When you get invited to a sellers’ home for a listing presentation, let’s face it, mostly what they want to hear is how much and how soon. Often if it’s not the spoken words, it’s the impatient body language that betrays them. Well, we’ll get to that, but for them to understand exactly why their home should be priced where you say and why you’ll be the best person to sell it in a reasonable amount of time and at the best price, you need to start from the beginning.
Where is that? Start with the BIG PICTURE; do a little homework first:
GLOBAL ECONOMY - what’s going on in the world, how is the U.S. dollar faring, how are U.S. exports doing, based on other countries’ economies, are U.S. corporations making money, are businesses hiring or laying off workers?
Why is this relevant to Any Town USA? Bring the discussion to your city, town or local community by giving examples of perhaps a local plant or factory closing or a large company decided to re-locate, or to close due to a takeover by a foreign firm, perhaps. Or, if the dollar is cheap vis a vis the Euro or other currencies, there will be more demand for US goods, creating more local jobs, making our economy stronger. Jobs mean earning power, which means ability to purchase homes. Get acknowledgment from your audience that they see where you are going with this, how the big picture might impact the sale of their home.
Similarly, touch on:
MORTGAGE INTEREST RATES - might be critical in the home buying process as every point rise in the borrowing rate reduces buying power and every drop improves affordability of a home. Give a brief history of where interest rates have been (for example, Prime rate was as high as 21% in the 70’s and as low as 3% recently for many years after the crash of 2008), where they are now and where you think they might be going. Know your numbers! Read up on it and touch base with your local lender or two to see what the local mortgage rates are at the time of your presentation.
Discuss very briefly how the overall U.S. economy may affect those borrowing rates as the Federal Reserve Bank adjusts rates down to stimulate growth and raises rates to cool down the economy in an attempt to maintain economic stability. Again, the relevance to a seller here is whether the local economy will create a sellers’ market or a buyers’ market based on the local job picture as well as mortgage rate forecasts. Throw in some unemployment statistics, both national and for your state and town. Look it up!
To set yourself apart from the competition, don’t wing it - PREPARE! Discuss the BIG PICTURE before you get into the details of your Comparative Market Analysis by showing how it is all interrelated and what impact it might have on a) how quickly your sellers' home will sell (time) and b) for how much (money). Show that you understand time and money.
Addressing the BIG PICTURE demonstrates the depth of your understanding of the market and should elevate your clients’ esteem of you and your ability to market and sell their home. In other words, from the get go, show that you know what you’re talking about, but only once you’re comfortable with the subject. Be sure to tailor the discussion to the level of sophistication of your audience.
The BIG PICTURE is only the introduction, don’t dwell on it, you’re just setting the stage for the rest of your professional presentation. There are many other areas that need to be covered before your get the signatures on your listing agreement.