Southern Maryland Best Buys

head_left_image

6 Keys to Dominating Listing Presentations

Good Post!

Need More Qualified Buyers?  Win More Desirable Listings...

What is the difference between winning a highly desirable listing and taking a listing because you believe, “what do I have to lose?”  The answer is “everything.”  Buyers do not shop agents, brands or information.  They shop for properties and in turn, desirable listings attract high quality buyers.  Winning those listings legitimizes you and drives momentum to your business.  Conversely, a listing taken because you felt you had nothing to lose often results in regret because of the money and time it cost you.

So how do you win desirable listings?  Here are six simple but fundamental keys.  For the purpose of this post, we are going to assume you have already qualified the seller’s motivation prior to the listing appointment and have all the decision makers present.

The Six Keys

1. Preparation - Perform preliminary research regarding the property.  It’s all out there: tax records, Zillow, Google, and your MLS.  You can find everything you need to sound informed about the property.  Drive by the property and take pictures from the street.  Use this information to create a prelisting package: 

  • step-by-step marketing plan
  • comparable marketing analysis
  • role during the sales process
  • value and explanation of proper pricing
  • sample marketing
  • sold properties and/or testimonials

 

2. Confidence - Knowledge builds confidence.  Proper preparation will allow you to present confidently, but you must also earn the prospect’s confidence.  You accomplish this by educating them on the home-selling process - from agreement, pricing, MLS listing, marketing feedback, agreed price reductions if necessary, to the close.  Show visuals and be succinct.  This process naturally substantiates your prelisting package.  For information on the best ways to present to different personalities, read our previous post.

3. Competence - You have two jobs.  The first is a fiduciary responsibility to advise, consult, educate and guide.  This is where you explain what you control, what the seller controls, and what neither of you controls.  The seller controls the price and how the property shows, its condition and availability.  Neither of you can control the market conditions, competition, nor what the market is willing to pay for the home.  Your second job is a functionary role to lead generate, build value, sell, negotiate, maintain compliancy and ensure the close. 

4. Pricing: The truth is that no tactic… no guru’s bullet proof promise, no genius coach’s script, and no secret marketing system will ever produce results as effectively as simply pricing the property correctly.  To accomplish correct pricing, you must be able to properly convey to the seller that it does not matter what they paid, or need, or want; it does not matter what another agent says.  All that matters is what the buyer universe will pay for their property.  To receive the highest possible price for their property, timing is everything.  If you initially list too high, you may never have an opportunity to reach that universe of buyers that would have paid a premium for your property.  If you list too high in a descending market—this will most definitely cost you money. 

For more information on pricing properties correctly please view our “Pricing Listings Right the First Time”

5. Execution - This is how we perform the home selling process: the tools we use and what separates us from our competitors.  This is the most important step of the process.  Do you really want this listing?  Then show the prospect some unique tools.  Some to consider are:

  • Call-Capture IVR- Take the information that you learned about the property and create a sample recording, upload the pictures you took of the outside of the property, and add the text descriptions.  Take a sample sign rider with you and have the seller call it; show them the call detail of how you capture every lead.  Emphasize that every lead receives a follow-up call from you or a member of your team.  Sellers want to sell their home for the highest possible price and this is accomplished by following up with every lead. 
  • Single Property Site- a personal touch that conveys to sellers, “your property is special enough for its own website.”  Buy the property address before you go on the listing presentation and create a site: see www.211bartonsprings.com.  Don’t just type in the URL, Google it to demonstrate your online marketing expertise.   
  • Virtual Flyer- Create a mock-up of the property brochure and add it to your pre-listing package. Make sure to include the single property website and Call Capture number so they can visit them afterwards, and email them another copy immediately after leaving.

 

6. Commission - Nine times out of ten you will have to address your commission.  Your full brokerage commission is under pressure and you will have to deal with it, so be prepared.  If you properly completed the first five steps you will have created significant value in the eyes of the seller, so overcoming this should be easier. 

