrooms
and _____ baths … and it sold for $________________ …
We know when someone sells a home … usually two more sell right
away … So I was wondering …
1. When do you plan on moving? (Never) Terrific!
2. How long have you lived at this address? (10 yrs) Great!
3. Where did you move from (LA) Good For You!
4. How did you happen to pick this area? (Job transfer) Excellent!
5. If you were to move … where would you go next? (Back to LA)
That’s Exciting!
6. And when would that be? (3 months) Fantastic!
Only go forward if they say 3 months or less!
7. Obviously … you realize it could take 1 to 3 months in this market to
get a home sold … did you know that? (No) Terrific!
8. So … my question is … do you have to be sold in 1 month … or do
you want to start selling at that time? (Sold) Wonderful!
9. Fortunately … to get you one step closer to (LA) … all we need to
do now … is simply set an appointment … so I can help you get
what you want … in the time you want … won’t that be great? ( )
Fantastic!
10. Which would be better for you … Monday or Tuesday at 4pm?
© 2011 The Mike Ferry Organization. All Right Reserved | 47
DAY THREE
DAY THREE
48 | Mike Ferry’s Sales Talk
Early in his career Mike put together what he called “The Listing Process”
and used it every day to build his own successful real estate business. At
the same time, he was sharing it with other Agents in his company, who
used the same system and went on to build very productive careers using
this process.
For the last 30+ years Mike has taught hundreds of thousands of Agents
the MFO listing process and as a result, hundreds of thousands of Agents
have succeeded at a very high level using these thoughts. We want to go
through the entire listing process today and teach you exactly what you
have to do to become an effective and productive Agent. Mike would like
each of you to follow this process verbatim (keep your ego out of the way
and don’t change it). It will help each of you secure a higher percentage of
the listing presentations you go on. Remember if we can increase our
closing percentage, we’re earning additional income with no more time
spent. Here is the process.
Step 1 … Pre-qualify 100% of all prospects, 100% of the time … no
exceptions.
Step 2 … Mail or deliver a non-ego pre-listing package … which should
include the following:
a. A short list of references.
b. A completed CMA with suggested price.
c. A completed net sheet based on that price.
d. A copy of your marketing or plan of action.
e. All disclosure statements.
f. A contract that is ready to be signed.
g. Market statistics
DAY THREE
© 2011 The Mike Ferry Organization. All Right Reserved | 49
Step 3 … Call back and confirm they’ve reviewed the package and are
prepared for your appointment.
Step 4 … Show up physically, emotionally and mentally … be 15 minutes
early.
Step 5 … Follow the scripts verbatim … either using trigger cards or using
the script pages from this workbook.
DAY THREE
50 | Mike Ferry’s Sales Talk
THE LISTING PRE-QUALIFYING SCRIPT
Before I come out…there are a couple of questions I need to ask you…OK?
1. If what I say makes sense … and you feel comfortable and
confident that I can … sell your home … are you planning to list
your home with me when I come out on ____________?
2. Are you planning to interview more than one agent for the job of
selling your home?
3. Tell me again … where are you moving to?
4. How soon do you have to be there? (3 mos.) Great!
5. When I see you … how much do you want to list your home for? As
a professional Real Estate agent, I study homes and prices every
day … therefore I assume you’ll list with me … at a price that will
cause your home to sell … correct?
So … what price won’t you go below?
6. How much do you owe on the property? ($100,000) Excellent!
7. Have you ever thought about selling it yourself? (No) Terrific! (Yes)
Interesting.
8. Will you help finance the home for the buyer … or do you want your
cash out? That’s great!
9. Would you please describe your home for me?
10. I’ll be sending over a package of information … will you take a few
moments and review it? Thank you.
11. Do you have questions before I arrive? (No) Great!
12. So you know … our meeting should only take between five to
twenty-five minutes … is that ok? I look forward to seeing you on
_____ at _____.
DAY THREE
© 2011 The Mike Ferry Organization. All Right Reserved | 51
THE LISTING PRESENTATION … THE ONE-MINUTE PRESENTATION
Hi … thanks again for having me over … I’m excited about getting your
home on the market … and getting it sold …
Do you mind if I take a quick look at your home?
I wrote down three … real important questions for you …
1. Do you absolutely have to sell your home? ( ) Fantastic!
2. Will you price your home to sell … or do you want to keep it on the
market for a long period of time? ( ) Great!
3. Do you … want me … to handle the sale for you? ( ) Excellent!
All we need to do now is simply … sign the contract … so I can help you
get what you want … in the time you want … won’t that be great?
Only close for the signature at the end of the One-Minute Presentation
when you have qualified and know the following:
1. They know you.
2. They want to hire you.
3. They will list at your price.
DAY THREE
52 | Mike Ferry’s Sales Talk
THE C.M.A. PRESENTATION
4. (Name) at the end of my presentation tonight … one … of three
things will happen …
1 … You’ll have the opportunity to … list your home with me … or …
2 … You’ll decide not to … list your home with me …or
3 … I’ll decide not to take your listing … any one is fine …
5. Let’s quickly take a moment and review the questions I asked you
over the phone …
A) You said you were moving to _______ right?
B) You said you were moving because ________?
C) You said you had to be there by ________ … correct?
D) You would like to price your home at _______ … right?
E) And … you said you owe _______ … is that right?
F) Now … you weren’t planning on selling it yourself, were you?
Terrific!
G) You did (did not) want your money out … correct? Wonderful!
