The 5 Attributes Of Every Great Listing Presentation
In order for you to grow your business correctly, your listing presentation is the one tool you MUST master.
Listing Presentations are such a hot topic among real estate agents.
Surprisingly, most agents do not take the time to be trained by others who have mastered taking listings from anyone regardless of knowing the client before the appointment.
When it comes to the skill set it takes to be a master listing agent, the single BIGGEST mistake made by agents is that they get this false positive response of taking listings.
The false positive is created by your family and friends. Your sphere of influence is where most everyone starts. So, when you go out to take a listing from a friend or anyone that already knows and trusts you, YOU ABSOLUTELY SHOULD GET THE LISTING 100% of the time! It’s more that you can’t screw it up vs. you actually EARNING the listing.
Then, that agent gets the lovely smack of reality by going on an appointment that they got from an online lead or a referral that is meeting with 2 other agents. It gets much more difficult when you start going up against the #1 agent in your area. Why should anyone choose to do business with you vs. someone that sells most of the homes in that area???
This is where having a dialed in listing presentation and being trained like a true professional comes into play and will do more for your business than anything else you could do. Everyone wants to be an gold medalist, but few are willing to train like one. But, you must make sure you are practicing correctly.
If you master your buyer presentation, that gets you one potential deal.
If you master your listing presentation, that gets you potentially many deals as you will attract buyers by marketing your listing.
Let’s dive into the 5 Attributes that you MUST have in your listing presentation:
- Rapport Building – This is a given in any sales situation. This must be designed in the presentation. There are some major landmines that you can avoid later in the conversation if you nail this step. Look for shared interests, family photos, decor, or whatever you can while you look around the property to be able to connect with the homeowners. Also….and this is a writer downer…..you must learn to say “market research” when giving any feedback. One of the biggest landmines you can step on is saying that cabinets, decor, or anything that you know is going to have to change is ugly. Jay Kinder, who has been on over 4,000 listing appointments in his career said that he had an appointment that had lime green cabinets. AND SHE JUST PAINTED THEM THAT WAY. Luckily, he knew this trick. “Ma’am, I love the cabinets…market research does show that a more neutral color will help the home seller for more money, but I love them!” Stayed in rapport and got the listing.
- Differentiation – Why would someone choose to do business with you vs. any other person in your market. This is where a lot of people fall short. I’ll give you an example: if you drive the the Keller Williams office down the street from our office, there are over 300 agents that work out of that location. Most consumers don’t know the difference at first glance, so what are you doing to make sure you stand out. There must be multiple points that any potential client would say “I’ve never seen that” or “I’ve never heard that,” this is crucial. If you saw our listing presentation, you would get the same look that a dog gives when it’s confused. It’s a big, oversize laminated place mat that is two sided. It doesn’t really fit in any bag, but no one else does it like that which is the only reason to do it that way. Be unique. If you are one of three agents being interviewed for a listing, you must stand out otherwise you are going to see someone else start taking over listings in your area.
- Bring Data To The Conversation – You must prove that you are an expert and that you deserve their trust while handling the largest investment of their entire life. This is a major responsibility and should not be dealt with lightly. You should be doing research and understanding your market if you are a true expert, but value not articulated is value unappreciated. So, show off your knowledge and educate them on the area, the trends, and more importantly, that you are a TRUSTED ADVISOR that deserves their business. Proper preparation for an appointment will be a source of differentiation, but also, if they don’t agree with or understand certain stances, it is not you….it’s the data. “Men lie, women lie, numbers don’t.”
- Cover Objections Before They Are Objections – One of the most asked questions that we get is about handling objections on a listing presentation. It is a skill set that few actually master and is the reason why many agents reduce their commission when asked. But, when you go on as many listing appointments as we have, you learn every single way that you can LOSE a listing! Fortunately, you learn from every one of those so we started taking note of why people would choose to do business with other agents and what questions or objections we would get frequently. So, we designed our listing presentation to cover all of the objections before they could ask or state the objection. It is amazing how impressed clients are when you cover what they were thinking because it shows that you truly have it all together. So, take note of the common objections and start covering it before they bring it up, it gives you the chance to be in the driver seat!
- Design With Growth In Mind – You have to make this a scalable process. When you are trying to grow and develop a team, training is the reason there is such a huge turnover among real estate agents. NAR reports 1,236,544 members as of April 2017. There were just over 6 million new and existing home sales in 2016. So if you double that to have the maximum amount of transaction sides to 12 million and you have a national average of 9.7 homes sold. We have clients that sell that each WEEK!!! So, as you get further in your real estate career and go on many listing appointments, you are developing skills that are not allows teachable. So, if you had to take a year off and someone was going to do all of your appointments for you, what would you give them. It better be a system that is easy to follow and will allow them to get the listing every time! Then, you can rest a bit easier knowing that you will be able to have a business designed to make money while you are on a beach in a different country!
Whether you have a listing presentation already or not, take these 5 attributes and build them into your presentation. You will benefit by taking more listings and setting yourself up for more success down the road as well. If you need help, we would be delighted to help however we can!
Be even more prepared and know what needs to be sent before every listing appointment. Now, go get more listings!