Kevin Ward Live Listing Presentation Role Play

Jessie hello how are you good get me your phone absolutely great to see it you get it safe yesterday absolutely I'll be polite but it was fun great I'll tell you what I'm so excited about helping you guys actually get the home on the market that's not good so mark cities for both of you dense right excited about it yeah absolutely tell you what before we sit down let's taking a quick look around would that be okay with you absolutely right I'll just meet you back at the kitchen table and a couple of minutes okay courtesy Wow has it a great place yeah thank you let's see what let's talk about let's talk about getting you to Utah yeah and you're already there yes I'm and obviously you want to be there yeah Wow don't tell I know it's kind of its kind of frustrating yes I had to take me some time to get there I'll tell you what Jesse Tom I actually wrote down always start with three really important questions my first question is the apps we have to sell this house yes we're definitely sell in the house and I'm moving not planning to come back and not interested or anything okay great the second question is will you price your home world will actually sell are you okay if it just you know stays on the market for a long time again yeah we want to zoom yeah and you definitely wanna get us all yeah I'm glad we're on the same page on that and then there's now the third most important question is do you want me to handle the sophomore um so far you're doing real well you know I think a comfortable at this point good so far so good yeah right well obviously at the end of my presentation tonight one of three things is going to happen number one of course is you'll have the opportunity so let's deal with it now Pat number two you may decide not to list your home with me and sometimes number three I may decide not to take a listing and just once you guys to know any one of those is fine with me my job is simply to help represent your best interest and hope you guys get what you want to get to Utah that make sense good okay yeah right now real quick I just want to take a moment and review the questions that the information and we talked about over the phone okay now you guys obviously removing to Park City Utah you're running ski resort there correct that's exciting congratulations right and you're actually commuting back and forth so you even you talked on the phone you like to be there yesterday absent honest you want to get the home sold as quick as possible and you had the house on the market for a run under a million and reduced it to 950 and you'd mention obviously the prices was a problem but you did not want to go below 900,000 Fred okay and you said you a four hundred twenty thousand and obviously you want to get your cash out to put down the next house but you've already have under contractor correct excellent okay great and is there a deadline on that contract on the contingency or what no it's this one it's a situation where they said you know we that they wanted us to list with their affiliate here you know it's called a banker okay we said that you know we were heavier than their agents so they didn't want to really put a contract together yet house is still in the market so go figure once we get up sold we'll go back to them okay great so basically we need to get this house sold before that one sells correct or you lose that house yeah okay but what you don't let that happen well you know there's a lot of houses on the market in you yeah so we lost ethic good it's not a do or die but you like the house yes yeah it's a do or I guy so yeah which is important right so my job is keep you alive and make you happy right okay nicely great and you said that you're talking to a couple of brokers and have you already met with them um one yes okay party met with mine you still have a one to go we're questioning that because you know it's better the business very long kept me need to have the stands someone that knows what get done quick period is not excellent and obviously you guys are ready to make a decision as soon as you know what the right decision is correct okay great and at this point you're not planning to sell yourself absolutely okay excellent perfect well I think what they're really the good news is there's only two issues that we had to talk about tonight number one is your motivation to sell the topic which we've already established right definitely not a minute yeah and then number two is the price that we set on your own now what's important is for you to realize in this market that those really are the only two issues in selling a house today so are we clear on that part yeah trying to the price of motivation exactly so I prepared what we call comparative market analysis and you have seen one of these before right right now actually there are two parts to this research the first part right here the active listings I call it fantasy lane because it's what homeowners want to get for their house but we don't know to make sense and then part two of sold colors yeah I'll call that reality because it's what real estate professionals have listed and actually sold homes for now Jesse basically we're going to have to decide tonight where you guys are going to spend your time that make sense and see if the problem is is for the last four months unfortunately it looks like Fantasyland keeps you here and living here in the beach cities and reality is what's going to take to get you to Park cities make sense okay great now here's what's important the purpose of a comparative market analysis is actually to determine the value of your home in the eyes of a buyer right now have you thought about how iers determine value uh yeah