6. Now … there are only two issues we have to look at tonight …
number one … your motivation to … sell this home … and …
number two … the price we set on your home …
DAY THREE
© 2011 The Mike Ferry Organization. All Right Reserved | 53
7. I’ve prepared what we call a Comparative Market Analysis … there
are two parts to this research … Part one … we call … fantasyland
… what homeowners list home for … part two … we call … reality
… what Real Estate agents list and sell homes for … We’re going to
have to decide tonight … where you’re going to spend your time …
8. The purpose of the Comparative Market Analysis … is to determine
the value of your home … in the eyes of a buyer … Do you know
how buyers determine value?
9. Buyers determine value by comparison shopping. They look at the
price of your home based on its features and benefits, and compare
it with the features and benefits of similar homes that have sold
recently or are currently on the market. Does that makes sense?
10. For example … if you were going to purchase a new car … and one
dealership had a car for $20,000 … and another dealership had the
same car for $20,000 … but … it had a CD player and fancy rims …
Which car would be more valuable? … Why?
11. What if the first dealership … put the car with NO CD player and
rims … on sale for $15,000 … Which would be a better value then?
… Why?
12. So … you can see … that if you want to increase value:
A) Lower the price … or …
B) Have more features and benefits … for the same price … Does
that make sense? Good!
DAY THREE
54 | Mike Ferry’s Sales Talk
13. So … unless you are planning to add more features and benefits to
your home … Are you? … (No…) price is the only issue … Can I
show you what I mean?
A) This home is just like yours …
B) How many bedrooms?
C) How many baths?
D) How many square feet?
E) Do you know this neighborhood?
F) Have you seen this house?
(Based on the features and benefits of the home tell them)
1. Your house is better
2. This house is a little better than yours
3. This house is very similar to yours (Justify why you said
that by comparing their features and benefits)
G) What price are they asking?
H) Look how long it’s been on the market?
I) You need to be in _____ by _____ … right?
14. What price do you feel we should use … to create value in the eyes
of the buyer … and get someone to decide to buy your home versus
the competition?
15. Now that you’ve seen these prices … I’m going to recommend a
price of $_____ … will you (name) … list your home with me … for
that price tonight?
16. All we need to do now is simply … sign the contract … so I can help
you get what you want … in the time you want … won’t that be great?
DAY THREE
© 2011 The Mike Ferry Organization. All Right Reserved | 55
17. ______ what price do you absolutely have to have? ( ) Ouch!
18. Based on that … there are a couple of real important questions I
need to ask you …
19. Specifically … why do you feel your home is worth $_____ more
than your neighbor’s?
20. (Name) in today’s market place … that means you’ve simply
brought your home up to selling standard … right?
21. All homes need _______ … right?
22. Let me ask you a question … If a buyer wants to buy your home …
but … they plan to get rid of _______ … the moment they buy your
home … how much is it worth then? Exactly!
23. Did you add that to your home for the next buyer … or … for your
own enjoyment?
24. If you were purchasing a home … and two similar homes were for
sale … one for _______ and one for _______ … which would you
buy?
25. Wouldn’t you want to use the extra ______ … to do what you
wanted to the home?
26. Don’t you think most buyers would feel just like you? Of course
they would.
27. That’s why … I’m going to recommend … a price of $______ …
based on what we know … do you want to … list your home … for
that price tonight?
All we need to do now is simply … sign the contract … so I can help you
get what you want … in the time you want … won’t that be great?
NOTES
56 | Mike Ferry’s Sales Talk
____________________________________________________________
____________________________________________________________
DAY THREE
60 | Mike Ferry’s Sales Talk
THE LISTING PLAN OF ACTION
My Objectives Are the Following:
1. To assist in getting as many qualified buyers as possible into your
home until it is sold.
2. To communicate to you weekly the results of our activities
3. To assist you in negotiating the highest dollar value … between you
and the buyer.
The Following Are the Steps I Take to Get a Home Sold … the
“Pro-Active Approach”:
1. Submit your home to our local Multiple Listing Service.
2. Price your home competitively … to open the market vs. narrowing
the market.
3. Promote your home at the company sales meeting.
4. Develop a list of features of your home for the Brokers to use with
their potential buyers.
5. Fax a features sheet to the top _____ agents in the marketplace for
their potential buyers.
6. Suggest and advise as to any changes you may want to make in
your property to make it more saleable.
7. Constantly update you as to any changes in the marketplace.
DAY THREE
© 2011 The Mike Ferry Organization. All Right Reserved | 61
8. Prospect _____ hours per day and talk to _____ people per day
looking for potential buyers.
9. Contact over the next seven days … my buyer leads, center of
influence and past clients for their referrals and prospective buyers.
10. Add additional exposure through a professional sign and lock-box.
11. Will use 800InfoHomeLine to generate buyer leads for your home.
12. Keep you aware of the various methods of financing that a buyer
might want to use.
13. When possible have the cooperating Brokers in the area tour your
home.
14. Follow-up on the salespeople who have shown your home … for
their feedback and response.
15. Assist you in arranging interim financing … if necessary.
16. Represent you on all offer presentations … to assure you in
negotiating the best possible price and terms.
17. Handle all the follow-up upon a contract being accepted … all
mortgage, title and other closing procedures.
18. Deliver your check at closing.
DAY THREE
62 | Mike Ferry’s Sales Talk
THE LISTING PLAN OF ACTION … SCRIPTS
“Mr. and Mrs. Seller … there are two ways to get a home sold once it is
listed. They are … wait for a buyer to show up, or wait for another agent to
bring a buyer to it. Or … I can spend my time trying to find a buyer or
promote other agents to bring one to us. I’ve chosen the second method
… okay?
“As I’ve written, my objectives are the following …” (Read the 3 objectives
… or ask them if they had a chance to read them from your pre-listing
package.)
“Okay, here are the steps I take to get a home sold!”
