Inventory Reduction Squad

"Mr. & Mrs. Seller, as of today we have been on the active market for several weeks.  During that time you've been great! You have had the property in showing condition at a moments notice, thank you for all your hard work!  And while I have consistently implemented our original marketing and networking plan; our showing activity, open house traffic as well as web hits have declined significantly in the past few weeks.  I know that we adjusted our price a few weeks ago, and I'm going to update our market snapshot this week to see how we're positioned.  However, in addition to our market review, I would like your permission to call in the IRS!"
With our current listing inventory at record highs coupled with a decrease in the buying population, we are experiencing longer market times and a higher percentage of expired listings. Certainly an EXPIRED LISTING is NOT the outcome you and your sellers set out to accomplish!  If you have a property that has been on the market beyond the average market time associated with the area and the specific type of property, and you're looking for some unbiased insights from your peers, then perhaps you should participate in an Inventory Reduction Squad.
 

The mission of the Inventory Reduction Squad, is to give the listing agent unbiased objective feedback, along with a fresh perspectives and marketing suggestions, ...with the ultimate goal of placing a SOLD sign on the property!
 
How Does the IRS Work? Each Inventory Reduction Squad is made up of five agents:  Their joint mission is to preview five active listings, none of the listings belonging to an agent in the squad.  They collectively offer insights, perspectives, marketing and pricing suggestions relevant to what is it going to take to successfully sell the property.  Within the squad, each agent has a unique responsibility.  This distribution of the workload, helps the efficiency of the tour.  Each 5 agent Inventory Reduction Squad is made up of the following cast of characters: The Coordinator, The Navigator, The Seeker, The Scribe and The Driver.     . 
 
The Driver  Vehicle should be large enough to accommodate five adults and should be fueled and ready to roll prior to the beginning of the tour. The Driver works with The Navigator to safely accomplish the mission.
 
The Navigator begins by working with The Coordinator to determine the best route for the five properties. During the tour, The Navigator rides 'shot gun' assisting The Driver when needed.
 
The Coordinator prints out the five properties, works with Navigator to determine best route and timing of the showing. The Coordinator then sets up and confirms the appointment through our front desk, identifying that it is an in-house tour.
 
The Seeker This agent's role is to keep the squad focused on the specific property; seeking and stimulating ideas and conversation relevant to the properties strengths and challenges.
 
The Scribe records the feedback and suggestions on the property being toured. Legible handwriting is a requirement as the report will be passed along to the listing agent.
 
BTW: With the current cost of gasoline, it's asked that each agent in the squad toss a couple dollars to The Driver.  Thank You!  
 
How do I submit a property to be reviewed by an Inventory Reduction Squad?
Sign Up!  In both offices you will find an area with a current list of our active inventory sorted by office, then by agent.  You'll also find any number of Inventory Reduction Squad Sign Up Sheets  that have been started by various agents who have a property that they would like to have reviewed by a squad.

Signing up is simple!  You sign up for one of the squad positions in the left column.  Then you fill out the information in the right column; The area, MLS number and the address of the property you would like reviewed.

By submitting a property to be reviewed by a squad, you also agree to be a part of a squad reviewing another agent's listings.
 
When is the deadline to sign up?
Sheets will be collected through out the week, with Monday at 3:00 being the final deadline for the Tuesday Meeting Squad Assignment. 
 
How do I know what properties I will be reviewing?
After a sign up sheet is turned into Paul, it will be logged into a spreadsheet, copied and separated in half. (If you look at the IRS sign up sheet, you'll notice the grey line between the agent roles and the five properties.)  The following Tuesday, at the business meeting, we will have each squad randomly select a grouping of five properties from the current pool of requests.  Keep in mind that a squad will not be reviewing their own properties.
 
When will we be reviewing the properties?
Rather than mandating that it must be done office wide on a specific day and time, we decided to leave it up to each individual squad to determine and coordinate when they will be reviewing the five properties assigned to their squad.  Keep in mind that the review should happen during the current week and be completed prior to the next Tuesday Business Meeting.  It's recommended that the squad meet right after the business meeting to select a date and time.
 
How do I set these properties up?
Once the date and time slot of the property review has been agreed upon by the squad, The Coordinator will work with the Navigator to determine the best order and the timing.  From there The Coordinator will turn in a copy of the list onto the front desk with the date and times of the five previews.  The front Desk will contact the seller and set it up as A PREVIEW (not a showing).  Once confirmed, the front desk will notify The Coordinator.
 
Please Note:  For the initial roll out of the IRS, please set up your previewing utilizing our day staff in the respective office.