How to Seal the Deal: Listing Presentations
You got the lead so now what? If they are looking to sell, there is a good chance the next step will involve a listing presentation. While every Realtor does this differently, there are certain things you can do to help ensure your success. Many sellers will interview at least 3 Realtors before deciding who they want to work with so you always want to ensure that you put your best foot forward.
No matter your style or strategy, this is the most important step to any listing presentation. Knowledge is power and by being prepared with that knowledge, you will ensure that your prospective clients are impressed. While some Realtors may choose to “wing it”, it is important to consider the impression that this may give the client: if you didn’t have time to prepare for this meeting, why would they think that you would put time and effort into their listing?
Do Your Homework
Spend some time researching the neighbourhood. The sellers know their neighbourhood inside and out but you may not, so spend some time learning. You want to know what the community has to offer as this is an important factor for the marketing of any property. This will also help you build a conversation with the client as most people love to talk about where they live.
When it comes time to do your CMA, take it one step further by visiting some of the comparable listings in the area. By seeing these properties first hand, you will be able to get a truer sense of what they have to offer than by just looking at the pictures and information on the listing. This will help you make an accurate comparison with the property you are hoping to list and will ensure that you are better informed when it comes time to explain it to the prospective clients.
Get to Know Your Clients
Selling a home is a huge deal for a lot of people and in a lot of cases, they will go with the person that they feel they have the strongest connection with. Before your listing presentation, you can look up the clients online to find out a bit about them and determine points of commonality. When you meet with them, take some time to get to know them on a personal level; most importantly, what’s their story? Don’t underestimate the power of an emotional connection. After your meeting, send them a personalized thank you note and ensure to include things that you spoke about to show that you were listening.
Don’t Undervalue Yourself
Some people believe that they only way to be competitive is to reduce their commission but do you really want to be the cheapest option? Think about what that says about you. While everyone loves a sale, for larger and more important purchases, we tend to spend more as it shows quality and in services it also shows confidence. While there are certainly people out there who are looking for a deal, in most cases you may be doing yourself a disservice by offering a lower commission.
Know Your Competition
If you can, find out who else the sellers are considering to sell their property. The most important component to this step is subtlety so keep that in mind. If you do find out who else they are considering, do your homework on them. Through the board site, find out their record and see how you compare. Now here comes the subtle part; you are not going to directly compare yourself to your competitors in your meeting. Take the information that you collected and highlight aspects of your record that are better than the others (Days on Market, homes sold in that community, etc.) and encourage the sellers to ask the other Realtors about those particular stats. Remember it is never a good idea to refer to any other realtors by name nor should you throw anyone under the bus.
What to Include in a Listing Presentation Document
Many Realtors put together a package of documents for sellers that provides useful information. You will want to include the CMA, a short profile about yourself, and a detailed marketing plan but the rest is really up to you. Make your listing presentation reflect your personality and your business. Make sure to include things that you feel that sellers may find helpful through the process. Spend some time ahead of time putting a template together so that you just have to customize it for each listing; a lot of the information will stay the same from listing to listing and this will save you a lot of time going forward.
- Be Prepared & Professional
- Get to know the neighbourhood inside and out
- Visit comparable properties
- Make a connection with the sellers
- Don’t always try to be the cheapest option
- Research your competition
- Put your listing presentation template together now