It's no big secret that real estate is a competitive industry and it's not uncommon for people to interview two or three real estate agents before deciding who to list with. Obtaining and properly managing listings is key to building a successful business. Be consistent in/with your business. It's tough to be consistent if you don't have a structure or routine to support you.
If you're struggling to "win" listing presentations here is a great routine to consistently use:
1. Build a standard listing presentation. Present your listing presentation at every listing appointment. Your listing presentation should include information about your brokerage, brokerage services, point form information about "Steps to Selling Your Home", point form information about "Keys to a Successful Sale", a marketing strategy, point form information about how you manage a listing, and information about closing costs (fee for service, legal fees, etc).
Having a listing presentation keeps you on track so you don't forget to relay important information about managing the listing and documents required to secure the listing.
2. Presenting information about current market conditions is key. It's very helpful to have specific information about the seller's neighbourhood and competing active listings within their neighbourhood. Using this information will also help you and your client to agree to a reasonable listing price - it can help close the gap between an emotional selling price and reasonable market value.
3. Build a checklist of questions to ask your clients. As you go through the checklist of questions with your client be sure to make notes. If the potential clients ask you why you're collecting specific information, explain to them that you like to be prepared in advance of activating a listing. It saves time so you can focus on preparing and activating the actual listing. For example:
- Yard Sign Y/N If yes, where should the sign be placed? In yard, front window or entry of complex if it is a gated community?
- Open Houses Y/N If yes, suggest and day and time for the first open house.
- Viewing Appointments - How much notice does the client require when there is a request to view the property? Or the latest the house can be shown during the day/evening? Does the client work shift work? If clients have young children they may not want viewings after 7 pm. If the house is tenant occupied, you may need a minimum of 24 hours advanced notice.
- Pets Y/N If yes, suggest the dog be placed outside or the cat to be kennelled during viewings. Pets are tough to manage during a listing. Buyers may not be pet-friendly.
- Ask them to disclose any and all issues with the property such as water damage, flooding, sewer backup, mold, etc. If the potential client is reluctant to share this information with you, not only is that a "red flag" but you should also explain the legal ramifications of not disclosing this important information.
- How would the client like to receive viewing feedback from buying agents? I prefer email for this only because I forward the email from the buying agent directly to my seller.
- Ask your potential clients if they plan to be away (vacation, out-of-town work commitments, etc) while the house is listed. If yes, ask when, how long and if they can supply you with contact information. You never know when an offer can come in and you'll need to be able to get a hold of them if this happens.
- Let your clients know that you will follow up with them weekly to address how things are progressing. Ask them if they would prefer a phone call or an email. The weekly follow up allows you to bring new listings and ever-changing market conditions to their attention. This type of open communication is very helpful and builds a stronger working relationship. If you need to do a price reduction during the length of the listing, this will help with managing the client's willingness to reduce price.
- If you have scheduled commitments that will take you away from work for a few days, let your clients know in advance. Put them at ease by letting them know you have a competent and accessible real estate agent covering for you.
Going over these questions will buy you more time with your potential clients which will help build a stronger rapport. Though you may be competing for the listing, act as though you have the listing. Confidence and competence are attractive characteristics in real estate agents. However, try not to be overbearing and dominating. Give them the opportunity to open up to you while you listen.
4. Ask them if they are willing and prepared to list with you. If the answer is, "not yet", be sure to ask "why?" Their feedback will be very helpful in gauging on how to proceed.
5. Wrap up the listing presentation by asking the potential clients if they have any additional questions and/or if they need clarification on the information you have presented.
6. Once you leave the listing presentation, drop a "Thank You" note into their mailbox. Let the potential clients know you appreciated their time and consideration and that you look forward to working with them in the near future.
Be consistent with every listing presentation. Knock it out of the park! Hit a home run!