One of the crucial steps for your success as a real estate agent is to make sure that you give it your best in your listing presentation. Converting your real estate leads into listings is the most integral aspect and one which many REALTORs® are not sure how to navigate successfully.
In this article, we are going to provide some tips and techniques which will help you ace listing presentations. In each of the following steps, we will guide you on both the importance of it and how you should ensure that you deliver your real estate listing presentation perfectly.
How Do You Make A Successful Listing Appointment?
One of the key ingredients to winning a listing is confidence in yourself and your services to deliver the property owner what they need. What they need can be unique per each listing appointment. Some prospects want the most money while others want the most convenience. One of the things you can do to help with this is to have social proof from past clients on how you uniquely delivered them the results they wanted.
How do you deliver social proof? This is done by getting past client reviews of your services and experience delivered to them for the sale of their house. Then posting these reviews online. Go to each prior seller and ask them for a review.
You will want to have a home selling platform like Dorrmat which offers real estate agents to post your reviews on.
Introduce Yourself To The Lead
It may seem obvious and that is the reason why sometimes an agent may choose to skip this part and directly start talking about the home selling aspect. Our experts’ advice would be never to do that.
Sure, your prospective client knows about you, but everything that they know is either from a third party or from your website, social media platforms, or brochure. Remember, a homeowner is going to be meeting with a few agents before deciding to hire one of them to give the listing.
So, the initial few minutes of the presentation should be about highlighting your knowledge about the real estate market conditions, the property prices in the neighborhood, and your personal success selling similar homes. This is to build confidence in the seller’s mind that you are the right person to help them sell their home.
Take Them Through The Local Market Setup
Now that you have managed to create an interest in your services as a real estate agent, the next step in the listing presentation would be to take your clients through the current market conditions.
You want to emphasize that this is the perfect time for them to sell their home. Talk about the recently sold listings you have handled and what price each of those properties were sold for. Prepare them for considering a sale soon as the market is in their favor. Take them through the statistics and analysis and price of a recently sold home. Show the Comparative Market Analysis (CMA) figures. The CMA is a tool used by REALTORs® to identify the value of a property by running a comparison with similar properties sold in a neighborhood.
Take Them Through The Delivery
In the above step, you have focused on similar properties, you have shared the data and statistics about how the market condition is affecting the value of property in their neighborhood. Now, you have to transition into convincing them how you are going to market this property if you get their listing.
Make sure you practice this part of the listing presentation thoroughly. Do your research and gather as many details as possible. As a realtor, part of your job is to be prepared and create a few different marketing strategies and take the homeowner one by one through each marketing strategy. Explain the entire process in detail, from hosting open houses to marketing on social media that you would be carrying out for them.
You need to make the sellers want you to handle the responsibility of helping them get the market value for their home.
Let Them Ask Questions
All agents should be prepared to answer a wide range of questions when they walk into real estate listing presentations. The seller will have many questions that they want to ask you. The questions could range from list price to your past experience. Some common questions that the seller would want to know the answer for from the agent are:
- What do you think the listing price should be?
- How can I increase the value of my home?
- Have you, in the past, sold homes in this neighborhood?
- Do you have any testimonials or referrals from past clients for whom you handled their sales?
How Real Estate Agents Should Handle The Close
This is the final section of your listing presentation, this is where you have to ensure that you get the client to sign the listing agreement. This is a crucial part of the business. Most agents agree that the majority of the home sellers will forget them and their listing presentation in a couple of days. In general, most home sellers opted for the agent they met last while interviewing agents.
So, this is where you ask in a clear and direct manner for them to consider you to handle the sale of their home. This is the key area where you convert them from a prospect to a confirmed client. Now, be ready to counter some common hesitations and objections that many sellers may have. Assure them that deciding to sell right now is the right thing to do by being prepared to handle these hurdles.
The most common ones are:
1. We want to wait to sell as we are not sure.
You want the client to basically say sell my home and this is possible only if you motivate them to reach the mindset to move ahead with the sale. In such cases, go back to the second part of our presentation. Remind them again about the current condition of the local market, how the process of getting sales works, and proof that this is the best time to put their home up for sale.
2. We want to meet other agents before finalizing.
Another common hurdle is the desire to interview more agents. Now, instead of telling them it is not a good idea or that it is unnecessary to do so, which they would be expecting from you, try to support them.
Tell them that there are other qualified professionals whom they can reach out to, but do take this opportunity to remind them again about what service you offer, show the photos of past sales. Let them know you are handling other clients too, and not wait too long to make a decision.
3. We thought that we will have a higher list price.
In this day and age where everything is available online, chances are high that your client will go online and get price estimates from different sites, generally picking a number that gives the highest value. In such situations, be frank with them and tell them that you are willing to go by their number, but if the house has trouble being sold, then they should be open to reverting back to the number you suggested. Also, another thing to remember on the value websites, they are computer-generated, and obviously, the computer has not seen their home in person, so the value could be completely off the margin.
For all agents, the listing presentations are a crucial component. With more practice, you will develop a sense of how to deliver the best real estate listing presentation. If you are a new business, then talk to fellow agents about any issues you have faced, and always keep learning from each appointment. Learn to identify what went right and what needs improvement. By doing these and following the above-mentioned stepwise strategies, all of your leads, and listing presentations would translate into actual agreements.