An agent’s listing presentation makes a huge difference when it comes down to clients deciding which agent to list with. Of course, in addition to gaining a client, having listings is also a great way for agents to advertise and attract more clients. After all, a SOLD sign on a clients yard, along with your name and logo, reinforces a lot of great qualities clients look for. Before you get to that step, your first “challenge” is to win the listing presentation. Listing homes is when sales really happens, you’re first selling yourself, then you’re the property. Sales really boils down to value. Your product or service should be the solution to a client’s problem. The solution, however, must be worth it and able to solve a client’s problem. This is especially more relevant when it comes to real estate.
“Your product or service should be the solution to a client’s problem.”
Your listing presentation is an opportunity to demonstrate your value, and show ‘how’ you are going to solve the seller’s problem. But you’re not going to stop there, because you will also need to demonstrate ‘why’ you are the best agent to solve their problem, beating out your competitors. We’re going through the steps every listing presentation should provide. In this first part, as our Certified Sellers Specialist real estate designations refers to it, we are going to ‘Master the 3 steps to the kitchen table’.’
Step1. Research (Before the LP)
Of course, you will want to start with your comparative market analysis, comparing the price, features upgrades and circumstances of homes similar to your sellers. This will not only help you arrive at a selling price, but also serve as proof for your sellers, showing them how you arrived at this price. Put your findings in an visually appealing chart, which makes it easy to understand and compare. Have a copy of the listings, along with pictures of them home, open on your tabs to be able to easily flip through the homeowners current and previous competitors.
Get to know the neighborhood. Know the streets, transit, major roads, schools and businesses inside and out. Location plays a large role for home buyers, so it would be important to consider the surroundings and type of lifestyle potential buyers would be buying into. This will not only help you with the pricing of the home, but can also serve as a strong negotiating point when you’re negotiating the deal for the sellers (safe to assume you will get this listing, and buyers!). When you are conducting your research, find out of any upcoming plans by the city or businesses for construction in the future. If there is, find out what is being built, when the expected completion date is and how this will serve as an advantage to your sellers. During your listing presentation, share some of your neighborhood knowledge with your clients, it will demonstrate that you truly have taken the time to know the neighborhood and the details that make it so great. You will also use this information when you are marketing the home, as you will target buyers who will benefits from both the home, and the lifestyle.
Step 2. Ring the Bell
Arrive to your listing presentation approximately 15 minutes prior to your meeting time. Pay attention the neighbor hood on your drive over, and take a few minutes to sort out your thoughts once more. You should have had all your paperwork ready, and filled out parts of the agreement, because you are walking in with the intentions of walking out with a signed agreement. Gear your mentality up for a positive outcome and take one last check of your esthetics, such as perfume (don’t over perfume or have foul odours), breathe and outfit. When you finally ring the doorbell, introduce yourself with a smile and a firm handshake.
Step 3. Take a Tour
Set your belongings by the foyer or main entrance, and ask for permission for the sellers to provide you with a tour of the home. Start with bedrooms, taking note of any minor repairs or staging that may needs to be done. Try to keep the conversation light and connect with the sellers and build rapport. End the tour in the kitchen, where you can begin your listing presentation.
“Aim to keep your entire listing presentation between 45-60 minutes.”
Now that you have complete the research and the tour, you can begin your listing presentation. Aim to keep your entire listing presentation between 45-60 minutes, including the tour. Begin by having your presentation out, thanking the sellers for their time and setting a quick agenda for your presentation. Let’s begin.
1. About Me
Start off your presentation by giving some information about your background and experience. Here’s a quick list to help you compile a brief ‘about me’ topics:
- Experience in the business
- Volume of sales
- Designations/ specializations/ training achieved beyond your licence
- Awards Receives
- Number of years in the industry
- Notable accomplishments
- Family/ hobbies/ sports
This should not take too long to go through, however, use anchor words which your seller can identify with or relate to. For example, if both you and seller have pets, you can mention that in the ‘about me’ section by stating “I’m a proud father of three girls, well 4 if you count my golden retriever”. Only choose 1-2 relatable traits, you don’t want to over gear the focus away, however it can help to subtly break down a barrier with your sellers and create more rapport when you have a few things in common.