Read #1 … “Are you familiar with how our MLS works here locally?” Yes or
no … “As you know there are ____ members of our local Board … A small
percentage may have a prospect interested in your home at this time …
you do want me to submit your home to MLS don’t you?
Read #2 … “As you can see from our discussion price is always a major
factor in selling a home, would you agree that we have to open our market
as wide as possible?”
Read #3 … “Our office has a weekly meeting of the agents to promote our
listings to each other … is there anything in particular you would like me to
tell them?”
DAY THREE
© 2011 The Mike Ferry Organization. All Right Reserved | 63
Read #4 … “Would you share with me the various features you’d like me to
list on the features sheet please?”
Read #5 … “I’ve developed a list of the top 25 agents in the area, the ones
like myself who are very active in the marketplace … is there anything in
particular you’d like me to tell them? Are there any agents you’d also like
me to notify regarding your home being for sale?”
Read #6 … “I’m always looking for agent feedback after showings … to
improve saleability. Are there any changes you’re planning to make in the
next few days to your home?”
Read #7 … Go on to #8
Read #8 … “One of my two jobs is to find a buyer for your home so I
prospect daily … is there anyone you know that I should be calling
regarding the purchase of your home?”
Read#9 … Go on to #10.
Read #10 … “You do want a sign and a lock-box don’t you?”
Read #11 … “Unfortunately you and I can’t control who shows the property
or the qualifications of their prospects … I’ll do the best I can to convince all
the agents to pre-qualify … okay?
DAY THREE
64 | Mike Ferry’s Sales Talk
Read #12 … Go on to #13.
Read #13 … Go on to #14
Read #14 … “Would you mind keeping the cards of the salespeople, so I
can pick them up and follow-up? Where would you like to keep them for
me?”
Read #15 … Go on to #16
Read #16 … “Will you generally be available on weeknights or should I call
you at the office … when an offer comes in?”
Read #17 … Go on to #18
Read #18 … “This is the part we all like the best, it’s when you get your
94% and we get our 6% … are there any other questions about what I’ll be
doing to get your home sold?”
DAY THREE
© 2011 The Mike Ferry Organization. All Right Reserved | 65
CLOSING TECHNIQUES FOR THE LISTING PRESENTATION
Powerful Close #1
To give your property maximum exposure … I am going to recommend
we get a lockbox on the property right away … a sing in the front yard
… and of course … we’ll get it on the internet as fast as possible …
Now … when would you like us to come by with the sign and lockbox?
Sign the contract.
Powerful Close #2
Do you feel I can sell your home? Sign the contract.
Powerful Close #3
Is there anything else stopping you from listing your home with me
tonight? Sign the contract.
Powerful Close #4
As a professional service … and to start our relationship … I’ll call the
agents you still have appointments with … and cancel the
appointments for you … Would you like to know what I’m going to say?
“They thought you were terrific … They wanted to give you a chance
but … I convinced them to … list with me tonight! If you hav any
buyers … go ahead and bring them by … the lockbox will be on the
door tomorrow morning!”
Let’s make a list of who I need to call.
DAY THREE
66 | Mike Ferry’s Sales Talk
Powerful Close #5
Mr. and Mrs. Seller … Based on your time frame … what you want for
your home … and the marketing and exposure you need … I’m the
right person for the job … Put me to work for you right now … Sign the
contract.
Powerful Close #6
Have you noticed that all Realtors say basically the same thing? Let
me show you how I separate myself from my competition … (Show
track record)
(Name) … I sell _____ homes per year while my competitors average
____ per year …
If you were going to hire a doctor to perform surgery … would you hire
someone who does it now and then … or … the doctor who’s done it
day in and day out for years?
Why?
I agree! Go ahead and sign the contract.
Powerful Close #7
When would you like to receive your first offer?
All we need to do now is simply … sign the contract … so I can help
you get what you want in the time you want … won’t that be great?
DAY THREE
© 2011 The Mike Ferry Organization. All Right Reserved | 67
CLOSES FOR THE PRICING PRESENTATION
Powerful Close #1
If I had a Cadillac that was worth $15,000 … and I was advertising it
for $25,000 … under what conditions would it sell?
A) Only if there were no other Cadillac’s available … right? Or … if
there was something incredibly unique … that could be valued as
being worth $10,000 more than a normal Cadillac … does that
make sense?
B) Have I shown you the other homes on the market similar to yours?
So buyers have other options … don’t they?
C) So the only issue is … Are your extras so incredible and unique …
that someone would be willing to pay $____ more … when they
could buy the one down the street and upgrade it to their own
personal taste … for the same money … Does that make sense?
D) Did you buy this home with all the extras? … or did you add them
for your own comfort and enjoyment?
E) Based on that … what price is the obvious choice?
DAY THREE
68 | Mike Ferry’s Sales Talk
Powerful Close #2
I’d rather receive 10 offers and give us the power to negotiate … than
list at your price … and not receive any offers at all … (Name) … let’s
start tonight at _____ … Go ahead and sign the contract.
Powerful Close #3
I’ll put the home on the market … at that price … for the next two
weeks as an experiment … If we have lots of showings and no offers
… the market is telling us it’s priced too high … If we have no
showings and no offers … then the market is telling us this price is
waaay too high!
A) So let’s do this … Sign an automatic price reduction form … and
I’ll only submit it … after we agree … the market says it’s too high
…
B) Go ahead and sign the contract.
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DAY FOUR
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GOING AFTER PRICE REDUCTIONS
One of the key factors in being a productive Agent in today’s market is to
understand the importance of pricing property. It presents one of the
largest challenges for every real estate Agent and at the same time creates
the greatest opportunity for every Agent and every seller you have listed.
