Listing Appointments - A Question...

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Real Estate Agent with Platinum Realty 1999090686

Normally, I try to break up my listing appointments into two meetings.  The first meeting is to just meet the potential clients and build repport, walk through the house, see for myself the condition and ammenities, and take notes.  On the second appointment, I present my listing presentation, my marketing plan, and the comparative market analysis of the property.  This week, I did it a little differently.  I had gotten particulars from the seller over the phone, so I ran comps before the appointment.  During the appointment, I met the sellers, walked the house, took notes, and took some pictures for the virtual tour (I put it together on www.realestateshows.com and emailed it to them the following day).  I did go over pricing on this visit, and presented the comparables to them.  I told them what I thought we could realtistically get for the home in this market.  I told them on the following visit, I would go over with them my marketig plan for the home; they already knew about the virual tour... They had interviewed another Realtor; I was the second, and they had an appointment with a third.  Here's where I think I messed up - I should have had my marketing plan already together for them to see that evening.  I could have had the presentation put together in a half-hour, but I usually reserve that until the second meeting.  What does everyone think?  Do you have everything ready to present (including comparables) on the first visit, or do you present it over two visits, too.  My thought always was, how can I correctly price a home if I have never seen the inside of it... Maybe what I should do is on the first meeting, present my entire marketing plan, and on the second visit, present the comps and price the home.  What do you all think?  I would appreciate your input. 

Have a great Mother's Day tomorrow.  I am going down to Perryville to spend the day with my Mom and Dad.  Haven't seen them in about a month, so it's time I make a visit...

http://www.timtanzhomes.com

 

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Rainmaker
226,979
Joan Snodgrass
Midamerica Referral Network - Kimberling City, MO

Good question, Tim.  Before I comment tho, could I suggest that you put some paragraphs in your blog?  Some space between makes it easier to read, and more likely to get read rather than passed over.

One or two appointments?  It would be nice and much more accurate on your comps if you could do it in two visits, but alot of home owners are getting 2-3 agents presenting.  You get knocked out of the ball park often before you come back for the second appt.  I don't mean to be calloused, but too many sellers just want the bottom line - how much $ will they get.  

I'd go for one. 

May 12, 2007 09:08 AM #1
Rainmaker
1,514,027
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County
I know the homes in my area well enough that with the phone interview I can gather the info needed for comps. Two trips is a waste of time in my opinion. You see the place, make your pitch and, if you get the listing fine. If not, move on.
May 12, 2007 09:31 AM #2
Rainer
48,835
Lania DeMers
Rocky Mountain Realty Co. - Colorado Springs, CO
Broker, Rocky Mountain Realty Co.

Hi Tim! Everyone has their own style, but I agree with Joan. Competition is aggressive, so just be prepared. You can take an extensive cma that encompasses below avg., avg. and above avg. and highlight the days on the market correlating to the condition of the homes and the market conditions.

People are hiring YOU and not your presentation. If they find you to be real, open, and honest, and if you are someone that they can relate to , they may hire you and discuss adjustments to your analysis on signing. They are looking for someone to put their confidence in. The benefits that you can afford them for the commission they are going to pay you.

One of those benefits is confidence. While it is very admirable that you would take the time to make two visits in order to acurately assess the condition of the property, people might see that as a sort of "sizing up" and translate that to a negative.

Conversely, when you show up with all your ducks in a row, (graphs and demographic charts being perhaps a small duck in their sight), they are impressed, but not closed until they see that you offer the benefit of confidence that YOU WILL sell their home. I'm a firm believer that you have to go to the appointment knowing that they won't help but have that confidence in you. Anyone who comes after you should just serve, in their minds, to affirm, "Yes, dear, that's what Tim told us, remember? Go ahead and call him."

Your Mom will be happy to see you and enjoy the weekend!

 

May 12, 2007 09:36 AM #3
Rainmaker
98,216
Michael Trinchitella
Putnam, Westchester Real Estate - Mahopac, NY
Putnam Westchester Real Estate

Tim, when I 1st got into real estate I did the same thing, I would do a 2 step listing appt., because that is what I was taught. Trust me don't waste your time, do it in one. You should know the value of the home if you are knowledgeable about the area and the inventory without even seeing the home. Once you get inside you can decide how much more or less you will figure into the price because of upgrades or work to be done etc.

Do the comps before you get there and just make some mental notes while in the house, be able to present a CMA to them that day, they do not care about fancy photo's and stuff like that, years ago I saw it made a difference, these days they just want a price then see if they like you and what you have to offer.

May 12, 2007 09:37 AM #4
Rainer
37,621
Robin Willis
Tucson Expert Agents LLC - Tucson, AZ
CDPE, SRES, Designated Broker

In today's market, I say ABSOLUTELY do it in one visit.  I like to do my CMA but don't print a recommended price on it because I won't know what their house is like on the inside.  Once I'm there, I can verbally tell them the price I feel their home will sell for after assessing any upgrades they have and whether or not they have maintained the home well.  You should always ask for the contract, especially if they're planning on interviewing other agents.

May 12, 2007 10:09 AM #5
Rainer
110,262
Linda Scanlan
A Fan of AR - Burleson, TX

Tim, just remember that you're the expert. I always go after the listing on the first visit. If you show your value to them they will see that you're the one to do business with. You might not get a second chance. I don't know what it's like in Missouri, but in Texas it's a one stop visit.

 Have all your material with you when you show up and all the visual materials to wow them. They won't remember too much what you say, but what you show.

