Let’s talk about listing presentations. From what I’ve been reading lately I guess there are two schools of thought on these, one appointment listing presentations and two appointment listing presentations. I have to be honest with you, I had never heard of a two appointment listing until recently. You see, I have never had any training in Real Estate. When I first got my license 12 years ago I worked for a vacation rental management company and was the only one that had a Real Estate license. From there “The Lovely Wife” and I opened up Tutas Towne Realty and we had always worked by ourselves, until she retired about 5 years ago. Since then, I’ve gone solo. So no training. I have been through the GRI series, attended quite a few educational classes at our local board and of course, licensee and broker classes, but I am mostly self taught through trial and error when it comes to actual sales techniques.
Anyway, two appointment listing presentations are foreign to me and I am not able to advise on them one way or another.
There aren’t too many things that I do well but pricing and taking listings are two things I do very well. And since I have never done it any other way, the one appointment listing presentation is what I’m good at. These are the steps I take to get in and out in 90 minutes, with the sign in the ground, all photos, measurements and paperwork complete.
Please remember this may not work in all markets. My market is limited to one PUD, it just happens to have 65,000 people and most of the homes are fairly similar in style. And I have sold hundreds of homes in this neighborhood. Some homes I have sold three and four times. Okay, so here goes.
1. Pre-qualify the Sellers on the phone prior to meeting with them. This includes finding out their reason for selling, mortgage balance, how long they have lived in the house and details about the home. Do not under any circumstances discuss pricing or commission on the phone. If this comes up the answer is “I have to see your house in order to give you an accurate opinion of value” and “Commissions vary greatly from company to company. We can discuss this once we get together. Right now, I want to concentrate on how much money I can put in your pocket. That’s’ really the only figure that matters to you, right?”
2. Prepare your CMA based on public records and the information they have already given you. You should be able to come within a few thousand dollars of true market value, subject to verifying the condition of the house.
3. E-mail them this information in advance if they are able to receive it. Do not give them your price opinion or commission rate. Just comps, marketing info and such.
4. Prepare the listing agreement, MLS data sheets and disclosures in advance with your commission and all other information except price. Make copies. This should not be hand written. If it’s typed they are less likely to question or change things. Like my commission.
5. Day of presentation arrive exactly on time. Not five minutes early and not five minutes late. This is very important. You want them to know immediately that you do what you say, when you say.
6. The first thing I do is let them show me the house if they want or I look on my own. You can even take notes on a pad or talk into a recorder. They like that. This takes about 5 minutes.
7. Then guide them to the dining room or kitchen table. No breakfast bars and no coffee tables. A big table, with them sitting side by side across from you. And start out with chit chat. Get to know them. Listen to what they are telling you. You are fishing for their hot buttons. This takes anywhere from 10 to 15 minutes.
8. Then I start my presentation by telling them a little about how I do business and what they can expect by working with me. I am trying to hit on their hot buttons at this point. Win their trust. This takes about 10 minutes.
9. Next I get into pricing, going over my analysis, what happens when we get an offer, pre-qualifying buyers, possible closing issues, inspections and answering any questions they may have. Notice how I’m already talking as if I have the listing and the house is already under contract. About 20 to 30 minutes.
10. Then I hit them with the close “I’ll need a key today. I have my sign in the car and a lock box in my briefcase. Here, you guys sign here and here and while you are doing that I’m going to take some pictures and get my measurements, so I can get you up and running today.” Then fill in the price and slide over the paperwork and two pens and get up and start cutting on lights and taking pictures. I do not explain contracts to customers. I am not an Attorney and that is not my job. I may give them a brief summary limited to: here’s the price, here’s the length of the agreement and here’s where I get paid. Also, here’s the Property Disclosure Statement with a self addressed stamped envelope, complete it and mail it back to me.
By the time I am done taking photos and measurements they have finished signing everything, including their copies, and have placed a key on the table. 30 minutes.
I thank them and tell them I am hurrying back to my office to edit photos and get them in the MLS, so they are up and running before the morning’s hot sheets hit the system. Put on my lock box, stick a sign in the yard. And I’m out of there in 90 minutes. Next!
Usually, I will even call them on the way back to my office(home) to tell them how excited I am. And of course they will be hearing from me everyday.
Oh, by the way, I truly am excited. I love helping Sellers sell their homes. I want to do everything I can to get this done for them.
So that’s it. Broker Bryant’s, 90 minute, one visit listing presentation. Lock and load baby!