The sooner you develop a strong price reduction process, the sooner your
business grows, the more your listings sell and the more money you earn.
Let’s go through the following points carefully as we look at pricing property
and getting price reductions.
1. Our success in getting listings sold _________________________
________________. The sooner we price it right, the faster it sells,
the smoother your business runs, the happier the seller is and the
more money you make.
2. One of the key aspects in pricing and price reductions is having a
thorough understanding of ________________________________
and using them to talk to the seller.
3. Remember you are really ____________________________ … the
market is. You are simply the messenger, when prices go up you
can’t take credit for it, when prices go down you can’t take it
personally.
4. ___________________________ … regarding the price, no matter
how uncomfortable it becomes.
always starts with the price
market statistics
not responsible for their price
Tell them the truth
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5. “Mr. and Mrs. Smith … if we _______________________________
______________________ and no offers your property is overpriced. And if we get no showings, your property is over-priced. Do
you understand this?”
6. Explain to the seller that _______________________________ and
will go up and down based on what the market is doing, what the
lenders are doing and what the competition is doing.
7. Preview property every week because it will give you a stronger
knowledge of your market and will give you more ______________
_____________________________ and going for price reductions.
8. _________________________________________________ if you
can’t get the price you need because the next price reduction is
always harder to get.
9. Once the listing has been taken over-priced (if you have done this),
let them know that _______________________________________
__________________ about pricing. Call them a minimum every
two weeks regarding the price.
10. Remember that any Agent can list a home ____________________
____________________ or above market value but only great
Agents can list homes to sell.
get a lot of showings
prices are fluid
confidence in pricing
Turn down a price reduction
you’ll be updating them regularly
at market value
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PRICE REDUCTION SCRIPTS
The following are Price Reduction Scripts that you can take home and use
on Monday, to do a better job for your seller.
Price Reduction Script 1
1. Hi ______. This is ______ from your Real Estate office. How are
you today?
2. I’m calling today as part of my customer service to give you an
update as to what’s going on with the marketing of your home. Do
you have a couple of moments?
3. Right now there are ______ homes for sale in our MLS area.
4. Each month approximately ______ of these homes sell.
5. Each month another ______ new listings come on the market to
replace the ones that have sold.
6. Based on this information, it could take a while to get your home
sold. Don’t you agree?
7. Right now, we’re asking ________ for your home, correct?
8. At this time, your home has been on the market ________ days.
Were you aware of that?
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9. Did you know that we had approximately ________ buyers look at
your home to date?
10. How many offers have we received so far?
11. Based on this, what do you think the market is telling you about the
price you’re asking for your home?
12. Let me ask you this …. How soon would you like your home to sell?
13. I’d like to tell you what I think has to be done to get your home sold
at this time. Would that be okay?
14. Mr./Mrs. ________, after three to four weeks of being on the market
and you having a lot of showings and your home has still not sold, it
means your home requires a minimum of ______ price adjustment.
15. Also after three to four weeks, if your home is not having any
showings or very few, your home requires a price reduction of at
least _________.
16. So based on the showing activity that you’re having, wouldn’t you
agree we have to make a price reduction today?
17. Mr./Mrs. _____, let’s do this. Let’s go ahead and adjust the price of
your home in the MLS by _______ and I’ll continue to work and get
it sold. Any questions?
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Price Reduction Script 2
Another version of a price reduction script.
1. Thanks for taking the time to meet with me. This tells me that you
are also very concerned that your home is not sold.
2. Let’s take a look at what’s happened since we’ve listed your home
for sale.
3. We’ve had _______ Agents show the property and we have
followed up with _______ buyers who have called to inquire about
your property. Were you aware of these numbers? To date we
have not received a written offer that is acceptable to you, have we?
Is it your goal that we do something about that as soon as possible?
4. Wouldn’t you agree that being able to generate this activity tells us
we are doing our job but the market isn’t accepting what we are
doing?
5. Mr./Mrs. _________ are you aware of how many homes are on the
market in this area? Are you aware of how many have sold in the
past 30 days? I’m sure you realize that currently there is _______
supply on the market, competing with yours.
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6. I’m also sure that you’re aware of what’s going on behind the
slumping home sales … are you aware of what’s happening with the
lending institutions?
a. Tougher qualifying
b. Buyers need higher credit scores
c. Buyers need more money down because the lenders see
values continuing to decline
7. As a result … what do you think this does to the pool of potential
buyers and their ability to buy your home?
8. Let’s take a look at what the market is telling us about your home …
review the new CMA.
9. Based upon the competition and the homes the buyers have
actually selected to purchase, what price do you feel we should
offer on your home to get the same success?
10. To ensure that your home sells, would you reduce the price of your
home by _______?
11. Many buyers won’t hesitate to offer 10% less than your asking price
to start negotiations if they feel your home is priced properly. As
you can see, your home was not one that the buyer selected to
purchase last month.
12. Doesn’t it make sense to get your price down to ________ to get
your home sold?
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ADDITIONAL PRICE REDUCTION SCRIPTS
_____ … I made a terrible mistake when I listed your home … can I
explain? When I listed your home I wasn’t strong enough on the price …
so … I wrote down four solutions … OK …?
1. Reduce the price tonight by ( ) %! ( ) Great!
2. Add an additional 1 to 2% commission for the selling agent! ( )
Fantastic!
3. Extend the listing agreement to its original term … ( ) Terrific!
4. I’ll have to give you the listing back … _____ I know this is tough …
which of the four is better for you?
Mr. and Mrs. Seller … based on my knowledge … it seems you’re still the
highest bidder for your home … we need to go ahead and reduce the price
by _____ … tonight!
