How To Win The Listing Every Time By Thinking Like The Seller!
It is not impossible if you will consider and understand how a seller thinks. Once you put yourself in their shoes... you will have found the secret to closing virtually every listing appointment you attend for a listing presentation.
How Do Sellers Think?
That's easy to know if you will simply step into the shoes of a home seller. Here are some of the more important thoughts of a seller you must take into consideration.
1. Will The Agent Be Honest?
This is their #1 concern. You must prove your honestly through the presentation itself and through the use of testimonies.
2. Will The Agent Price My Home Properly?
Most agents think sellers want to overprice their homes. This is why on the average MLS board 33% of the listings are overpriced and do not sell. It is really due to poor understanding of a seller on the part of the agent. If an agent would only understand most sellers are prepared to price their homes at market value, they would have a new listing priced for quick sale.
3. Will The Agent Follow Through On His/Her Promises?
Sellers want to know if you will follow through and do what you promised to do for them during the listing term. So having a follow through plan is essential as it proves to the seller you are doing what you said you would do and this leads to more referrals. Therefore it would be wise to promise and then do a weekly update to the seller on the progress of the sale.
4. Will The Agent Market My Home Online?
We agents know the Internet simply does not compare to the power of the MLS board. We know another agent on the board is going to bring the buyer 100 times faster than silly Internet marketing will ever do. Yet to the uninformed seller, the Internet in their eyes is the best darn invention of all time. Therefore your listing presentation simply must have a section within it outlining your Internet marketing plan. After all, a happy seller is a 'Yes I will list with you!' prospect.
These are the top 4 concerns the seller has and it would be wise for an agent to develop a real estate listing presentation that addresses and resolves these issues.
Making A Good First Impression!
So you have booked the listing appointment and now the day has arrived to meet the sellers and conduct your listing presentation. To increase your odds for success, follow these critical first 7 seconds steps called 'Impression Selling".
What Is Impression Selling?
It is the objective of gaining personal 'like-ability' with the seller right there on the spot when you first meet the seller at the door. Sales research suggests 70% of your success is determined within the first 7 seconds of walking into the door of the seller. That's not a lot of time so you must have a plan to impress them failing which you put yourself behind the 8-ball. (And you don't want that to happen!)
1. Do This... About 24 to 48 Hours Before You Arrive!
You must send to the seller, by email or drop off, the following ice-breakers. (Often referred to as a Pre-listing presentation.)
A. Personal Portfolio
This is a professional summary of you as a professional.
It's just a fact of life prospects do not 100% believe salespeople when it comes to self-promotion. So you will need to use testimonies, since they will be much more inclined to believe what a satisfied client has to say as compared to what you have to say about yourself.
2. Do This... As Soon As You Arrive!
It is strongly recommended you bring at least one gift to the sellers as a way of saying thank you for inviting you into their homes. Here are a few good gift examples.
You will find by using these ideas you will create a very favorable 1st impression and be making the absolute best use of those first 7 impression seconds at the same time!
Why Top Agents Are Always Top Listers!
In every market across North America you will find a common thread among agents… those agents who make the most amount of money are also the same agents with the most amount of listings.
Why Is This So?
Why is it great listing agents are normally the ones who are the top earners in the territory? These "top earning" listing agents focus their efforts towards getting listings rather than chasing down buyers. They understand the real value of being a listing agent. They also use a professional listing presentation to close more listing appointments. They understand a listing presentation benefits the seller and makes it easier for the seller to say yes to listing.
It’s How This Business Works!
Every buyer must buy a home. The agents who have listings earn income regardless if they are working with the buyer or not. Said another way, it's better to have the entire MLS board working for you to try to sell your listings as compared to you working with only 1 buyer at a time.
It’s Called The MLS Leverage!
Thanks to the MLS, a listing agent does not need to find the buyer to make the income. All that has to happen is for another agent to show the home and the listing agent makes the cash too!
Listings Virtually Guaranteed Your Income!
There are only three reasons why a listing will not sell.
1. Overpriced within prevailing market.
2. Poor condition compared to competition.
3. Listing term too short to realize a sale.
Simply address these issues with the seller, particularly during your listing appointment, and it will guarantee your listings will sell!
Your Benefits for Becoming A Listing Expert!
