You’ve marketed your campaign, gotten phone calls from potential sellers, and have scheduled a meeting.
Congratulations, but the real work is just beginning. It’s time to prepare for the listing presentation.
Your sales presentation should begin with a good first impression. You should be well prepared and knowledgeable about your product. You should also be prepared to overcome any objections that your prospect may have. Finally, you should ask your prospect to sign the listing agreement.
So what exactly makes the perfect listing presentation?
Making a great first impression
Don’t underestimate how important first impressions are. Jordan Belfort (the Wolf of Wall Street) said that it only takes a quarter of a second for someone you’re meeting for the first time to make a judgement about you.
Most importantly, do not make the error that many amateurs do by not dressing professionally. Surgeons wear scrubs, firemen wear firefighting gear, and judges wear robes. Similarly, you need to dress like a professional real estate agent.
If you want to look like a professional real estate agent, you should dress up. This will not only make you look the part, but it will also give you more confidence.
When I am looking my best, with a tan, freshly cut hair, and a smile, I know that I can accomplish anything I set my mind to. This is according to Fredrik Eklund in his book “The Sell.”
No matter your job or station in life, looking your best is important. Why? Because how you feel directly impacts your attitude. If you feel confident and put together, your performance will reflect that.
First impressions are everything in real estate, and you want your clients to see you as a put-together, successful professional. This means having a polished appearance and being well-groomed.
If you’re going to be helping people sell their homes, which is usually their largest financial asset, you need to show that you’re qualified to do so. One way to do this is by dressing up and looking professional.
A good handshake is important because it shows agents that you are confident and professional. Many agents overlook the importance of a good handshake, but don’t make the same mistake. A handshake says a lot about you, so it’s important to make sure yours is strong and confident.
In other words, how you shake someone’s hand says a lot about you as a person.
To make sure you leave a positive impression, be careful of the message your handshake communicates.
Your handshake should neither be too tight nor too soft. It should be a gentle squeeze that lasts for two to five seconds. Pay attention to the other person’s lead and politely pull away when ready.
As you shake your client’s hand, look them in the eye to show that you are confident and honest.
Show up well prepared
It’s not enough to just look like a professional, you need to be able to show that you are one.
How can you increase your chances of being hired by a client? By being prepared for your listing presentation.
If you want to be successful in real estate, it’s important to be prepared. This means being able to anticipate questions and objections from customers, and being able to overcome them. This also requires having expertise in the field.
You will want to prepare a presentation that is detailed and informative. This presentation should educate your client on the current market, how the listing and selling process will work, and what marketing skills you will bring to the table.
If you want to be the best real estate agent for your client, you’ll want to give a great listing presentation.
Let’s take a look at an example:
An agent named Andrew just got a call from a woman named Sarah. She wants to list her home for sale, so she arranged to meet with Andrew to see if he would be a good fit for the job.
What should Andrew bring to the listing presentation?
Andrew should bring:
Sarah is thinking of selling her home, so Andrew is showing her printouts and a Powerpoint presentation of recently sold homes that are comparable to hers.
The printouts and/or slides you create should include statistics such as how long the listings stayed on the market, the price reductions they had and when, and how these properties differ from Sarah’s. This will give you a more well-rounded understanding of the market and what you can expect when listing your own home.
Comparables are important for Andrew to determine how much Sarah’s home is worth based on real data. This will help price the home to sell from the start.
According to Tristan Ahumada, CEO of Lab Coat Agents, the ideal number of bedrooms and bathrooms for a comp should match your own home, and it should be located within a quarter-mile, 200 square feet, and in your ZIP code and school district.
A marketing plan
Andrew should also bring a detailed marketing plan to his listing presentation for Sarah’s home. This should include how he plans to stage the home, use professional photography, and run open houses. He should also outline the traditional and digital marketing channels he will use to market the home.
Andrew will also make sure to assure Sarah that he doesn’t plan on just uploading her home on MLS and putting up a sign on her yard.
A point-by-point explanation of the sales process
An important thing that real estate agents do for people who are selling their homes is that they help make the process go more smoothly.
That’s whyAndrew needs to explain the entire selling process and how his skills and resources will make it go smoothly.