Hi _____ … I’m calling in with your weekly update … in the last 7 days,
we’ve had _____ showings … and _____ offers … As we’ve discussed …
it’s time to … reduce the price … so we can create some activity and
receive some showings.
On a scale of 1 – 10 … 10 meaning … We must move now … 1 meaning
we’ll move only if we get our price … where would you rate yourself in
terms of your motivation to sell your home?
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LEARNING CANNED PRESENTATIONS OR SCRIPTS
Let’s start by thinking about three important questions that can have a
major impact on your business and your profitability. First … what changes
do I have to make to increase my overall productivity? Third … am I willing
to do something right now to increase my productivity?
These three questions are critical to every salesperson’s success. The
most common answer we receive is, I have to change my belief in why I
should use scripts, dialogues and canned presentations.
What is the value of a script or canned presentation to you and the
customer? … A great script is 100% customer oriented and benefits the
customer throughout the presentation. It’s also automatic in its response.
Meaning, you no longer have to worry about or think about what you’re
going to have to say … it just comes out of your mouth automatically. It’s
so internalized, meaning the belief you have becomes stronger because
you now own that script when you make it part of who you are and what
you do. Also a canned presentation or script is uninterrupted in its flow …
meaning, you’re not going to be thrown off the track by questions or
interruptions. You can keep yourself and the conversation focused on the
customer.
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Why do most Real Estate people fight using canned presentations and
scripts? Let’s see if any of these answers apply to you.
1. Our egos get in our way … so we think we have a better way.
2. We’re afraid the script may make us look like a salesperson.
3. We don’t know what the scripts are, so therefore, we can’t use them.
4. We don’t see selling Real Estate as a professional sales activity.
5. Scripts take us out of our comfort zone.
6. We’re used to letting the customer control the conversation.
7. Scripts don’t allow us time for bonding.
8. We’re simply too lazy to learn them.
9. We’re independent contractors, you can’t tell us what to do.
10. Using scripts might cause us to succeed … Many of us are afraid of
succeeding.
What are the advantages to the prospect, customer and ourselves in using
scripts and canned presentation?
1. They give us the confidence to do our job.
2. We don’t waste the prospect’s time or our own.
3. They allow us to stay focused and in the present moment.
4. Scripts allow us to discuss what’s important to the seller, nothing else.
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5. They allow for consistency in what we say and do.
6. The agent remains in control as the salesperson should.
7. The scripts give the customer information to make a valid decision.
8. The prospect or customer receives the exact benefits of working
with us and using our service.
9. And most importantly … the customer wins and we win.
One of the challenges of learning scripts is that it requires we change some
of our beliefs, some of our actions, and most importantly the words we use.
This, of course, creates frustration. We have to remember that all growth
comes from the frustration we experience. We have to recognize that we
have to make changes in what we say and what we do, if we want to
change the results.
So how do we internalize the scripts or make the scripts part of us? It starts
with our mindset. First … we have to create a positive expectation of
knowing the scripts inside out, backwards and forwards. We have to say to
ourselves … “As I learn these scripts … these great things are going to
happen in my life.” Second … write out every day for 30 days the five
positive benefits you’ll receive when you learn your scripts and dialogues.
For example, more production … more income … children’s college fund …
a long needed vacation … a substantial savings account.
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Third … write out every day for 30 days the five negative consequences
that will happen if you don’t learn your scripts. For example, a lack of
income to pay my bills … having to keep driving the old car … no vacation
for my family. Fourth … write out your production and income goals and
affirmations for 30 days because of the scripts … “I do sell more homes
every month because of these scripts and earn $30,000 in income.”
So how do we internalize the words relatively quickly?
1. Take the first sentence of the script you’re working on and read it
out loud five times. For example, “When do you plan on moving? …
When do you plan on moving? … When do you plan on moving? …
When do you plan on moving? … When do you plan on moving?”
2. Repeat the same sentence out loud, five times with a huge smile on
your face. You will notice a difference in your tonality when you say
it with a smile. “When do you plan on moving (smile).”
3. Take the second line of the script you’re working on and read it out
loud ten times, with a big smile on your face.
4. Now for the hard part. Put your script card down, don’t look at it and
then chant the first two questions out loud ten times with a big smile.
Any time you make a mistake, you go back to the beginning and
start over.
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5. Do that exercise for five to six sentences of the script you’re working
on and any time you screw it up, go right back to the beginning. Just
add a sentence to the end of each one, each time … Just think,
you’ll read them out loud 500 to 600 times and start to internalize
them.
6. Now to really get them into your heads … say the same script out
loud as fast as you can five times in a row. Do the first sentence
alone, then the first and second sentence, then the first, second and
third sentences. Remember, five times in a row as fast as you can.
Your chances of stumbling when you’re actually reading the scripts
at a normal speed after you’ve practiced and chanted is very small.
The scripts at a normal speed after you’ve practiced and chanted is
very small. The scripts will start coming out of you naturally and
instead of thinking about what you have to say next, you’ll simply be
able to listen to how the customer is responding.
If you want to take your scripts to the next level in terms of internalizing
them … try the following:
1. Create your own affirmation tape of all the scripts you use, in a
regular tone of voice and a huge smile on your face. As you listen to
these tapes, you’re affirming to yourself what you know.
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2. Write out personal affirmations about your scripts each day. For
example, “I know my scripts well … I am great at my scripts.
They’re the reason why sellers hire me … I follow my presentation
every day.”
3. Record a live presentation of you using the scripts and give it an
honest critique … concentrate on what you’re doing right, not what
you’re doing wrong. So how long will it take? … If it took six months
to a year to learn all these scripts would that be too long? The truth
is it doesn’t matter how long it takes because as you keep using
them, you become better at them. Don’t be in a rush … be patient
… expect good results and they will come to you. Keep smiling …
keep practicing and rehearsing … and you will internalize the
scripts.