1. Guaranteed income.
2. Prospecting focus.
3. Neighborhood expert.
4. Prospecting time reduction.
5. Contractual performance.
Compare these benefits to agents who work with buyers. Buyer agents often end up wasting their time because the buyer suddenly decides not to buy... or worse... buys from another agent on the way home.
But a listing agent can, during that same period of time, go on even more listing appointments and secure 3, 5 or even 10 new listings while the same buyer agent is stuck trying to get that 1 buyer to make a decision.
Listing Agents Know What Makes A Buyer A Real Buyer!
When a listing sells, in almost every case the seller has to buy another home and do so within days in the effort to match up closing dates. Therefore the seller is converted into a buyer. So listing agents know their sellers will also become buyers. This is why they focus their attention on listings.
Add to this urgency to buy, since if they don't they will be living on the streets, or even worse... living at the in-laws... and you are in for a nice payday.
If you are wanting to significantly increase your income, then focus your attention on becoming a listing expert. Of course you will need a listing presentation that showroom shines your talent. We recommend you consider a PowerPoint listing presentation such as on our website.
Step-By-Step Through The Listing Presentation!
1. Arrive 15 minutes early to view the curb appeal of the home and to take notes on it to discuss with seller.
2. When meeting seller at door, say something positive about the curb appeal or landscaping.
3. When inside introduce yourself. (Present your gifts.)
4. Ask seller if you can tour the home.
5. During tour ask seller to highlight what seller thinks are the main features of the home.
6. Ask seller during tour if any improvements have been made and if so what are they.
7. During tour ask seller why he/she is moving.
8. During tour ask seller if they have ever sold before.
9. After tour go to kitchen table and do the listing presentation.
10. Simply go through the listing presentation and answer all questions.
11. Make sure you only discuss price after you have concluded your presentation.
12. Proceed to your pricing presentation.
Value Range Market Pricing!
The concept, which was first born in Australia in the early 1990's and years later brought to the United States by Gregg Toyoma for Prudential California Realty's convention, is just another way to get the seller to price at market value.
Example of VRM
A home has a fixed listing price of $199,999. When using value range marketing a range of 10% to 12% is used. So in this example, the home would be priced, with the 10% rate, $179,999 to $219,999. A good rule of thumb is to place the market value of the home in the center point of the range. In this example, if the true value was $190,000, then the range would be $171,000 to $209,000.
Benefits of VRM
1. The home is exposed to more buyers. A buyer shopping for a $180,000 home would have the opportunity to view the home. The same applies to buyers willing to invest $200,000 to $210,000.
2. Buyers are more willing to begin the offer process. After all everyone loves to get a deal!
Real Life VRM Example
In San Diego, California, agents using Value Range Marketing recently had closed transactions of almost 21,000 homes while approximately 15,800 homes were marketed at a fixed price.
How To Do A Short Sale Listing Presentation!
The Reason For A Short Sale
It is to protect and preserve the credit of the seller.
You must have a presentation purposely designed for this seller type. A short sale presentation is very different from a traditional listing presentation. In a short sale presentation you will be simply informing the seller about the short sale process and not outlining your marketing plan.
Outside The Scope of Your License
You must disclose to the seller there are many issues of a short sale that falls outside of your real estate license. These issues include accounting and legal. Therefore you must ensure your seller is fully aware of these issues and that you never offer any professional recommendations on these issues.
Perhaps the best kept secret in the business. A mitigation company works directly with the lender and can often speed up the approval and sale process.
Never Market As Short Sale Until It Is A Short Sale
Many agents are risking lawsuits from both sellers and buyers by marketing a listing as a short sale when the seller has yet to receive short sale status from the lender. This amounts to false and misleading advertising. The seller can come back on an agent for any and all shortfalls while the buyer can litigate the agent for misleading information.
Disclosure Is Essential
The more you disclose the better off you are as an agent. Full disclosure of the short sale on the listing and offer is essential to guarantee you will not face potential lawsuits. Therefore your short sale listing presentation must include full disclosure.
Lenders require sellers to provide about 20 items to them, such as a Hardship Letter, when applying for short sale status. Therefore provide this list to the seller when on the appointment.
The seller must prove hardship. Any and all assets must be declared to the lender as part and parcel of the approval process. Any additional assets the seller has over and above the home may, or are, at risk.
Focused Internet Listing Presentation!
NAR Tells Us 92% of People Look At Homes Online!
