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5 Steps to a Great Listing Presentation
by Dr. Martin Oliver This article is based on interviews with some of the 175+ iSucceed Mentors. iSucceed is the nations largest online real estate mentoring service and has a knowledge vault of over 300 hours of money-making tips and industry secrets. To be considered as an iSucceed Mentor contact Kelly at KKelley@iSucceed.com. For a 14 day free trial visit www.iSucceed.com and use the promo code RIS Media. Introduction Many a real estate agent has stumbled a time or two when it comes to delivering a listing presentation. As a result, the very thought of doing another listing may create feelings of dread and apprehension. To find a solution that any agent can use, six top-producing real estate agents, all iSucceed Mentors, were interviewed. They are:
Below is a condensed and simplified version of their vast knowledge that lays out a basic step-by-step one-appointment listing presentation plan. 1. Prelist Packet To prepare your home seller for this appointment, mail the prelisting packet early. Make certain that it arrives at the seller’s home 48 hours prior to your arrival. Then confirm by telephone your appointment date, time, the packet’s arrival, and your need for a copy of their title insurance policy. PreList Package Should Include
2. The Appointment Be certain to arrive on time and plan on staying one-to-two hours. Start by introducing yourself and your company. Use sincere compliments about the house to relax the home seller. Begin to establish rapport by looking for common-ground topics to talk about. Once the seller is relaxed, ask to tour their home. During the tour make notes and complement amenities that you observe and mention value-enhancing home features. Measure the room sizes using an electronic tape measure, which indicates that you are high-tech and up-to-date on technology. When you are finished with the tour, ask if it would be acceptable to review the prelisting packet you sent while sitting at the dining room table or kitchen table. Never use the living room because this environment is too relaxed and casual for a business discussion. Most prospects brace themselves for the sales process negatively simply because they don’t want to be SOLD, but they do want to be HELPED. Ease into the process by saying: “Before I show you what I can do for you, I need to better understand your needs.” Then transition to a needs analysis form, which you can create yourself beforehand. Ask them pertinent questions and write down their answers. Find out why they are selling, where they want to move, and if there are any time deadlines that you would need to be aware of. Upon completing the needs analysis, review it with them out loud to insure that you have not missed anything. This review gives the seller the assurance that you were listening to what they said and that you are aware of their needs and wants. 3. The Presentation Briefly review the prelist packet with your home seller one document at a time. To create a smooth presentation flow, the actual listing presentation should be rehearsed much like a script for a movie. Remember, the more familiar and relaxed we are with the contents of the package the more relaxed the home seller will be upon hearing it. When talking with your seller stay on the talk key points without getting
into too much detail. An exception is when you are talking about every marketing
tool you will use to sell their home. For example talk about the following
tools: 24 hours per day internet exposure; newspaper ads; yard signs; postcards;
telemarketing; letter writing campaigns; open houses; national MLS coverage;
home magazines: network marketing among other agents and colleagues; 360 degree
in-house internet tours.
Many iSucceed Mentors suggest that you have your commission rates preprinted on your listing contract. Use the “alternate of choice” close approach giving them choices as to what they would like to pay in commission. Show a full range of commission rates going up in percentage amount starting from your standard rate. Circle your normal percentage as the lowest and as your suggestion for their choice. If the seller objects and asks you to discount your rates, explain that discount commissions mean discounted services, which equate to houses not selling as quickly as they should. Length of Listing Contract: If the home owner is not in agreement with your length of listing time on the contract, use a pyramid example to help them see the financial benefits of listing for a longer period of time. Draw a pyramid and write $300,000 at the top and the words “least amount of work and time.” At the bottom write $450,000 and then write “most amount of work and time.” Tell the homeowner that if they want to lose a large portion of their potential profit, and sell their home at discount, then you can list the home for a minimum time and sell it at discount. If however they want top dollar and your broker’s full commitment to the use of every marketing vehicle, then a normal listing contract term based on the seller’s geographic area and whether it is a seller’s or buyer’s market is appropriate. 5. The Final Close At this point in the prelisting presentation you should be ready for a final close and the signing of the listing agreement. Ask the home seller if there are any other questions that they have before they sign the listing agreement. If they have questions, don’t ignore them. Kindly and thoroughly answer all questions. Then give them the documents they need to sign with a pen and with signature places highlighted. If the home owner says they want to think about it, acknowledge that you have felt the same way and that you understand. Then ask them what you may not have properly explained, that might be causing this delay? If they say that you have done a good job of explaining but that they are just not sure, then try to uncover the reasons for their delay. Ask the home seller questions like:
Things Agents Should Avoid
Not every home seller may be right for you. Don’t submit to feelings of condemnation when making a decision early in the game to pull the plug and to move on to other home sellers. Remember, you don’t need every client, but rather the right client and enough right clients to consistently win. |
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