  • Be understanding.  They may be upside down or at the very least have lost equity.
  • Explain how you are taking the risk.  They are in complete control of accepting or declining offers and you don’t get paid unless the property is sold at an acceptable price.
  • Explain costs associated with your marketing plan.
  • Explain costs associated with keeping the deal on track to close.
  • Explain all these processes have costs associated with them.  Ask them which of the processes (prospecting, marketing, systems, managing, negotiating) would it make sense to eliminate?  The truth is, in today’s real estate market, if you perform the services as stated above, six percent is cheap.

Arch Agent  210 Barton Springs Road, Austin, TX 78704

www.archagent.com 800-882-9155 info@archagent.com

_________________________________________________________________________________

 
You'll "Retrieve Golden Results" with Cheryl Ritchie, RE/MAX Leading Edge, for all your Southern Maryland and Anne Arundel County Real Estate Services.
 
OR Call/Text Cheryl at Cell 301-970-7566 OR EMail
GoldenGirl@GoldenResults.com for the Golden Results YOU Deserve.
 
Visit my Digital Business Card at https://about.me/GoldenResults
 
 
 

Or Visit my "Golden Results" Social Networking Sites

RSS Feed http://twitter.com/GoldenResults http://www.linkedin.com/profile?viewProfile=&key=23151495&trk=tab_pro http://www.stumbleupon.com/stumbler/goldenresults/reviews/ http://www.facebook.com/goldenresults http://delicious.com/goldenresults http://www.flickr.com/photos/goldenresults http://www.google.com/profiles/RetrieveGoldenResults
Comment balloon 4 commentsCheryl Ritchie • March 09 2010 05:22AM
6 Keys to Dominating Listing Presentations
share
Good Post! Need More Qualified Buyers? Win More Desirable Listings… What is the difference between winning a highly desirable listing and taking a listing because you believe, “what do I have to… more
Learn How to Create a Facebook Fanpage: Video Blog
share
Check this out to create a Facebook Fan Page! So would you like to learn how to create a Facebook fanpage? Then you are in luck. Here is a quick tutorial video (less than five minutes) that will show you how to create a facebook fanpage. Created by… more
Dear Seller, About that number in your head…
share
Good article… Whenever I go on a listing appointment, I generally find that the seller already has a “number in their head” about what their home should sell for. This number can come from various sources. It is – unfortunately – almost… more
Southern Maryland Realtors: Kaine Homes GREEN Agent Open House 12:30…
share
Please note that the Kaine Homes Open House below has been moved to Tuesday April 6, 2010. Call for details! Please note that the Kaine Homes Open House below has been moved to Tuesday April 6, 2010. It's 12:30-1:30PM on 4/6/2010 Everything… more
Making it easier to follow people on Twitter
share
This is neat! I just posted an article on how to use the product Topify. com to help manage who to follow on Twitter. Here is an example of an email you receive from Topify when someone follows you. They call them Power Twitter Email Notifications! &… more
How Do You Leverage Facebook In Your Real Estate Business?
share
Check this out! Most of us are aware that Facebook is the dominant force when it comes to social platforms. But did you know that Facebook is nipping on the heels of Google in regards to Internet dominance? Here are some Quick Facts.. more
Check out my NEW ActiveRain Contest Entry to be posted Monday…”And…
share
Check out my NEW ActiveRain Contest Entry to be posted Monday…”And the Rest of the Paul Harvey Story is! ” I received an email from Russel Ray the other day to check his ActiveRain Blog because he had mentioned that he liked my Southern Maryland… more
Moving Beyond "Static" Presentations for Your Blog and…
share
Check this tech tool out! Many agents use maps and slide shows of their local area to enhance their blog posts and websites. I’ve been creating graphic based maps since early 2008, added interactive tools to the maps last year and… more
Are You Fired Up with Enthusiams or Will You be Fired With Enthusiasm…
share
Great video The quote by Vince Lombardi "If you aren't fired with enthusiasm, you will be fired with enthusiasm" really makes me think about how this relates to my real estate life and just life in general. Whether it's a life philosophy… more
If You Don't Know How to Cook, Get OUT of the Kitchen!
share
Good points on short sales! If You Don't Know How to Cook, Get OUT of the Kitchen! You see, right now, there are too many cooks in the kitchen who don't even know how to boil water! Hire a chef or go to culinary school, I say! … more