May 12, 2007 10:54 AM #6
Rainer
1,031
Clarissa Murphy
Keller Williams Premier Realtors - Fort Meade, MD

Hi Tim.  I think the first "mistake" if you will - was not being the last agent in.  How do you do that - You ask them when you set the appointment if they are interviewing other agents.  If they say no or maybe you triggered in their head that maybe they should, you reply, " great, there is not need to. I provide have a proven marketing plan that will get your home sold in your time frame for top dollar."

Secondly, I am not a fan of the 2 step listing presentation.  Inorder to know what you are getting into, you or your assistant should make a confirmation call before the appointment.  "Hi, this in Tim w/XYZ Realty I just wanted to call to confirm our appointment for _________.  If we agree on pricing and terms, are you planning to market your home with me tonight? "  If yes - do paperwork and get that listing signed!!  If no - invesigate why.  If they say they decided to meet with another agent after you then try to reschedule for after they meet with the other agent.

May 13, 2007 03:18 AM #7
Rainmaker
289,810
Tim Tanz
Platinum Realty - Saint Louis, MO
St Louis Real Estate
Joan, thanks for the comment and the suggestion.  I completely agree reqarding the paragraphs.  I guess I was in the "zone" typing and didn't realize I had crammed everything together...
May 15, 2007 10:08 AM #8
Rainmaker
289,810
Tim Tanz
Platinum Realty - Saint Louis, MO
St Louis Real Estate
Gary, thanks for the comment.  It seems as everyone agrees with you...
May 15, 2007 10:09 AM #9
Rainer
61,359
Keller Williams Great Falls, Mclean
Keller Williams, Serving Mclean, Arlington & Reston areas - McLean, VA
I think on your first visit take the CMA's over and based on your inital walk thru determine if its up down or right on target for the price of this place-if your at all an agent you will have a fell where this will sit- You could walk the property after proposing CMA's and then tell your customer you have to take the information back to the office and work up an accurate price based on what youve seen- make them think your really doing due diligence- they will love you for it!
May 15, 2007 10:32 AM #10
Rainmaker
289,810
Tim Tanz
Platinum Realty - Saint Louis, MO
St Louis Real Estate
Thanks, Lania, for your comment and input.  I appreciate it...
May 15, 2007 10:40 AM #11
Rainmaker
289,810
Tim Tanz
Platinum Realty - Saint Louis, MO
St Louis Real Estate

Thanks, Michael, for your input.

May 15, 2007 10:41 AM #12
Rainmaker
289,810
Tim Tanz
Platinum Realty - Saint Louis, MO
St Louis Real Estate
Robin, thanks for the advice.  It seems everyone agrees.  One visit only...
May 15, 2007 10:44 AM #13
Rainmaker
289,810
Tim Tanz
Platinum Realty - Saint Louis, MO
St Louis Real Estate
Good advice, Linda, thanks for your input.
May 15, 2007 10:45 AM #14
Rainmaker
289,810
Tim Tanz
Platinum Realty - Saint Louis, MO
St Louis Real Estate
Clarrisa, gread advice about being the last Realtor in.  Thanks for your input.
May 15, 2007 10:47 AM #15
Rainmaker
289,810
Tim Tanz
Platinum Realty - Saint Louis, MO
St Louis Real Estate
Scott, thanks for your input.  I appreciate the response.
May 15, 2007 10:52 AM #16
Rainer
178,608
Anthony Clark
Clark Partners - Fayetteville, AR
Real Estate. It's About Lifestyle!

Tim  Looks like we're all in agreement that you should make it a 1-trip presentation.  I'd go a little further and say you should not only be ready to present, but also to list that very night - even if they are interviewing other Realtors after you.  If you have to come back with comps, it's my opinion that tells the Sellers you a) aren't prepared b) don't know the area or c) both.  What I do is bring three "pricing scenarios" so that I'm not committed to one recommended price.  The three options include language such as "you could expect to sell your home in 'as-is' condition in this price range" - notice it's a range not one figure - or "you could expect to sell your home in 1-45 days (or e.g. 45-90 days, 90 or more days) in this price range."  Good luck to you! 

 

May 24, 2007 02:18 PM #17
Rainmaker
289,810
Tim Tanz
Platinum Realty - Saint Louis, MO
St Louis Real Estate

Anthony, Thanks for the comment and advice.  I do appreciate it, and will use your suggestions.

 

Jun 02, 2007 07:11 AM #18
Rainmaker
513,538
John Elwell
CENTURY 21 Bill Nye Realty, Inc. - Zephyrhills, FL
You Deserve a Full-Time Agent, Not Reduced Results
If sellers are interviewing more than one agent and you are not last on the list of appointments, one of the better classes I attended recommended that near the end of your first presentation, you ask them to do you a favor, and that is to let you come back "for just a few minutes" to answer any last minute questions that may have come up during the other interviews, and to get back to them concerning discounts, etc. that you need to get approval for from the broker. This way you are guaranteeing you have the parting shot and can modify your plans if necessary. Many of us first do the CMA and then get a look inside the home and meet the sellers face-to-face for the first time.  This can affect what your pricing recommendations will be and how you will promote the property. For example, if you see computers and high tech equipment all over the place, you may want to compile a list of all the sites that you use, and being examples. I think most sellers will not be upset at the request for a second short meeting to fine tune things now that you have all the information you need. Works well for me anyway.
Jun 30, 2007 06:40 AM #19
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