1. The Presentation Must Have a Structure
Great listing agents know that one of the key ways to keep customers engaged is to have a clear structure for their presentation. Develop an outline for your presentation. You can organize it in several ways, including chronologically, thematically or topically. Organizing your ideas into an outline will improve the quality of your presentation and help you create a coherent message. You may want to have several versions, and depending on the client, you may opt for the “getting comfortable with each other” version; the “focus on data” version; or the “direct and to the point” version.
I always start with some rapport building and try to find common interests or other personal ways to relate first. From there, I delve immediately into the listing price and commission. Why? Because if I wait to discuss that until the end, by the time I get there the buyer has totally forgotten everything else I’ve said, because they’re so focused on having that part of the conversation. Scott Newman (SN)
My presentation begins with the CMA so that we end with marketing. I have found that if you do marketing first, all they are waiting for and listening for is the price. It typically takes 45 minutes to an hour and a half, depending on the house size. Leslie McDonnell (LM)
2. Use the Principle of Contrast
If you are competing for a listing with other agents, you need to stand out in a way that contrasts you with your competition. Most agents say the same things about expertise, experiences and availability, but those points are expected and considered standard by clients. Can you talk about all the homes you’ve sold in the particular neighborhood and share details about them? Find a way to work those details into your conversation. Have you negotiated an incredible deal that is now legendary? Can you spout off unique ways you’ve used staging to raise prices and shorten market time? Then talk about it – not the fact that you did it, but the relevant details of the experience. Also, have your examples ready. Don’t tell customers that you are different – actually be different.
We really push the team concept and emphasize how hard it is for a single agent to effectively list a home. Asking a seller “What do you think happens when a request comes in to see your home at 10 a.m. on Saturday morning, but your agent already has a full day of showings set up with their own buyers?” really stops people in their tracks and makes them reconsider the logistics of listing a home effectively.
Talk through the entire process – how showings work, feedback, how the MLS works, inspections, etc. Assume this is their first time. Amy Schiller (AS)
3. Set Your Goals and Backup Goals
If your primary goal is to land a contract and you can tell it’s not happening, shift to planting the seeds for another attempt down the road. If you see you won’t get what you really want, what can you accomplish? If the presentation doesn’t go your way, at least you can stay positive, focused and work toward your secondary goals.
Consumers love to see that you’re thinking two to three steps ahead. If they won’t accept your suggested list price, don’t just blindly agree to list higher. Make a written agreement with the seller to automatically reduce the price in 10 days if you don’t get an offer by then. Always be pushing to set good expectations on both sides. SN
I explain that it is a process, and that I will come armed with comparables so we should only need one visit. Set up systematic price reductions after a certain number of showings or days on the market. LM
4. Stick to the 18-Minute Rule of TED
The great TED Talks we all watch are no longer than 18 minutes. Eighteen minutes is the ideal length of time to get your point across. Too much information prevents the successful transmission of ideas. TED curator Chris Anderson has been quoted as saying that 18 minutes is “long enough to be serious and short enough to hold people’s attention.”
Leave your ego at the door; very few sellers will hire you because of your sales volume or any other sales statistics you throw at them. Instead, focus on giving them easy-to-digest, well-worded main points about your unique qualifications; set good expectations for the listing process; and finish strong by asking for the business. SN
5. Understand the Customer’s Emotions and Speak to Them
Never forget that buying and selling a home is a highly charged emotional experience. Understand what your customer is going through, whether it’s downsizing and selling a home full of memories; going through a divorce or loss; moving for a new position; or gaining space for children. Your honest, empathetic connection is the foundation of a trusting, lifelong client-agent relationship.
If you walk out of the listing appointment without understanding – in detail – why your client is moving and what is making them lose sleep over doing so, you’ve failed as a listing agent. You must understand the underlying, driving factors behind your client’s decision to sell, and display actual interest and empathy for what they’re going through. SN