The Listing Presentation
We all have different tactics for generating and securing leads that turn into a listing appointment.
As a co-founder, coach, author, and an active agent still selling real estate, I want to share some thoughts and ideas that I am confident if used, will help you take more listings.
There are many parts of the listing presentation and I’m going to break it down into three parts that I’ll write about over the next few days.
The first step is being prepared BEFORE the appointment. Being prepared ahead of time will give you the knowledge and confidence it takes to get the listing signed when you meet with the seller.
Now I realize a lot of you may have been taught and are practicing a two step listing presentation. You go see the house, hope to build rapport with the client, then go back prepare your market analysis and show up for a second appointment to hopefully get the contract signed.
My question to you is why? With yours and the client’s time being one of the most valuable things you both have, why would you want to waste time going twice to do what can be accomplished with one appointment?
Guys, lets face it, we really don’t NEED to see the house in order to prepare a market analysis. The factors that mainly determine the value of a home are the number of bedrooms, bathrooms, the square footage, age, style, and location. I know, yes, the condition does matter. And if you’ll take just a few minutes BEFORE you go on the appointment to ask the potential seller a few questions, you can get all the answers you need to prepare a market analysis and be ready to discuss price with them on the first appointment.
I’m sure I don’t have to tell you that really all the client cares about is how much can you sell my home for? What will you do to get my home sold? And, how quickly do you think it will sell? ;
If the client can know the price right up front on the first appointment, trust me, that’s what they want. So, before you go out either when you’re setting the appointment or the day before, give them a quick call and ask them some questions to help you prepare. Most of this can be obtained through tax records as well and it’s a good idea to verify the information with the client ahead of time.
I’ve discovered that the more questions you ask the client, the better chance you have of taking the listing and the more in control you’ll be of the entire situation. When you go to a doctor or a lawyer, don’t they spend most of their time asking you questions so they can best help you? As a professional Real Estate Agent, handling what is mosts largest single investment, don’t you think asking some questions would be a good idea?
In coaching, I teach my clients exactly what questions to ask and HOW to ask them. When asking the right questions in the right way, it’s possible to gain instant rapport with the client right over the phone before ever meeting them. A few of the questions are:
1. Tell me a little about your home.
2. Have you done any recent repairs or improvements that you feel will be important for a buyer to know?
3. How would you rate the overall condition of your home?
4. Do you have a price in mind that you are hoping to get for the home?
5. Why are you thinking of selling the home?
You can use these, add to these, develop your own, or I have a scripts CD offering the exact questions to ask while teaching you HOW to ask them as well. This can be purchased from our website at www.yourethedifference.com.
It’s called How To sell over 100 homes a year sales package scripts CD. It’s $49.99 and also gives you scripts for calling expired listings, FSBO listings, past clients, just listed, just sold, and how to convert sign and ad calls to buyer leads.
When you take the time to ask the questions ahead of time you’re showing the client that you are investing time to find out what their needs, wants, and desires are. Preparing for the appointment ahead of time also shows professionalism above the competition.
In addition to being able to powerfully present the market analysis specific to their home, you should also know your overall market statistics. This puts you in a place of power and confidence while proving to the client that you know what you’re doing, giving them confidence in hiring you.
Know at least the following statistics about your overall market. In most cases you can discover this with the click of a button on your MLS system.
1. How many homes are for sale?
2. How many homes have sold year to date
3. What’s the average sales price of what’s moving in your market?
4. What’s the average number of days on the market for a home to sell?
5. What’s the average list to sales price ratio?
While you may not think it’s so important in determining the value of their home, again, it shows that you know what you’re doing. And, the statistics actually do have an impact on their home because it’s what your area market is doing.
Always set the appointment in a fifteen minute time period so you don’t have to stress and worry about being there at an exact time. Tell them you’ll be there between 2:00 -2:15. When you are on the way, give them a call to let them know you’re on the way and looking forward to meeting them. The more you talk to them ahead of time, the more comfortable they will already feel with you when you show up.
Before you go on the appointment, spend some time practicing and role playing your presentation. Review the market analysis in detail so when speaking with them you are confident about the numbers. Take a moment to visualize signing the contract, putting the sign in the yard, and taking the listing. If you think you will, you will.
And last, rehearse handling objections. You know you’re going to get objections, so be prepared to handle them. Take some time to write down the most common objections you face when on a listing appointment and come up with some answers ahead of time that you can use again and again.
When you don’t have to think of answers on the fly, you’re much more likely to answer their question with professionalism and confidence leading to more listings taken.
If you haven’t already, I invite you to check out our Now What Do I Say? line of products where we answer more than 70 of the most common questions and objections that you’ll face in the entire real estate sales business with more than 420 answers. We have the published book, the book on audio, and a live role play CD where we demonstrate not only WHAT to say but HOW to say it when faced with objections. You may purchase these from our website as well, www.yourethedifference.com.
In the next article, I will talk about the actual listing presentation and give you more thoughts and ideas on what to say while you’re on the appointment.
Please let Scott and I know if we may be of support to you in any way.
I hope you are on track to making 2010 YOUR year!