I mean absolutely they're going to look at the comparable sales and other things are sold for management right so they're they're gonna they're gonna do it by the Harrison shopping right and they're going to not just look at your house they're going to look at the price of your home with its features and benefits and then they're going to compare it to the features and benefits of other homes that are on the market right now or that have recently sold okay so that's how buyers shop in fact let me just do this let's say for example that you guys were going to kind of buy a new car okay and you went down to the dealership and one dealership had the exact car you wanted for $40,000 okay now you're going to go look at another dealership right so you want to another dealership and they have the exact same car again for $40,000 exact same car except this one has a nav system and it has the full premium package same price which car has more value this one right here right okay and why is that so tom well because you're getting more for your mother exactly you're getting more for your money but what it gets we went back to the first dealership and they put the cart and don't have system no premium package but they put it on sale for $32,000 which car would be the best value then first part the first car and why is that because I can put it on my own now putting home to having do your own upgrades and throw $8,000 right right so the point is you can see that if you want to increase value in the eyes of a buyer a lower the price or B have more features of benefits or comparable price the same price does that make sense you guys have done a lot of upgrades to your property likely several the other homes or where if you look at the result right but unless you're planning to add more features of benefits you're still are you you're going with all that down then obviously today price is the only issue okay can I show it I mean yeah okay right now I just want us to start will first start here at the fantasy land part okay and I just want to show you at colors these are five homes that are very very similar to yours all right here in this part of her most of each if notice that one of them is right here next door virtually yeah okay and then these four right here are all right you know within just a quarter less than a quarter mile from here the three of these four are much closer to the beach then you guys are okay here you are you guys are in the Greenbelt area they're actually on the scene all right okay so it makes a little that make some difference in value but that's that's what hires are looking at you know everybody would like to be closer to the beach for a price range so I want you just to notice for example let's just start with this household next door because it's the one yeah this is there definitely be looking at there's this one sit around okay I notice apparently it's the exact same floor plan or not and I went in and look at my book I remember correctly it's the exact same floor plan is yours okay they've updated it and upgraded have you have seen this house we still went to frisk a market yeah I noticed I think ours is nicer you know their kitchen was updated but it was yeah they don't have the view right well in your unfortunately your view is not there's no view here either on your house sure man go up on the roof got it so what's this you notice how many bedrooms yeah three three bedrooms captain how many baths one one bath how many square feet it's 11:25 11:25 which is the same as you okay great and notice what price they're asking 179 just put another market for seven hundred ninety nine thousand yeah and notice how many days you spent on the market it's been 11 yes only been on the market 11 days which means you're going to be competing this time head-to-head with that house Wow the saloa surprise have you called that agent to find out that everything off as long as a standard sale okay as far as I know what this one is still available now notice these other houses right here notice how many bidders this one is three three vendors the one Springfield Tony bath it has has make sure it knows how many square feet it has it's a little bigger 14:15 1469 yeah yeah it's not as nice as your home but notice what price rs8 8:45 and it's got three hundred three hundred more square feet and an extra bathroom except plus gets closer to the beach than your system makes sense plos been on the market Wow failure no it's interesting they actually started it at nine hundred and forty nine thousand they've reduced it over a hundred thousand dollars okay now if you would that make sense you see what I'm saying here so notice in just these other homes sort of grace over again these two are both very close to the beach two blocks off both of them have full have ocean views okay again okay agenda bedroom so they only have two bidders these two okay they both have two baths we look at the size of them again how many sore feet one of them figure 15 2015 hundred square feet and this one that's close to our is the eleven seventy 1134 close again notice the price they're asking both of them we're asking how much is that one eight seventy nine eight seven on time how much is that one day before any day spent on the market Tom how long let's is that that's that's over six legs Tom you interested in for six months no I mean obviously not you know and all I'm doing is I'm just saying what this is the reality of what's happening in this market and we got to deal with this you got homes here that are significantly larger than yours not as nice but it has an ocean view and it's an eight seventy nine and it's still been on the market for six months it still had a soul now your house is nicer