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Creating a Dynamic Listing
Presentation
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
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 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 weakens your 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 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.
Written By Dirk Zeller of Real Estate Champions
Click here to learn more about Dirk Zeller's Real
Estate Training
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