Now is a fact virtually every seller will agree to when you are on a listing presentation. Therefore it just makes sense for you to have a section in your listing presentation dedicated to Internet marketing.
What Must You Include?
All of the following.
(1) Your Drip Email marketing system.
Now that would make for an awesome Internet marketing section for your professionally designed listing presentation!
(If you need such a system, go here: http://www.leadsdetector.com)
Here are a few ideas on how to stack the odds in your favor before you even arrive at the seller's home for the listing presentation.
1. Pre-Listing Presentation
Always drop off your pre-listing presentation package at least 2 days before the actual listing appointment.
2. Testimony Presentation
Make sure you have a stand alone testimony presentation. Have at least 5 testimonies in your testimony presentation. Include it in your pre-listing presentation package.
3. The 30 Day Marketing Plan
Always include your 30 day marketing plan within your pre-listing presentation package.
4. Listing Website
Also create a listing website for your potential new listing client. At the very least have a copy of your listing sites of previous clientele for them to view.
5. Public Open House Plan
There's more to an open house than simply putting up a few open house signs on the day of the open house. Always include your detailed open house marketing plan within your pre-listing package.
6. Office Open House
Once again, provide details of your office open house to the seller in the pre-listing package.
7. Agent Open House
Simply a must for the seller. The seller wants to know you will be promoting his/her home to other MLS agents. Therefore have a detailed agent open house plan included with the pre-listing package.
8. MLS Listing Agreement
Always a good idea to include a copy of the MLS listing agreement the seller must sign. By including it in your pre-listing package you are giving the seller the opportunity to get familiar with the agreement.
9. Offer Agreement Forms
This simply sends the right message to the seller about your commitment to sell his/her home. Include this within your pre-listing package.
10. Recent Market News
Always a good idea to give 'local' news about the local real estate market to the seller. This prepares the seller for intelligent conversation. Include this within your pre-listing package.
11. Sales Statistics
Once again, informs the seller of the market prior to your arrival. Your data should include past sales, expired sales and current competition. Include this within your pre-listing package.
12. Broker Letter
Ask your Broker to give you an 'official letter' from him/her and include it within your pre-listing package. The letter should state service terms and service guarantees.
13. Company Overview
The seller needs to have confidence in your company's track record of successful sales. Therefore give the seller this information by including it within your pre-listing package.
14. Your Personal Guarantee
Sellers also want to know they are placing their homes into the hands of an agent who is going to follow through on their various promises. Include this within your pre-listing package.
15. Stay-In-Touch Service During Listing Term
Feedback during the listing term is definitely something a seller wants and values. For this reason you will want to outline your service plan by letting your seller know exactly how you will keep him/her up-to-date during the listing term. Include this within your pre-listing package.
16. Internet Marketing
Give the seller a detailed outline on how you will market his/her home online. Include this within your pre-listing package.
1. What Is Your Goal When On A Listing Appointment?
A. To get the listing. (Yes or No)
Your goal must be to gain the sellers trust and confidence in your abilities. This is accomplished by discussing testimonies from happy clients and your 100% service guarantee.
2. What Presentation Do You Use First When Sitting With The Seller?
A. Your listing Presentation. (Yes or No)
You must use your testimony presentation first so that you can establish credibility and provide the evidence to the seller of your experience.
3. What Is The Goal of the Testimony Presentation?
A. To impress the seller. (Yes or No)
No, your goal is to have the seller agree you have both the talent and experience required to list and sell his home.
4. Should Your Listing Presentation Include Price Discussion?
A. (Yes or No)
No! Your listing presentation must be separate from your pricing presentation. The purpose of a listing presentation is to outline your services and to show to the seller how you will market and sell the home. Therefore you must gain acceptance from the seller at the close of your listing presentation about your marketing plan BEFORE you discuss price.
5. What Is The Most Important Part of Your Pricing Presentation?
A. The seller signs. (Yes or No)
No! It is to ensure the seller understands how price is determined by discussing the three components of the CMA. (1. The Competition: Homes currently listed for sale. 2. Recent Past Sales: Similar homes recently sold. 3. Expired Listings: Homes that did not sell.)
6. What Is The #1 Reason Why The Seller Invited You To The Appointment?
A. He wants me to sell his home. (Yes or No)
No! The reason is the seller does not have a buyer for his home. If the seller did have a buyer the seller would not have invited you to the meeting. Therefore the seller's #1 reason for inviting you over to the home is the LACK of a buyer.