but again square footage in it's significantly closer to the beach I mean some babe you okay and I've seen that house there's nothing wrong with other than it needs some updating it was and they started out with it overpriced again so what price are you suggesting well let's now look at reality given three homes that have sold recently they're very much like yours okay for example this house on Springfield at okay dose how many veterans only have only has two bedrooms two baths two baths square feet so it's um it's smaller than yours notice what price is sold for whoa $6.99 so for $6.99 that this home is virtually in the same condition yours completely renovated it completely updated if you see me you know that neighborhood right you see now I didn't see that but it's that's kind of the inverse of what we were just talking about because now they're even further but it beats than us it's pretty it's fairly comfortable to the beach in terms of distance from the beach okay because the bottom line is the features of having a view or a walk to the beach both of her both yours and theirs are very comfortable never spent okay okay no tomatoes so not too long not too long would that be nice to have your house under contract sold in 19 days Wow okay when we price it right that's what happens okay I noticed this house right here 12:27 20th place notice how I better yeah that's the bigger one potential or better until you ask well yeah how many square feet 1222 1222 square feet it's a little bit little bigger this house yours is a little bit nicer than this way it's been remodeled and updated but not as recently as yours okay they've got some great landscaping and they're closer to the beach notice what their price they sold for $749,000 six days now you want to know what's amazing is that house was actually listed at 720 500 720 okay in this market we price it right when it sells quick and so you're going to get as good a price as you can get in fact you may even get above list price if you price right because you get people excited about your home that makes sense in your prime and then this last property just want you to notice here 20 on 460 to 25th Street again you know just a few blocks from the beach much closer notice how many bedrooms - only two bedrooms now too bad that this house was completely renovated in 2007 notice how many square feet 11 both that 1107 and now again do you know you know this neighborhood right we're going to seen this house I have necessarily having taken completely remodeled and 2007 completely done when they bought it notice what price they were asking 899 notes for prospects and so forth yeah 825 825 a little bit it still took four months okay they had actually reduced the price to get it to sell and again this one's closer to the beach significantly closer to the beach completely remodel very much like yours okay so you kind of see a trend well yeah I mean it's supply and demand and price versus value exactly so let me ask you guys this obviously moving just part cities is something you're definitely done I mean you definitely going you're definitely selling this house because you need the money all right yeah so based on what we're seeing that's what price did you feel we got to use to actually remember create value in the eyes of the buyer and to get somebody to decide to buy your home versus the competition well you know I think that with everything that I've seen in other Realtors that I've talked to I'm comfortable having them tell me their price first okay so what price do you think really really pretty well now that you see these numbers okay and I understand your house is pretty as is you know this one and that one these these three houses are have the same thing plus B's okay now that you've seen these prices based on what we're saying here I'm going to recommend price of 700 now you guys one of the park city drive guys are Jesse will you list your home with me for that price tonight thank you no no are you telling me that that's the price are you telling me if I listed at that price I'm going to be one of the guys that they pop up great question here's what I'm telling you based on what we're seeing in the market that's the price your home so they want to go higher than that limay okay so you get to the right price you can see one based on what we're seeing actually happening based on where the competition is because you'd like to be one of these homes that sells sooner rather than be sitting here six months from now or a year from now right I just want us to put that put us in that position to get you the most money in your pocket that we can in the least amount of time well I've heard no we didn't have this experience we didn't have any offers but I've heard that the buyers out there are looking to make a deal right now so if I is listed at $7.99 and they're going to offer me 740 right then I'm going to end up playing that game what do you think that we should listen maybe at 8:49 and give them some room today Angie I took the bread that's a great question it's a valid concern is you know do it if we listen at a 50 and then have some room to play with can I tell you the advantage of listing it here at 799 seemed virtually in this market the good news is it's virtually impossible to underprice your home connects mine okay just like this home right here a lot of properties on the market as you know there's a lot of REO properties bank owned properties around and not so much right here but around us there's a different mentality of that is that a lot of times when a price is a home as prices competitively it actually rather than being a asking price that we're going to negotiate it down from it's actually more like an opening bid price