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MINDSET
Mindset … is almost as difficult to control as our ability to use our skills for
our job every day. Everybody has a story, everybody has an excuse and
everybody has some big reason why they cannot mentally do what they are
supposed to do.
If your goal is to be a lot more productive than you are today, and more
importantly build your business to the highest level possible we have to
take control of what goes on inside our heads. Until we do that, we’re not
going to be able to use the skills that we’ve learned the last four days to the
degree that we should. Let’s look carefully at the following points on
mindset.
1. Mindset is nothing more than look at _______________________
____________________________________ regarding ourselves,
our business and what we’re doing at the moment. These thoughts
could be either positive or negative … but they are never neutral.
2. If I want to develop the mental strength to do my job every day,
which will allow me to ____________________________________,
I have to be 100% honest with myself regarding the skills that I have
and strengthening my mindset daily.
what thought we hope to
have at a given moment
win on a regular basis
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3. A good portion of the world operates ________________________
______________________________________. Whether it be the
conversations we have with each other … the articles we read or
the media we listen to … or just the thoughts we carry in our head
on a daily basis. Negative thinking is always more powerful than
positive thinking because of the amount of it that is available to us.
We have to work every hour to eliminate negative thinking.
4. Every day in the Real Estate business, ______________________
______________________________ … do we follow our schedule
… do we spend time prospecting … do we follow-up on our leads …
do we decide to succeed that day … or do we allow the option
called “failure” to be part of our day? If the option called “failure” is
something you face as the day progresses … Stop. Stare it down.
Eliminate it.
5. In Real Estate sales, as with almost any sales job, there will be
_____________________________________. The ups are exciting
and the downs are depressing. To eliminate the down moments or
down cycles of a day, we must develop an intense desire to achieve
our goals, which will keep our mind strong.
in a state of very negative thinking
we have a number of
options we’re faced with
daily ups and downs that we encounter
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6. There are hundreds of distractions that take place throughout the
course of the day __________________________________ …
therefore, our productivity. These distractions, whether they be
somebody in our office … a prospect we’re working with … or a
listing that we’ve had too long … costs us time and money. Of all
the distractions we face, however … the drama that we create daily
in our business will always cost us the most.
7. If we’re going to take four 15 minute mindset breaks a day …
________________________________________________. Read
inspirational books … listen to training or inspirational CDs … call
somebody from your mastermind group or one of our accountability
partners.
8. ___________________________________________ spend all
their time focusing on what they don’t like, what they can’t do or on
issues that keep them unproductive. If you have any of those types
of thoughts, make a list of them and keep it for a day, then write out
positive thoughts as a substitute, then throw the old list away.
which could hurt our mindset
we’ll have to plan carefully what we’ll do with that time
Unfortunately too many people
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9. Because you’ve made the decision to work outside of the bounds of
________________________________________ and because
you’ve made the decision to not let the market that we’re involved in
affect your personal production and growth … expect that nonproductive and negative agents will comment and criticize you about
your methods of doing business. This is part of a growth process.
“I am a great salesperson” … “I am a great business person” …
these are two affirmations that we should repeat to ourselves
several times a day. They will help our self-conscious mind develop
a stronger understanding that Real Estate sales is a sales business
like any other business and must be treated that way every day.
10. One way to develop a stronger mindset is to understand that _____
____________________________________ and the more that we
are rejected, the more business we will have. By going out each day
and being rejected a lot, we develop the ability to let rejection
become part of our day, instead of stopping our day.
11. “You become what you think about most of the time,” Earl
Nightingale. As long as we’re thinking about the plans that we have
and we keep those plans foremost in our minds, we are setting
ourselves up for positive results and mindset.
12. “What the mind of man can conceive and believe, they can
achieve,” Napoleon Hill.
traditional agents
we are in the business of rejection
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HANDLING OBJECTIONS
We’ve now had the fun (ha ha ha) of working very hard on how to deal with
the buyer … how to develop business from past clients and centers of
influence … how to do lead follow-up … worked on listing for sale by
owners and expired listings … what to say on just listed/just sold calls …
the entire listing process … and some thoughts on doing a better job in
terms of controlling your thought process.
Now we’re going to look at handling objections in terms of how do we do a
better job when working with buyer and seller objections and also looking at
answers to specific objections that buyers and sellers give. Included will be
the answers to the ten common objections you’re going to receive. So
when you go back into the field on Monday you’ll be better prepared than
you were when you arrived on Tuesday. Let’s begin.
1. We have to know the difference between an objection …which is
____________________________ of the customer or prospect that
remains unanswered … and a condition which is _______________
______________________ that you can do nothing about.
2. There is a ______________________________________ between
the number of objections you’ll receive and the strength and quality
of your presentation. Keep working on strengthening your
presentation to bring buyers and sellers to your side quickly.
direct correlation
a question in the mind
a statement of fact
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3. When handling objections, ________________________________
_____________________, always nod your head and never argue.
4. We must recognize that at time the prospect is simply bringing up
an objection ___________________________________________
and slow down the sales process … most of the time you can
continue without answering that specific objection.
5. In most cases, the prospect is not going to give you an objection or
ask you a question if they weren’t considering working with you …
_____________________________________________________.
6. The biggest advantage of pre-qualifying every buyer and seller
prospect is you will ______________________________________
before you make your presentation. Also if you use a pre-listing
package and you call back and confirm you will also draw out any
objections they may have.
