You Might Have Gotten Lazy
By Walter Sanford
My clients joke that I do not waste words. Years of increasing prices and enthusiastic sellers and buyers have caused you to focus on the signature rather than the quality of your listings!
EVERY HASSLE IN REAL ESTATE CAN BE CURED
AT THE LISTING PRESENTATION!
What are some of the major goals of a great listing presentation? Many agents have forgotten what appreciation has done to their income. In the "good 'ol days," selling a $100,000 house was a big deal. Now in many areas, $500,000 to $800,000 homes are not unusual.
You have to remember that a $30,000 commission, the bragging rights of the acquisition of the listing, the buyers that the sign and internet portals develop, the inquiring additional sellers, and the follow up of those relationships over the years can create six figure increases in your net worth! Shooting from the hip at a listing presentation, just does not work any more.
Here are some of the major sign posts on your way to the best of the best of listing presentations:
Beating the Competition Every Time
My sellers were always been impressed that I asked more questions about their needs than the competition. In fact, how can you change a client's life if you do not know exactly what they are trying to achieve? By asking more questions up front, you know who you are up against by way of competition. If you can beat the competition, bring the MLS stats. Also, the client is going to appreciate that you cared about their needs. Once you find out about their needs with my pre-counseling questions, you will be in a better position to bring client-pleasing outcomes to the actual meeting.
Motivation of the Seller Allows Them to Flex With the Market
Many cities in the United States and Canada have seen the market slow - some massive, some just starting. Sellers need to be flexible with changing markets. The only seller who is truly flexible is one who has a goal that needs to be accomplished. Clients with unclear goals tend to spend less time being pre-counseled and answering questions. The proper counseling questions immediately determine whether or not the client is realistic. Many clients find it difficult to disclose their core motivation and initially require many well-planned, follow up questions to let loose of their inner-most desires of why they want to sell the home.
By knowing this core motivation, you can consistently remind the client of the end goal. Though the road might still be rocky, it will now be worth the ride. My pre-counseling was done by way of an initial phone interview then attached E-mail questionnaires and even a private spot on my website. This exclusive area of my website was set aside for sellers to review and submit their answers which were planned to disclose their motivation.
The Signature Means that You Have Shown the Client that You Care the Most
Agents who ask the most questions obviously show they care most about the client's outcome. Clients certainly appreciate this concern. This can be enhanced by consistently reminding the client, "Before I can develop a customized marketing plan, it is important that I understand exactly what you are trying to accomplish." A great listing presentation will always leave the impression that you have put the client in front of the commissions.
Under-Promise then Over-Deliver
A great listing presentation is filled with high-value perception items that do not cost a lot of time or money to accomplish. My listing presentation included over forty of these high-value perception items like innovative search engine strategies. When you spend less money and time in achieving a client's goal, you increase your net, which, of course, is important to obtain the savings account balance that you will need to make down payments as real estate becomes more affordable in your area!
Real estate agents who understand that 95% of marketing is how you price a home have to be able to make a winning listing presentation without promising thousands of dollars in expensive items. Remember, the internet took over print advertising approximately five years ago. The only reason that we used to spend so much money on print advertising was because your old, tired listing presentation did not turn your seller into a raving fan. By promising less expensive items than the competition, but delivering low-cost, high-value perceived items, you will find that it is easy to exceed your seller's expectations and have a higher net for yourself.
Market Commissions Mean Net Profit
One of the remnants of the exuberant market is that sellers have been conditioned to ask for and expect less in the way of commission cost. In tougher markets, clients scream for professionals who can achieve the client's goals. Professionals charge professional fees. My listing presentation demonstrates over ten ways in which you increase a seller's net like "post-listing inspections."
Increasing a seller's net is the true method of proving your value. Many speakers teach cute quips in response to commission-reduction requests. The true professional proves their value by increasing their seller's net proceeds. Agents need to know how to go through the seller net proceeds enhancement discussion, prior to a client agreeing to pay full market commissions.
Listings As Your Number One Buyer Generator
All across the country, my clients are screaming for more buyers and are finding that listing acquisition is the most effective and least expensive method of finding more buyers. Therefore, job number one in a tough market is the acquisition of more listing leads. A more effective listing presentation to make your inventory not only increase by numbers by also increase by profitability is how to accomplish this task.