so kind of an option more of an auction mentality except that what that does is there are a lot of buyers out there in the market right now homes are selling these these three notes of all sold here within the last they'll closed these two in January and this one is - sandy suburb okay buyers are buying it what I want to do is get the buyers in your home and excited about your home getting multiple offers and won't if there's a possibility of getting more for the house that's the price that we'll get rather than putting it at a price where we have to now wait and maybe do like they've done to cap this price reduction game and your house becomes market worried in the meantime that make sense well I was thinking that 850 would be good that I see this one is like almost three months on the market yeah well and again I don't want you to I don't want us to price your home where it helps these cells first helps these to sell first that make sense then if what I'm hearing you say is correct you're saying if it's worth a 30 we're going to end up getting a 30 if you get if the buyers are out there willing to pay thirty forty seven ninety nine we get multiple offers just like this home is sold earlier this month was listed at seven twenty five is sold at six days at 7:49 so if we consider that price if you are you sitting there telling me you can get me that price I'm not going to be looking at somebody wanting to die at s-76 depth so Craig question what I can guarantee you is work that I'm going to represent your best interest I will negotiate to you the best terms and price that are possible to get in this market I can't predict the future how long do you think it makes takes itself well basically only read the question the only reason to listen at this price is to get it done what you're balancing here for me is you're saying it's a correlation between time and price it is except that the longer home sits on the market the less it brings right so if I listed at $7.99 you're getting it the best price possible now here's the difference average homes are selling in Hermosa Beach the average days on the market is about 50 days but the homes that are not selling in term of each the average days when markets over a hundred days fantasy land reality what that means is is if your home is priced right it will sell typically in less than in the next month your home looks great great location there's nothing negative about your home the only negative but your home in the past was the price we price it make it attractive people in this home you're going to do it I would rather have five buyers come in here make us offers and be able to negotiate five offers to get your price rather than to have no offers at all to negotiate does that make sense okay that's why you can see why I'm recommending a press of seven hundred ninety nine thousand base Tonto so that could go up a little bit if there's enough attention with spires yeah we'll see what happens but this is the best prosecute to the most money so I'm ready to go to work for you guys get you to park cities you ready to put me to work well let's talk about how long the term of contract you want and of course the big thing you know who talks about a step commission we talked about a few other things right so now that we know what your professional opinion of value is let's talk about the money okay great so then before we go to the questions of the details that are we I just want to make sure we're all kind on the same page that we've all agreed that this is the price that it's going to take to get you to part cities you tall with the most money in your pocket agreed regardless of the Commission regardless of the term of the contract that is the press well if I can do it quick let me get my money out exactly and I can have this whole process finished in the next 60 days I'm talking cardboard boxes landing in Utah right right then I guess the reality is the reality as you put it exactly okay so so but if I'm taken you know I'm just putting this on top of the table right is that if I'm taken you know what my opinion right now is at least a hundred thousand dollar differential to get it sold quickly yeah I want to share that pain okay and I don't I hear you and believe me I hear you sharing the pain so in obviously it's $100,000 differential now here's what we need to be clear on a hundred thousand dollars with difference Reena eight ninety nine and seven ninety nine is not a matter of could we sell it for $8.99 if we took longer so there's not a trade off of sewing it fast versus selling it for more no I fix ends I think it's got an importing understand we're not under selling your property to sell it fast right now you've done a very thorough job of explaining the reality versus the fantasy good excellent cuz I want to get you guys there with the multiplier in pocket to get you to a house okay move on with your life right excellent now on the length of the contract it's a standard six month contract what I do is I have an EZ out clause after 30 days if you don't feel comfortable with what I'm doing then with simply a written notice we'll have a conversation and I'll release you from the contract okay that's it it's a standard six month contract just because I don't want to be chasing you down worrying about a contract expiring if anything were to happen that's just the standard way I work but what I'm looking for is I will be 100% committed to representing your best interests and you'll know that all along fair enough and you've given me an out after 30 X 30 days piece of cake if after 30 days you'll be dead already that's absolutely it's already written into the listing agreement okay okay so when we when we go my job is to represent