Sales Strategy: Creating an Active and Coming Soon Business PlanJul 27, 2022
By now you should have watched the video below on the first step to becoming a local area expert. The video walks you through how to set up the tools of the trade that help make seeing houses easier for you. Your goal is to list more houses while gaining control of your real estate business so that you achieve consistent income.
The 2nd step to becoming a real estate local area expert is to create an active and coming soon business plan. Jeff breaks it down here:
There are three steps in the process:
- (Present) Be a local area expert - the only way that guarantees a win. Now, you might not win every deal, but sellers want someone who will not let their home sell for pennies.
A local area expert is someone who has been in and is aware of the strengths and weaknesses of the houses in the neighborhood. Area experts know about ⅓ of new listings hitting the market, every buyer, and who they’re working with. They also know about local stats, and, most importantly, what makes a neighborhood great including the different types of houses and their price ranges.
As a local area expert, you also want to be an expert on community features such as schools, parks, restaurants, etc.
- (Prospect) Put yourself on the path of opportunity. When you’re out and about, you are armed with opportunities to “camp out”. You’ll see buyers who prefer to look at homes untethered, drive by at 8 am, midday, or early evening. Learn to knock on the doors of neighbors to buy time for your client. Door knocking helps you develop better buyer stories from the people you’ve been talking to in advance.
- (Promoting upstream from prospecting, and marketing) Post to social media with photos and videos to show your work. When you’re not working with a buyer or seller, brag about your work on social media or local neighborhood sites.
Taking Advantage of a Proactive Neighborhood Approach
I call this the Sibbach sales strategy, dangling a carrot. For example, a seller wants a buyer who is ready to buy and is looking in their neighborhood, who can also afford the seller’s price. So the “carrot” you dangle is the willing and ready buyer.
You’ll essentially go through your database of potential buyers to determine who’s the most viable “carrot” and dangle it to your seller. We’ll cover this in more detail in step 3, buyer story skills building.
Here’s what you do, step by step:
- You talk to a lead from your database. They’re looking for a 3 bed, 2 bath home in Glendale, Arizona, ideally one level but they’re flexible for the right house at the right price. They don’t need a pool but they’re open to it if all the other items on their list are checked off.
Pro Tip: This is a general description, most buyers start looking 2-3 years ahead of when they plan to move. This means buyers like to be untethered until they walk into the home of their dreams. It’s at that moment that they need an agent and they’re going to choose the first one that’s in front of them… hopefully you!
- Become a storyteller. Storytelling is a sales strategy skill. They point out the best features but may not include all of the details.
- See 5-15 houses a day. Look at the houses in a 3-mile radius in your neighborhood, 3-4 days a week. The goal is to look at homes every day which should be achievable given the proximity to where you live.
I can’t leave you with the steps without having a script!
Script (part 1)
“Hey, I am _______ with the Sibbach Team at eXp Realty” (wait to respond until they give you their name)
Pro Tip: Before you knock on the door, look at when they bought their home, who owns it, and if they’ve ever rented their home. This gives you background on who you may see when they answer the door.
Script (part 2)
“I wanted to ask you about the neighborhood. How long have you lived here? I’m looking for my buyer (point out the characteristics your buyer is looking for)...”
Pro Tip: This is where storytelling comes in. Tell your buyer’s story of how long and hard they’ve been looking, and how much they would love to be in this neighborhood.
Here’s the full script:
“I’m working with Jeff Sibbach from Pennsylvania. He is looking for a 3 bed, 2 bath home with no pool. He would love to be in this neighborhood if the price is right.”
(Don’t let on that the buyer can’t afford the home, instead say he can afford the home but has a budget he wants to stay within.)
“I’m waiting to see if he’s going to make my appointment. I just texted him about your neighbor's new listing but I know he had something come up. If he doesn’t like your neighbor's home, would you consider moving for the right price? Great! What’s the best number to reach you at?”
Script (part 3)
If they say no…
Do you know of any other neighbors who may be looking to sell? Maybe there’s another neighbor who is looking for an easy sale?
Thank the neighbor for their time then head out to the neighbor they referred you to. You were buying time to give any buyers to pull up. If you want to buy more time, knock on another door.
You’re knocking on doors to find other potential listings. Every home that’s listed gives you 3-5 buyer opportunities. Door knocking and talking to neighbors also buy you time for untethered buyers to drive to the listing you are visiting and have an appointment to show.
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