Securing listings comes from the ability to present powerful presentations, communicate, and actively listen. This is the key to your success.
Let’s talk about how to obtain and securing listings. Since Listing Agents Last, it’s super important to know how to do this.
An assortment of stats is available online for the best sources of leads. By far, regardless of what source you look at, sphere of influence and referrals stand out above the rest usually as high as 85% of the lead generation sources. If this is true, then why do we spend time on anything else?
Now that you know where your leads come from, let’s look at how powerful you can be at securing listings without blowing it.
Too many agents love to hear the sound of their voice. This includes hearing about their designations, clubs, and success stories. While a good referral story or testimonial doesn’t hurt, the prospective client is only interested in their own well-being. Today, there is a lot less talking. Between texts and emails, people are thirsty for personal connection and interaction. This is another reason why leads are plentiful when you are involved in clubs, civic organizations, and other groups that interest you including your family and friends. They already know and trust you.
How do we stand out? Agents have been working on perfecting the art of securing listings for decades. While some have the secret sauce, and walk away with more results than the average agent, others are still waiting for their first listing… AND you want listings because Listing Agents Last… Remember!
So, what IS the Secret Sauce to Success?
I believe the personal emotional connection is the secret. I also think you have to find your own style instead of copying someone else’s. It would be like wearing someone else’s shoes comfortably which isn’t likely. The connection is achieved with a combination of active listening, good communication, and a lot of perceived common interests. All of this results in being singled out as someone to trust.
Planning a listing appointment should be personal. Google the owner of the property to find out as much as you can so you can discover an emotional connection with them. Be sure to listen and respond to what they say. When preparing for the meeting, be sure to ask the prospective client what their expectations are from the presentation. Securing the listing isn’t as much about facts and figures as it is about building or strengthening the relationship so they can feel comfortable with you.
One of the best ways to secure business success is solving problems. “The bigger the problem the bigger the paycheck”. After testing this out, I can tell you it’s true. Consumers want their problems solved and since about 95% of them are followers, that leaves you as one of the 5% that have to be the leader. So lead and solve their problems!
What should you include in your presentation? Definitely what the Seller wants. Here is a list of inclusions we consider important for them to consider you:
Pricing Strategy-Pricing is a range of value. While you are the leader at the listing appointment, the Seller needs to retain the power. As such, offering a range of value after carefully going over where that range came from is great for your relationship. This way, they see where the value range came from and are likely to be more reasonable about their selected value through your good education. You will give them the power to select their asking price understanding their decision and taking responsibility for it.
The Price Line is an amazing tool and easy to do. All you need at your presentation is a piece of blank paper and three magic markers: royal blue, green, and black. Draw a black line. Take the Active, under contract, and sold comps. The sold properties are listed on top of the line in value order and the active/under contract below the line in value order. Let the prospective Seller fill in the figures since they are coming right off of the CMA. Be sure to include days on the market (DOM). Ask them to put their house on the line as well and put their DOM with their listing price. You may find fewer issues when you get your Seller involved. I always found this worked like a charm and bonded the relationship with the seller.
Know the inventory-You are the expert in your business and the prospective client should be impressed by your knowledge. If you haven’t already done so, look at each active listing you are using as a comparable for their property. If you can’t see the under contract or sold properties, then let your fingers do the walking and call the listing agents to find out how those properties compare. Take a tour of active listings with your prospective client as part of your presentation. Sims used to say that “an educated consumer is our best customer” and this is true. Don’t be afraid to thoroughly educate.
Presentation/Technology-Most Sellers prefer to avoid being wowed by all of the stuff you are going to do because you are wonderful. It’s best to talk to them with a bulleted summary and hopefully you asked them to gather recommendations about you by calling a list of previous sellers if you have them. It’s always best to provide your prospective client with the ability to obtain a “live” testimonial if possible. Using a technological approach usually encroaches in the relationship building.
Hopefully, you prepped for the presentation by asking them up front what they expect. It is good to have handouts; such as, the market analysis that you will go over with them, a talking sheet with bullets on what they need to know, etc. Keep the presentation simple and clear to understand.
Clients Goals-Finding out what the client goals are is critical. For example, let’s say they are moving to another state because of a job relocation. They have teenage kids and don’t want to move. You need to understand where they are so you can take them to where they are going. Help them with a great agent where they are moving to, point out the positives that are waiting for them in their new location, and listen to keep the communication open for the best experience for everyone.
Often times the agent takes it personally when the Seller seems upset or angry. The agent is rarely the reason. They probably don’t want to move unless it’s for a larger home or closer to family. Ask don’t assume.
That is one example of many. The best way to handle all of your listings is to communicate and be a great listener. Be their advocate and protector.
Securing listings is more important now than ever. Listing agents do last and securing listings are the bread and butter of your real estate business model. You can handle many transactions if they are listings rather than buyers.
So, get out there and build your business by securing listings.
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