His listing presentation should be well-rehearsed and perfected so that if he’s ever asked to meet with a prospective client without warning, he’ll be able to do so confidently and without stressing too much.
You will also not get the traffic that comes from buyers who are looking for a home in the price range that the market says your home is worth.
See the Home in Advance
If it’s possible, try to scope out the house before meeting with the potential client. You’re already in the car, so it won’t take much time to drive by and take a look. This can make you stand out from other agents, which is really helpful when you’re just starting out and need all the help you can get. For extra credit, snap a photo and include it in your listing presentation. The homeowner is likely to appreciate your extra effort.
In addition to examining the house itself, take a close look at the neighborhood as well. The more you know about the neighborhood, the better equipped you’ll be to sell its merits to a prospective client. This simple act of due diligence may be enough to convince a homeowner to choose you as their agent. Furthermore, it will help you when you’re trying to convince house hunters that moving to the neighborhood would be a good idea.
Even if you don’t get the job you’re applying for, you’ll be more familiar with the area for future opportunities.
Check the Property’s History
Look up the history of the property online by plugging in the address to the MLS or the county public records. Find out if it’s sold in the past and for how much. Also check out previous pricing trends when and if the home sold. Look for tax records, especially any liens that could affect pricing.
Use the Right Body Language
Eye contact is the most important body language when convincing a homeowner to choose you.
When you meet a prospective client, shake their hand and look them in the eyes. Don’t look down or around the room, as this can make you appear uncertain, unconfident, deceptive, or uninterested – which are all bad qualities to have when trying to convince them of your competence.
Do not be the person that stares into someone’s eyes constantly without blinking, as that is creepy. If you believe it is time to look away, then it probably is.
One more thing to think about is your smile. Try not to look too serious by not smiling. Smiling often communicates that you are friendly and concerned.
You will improve more the more you practice. Even if you do something for 10 years, you can still find ways to get better.
So what do you do? If you’re completely new to real estate and don’t have ‘real life’ experience, what can you do? You have at least one of the following:
- Fellow agents/brokers whom you know and trust
- An honest friend who’s not afraid to tell you the truth
- Your mirror
Use the above as a practice audience for your listing presentation to get comfortable delivering it. This way, when you actually have to present it to a prospective client, you will sound confident and dependable.
Overcoming common objections
Even if you give a great first impression and your prospects are impressed with your listing presentation, there is still a chance that you will get some objections. Knowing some of the most common objections and having a strategy to overcome them is important.
Some common objections are:
“Another agent offered to list my home for less.”
Given the dollar amounts you’re dealing with in any real estate transaction, it’s only natural to expect clients that try to spend as little money as possible. To overcome this objection, you can reply with:
I only get a small portion of the commission, so if we reduce it, the only thing we’ll accomplish is hindering our marketing efforts and reducing the number of potential buyers.
I’m sorry, but I can’t lower my commission. This is my standard rate and I give all my clients my full attention and service. I would love to sell your home if you’re interested in hiring me as your agent.
There are a lot of agents who are willing to reduce their commission, but I advise against working with a discount agent. They probably won’t be very involved in selling your home, and may not do any marketing.
“I really want to work with you. But can you give me a discount?”
Just like the last objection, the client is trying to pay as little as possible. But they are a bit more committed, so you can reply with something like:
If you home sells quickly, I will lower my commission. However, if it takes longer to sell, I will charge my standard rate. The reason being, I have to think about my marketing expenses as well as all the time and effort I put into selling your home.
“If I bring my own buyer, sure!”
Do This After the Presentation
Once you’ve given your presentation, you’ll have to wait to see how the client reacts. Some will immediately decide that you’re right for the job. Others will make you wait before giving you an answer. And some will never get back to you. But don’t spend the next few days worrying about it. Here’s what you can do:
After you give your clients some time to think about your proposal, call them 48 hours later to check in. If they’re interested, set up a time to sign the listing agreement.
If a client tells you they’re not interested, it’s not the end of the world. You can always follow up with a thank-you note. In real estate, you never know when your paths will cross again. Even if a client isn’t interested at the moment, they may change their mind later on. It’s okay to be a second choice, as long as you’re the final choice!