Salescoach - With 25 years in the real estate industry, provides a range of specialist services to help you make more sales.

Making your Listing Presentation more effective

We are continually asked in this market to assist in the training of sales teams to improve the office listings supply. Whilst that in itself is a nice challenge, and we know much depends on the prospecting and contact programme to create the opportunities, there is much to be gained from understanding the situation you inherit when invited to pitch for the business.

Nothing works better than existing strong relationships with a large network, and a close second to that is the personal referral or word of mouth business that the top performers thrive on.

Unfortunately not everyone has the advantage of such a network and new comers to the industry certainly suffer from a lack of market presence in the short-term. It is fascinating to watch people respond to the current strong sellers market and compete for listings in a frenetic competition for stock that is all too often based on satisfying buyer demand and not on creating a win-win for agent and vendor. That is the win-win created by proper marketing and offer management that our vendors deserve in this market. That is the proper marketing to target all the potential buyers over a reasonable period of time and in this market this importantly has the ability to allow the agent to meet more prospects than normal – and some of them will not have sold, and wasn’t it listings you said you needed?

It has been said that in recent weeks the best prospecting you could do is to;

“Run at least two or three advertisements over separate issues, or weeks, of a property still for sale.”

In the meantime let’s look at what faces the unwary agent who embarks on a listing opportunity in this market. In this market vendors are aware that they can play one agent off against the other and consequently they look for people who fit their criteria. Not knowing the consequences of listing with a fee discounter (Poor negotiator) or a sales person who claims it not necessary to market today ns they already have a buyer, potential vendors may attempt to put agents against each other. If you are a weak lister, or an agent who lacks market presence you may fall into the trap that sellers set:
• Who is promising me the best price?
• Who will charge the lowest fee?
• Who will not ask me for a marketing contribution?

Knowing this is the possible selection criteria you can now seek to improve your listing presentation and cope with the following differences in your agenda and the vendor’s:

Possible Vendors Preferred Agenda Sensible Consultants Agenda
Prefer a fee discount Want to earn full fee
Don’t want to pay for advertising Recommends the vendor to contribute to the marketing campaign
Probably prefer a quick sale Want to expose it
Don’t really want open homes Want Open Homes
Keep it quiet Tell the world
May want several agents Want it exclusively
Don’t really want a sign Tell the world
Don’t really like auction Recommend Auction
May already prefer someone else Pick me
Want you to tell me a price Rather you told me what you wanted
Give it to you for a short time Want time to market properly

The very good listers and marketers have no problem in competing and convincing as they have a firm conviction that the professional agent’s way is the best for their vendors. Their conviction allows them to proceed with a confidence and energy that convinces their vendor of the wisdom of what they propose.

They will of course have case studies and true-life stories that are presented to support their proposal. Make sure your presentation is equipped with true success stories that will help your vendors see that what your propose is both sensible and rewarding.

This difference can be quite a bridge to cross as it’s not a point for negotiation – no, this is an education process to alert your vendor to the risks and costs that their agenda can bring. Once you know that these are the possible objections or obstacles it is a simple matter to prepare your listing presentation to cope and win. As soon as you start to negotiate eon these points you are probably not worth your fee!

So the first place to start is to make sure your approach is both confident and provides your vendors with an opening that offers a proposition that is to their benefit.

“Well thank you for making the time available to discuss how we might help in managing the sale of your property. If tonight I could show you a strategy that will bring the whole market to your property so we could together identify the buyers who would pay the most, you would be interested?

What I have here is a very comprehensive presentation that covers every aspect of marketing, managing and negotiating the sale of a property just like yours – so if at any time you feel ready to make decision, just stop me.”

During any earlier discussions with your client you will have determined their past experiences and even discovered their expectations and possible preferences for how this sale will proceed. Marrying these existing items in the vendor’s agenda to your is the crucial step in securing the listing so always look to find out their agenda then use that information to lead them to the best solution for them.

Then having on the listing against the competition, don’t be tempted to sell it to the existing buyers. Do what you know is best for your vendor and market the property to the total market before allowing a sale to take place.

You never know but you just might meet you next vendor and in this market that would have to be a win-win.

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Posted: Sunday 22 April 2018

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