Real Estate Agent Tips for a Listing Presentation
Preparation for a Listing Presentation
If You Know What They Want, You'll Know What to Do:
Throwing around "Top Producer" statements or flashing previously sold signs isn't the best approach when making a listing presentation. Going on about qualifications or services that your seller prospect finds of no interest is a waste of your time and theirs as well. By paying attention to what sellers indicated they want in a survey, you'll know how to prepare for discussion centered around their needs.
In this Internet marketing world, you can have all of the stuff about how great you are on your site where they can read it if they want. However, make information about selling, listing, preparation, and pricing very prominent so they can see what is important to them. When you get to the presentation, it's all about THEIR HOME and their needs.
Do Your Research:
What do you know about the listing prospect, the property, their motivations, etc.? The more you know going into the presentation the better off you'll be. This is where you need to get a relationship started with some trust, as you want the truth about their timeline and urgency.
• Talk to the prospect when you make the appointment. Ask questions about reasons for selling. It's even OK to ask what they want to realize monetarily from the sale.
• Get the tax records.
• See if the property sold in past MLS records.
• Do a drive-by photo. We'll use it later.
• Ask them how many real estate agents they're interviewing and ask to be the last appointment.
Do a Comparative Market Analysis for a List Price Range:
If you think you'll close and write a listing agreement on this appointment, then have a detailed Comparative Market Analysis (CMA) prepared. With very similar homes or condominiums, this may be a viable option.
Not having seen the home yet, the more consultive approach would be to have a CMA that is broad with a range for listing price. You would arrive with this knowledge, but then view the home and talk with the sellers. Getting more information and returning with a refined listing price recommendation would be the plan.
Don't just do one CMA however. Do a second one using the list prices of currently listed comparable homes. Markets are constantly changing, and your sold comps may already be a bit stale.
Have a Professional Listing Marketing Package Prepared:
If you believe that part of your value to your seller client is in how you'll package and market their home in print and other media, how can you expect to get that across with poor quality marketing materials that present your brokerage and services?
We're not talking about the CMA here, but more the print or online display materials that you're using to promote your services and those of your brokerage. It's better to bring very little than to bring inferior brochures or less-than-professional marketing materials.
Know Your Strengths and Be Ready to Communicate Them:
Don't do a "dog and pony show", but be comfortable in the value of your knowledge, expertise, and resources. Notice that resources is part of this package. If you're new to the business, you don't have to apologize for it. Resources include the support and knowledge of your broker and/or mentor.
If It's a Feature Service, Have a Demo If Possible:
As real estate agents embrace technology in their business and marketing, some really innovative listing marketing services are employed. If you plan on using things like a toll-free hotline recording, web site text messaging or other new "gadget", have a demo ready, preferably with the actual home you're wanting to list as the demo.
If You Provide a Service, Make Sure that It's Presented:
If you want to really feel like you've blown it, have a prospect tell you that they went with another company because "they attach a virtual tour to the listing in the MLS."
You showed them your spiffy virtual tour, and of course, you attach it to the listing. Isn't that obvious? Apparently not, as you lost the listing by not letting them know the obvious. Your marketing materials need to feature everything you do for your clients, no matter how mundane you think it is. They're not in the business, and it may not be obvious to them at all.
Update Your Data if the Presentation is Postponed:
Assuming you had done your comparative market analysis as close as possible to the listing presentation appointment, a postponement should prompt you to refresh your data if necessary.
Watching the hot sheet for new activity could save you some embarrassment and make you look good by having the very latest info about the neighbor's home that just listed the day before.
The Devil is in the Details:
If you go into a listing presentation without all your bases covered, you shouldn't expect the best of results. Planning and preparation are part of any successful business venture or marketing presentation.
As a real estate agent, you are responsible for your business success, so put together a presentation plan and package that puts all your services forward to the seller prospect in the best light. If you show up and they perceive you as prepared, professional and competent, you have a leg up on the competition. Update: Check out my article about the Android Office here. It's getting far easier to make a great computer listing presentation.