7. How Do You Prove To Sellers You Do Have Buyers?
A. Brag about my company. (Yes or No)
No! There is only one way and that is the fully understand MLS 'Targeted Buyers' marketing strategy. You then must produce a list of these targeted buyers and then 'do the math' with the seller to confirm this list.
8. Outside of Having A Buyer, What Is The 2nd Most Important Concern of the Seller?
A. That the home sells in a reasonable amount of time. (Yes or No)
No! The seller wants ongoing communication during the listing term. There is nothing worse for a seller than to hire an agent and then to never hear from the agent. If you want referrals after the listing sells... stay-in-touch communication with the seller while you had the listing is what generates referrals.
9. What Is The Best Sales Close With A Seller?
A. I am the best agent in town. (Yes or No)
No! Sales closes serve only a very tiny role when it comes to having a seller decide to hire you to sell his home. Trust, experience, targeted buyers and guaranteed service when combined together within a professional presentation is what closes the seller.
10. How Are Referrals Generated From A Seller?
A. I sell his home therefore he sends me referrals. (Yes or No)
No! By staying-in-touch during the listing term qualifies you to ask the seller for help in your business by referring family and friends to you.
1. Your listing presentation is in full color.
2. Focus on solds.
3. Focus on days on market before sold.
4. Highlight expired listings.
5. Show how many days before expired.
6. Show net sales price after deductions.
7. Include a letter from your Broker.
8. Display your current listings.
9. Testimonies a must.
10. Listings under contract.
11. Current market data.
12. Market absorption analysis.
13. Samples of Just Listed and Just Sold marketing.
14. Your Internet marketing plan.
15. Your 'share the listing with other agents' marketing plan.
16. Your personal designations, recognitions and awards.
17. Newspaper articles about you.
19. Pricing presentation.
20. Staging strategy.
21. In-House selling display cards.
22. Open House strategy.
23. Sign strategy.
24. Update listing strategy.
25. Open house for office and MLS agents.
26. Business marketing strategy.
27. Seller assisted marketing efforts.
28. Communication with seller plan.
29. Feedback after showings plan.
30. Google and Facebook marketing plan.
It Is Unfortunate So Many Agents Just Do Not Know!
Once you discover why you will suddenly find out how to win every listing appointment you ever go on!
So Why Was The MLS Invented?
Most agents think the ONLY reason was to post their listings there and hope some other MLS agent will show it and sell it.
That's Not The ONLY Reason Why The MLS Was Invented!
There were 2 reasons for the MLS invention.
1. Post your listings.
2. Find your buyers.
And you are to use the "Yes I have buyers for your home Mr. Seller." when on your listing appointments.
Yes even the photos! And let me tell you, when you do this with a seller it instantly proves to them that you are NO ORDINARY AGENT!
How Do You Find These Buyers On The MLS?
The best way for you to understand how is through an example.
1. You Have A Listing Appointment At A Home Worth $300,000
2. That's Your Task, To Decide Which Home Type It Is!
All your listings appeal to a certain 'type' of buyer.
And as the listing agent you must decide which home type your listing is so that you can bring to the listing appointment a list of targeted buyers to match that specific buyer type.
You will then use this 'list of targeted buyers' and discuss with your seller how you produced this list from the MLS and how you will get the agents of these targeted buyers to show the seller's home when you have it listed.
The Hotsheets... Why Does Your Board Send You The Hotsheets?
Most MLS boards send to you recent home sale data on a daily basis. (Most boards call it the Hotsheets.) The reason they send it to you is for you to use it to produce your targeted list of buyers for your listing appointments. (They are not sending the Hotsheets to you as some gossip newsletter about certain agents selling homes, etc.)
You Will 'Just Do The Math!'
The listing presentations on our site have a few pages devoted to 'Targeted List of Buyers' and also a 'Just Do The Math' page.
Use This Strategy & You'll Never Lose A Listing!
We incorporate this marketing strategy within each one of the listing presentations offered for sale on this site. The training which is included when purchasing the presentations shows you how to produce a list of targeted buyers for every listing appointment you attend.
Free Sample Listing Presentation
Listing Presentation Article - Top Listing Presentation & Appointment Tips
There’s no better buyer than a seller who just sold their home