The listing
presentation is one of the most misunderstood areas of real estate
sales. There are as many theories about this presentation as there
are licensed agents in North America. Although the listing presentation
has changed and has been altered dramatically in the last five
to ten years, an efficient and professional presentation will enable
the agent to control his clients properly. What are the elements
of an efficient, professional listing presentation?
First, it is
necessary to clearly define a purpose for the listing presentation.
Now I know that you are thinking, "Of course, the purpose
is to take the listing." You would be partially correct. Certainly
the objective is to get the contract signed. The true purpose,
though, is to identify the clients’ problem in an efficient manner
and convey to the clients that you are the person who will provide
them the best opportunity to solve their problem in the marketplace.
These are really the objectives of a professional’s listing presentation.
The first part, identifying
the problem, has two issues that must be resolved. The first
issue is identifying the actual problem itself. The actual problem
has a baseline that stems from price. "Price will fix everything
else in the equation." The price is like the known variable
in an algebra equation. You need to search for the other potential
issues or potential problems, but they all flow through the known
issue, which is variable price. By lowering the price, you can
sell a property in poor condition, poor location, busy street,
functionally obsolete, a "buyer's market," or poor
marketing. The list of fixable problems is never ending. Price
has a direct correlation to all of these issues. These issues
or problems may or may not be interconnected with each other,
but price is the only guaranteed connection to all these issues
or problems. Your listing presentation should be focused and centered
on price, so that you will have an opportunity to get a sale rather than just a listing. Both you and your client want the
sale. Neither of you just wants the property listed.
The second key issue,
during the identify the problem stage, is to get your client
to agree on the problem. This one certainly is the harder of
the two issues. You must have agreement with your client about
what the problem is before you can proceed forward. Since the
problem is most often price, you must have a mutual agreement
on price. The stronger you are regarding the price, the better
chance you have of a sale. Many agents will delay the hard reality
hoping it will go away. Deal with it up front rather than 30
days down the road. You must have the integrity to tell the client
the truth. "It won’t sell for what you want. You need to
lower the price." Do not hedge or mince words. Tell the
client straight up that it will not sell. Get an agreement with
the client on price before you move on. There is no point in
continuing if you and the client do not agree on price. You will
be just wasting your time. I urge you to have the conviction
in your skills as an agent to truthfully interpret the market
even though most agents will not. Be honest. Most agents want
the listing and are unwilling to risk losing the listing even
though they know the property will not sell for the client’s
desired price.
Once you have resolved
the pricing issue you are in the home stretch. Your job now is
to convey that you are the realtor for the job. Brevity is crucial
to success in this arena. Most people do not want to listen to
someone talk about how great they are at selling homes. Ask them
specific questions to see what kind of services they are looking
for from their realtor. Find out the type of realtor they are
looking for to sell their home. Most people will just say, "We
want someone who can sell our home." This is the perfect
opportunity to demonstrate your confidence and conviction that
you are the realtor for the job. Look them straight in the eyes
and tell them your track record of success and ask them if they
are looking for an agent of your caliber. If you do not have
a track record, sell your company’s record. You may even need
to sell a little of both. Finally ask the clients to sign the
paperwork.
This section of your
listing presentation should last less than ten minutes unless they ask
a lot of questions. All during this presentation, pepper them
with trial closure. For instance, "Do you want a lock box
or appointment only? Are there times that would be inconvenient
to show the home?" If you have a concern about the condition
of the property, ask the clients if they could fix these items.
There are a million trial closes; use a few to test the water.
Most people will answer them and proceed forward.
When you have set up
a few trial closes and you have already agreed on the price,
you have arrived. You have arrived at the moment of truth, simply
ask for the order. It does not have to be elaborate, just ask.
Here are a few examples: "I think I have all the information
I need; I just need your o.k. in the box" or, "Do you
believe I can sell your home?" When they say yes, ask them
to sign. If they say no, ask them to tell you why and listen
to their answer. Once you have heard their answer, handle their
concern, and ask them for the order again. Do not give up after
the first setback. The average sale is made after the fifth or
sixth customer refusal. Be persistent; do not give up. If you firmly believe that you are the agent for the job, that belief
will come through. People want to select winners to sell their
homes.
Many agents do not understand
the concept of brevity. They have a two hour listing presentation.
What in the world are they doing for two hours? The seller wants
to know each agents version of the problem, wants to know how
that agent can solve the problem, and which one is the best Agent
for the job. The rest of the presentation the seller really does
not care about. If you want to be the chosen agent, focus on
the problem and the solution. Spending endless amounts of time
on other stuff, will just weaken your listing presentation.
Lastly, once the contract
is signed spend a few minutes debriefing the seller. If you have
staff, introduce them to the seller. If you have a routine of
communication or system you use that may be unique, fill them
in. A few minutes of explanation will save you the frustrated
seller phone call in thirty days. Let them know you care, appreciate
the opportunity, and move on to the next appointment.
A truly dynamic real estate listing presentation
is short and to the point. It also stays on focused for the entire
time of the presentation. Do not break your momentum by going
too long or not staying focused during the presentation. Stay
directed, focused, and solve their problem.
If you're tired of fighting for every listing and would rather have a system that takes you completely through the entire Listing Process, so that you walk out with the listing contract signed, you've got to check out my new program here.
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