Have you ever wondered how sellers evaluate your services vs the competitions? You may be surprised.
Recent studies.....when haven't studies been recent? By NAR showed some very interesting data.
Can you answer these questions?
- Do you think your appearance counts?
- Do you think your interaction communication means anything?
- What about if you have a laptop with you or just a yellow paper pad?
- How about if you have a website?
- Does your presentation with a notebook flip chart matter or is a PowerPoint presentation mean more?
- How many homes you have sold make a difference?
- Education, does your real estate education or college mean anything to sellers?
- What are commissions charged does that mean more, knowing what they have to pay for your services?
- Length of contract maybe that is the key not as long or is it longer than others?
- Advertising, you do more advertising, you do less but in key markets?
We build our answer one step at a time.
It is amazing that most of the things that Realtors think are important are not as important to sellers. People usually list with the first agent they meet! So does appearance matter? Well if you had a greasey shirt with holes in your jeans that may not get you the listing.
They also prefer someone they can talk to, that makes them feel comfortable. Almost all agents are outgoing and pleasant, until they get the listing! That's my line, I like it too!
Does it matter a laptop vs a yellow pad? Not really....but it is starting too.
Does it matter if you have a website? This is starting to become an issue as well. If the company website is good and you have an email you may not need a website but the future of your business may require one so you can separate yourself from everyone else.
Does your presentation have to be a laptop or will a notebook "flip chart" work? The truth is I use both. Why simple some of the clients have no clue about laptops, computers and it is a distraction to them.....so I use the "flip chart" with equal success. So this is your call. I personally use my laptop 90% of the time and it is faster, easier for clients to understand and I say less, since the PowerPoint presentation has an audio overlay.
How many homes have you sold make an impact? It does for me because I share the information....for new agents wow them with other issues and usually the subject never comes up. And please don't tell them that stupid line they use in Real Estate School, "I am "new" so I can devote all my time to your listing. The other side of the coin is you are new and you are going to learn on my listing? NO THANK YOU! So make your presentation like a pro and sell the listing presentation.....then sell the listing!
Education, does it make a difference? I make sure they know what my designations are and that I have multiple college degrees in marketing and finance. Both are very relavent to real estate. Does it really make a difference? No 90% of the time the subject never comes up. They assume you know what you are doing and are trained to represent them properly.
Commission have been under seige with discount companies, flat rate brokerages and self sell FSBO options, so yes there has been some pressure in this area. Will it be a deal breaker for the listing? That is up to you. I just listed a property for 1% higher than my previous competition, why? It was going to be difficult to sell and I knew I would be spending more in advertising costs. I posed this issue to my potential client.....do you want to sell? Answer..YES. Do you want me to use every possible media outlet to expose your property to buyers? Answer..YES, again. My commission reflect marketing your listing so it will sell. If we cut corners on marketing your property will have the same result the last agent that represented you had.....no exposure and no sale.
Length of contract terms, doses this make a difference? It can, if you do not follow the DOM's and your listing is to short you are not going to sell or you are going really adjust the price structure of your listing to stay on the front edge of the market to keep the showings up.
Is advertising an issue to get a listing? I have a written marketing plan that I share with the potential client. They know what to expect and I keep them informed with emails and phone briefs. This market is different to many others and you may be quized on your marketing plans in more detail than in the past. Be ready with answers...that are more than we use a yard sign and put you on our vast or extensive website, you will be featured......yata yata and they may say call me when you have a marketing plan.
NAR has all the figures I just put this together in layman terms to focus on the key issues that will get you lisitng. You still have to price them right to sell them. Do not take over priced listing unless you have a lot of wealth and wish to dispose of some of it. Because buyers are looking at more homes before they are signing a contract. They can easily see that the listing is over priced by just looking at the MLS readout and making comparisions of the features and benefits.
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I am pleased to be the first to comment on you post. You have brought to the forefront some serious concerns any intelligent seller/buyer may have. As professionals we must be proactive. We must anticipate the questions a prospective client may ask and always be adequately prepared.