7. Since objections _____________________________ … and do not
change … simply know the answers, which gives you confidence
and gives the prospect confidence in you.
always agree, always smile
to create conversation
don’t let what they say upset you
draw out the objections
never change
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8. The best way to learn how to handle the objection is …
a. ________________________________________________.
b. Work to understand the logic in the scripts.
c. Understand that the client will believe you when you believe
you.
d. Create additional scripts for yourself by listening to what your
prospects say and responding logically to them.
9. Remember the rules of handling objections
a. _________________________________________________
b. _________________________________________________
c. _________________________________________________
d. _________________________________________________
e. _________________________________________________
f. _________________________________________________
10. In professional sports, every member of the team, no matter how
experienced or good they are has to attend three to four weeks of
spring training every year … attend the four-day Mike Ferry Sales
Talk at least once every year.
Memorize and internalize the listing scripts
Never argue, always agree.
Smile and nod your head a lot.
Ask a lot of questions.
Listen carefully to the answers.
Answer the objection if necessary.
Keep moving forward with your presentation.
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HANDLING OBJECTIONS SCRIPTS
1. We want to only give you a 30/90 day listing.
I’m sorry … I won’t do that … ____ months is our company policy …
therefore … all we need to do now is simply … sign the contract … so I
can help you get what you want … in the time you want … won’t that
be great? Sign the contract …
2. We were thinking about (X) company or we’ve never heard of your
company.
I can understand your concern … and I think you realize a company
doesn’t sell a home … it’s the individual agent’s activities …
Do you feel I can sell your home? Terrific!
All we need to do now is simply … sign the contract … so I can help
you get what you want … in the time you want … won’t that be great?
Sign the contract …
3. We’ll save the commission by selling it ourselves.
I agree you can save the commission by selling it yourself … are you
aware that today over _____ homes are for sale … last month only
_____ actually sold … that’s a _____ month supply of homes … if no
other homes come on the market … and … last month ______ homes
went on the market! (Wait for answer)
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And what’s worse … is the fact that only 2% of all For Sale By Owners
sell themselves … and 98% are listed and sold by Real Estate agents
… Can you afford to have only a 2% chance of selling your home?
Let’s do the right thing and simply … sign the contract … so I can help
you get what you want in the time you want … won’t that be great?
Sign the contract.
4. Let’s list high, we can always come down later.
I understand you want to list high … to leave room for negotiating …
and have you considered the problem that creates for you?
Most people won’t even bother looking at properties that are priced too
high … would you rather have a bidding war on your home … or not
have an opportunity to negotiate any offers at all?
All we need to do now is simply … sign the contract … so I can help
you get what you want … in the time you want … won’t that be great?
Sign the contract.
5. We want to think it over.
That’s great … and since three minds are better than two … let’s think
out loud … together … tell me … what are you thinking about?
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6. We want to sleep on it.
You’re right … this is a big decision … isn’t it? Yet … the decision
must be made based upon what you want … correct?
Let’s do this … sign the contract tonight … contingent upon your
approval within 24 hours … that way we both win … can I tell you how?
You have 24 hours with no pressure … so you can … feel comfortable
… and sleep on it tonight … then I’ll call you in the morning … and you
simply … tell me yes … or no.
If you say no … I’ll rip up the contract … and you have no obligation … if
you … say yes … I’ll begin marketing your property immediately … either
way …
All we need to do now is simply … sign the contract … so I can help
you get what you want … in the time you want … won’t that be great?
Sign the contract.
7. I have a friend in the business
I can appreciate that … and almost everyone does … so let me ask
you … do you absolutely have to … sell this home … or … are you just
looking to do your friend a favor?
Obviously … you had me out for a reason … right?
Do you feel I can sell your home? Terrific!
All we need to do now is simply … sign the contract … so I can help
you get what you want … in the time you want … won’t that be great?
Sign the contract.
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8. Another agent said they could get me more money.
I can appreciate that … and what you probably don’t understand is this …
An agent that will … list your property … overpriced … assumes they can
take the listing now … and then start beating you up on the price … week
after week after week after week … is that what you want? … Who would?
They’re afraid to tell you the truth … up front … ________ … do you
want the truth? Of course you do.
Let’s do the right thing … and simply … sign the contract … so I can
help you get what you want … in the time you want … won’t that be
great?
Sign the contract.
9. You haven’t sold any homes in my area.
That’s a valid concern … the obvious reason you’ll … choose me now
… is that my company has homes for sale all over the community …
Meaning … when you … sign the contract tonight … we can expose
your property to potential buyers from all over the area … do you
realize how important that kind of exposure is?
Now … isn’t that what you want? … Of course it is …
Therefore … all we need to do now is simply … sign the contract … so
I can help you get what you want … in the time you want … won’t that
be great?
Sign the contract.
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10. What do you do to sell homes?
That’s a valid concern … and let me ask you … are you aware … that
there are two kinds of Real Estate agents?
There are passive and active … I am an active agent … meaning …
when you … sign the contract tonight … I will spend my time actively
marketing your home … and … to the other active agents in town …
isn’t that what you want? You want someone … who will work actively
… and aggressively … to get your home sold … right? Terrific!
All we need to do now is simply … sign the contract … so I can help
you get what you want … in the time you want … won’t that be great?
Sign the contract.
11. We want you to cut your commission.
No … any other questions?
Sign the contract.
12. The other agent said he / she would.
I can appreciate that … can I tell you why that makes me nervous? If
other agents do not have the courage … to stand up to you …
regarding their own worth … how strong could they possibly be …
defending you … and the price we set for your home? ________ I
have that courage … do you feel I can sell your home? (YES) Terrific!
All we need to do now is simply … sign the contract … so I can help
you get what you want … in the time you want … won’t that be great?
Sign the contract.
