Seller Appointments – Are You Getting The Listings?

What do you know about the seller’s motivation before you meet?  If your answer is, “Not much”, you’ve probably lost the listing already.  In your initial phone call or email to schedule a meeting with the seller, ask questions about his reasons for selling.  Take time to chat and learn about his motivation.  For instance, what is his urgency in selling?  What specific concerns does he have?  What are his expectations?

Now you are ready to collect the necessary information and gear your presentation to your prospective client’s motivation.  Here is your homework before the meeting:

• Get tax records

• Do a drive-by photo

• See if the property sold in past MLS records

• Do a preliminary Comparative Market Analysis – obviously you have not seen the interior and do not have all the details, but you can have a CMA that is broad with a price range.

• Assemble examples of your marketing materials- remember to include all the services you offer.  Clients are not in the real estate business and what may seem mundane to you will not be automatically assumed by the client.

• Make a few notes re properties that you sold for clients that had similar motivations to sell. 

The presentation itself should be personal and not a canned “dog and pony show”.  Know your own strengths and be comfortable sharing the resources you have.  Even if you are new to the business, you have the resources of your broker or mentor. One note of caution in being “personal”, however, is to remember that you want to be perceived as a friendly, personable PROFESSIONAL.  Your prospective client is not looking for a “buddy”, but a real estate professional who is friendly and will help them with possibly the largest financial transaction they will ever deal with.

Present yourself as a consultant ready to address your client’s needs.  Ask questions so that you don’t harp on a list of services that the prospective client is not interested in.  Don’t revert to being a “hard sell” sales person.  Your final question of the meeting should be, “Have I addressed all of your questions or concerns?”  Now, pause and let him answer!  Often there is at least one last concern that a client is hesitant to mention earlier.

Try to be the LAST listing presentation.  It might not always be possible, but you can try by letting the prospective client know that you like to be able to answer all of his concerns and he may have additional questions at that point.  There are several advantages to being the last agent meeting with the seller.  At that point, the seller has learned more questions to ask and has seen what other agents are offering.  He is more comfortable in discussing the property and the sale.  He will feel comfortable making an on-the-spot decision to list with you because he knows he has all the information – there is not another agent meeting with him.

Once you’ve heard the seller’s questions, shown how your services will address specific needs and concerns, and gotten all the information you need about the property, ask for the listing.  Don’t assume the seller knows that you want the listing – assure the prospective client that you are ready to sell his home and ask for the listing.  A bit of advice at this point – if the seller is not ready to list with you, do not leave your CMA with him.  Offer to refresh his memory with the facts you collected if he wishes to call you later. There is no reason for you to leave your research with him to be used in a FSBO or by another agent.  Tell the seller that you will follow up with him to see if he is ready to make a decision and offer your assistance in the meantime.

After your presentation, update your database with the seller’s information.  Track the results of your meeting.  If you did not get the listing, politely ask the seller what the other agent offered that prompted this choice.  Follow the listing every month to see if the property sells.  If the listing expires, you can contact the seller again.  If you consistently lose listings, your follow-up will gather helpful information in knowing why sellers decided on another agent.  Perhaps you need a change in your presentation, your marketing materials, or a service you offer.

But don’t worry – if you need advice and assistance with putting together an improved presentation, or follow-up with sellers, there is help available!  Scheduleacall with Steve Kantor, President, Best Agent Business to discuss the many services offered to improve your presentations.  BestAgentBusiness can also contact lost seller leads to obtain feedback on your behalf or provide other services designed to meet your specific needs.

 Blog submitted by Beverly – Associate, Best Agent Business