your best interest if you don't feel I'm doing that then I'm probably not at 30 days what I told you is we're going to be getting some serious action and we're not going to wait 30 days to have a conversation if we're not make sense okay that's what it is now unfortunately I've already reduced my Commission because there was a date when this house was sold for a million we've all shared the pain was the prices dropped I've already had to reduce my commission just because we're selling for less does that make sense and I'm not going to work less hard for you because of the market I accept work harder okay well I mean I've talked to some of the your competitors there's a lot of hungry agents out there right now that have literally you know how it is when you're listing expires I mean yeah you know they come out of the woodwork oh yeah a lot of them have dropped paperwork on my doorstep never even called me instead I'll sell your house for free to have percent yeah I know so I kind of feel that might be I might be given a little bit away I just wait and negotiate with some other Realtors I could probably get a better price are you willing to adjust your price yeah great question and I'm not willing I can't I just can't afford to do it can I tell you I think you're in the best term I'm gonna give you the best service I'm going to use all of my skills all the marketing that you did exposed all the qualified buyers I'm going to be working for you every day out looking for buyers for your houses I seen in the market that I sent you okay now I'm sitting here tonight have you met with any of those other three and a half percent people no I talked to one of them on the phone and you understand the concept you get what you pay for right yeah you get what to pay for my job is just in the strength of my negotiating the same way I have the courage to stand up to you regarding my own value was the same strength that will have been standing up for your home and negotiating with other agents and buyers regarding the value of your home to protect equity because that's what you want right yeah so else so the the other thing is that you telling me that you're going to come in here I'm going to lower the price to a price that's going to make it sell quicker right correct and we may have multiple offers but we may have tripped okay so if I'm taking and lowering the price so that we're going to have offers real quick right let's say we sell it in the first week let's see two weeks in two weeks okay would you be very realistic possibility okay that means less time you've held the listing less time you've got advertiser to market it right will you write a clause in there that if you sell it in within two weeks that you'll reduce the commission time for killing me so let me get this right if I actually do what you're hiring me to do which is get you to Park City's faster with the money in your pocket you may take less well let's go yeah it's just a question it's a great question the reality is if I actually do the job you're hiring me to do it do it faster that's better for you guys right yeah I'm going to be extremely aggressive as you've already seen I'm going to be extremely aggressive getting your home sold faster I work harder to do it that way I work stronger to do it that way that's me doing my job that's what you're getting for my services and I'm going to protect your equity each of the best terms are prosecute you the most money in your pocket possible and most importantly Jessie I'm going to get you that you talk with your husband yeah well that'd be great great then if everything is ready all I need you to do is just and this right here we'll sign the contract and I'll be ready to get you in Park cities well do you think we should talk about it we usually do at least one night I think that what we're going to probably want to do is sit on okay no it's a big decision yeah it's a really this is not what we expected right right chicken you see watch reality yeah yeah that's a little bit great so obviously you got to think about it what are the main things we're thinking about I mean it seems to me out there's really three things we got to think about number one is whether not you're selling do you need to think about that at all no okay how many definite self yeah the second thing obviously that that homeowners like your so have to think about is what is the price and I think we're pretty well in agreement even though obviously it's not what you like right I don't like it either believe me I'd rather sell it for a million okay but we the decisions pretty well been made that is the right price correct things that can we get some action and thinking about it's not going to really change the reality the market right right okay and I'm just you know all I'm trying to do is just look at this and I hey what's really need to happen here crap and then obviously the third and most important decision at this point is is do you want me to handle the sell for you making that decision of am I the right agent for the job correct that so now it is yeah so besides decisions may yeah congratulations thank you sign right here time

Channel: Kevin Ward | YesMasters - Real Estate Agent Coaching and Success Training

Views: 334,084

Rating: 4.857872 out of 5

Keywords: Kevin Ward, kevinnow.com, real estate agent training, real estate experts, real estate coaching, real estate scripts, real estate prospecting, real estate mentor, real estate leads, lead generation, real estate presentations, objection handling, overcoming objections, how to get listings, youtube real estate, real estate marketing plan, dinwitwin, yesmasters.com

Id: VJ4owPsgN1A

Length: 28min 27sec (1707 seconds)

Published: Thu Nov 24 2011