ADDENDUM – ADDITIONAL SCRIPTS
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EXPIRED LISTING – TELEPHONE
Good Morning,
Your listing has expired, right? Why don’t I stop by and take a look at your
home? I think that while I’m there I can give you some ideas as to why
your home did not sell. That way if you decide to put your home back on
the market you won’t make the same mistake twice. Does that make sense
to you?
PROSPECTING – OPEN HOUSE
1. May I show you through the home?
2. Do you presently live in the area?
3. Are you presently working with another agent?
4. What would be the best time to show you property?
5. Would _____ at _____ be okay?
6. Oh, by the way, your name is?
ADDENDUM – ADDITIONAL SCRIPTS
96 | Mike Ferry’s Sales Talk
PROSPECTING – SIGN CALLS
Key Point: A high percentage of your sign calls are going to be sellers, not
just buyers. When the call comes in, before answering any questions, ask
the following:
“Which home in the area do you own?”
PROSPECTING – TENANT OCCUPIED LISTINGS
1. Would you mind showing me through your home?
2. When this home sells, are you planning to purchase a home or
continue to rent?
3. What would be the best time to stop by and talk to you about
purchasing / renting a home?
ADDENDUM – ADDITIONAL SCRIPTS
© 2011 The Mike Ferry Organization. All Right Reserved | 97
TELEPHONE – AD CALL / SIGN RESPONSES
1. “Where is the property located?”
The property is located in the general area of _____ and_____. Are
you familiar with this area? Is this an area you would consider? What
would be the best time to show you the property, now ____ or at ____?
2. “Give me the exact address.”
I’d be happy to give you the exact address Mrs. _____, however, one
of the conditions of the contract with the sellers is that we accompany
each prospect to the property. I’m free now or would _____ be better?
3. “I’ll just meet you at the property.”
That would be fine Mr. _____. Fortunately, our office is not too far
from the home. To avoid the possibility of our missing one another,
can you come in now or would _____ be better?
4. “How close are the schools?”
I’d be happy to show you the exact locations of the schools. How old
are your children? We can measure the exact distance when we see
the home. Are you free now or would _____ be better?
5. “How far is the shopping?”
I’d be happy to show you the shopping areas Mr. _____. Do you prefer
to drive or walk to shopping? We can measure the exact distance
when we see the home. Are you free now or would _____ be better?
6. “We would like to just drive by the property.”
It’s always a good idea to see the exterior of a home as well as the
neighborhood. What time do you plan to drive by? Fine – I’m
available at that time to answer any questions you might have. Should
I pick you up at your home or do you want to meet me at my office?
ADDENDUM – ADDITIONAL SCRIPTS
98 | Mike Ferry’s Sales Talk
7. “What are the taxes?”
I think you’ll find the taxes are proportionate to the price of the home.
Can I show you the home now or would be better___________?
8. “What is the loan on the property?”
The loan on the property is quite low (or high). What did you have in
mind for a down payment? Fine, would now or ____ be the best time
to show you the home?
9. “Will they sell the home FHA or VA?”
I’d be happy to submit a VA offer? What year were you in the service?
(If FHA, I’d be happy to submit.) What would be the best time to show
you the property?
10. “What down payment is necessary?”
The sellers are open to various types of financial offers What down
payment did you have in mind? Would now or _____ be the best time
to show you the home?
11. “Why are they selling?”
I don’t have the file on my desk. I will try to have that information for
you when we get together. What’s the best time to show you the
home, now or _____?
12. “Are there any children in the area?”
I think it would be hard to find an area that did not have some children.
How many children are there in your family? Should I pick you up at
your home or meet you at the office?
13. “What is the price of the home?”
It’s in the $_____ range. What price range had you been considering?
Fine. I’m available now or would _____ be better?
ADDENDUM – ADDITIONAL SCRIPTS
© 2011 The Mike Ferry Organization. All Right Reserved | 99
SHOWING PROPERTY
Please review each point carefully before taking your buyer out to sell them
a home.
1. Show your own personal listings first.
2. As quickly as possible, separate the lookers from the buyers.
3. Don’t take anything with you while you go to show the property
except the contract.
4. Work hard to sell the seller.
5. Make it as easy as possible for the buyer to buy from you.
6. Learn to give the customers what they want.
7. Always call first before showing property.
8. Always call back and explain why you didn’t show a home you were
supposed to.
9. Try to ask questions of the buyer while in the car.
10. Don’t oversell the home prior to the showing.
11. If the buyer is motivated to buy, don’t quit showing them property until
they buy.
12. Select a good route to the home.
13. Always park across the street from the home.
ADDENDUM – ADDITIONAL SCRIPTS
100 | Mike Ferry’s Sales Talk
14. As you approach the front door say, “Let’s look at this home as if it
were vacant.”
15. Once inside the front door say, “Make yourselves at home. I’m here
just to answer your questions.”
16. Always keep them together inside the home.
17. Try to save something good for last. But show it to them first.
18. Get the customers emotionally involved in the home through
questions.
19. Be enthusiastic.
20. Never show more than three homes at one time.
21. Encourage the customer to take notes while showing property.
22. Always take one car, even if it is theirs.
23. Never make statements, only ask questions while showing property.
ADDENDUM – ADDITIONAL SCRIPTS
© 2011 The Mike Ferry Organization. All Right Reserved | 101
PRESENTING THE OFFER
1. Determine the seller’s motivation.
2. Discuss the qualifications of your buyer.
3. Discuss the deposit.
4. Read the contract from the bottom up.
5. Go directly to the net sheet.
6. Review the benefits of your offer.
7. Ask for the signature.
The end
© 2011 The Mike Ferry Organization. All Rights Reserved
www.MikeFerry.com
Further reading
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