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Li
Lipsey School of Real Estate2011 Systems for Success
Presented by
Mike Lipsey, MCRE
Module 5 Selling By Phone5.1……….…………….……..……Target Marketing 5.2……………….8 Strategies (Selling by Phone)5.3………………………..……….Engage Prospect
Module 5: Selling by Phone
Target Marketing
5.1
Identifying Target Market
Macro (Prospecting Pyramid) Industry Property Type Requirement
Micro (Market Specific) Target Sub-Market Overall Understanding
Prospecting Pyramid
Tier 1 – Base Industry / Market
Tier 2 – Macro – Sub
Tier 3 – Micro – Sub
Tier 4Target Rich
REIT
SouthwestUnited States
Office
Seeking> 100,000
5.1
Creating A Database5.1
Creating A Database5.1
Research
Getting Past The Gatekeeper
Introductory Benefit Statement
Transition
Run Clear
Open Probe / Closed Probe
Set The Meeting
Prepare For The Meeting
1
3
4
5
6
7
8
2
Selling By Phone5.2
1 Research
Using All Available Resources
Company Website – Personal Bio Google – Internet Brower Market Information Relative News / Current Events
Business Journal, Local / National News Paper Real Estate Specific Subscriptions
CoStar, LoopNet, RCAnalytics, etc.
5.2
2 Getting Past The Gatekeeper
Creating A Purpose
Recently Sent Marketing Information Sending Thoughtful Small Gift (Relative Book or Market
Information) Common Interest (Association, Community
Involvement, etc.)
5.2
3 Introductory Benefit Statement
Customized Industry Benefit Statement (CIBS) Statement Specifically Incorporating Prospects Practice
“I’ve noticed that you’re goal is to become the market’s leader in customer relations. Through practice, our team has increased client’s customer efficiency through additional locations.”
Individualized Industry Benefit Statement (IIBS) Statement Specifically Incorporating Prospects Industry
With recent technological advances, we’ve seen multiple retailers increase their logistical operation.”
5.2
4 Transition
Through Prospect Interest
Use Questioning Techniques to Transition
Perform Step 5 (Run Clear)
Step 3 TRANSITION Step 5
5.2
Resource Urgency Needs
R U N
C L E A RCauses Loyalty Expectations Authority Revenue
5 Run Clear
Rating Your Prospect (1 – 5)
5.2
Run Clear (Client Worksheet)
RResource
UUrgency
NNeeds
CCauses
LLoyalty
EExpectations
AAuthority
RRevenue
5.2
6 Open / Closed Probe
Open Probe Strategic (OPS) Open Question Specific to Business Practice
Closed Probe Strategic (CPS) Closed Question Specific to Business Practice
Open Probe Tactical (OPT) Open Question Specific to Real Estate
Closed Probe Tactical (CPT) Closed Question Specific to Real Estate
5.2 / 5.3
7 Set The Meeting
Closing Techniques
Invitational Alternative Assumptive Next Step Similar Situation Hot Button
5.2
8 Prepare For The Meeting
Demonstrate an Understanding and Interest of Prospects..
Industry Industries Current State Innovative Practices
Real Estate Characteristics (SF, Dock Doors, Demographics, etc.) Sub Market Statistics Space Alternatives Acquisitions / Disposition Advantages
Personal Interests Association Involvement Area of Excitement (Athletics, Alma Mater, etc.)
5.2