How comfortable are you?

By
Real Estate Agent with Long & Foster Real Estate Inc 610-225-7400 PA License - AB067198

This week we had a workshop at our office about not losing listings. As we all know inventory is low and when you lose a listing you lose income. With low inventory and strong demand many sellers see us as a commodity. I have found they have been asking for very low selling commissions that frankly won't pay the bills. We had one buyer at an open house ask one of our team members to give up 50% of her commission as an agent credit so they could buy the house! 

We all know our worth, but how comfortable are we with explaining our worth, our unique selling proposition to a potential client so they do not ask for a commission reduction. Do we even know what our unique selling proposition is or do we sound like everyone else out there.

crowd of peopleWhat makes us stand out and can we sum it up quickly and easily without looking like a deer in the headlights.

I was working on my listing presentation, and realized I needed to change a lot in there to modernize it and make it more about how I help the client, rather than just my history and background. How do those things benefit the customer.

Think about what your clients say when they leave a testimonial as a starting point to discover what the client might consider important.

Then you need to practice saying these points so you are comfortable and it is just muscle memory, rather than having to think hard every time a potential client asks why should I use you?

Now, I am off to practice with some friends from the office. Have a good day. I will post another post later once I have finished working on my points and am comfortable with them.

 

 

Posted by

 

Nick Vandekar
Nick is a Tredyffrin Easttown Residential and Commercial REALTOR selling The Main Line, Chester, Delaware and Montgomery Counties.

Giving you the confidence to make
the right decisions.

92 Lancaster Avenue
Devon , PA 19333
SellingTheMainLine.com
Mobile: (610) 203-4543 [call or text me]
Email Me

 

My Blog

   

If you are buying or selling on or around
Tredyffrin Easttown or along the Main Line, 
we can help you, contact us.

Comments (22)

Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Nick -  I read the comment by Nina Hollander, Broker I thought of an old saying I heard long ago:  WII-FM is a favorite radio station for many (maybe even most) ----  What's In It For Me.  Sellers of real estate as well as people in general.  

May 12, 2022 12:14 PM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nick,

I bring all my marketing materials and then tell them about the bespoke service they will receive.  I also show them how accurate I am with the positioning of their home.  Sometimes I get "well, I am interviewing other agents".  But it is rare that they don't call me up and give me the listing. 

May 12, 2022 02:25 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nick, it is tough in today's environment, when there are so many buy-out companies and other agents reducing their commission just to get the listing!   Laura & I practice on our scripts.

May 12, 2022 02:56 PM
Kathy Streib
Cypress, TX
Retired Home Stager/Redesign

Hi Nick- I think that people are always going to try to get more for less. What they may not realize is that whether or not it's a seller's or buyer's market, agents do as much if not more work as they would do in a balanced market. Consumers want to know what's in it for them  and they need to have confidence in the person they're working with. 

May 12, 2022 07:23 PM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I don't like giving discounts and actually just passed on a listing earlier this week because the seller asked for a discount.

May 13, 2022 06:40 AM
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Nina Hollander, Broker one of our leaders says he doesn't take anything but his business card with him.

 

May 13, 2022 10:15 AM
Nina Hollander, Broker

Nick Vandekar, 610-203-4543 that's going a bit too far for me... unless he sends material ahead of time. I've found that people like something to touch and keep and review.

May 13, 2022 10:29 AM
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Michael Jacobs very true, and i have heard that saying as well and usually bear it in mind and try to tell them.

Sheri Sperry - MCNE® I have just been having a bad period, where I have been striking out for some reason. It will change.

Joan Cox an agent lost a listing this week to a buy-out company, although the owner was leaving money on the table he had recently lost his wife and didn't want all the added stress of selling the home and having people coming through etc. Sometimes that is right for someone.

Kathy Streib sometimes you do more because of the agent on the other side. Regardless of that our job is to make the transaction as smooth as we can for our client.

Brian England sometimes that is what you have to do, walk away.

 

 

May 13, 2022 10:20 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Fantastic post Nick! Part of any successful listing appointment is discussing what exactly will be done for sellers and allowing them to see marketing materials. You must also show them the value of why they should you rather than someone who just sticks a sign on the yard and sets showing appointments.

May 13, 2022 01:10 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Nick Vandekar, 610-203-4543 - don't you just love good workshops that make you think and figure out things you might not have thought about before? Inventory remains low for most of the country (all that I know) and it is difficult to make a living for some and a plethora of opportunities for others. May you always be successful and come up with brilliant ideas that work for you. 

May 14, 2022 04:05 AM
Kathy Streib
Cypress, TX
Retired Home Stager/Redesign

May 14, 2022 07:01 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Nick. I was in the business to make a profit. I did not discount. I calculated my value in advance. If I did not get the listing the first time around, I was there after the listing expired to offer my services at my price. Want a discount now? OK, how much? Say 15%. So, you discount your asking price by 15% and we can talk. Sound good? Nobody ever said "yes"! Enjoy your day.

May 15, 2022 05:59 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Nick -  the sellers really don't know the value of the agent.  What you do and what type of an investment you are making to help them get the best dollar is important.  I need to do that too with my consulting practice.

May 15, 2022 06:15 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Nick Vandekar, 610-203-4543 I am very comfortable with knowing my worth . Perhaps it is because  having co-listed with an agent that was also very comfortable and taught me just what to say and how to say it with confidence.  IF do not believe my worth they will not either .  Glad Kathy Streib featured this as I missed it 

May 15, 2022 01:13 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Sellers want to know how the sale will impact them. That should be the focus of a listing discussion.

May 16, 2022 05:38 AM
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Wanda Kubat-Nerdin - Wanda Can! very true, sometimes though they are just focused on the money and unfortunately in this case the house sold in 1 day. I am guessing they found an agent out of our area who would list for the number they wanted to pay.

Patricia Feager, MBA, CRS, GRI,MRP that is the benefit of a good manager who sees the need and fills it with good workshops. The only problem was I think  I picked up a really bad chest and head cold from the workshop.

Kathy Streib thank you once again.

Wayne Martin I know my value, I just wish the customer saw it as clearly as I do.

May 17, 2022 01:51 PM
Patricia Feager, MBA, CRS, GRI,MRP

Nick Vandekar, 610-203-4543 


I hope you are feeling better or will be on the mend very soon. Something I noticed is that during the pandemic everyone, every store, every business was taking extreme measures to clean and sanitize everything. I have observed there are no paper towels in rest rooms, a sink at the hospital had no water, and more. I AM appalled. Take care of yourself and fight the germs away with all your might. 

May 17, 2022 06:01 PM
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Grant Schneider we all need to show our value, whatever we do.

Hannah Williams very glad you can do that so well.

Kat Palmiotti sometimes they are only focused on commission and ignore everything else you say, however many times you bring them back to the issues. In this case they found an out of area broker who obviously listed for a low commission and it sold in one day.

May 17, 2022 01:53 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good luck, Nick, with your improved presentations.

Have a productive month.

May 18, 2022 05:55 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Brain muscle memory is a good thing!   Knowing what your value proposition is will help when someone asks that question unexpectedly!

May 18, 2022 05:04 PM
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Jan Green that is why the Marines practice and practice so they don't have to think, but just do what they are trained to do everytime,

May 20, 2022 01:28 PM
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Roy Kelley thank you sir, have a wonderful weekend, stay dry and cool.

May 20, 2022 01:28 PM