2. My Team
If you have a team, such as an assistant or marketing ‘department’ which helps you with designs, it would be important to introduce them. Mention them by name and a quick highlight as to how they will add value to the seller. If you do not have a team, you can still introduce your network of professionals, such as your real estate lawyer, mortgage financer, or photographer, to demonstrate that you have connections should the client require it. This will also provide the feeling that there is a whole team behind you and dedicated to helping the seller.
“Your value propositions should be explained within 45 seconds.”
3. Present Your Marketing Strategy
This is the part of the presentation that really begin to interest sellers. The stronger your marketing strategy, the more powerful of a reason you are providing as to ‘why’ they should list with you. You can divide your marketing strategy into three main parts:
- Your strategy before the home is listed on the market
- Your offline marketing strategy
- Your online marketing strategy
Each part to your marketing strategy should be presented in an organized way and really demonstrate the value. Your value propositions should be explained within 45 seconds and should follow this formula:
Value proposition = Title of your VP + The Strategy + Benefit to Client + Results it produces
Use visuals where possible. Majority of individuals (60%) are visuals learners, combining visuals to back up each one of your strategies will have a larger impact on the seller understanding the amount of value you provide. For value propositions, such as online marketing, you can use visuals such as stats and charts to display the value.
4. Pricing the Home
Now that you have gone over the tour and provided your strategy, you can propose the listing price. Before doing so, have your comparables ready to demonstrate why, and how, you arrived at this price. From your research, you can present the following to the sellers:
- Expired Listings
- Recently Sold Listings
- Current Listings
Based on these three categories, you can demonstrate the pricing, days on the market and the features of the top homes that closely matches your clients.
“The price clients should be focused on is the bottom line, the net amount they receive, not your commission.”
You may have used testimonials during your value proposition portion of the listing presentation, however, the testimonials used here should be about the experience with you and your value as a whole. If possible, have 3-5 short testimonials focusing on different areas. For example, one testimonial could be about the amount of time it took to sell the home, the sold price, communication with you or your negotiating skills.
This is the part of the listing presentation some agents may feel a little tense, depending on past experience. Boldly stated, if a client tries to negotiate your commission, don’t take it personally, and also don’t lower your price. Each case, however, must be judged by you and what you feel comfortable with. Keep in mind that your commission is equal to your value. If you were able to clearly demonstrate your value propositions with your marketing strategies and have testimonials to back up your strategies, your commission should be justified and does not need to be lowered. Reiterate this to your seller, the price clients should be focused on is the bottom line, the net amount they receive, not your commission. The net amount they will be receiving by listing with you, is more important. Confidence in your ability and strategy is important, and a willingness to negotiate your commission shows some doubt in your ability to get the sellers home sold for the most amount of money. It’s possible to be both bold, and polite, about your reasoning.
7. Close the Deal
I was tempted to write ABC (Always be Closing), as Alec Baldwin’s voice from Glengarry Glen Ross sits in the back of my head. Nevertheless, it’s still a great quote to go by, close the deal! Create excitement with your seller, tell them about the process, and your action item steps you are going to take right away, as soon as they sign the agreement and are ready to move forward.
This is the 7 (ok, ok maybe 10) steps to always winning your listing presentation, courtesy of some advice from the Certified Seller Specialist real estate designation. Review your listing presentations, make sure you have the visuals and are up to date with the information. For realtors who are looking for a designed and content ready listing presentation, you can find this with your free membership at designationhub.com, which also include the full 3 sections of the marketing strategy and scripts. There’s a lot of competition out there, along with sellers challenging agents with regards to the value they bring to the table (no pun intended!).
Go get em!