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3 P's To A Successful Listing Presentation: Price, Product, & Promotion

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July 05, 2007 04:26 PM

What are the keys to a successful listing presentation on today's real estate market when working with a potential home seller?

The 3 P's (Price, Product, & Promotion) are the simple answers to your listing presentation fears.

Price: By far the most important aspect of a successful listing presentation is having the seller price the property accordingly. Make sure to pull the comparable properties from the past 6 months and make up a excel spreadsheet and show the seller the total price reductions, days on market, average commission paid to the selling agent, average price for active listings, and make sure to show the average price reductions from the just listed period to current asking price. Your goal is to get your seller to price the property at market value. Do not take an overpriced listing in today's market! You will only be waisting your time and money. Work with motivated sellers that listen to your expert advice and allow you to do your job.

Product: Product is the home itself. Make sure your product is marketable. Recommend to the seller that his/her home should be home staged. Show how a little paint and the moving around of furniture can gain more offers from potential buyers and get more money for the property. Remind your sellers that there a lot of competition on the market, and buyers are looking for clean and upgraded homes to move into. They do not want to purchase homes that need work. As a result, sellers must do some of the improvements in order to make their home stand above the competition. Also, discuss curb appeal and how the exterior of the home should be manicured and impress the potential buyers before they even enter the home.

Promotion: After getting your seller to price the home according to current mark conditions and making the home in the best showing condition both externally and internally, now it is time to implement a flawless marketing campaign to truly expose the home to the masses. With the National Association Of Realtors stating that over 81% of home buyers find their homes on the Internet, it is a must to place your property all over cyberspace including Craigslist.com, Backpage.com, Google Base, Active Rain Blogs, and especially on Realtor.com. Print marketing has taken a step back to online real estate advertisements. Buyers simply can't ascertain as much information from a line ad in the newspaper or one small picture in a magazine. The Internet has open the buyers' horizon to virtual tours, property details, and lots and lots of photos. So, make sure you invest in an enhanced membership on Realtor.com. You will receive more buyer leads from this medium and truly expose your property to the most popular online real estate buying website: Realtor.com

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Comments (11)
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Dawn Workman

Veracity Real Estate Group, LLC - Camas, WA

Camas Real Estate Expert, MBA, 480-540-8100

Oh, it is like a marketing class! I love marketing.

I receive the email flyers, and would love to hear how they are working for agents!

Jul 05, 2007 04:34 PM

Toby Barnett

KW North Sound - Marysville, WA

Toby Barnett

what about the 4th P, Place?

Jul 05, 2007 04:34 PM

Scott Morrison

Call Realty - Chandler, AZ

Arizona Real Estate Expert

Great Blog Michael. Out listing presentations cover similar topics. To begin our presentation, we ask the seller what they want in the sale of their home. The conversation generally turns to selling the home for the best price, in the least amount of time and with the least amount of hassle. We then use these three ideas as the groundwork for our entire process. When a concern or objection arises, we can go back to these. Also, if the seller wants to list the home for to much, we can go again back to these three ideas to help them understand the importance of listing at the right price. We have used this approach for 6 months or so and have had incredible results.

Thanks for the additional ideas.

Jul 05, 2007 04:56 PM

Provadus Home Loans

Provadus Home Loans - Marietta, GA

Technology bringing you home.

The 3 P's are the P's to live by in this industry. I certainly agree. Great Post!!

Jul 05, 2007 04:58 PM

Michael Citron

Web Email Flyers - Plantation, FL

Hey Scott! Another quick suggestion when meeting with your sellers is to ask them a few questions before you start showing them your listing presentation. Some questions that I ask are:

At the end of the day, what would you ideally like to see happen with your home sale?

What are your real estate goals? Are there any areas that are of particular interest to your in terms of marketing or preparing your home for sale that you would like me to focus on?

Do you think now that my services here help meet your goals and expectations?

If my marketing plan looks like what you are looking for, is there anything holding you back from moving forward today?

Asking these questions will tell you what areas of your listing presentation to focus mostly on. If the seller is all about pictures and real estate websites, make sure to show examples of your MLS listing filled with colorful digital photographs and all of the websites that you advertise your listing on. Good luck.

Jul 05, 2007 05:06 PM

Cindy Jones

Integrity Real Estate Group - Woodbridge, VA

Pentagon, Fort Belvoir & Quantico Real Estate News

The 3P's are the basics for all good marketing. I mentioned them in a similiar post back in June Help my house isn't selling. I found that the email flyer campaigns to other agents to be ineffective. Most agents pushed the flyers directly to their SPAM folders and never even looked at them. My listings are on-line everywhere and buyers & sellers do notice.

Jul 05, 2007 11:16 PM

Margaret Woda

Long & Foster Real Estate, Inc. - Crofton, MD

Maryland Real Estate & Military Relocation

The simplest listing presentation I've seen - maybe the best! Although I remember another agent tell me, as she watched me scaling back my listing presentation, that she thought the reason I got so many listings was because people signed just to shut me up so I would go home and they could go to bed. LOL. The three P's definately would not have that result.

Jul 05, 2007 11:37 PM

Michael Citron

Web Email Flyers - Plantation, FL

I truly believe in sending real estate email flyers. With a plethora of listings on the market, especially here in South Florida, agents have to click through dozens and dozens of pages on our local Multiple Listing Service. Send out a property Web Email Flyerto thousands of local agents will "create a buzz" on your property listing. It's a numbers game just like cold-calling or farming. The more real estate agents that can view your email flyer on your property listing, the better chance that someone will want to show your property.

More showings = A Sold Sign On Your Property

Sending Web Email Flyersalso gives credibility in your online marketing techniques that will impress your sellers and show them that you are using the most up-to-date, cutting edge advertising tools in order to expose the property to the masses. With over 90% of home buyers using a Realtor when buying a home, what better way then to target your fellow real estate professionals. Again, the more agents that view the property, the better likelihood that you will receive more showings on your property listing. Our listing will not just get lost in a sea of other properties on the MLS and you will stand above the competition. It is also a great listing tool to offer your clients during your listing presentation.

Please visit: www.WebEmailFlyers.com for more information on this effective marketing technology

Jul 06, 2007 01:09 AM

Michael Citron

Web Email Flyers - Plantation, FL

I also believe that the 4th P in an effective listing presentation should be: PowerPoint!!

Impress your sellers by bringing your laptop computer and animating your presentation. It will again show your sellers that you are using the most current and up-to-date marketing techniques to sell their home.

Michael With Web Email Flyers

Jul 06, 2007 01:13 AM

Donna Yates

BHGRE - Metro Brokers - Blue Ridge, GA

Blue Ridge Mountains

Great advice but the best advice in my opinion is be yourself. Do what works for you and be comfortable. If you are at ease, your sellers will automatically sense that and be at ease. Take heed of all the different strategies and tailor them to what works best for you. Put yourself in the sellers place and think about what it is you would expect from a Realtor during a listing presentation. I thought listing presentations were something to really be afraid of, not anymore. Just know your facts, be able to back up what you say and don't try to be something your not. Works for me.

Aug 07, 2007 07:30 PM

Kevin Wright

San Jose, CA

Nice Post! And I agree with Michael the fourth P should be PowerPoint. A lot has change over the years and so has the listing presentation. You should mix things up and stray away from the conventional presentation to seperate yourself from other agents. Many agents are now doing the listing presentation in powerpoint. If you get a chance please check out http://prelistpackage.com They have a lot of useful tools, templates, tips and scripts to make your job much easier during the listing presentation. Thanks for sharing!

May 17, 2011 06:21 AM

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