There are many assumptions about what it takes to win a listing presentation. In reality, it’s easier than you think and more difficult than you could imagine.
Even though it was 24 years ago, I remember my first listing appointment as if it were yesterday. An elderly woman I had known for years had heard I was now in real estate and called to let me know she wanted to sell her house. I was excited and, since I had been told I was supposed to have a killer, state-of-the-art listing presentation, downloaded the company’s version onto my laptop.
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I showed up at her house with my mentor, sat down at the kitchen table, opened up my laptop and began. Halfway through the presentation, my mentor interrupted me. Looking at the owner across the table, she asked a simple question: “Do you want to sell your house?”
When the elderly woman nodded her head “yes,” my mentor reached over, closed my laptop, pulled out a listing agreement and started to fill it in. I watched the woman sign and then, as we headed back to the office with my first signed listing, pondered what had just happened. Ironically, it took me an additional 20 years for the principles learned in that first encounter to finally sink in.
All listing appointments are not created equal
Since that first appointment, I have crafted many listing presentations and gone on hundreds of listing appointments. As the market has shifted and morphed, we have constantly updated our presentations to include new technology, the latest methodologies and our ever-increasing metrics and awards.
At the end of the day, however, I have discovered that all of the well-known teams in our area basically have the same playbook and are, regardless of their brokerage affiliation, almost identical.
As online portals have provided more and more information, consumers have become increasingly savvy and empowered, to the point where agents and real estate teams, many of them indistinguishable from each other, have increasingly become viewed as commodities.
As I have stated before, “In a commodity-based world, sellers now search for real estate agents who will sell their house for the lowest possible commission. I have lost count of the number of times I’ve heard ‘You guys are all the same. You provide the same services as everyone else I’ve talked to. Why should I choose you?’”
If all you have to offer when meeting with potential sellers is a slick listing presentation that most likely is not much different from the ones used by the hopeful agent(s) interviewed before or after you, it may come down to the selected agent winning a “beauty contest” or simply being the last one up to bat.
There is another way
Once in a while, an agent gets lucky and scores a listing from a family member or a friend that they can secure regardless of their experience or capabilities.
If you have ever wondered how any given agent managed to score a listing when they seemingly have no ability to market or represent the home in a good light, that is how that happens. They were in the right place at the right time and got lucky.
For the rest of us, however, securing a listing appointment is a result of our track record, online reviews, marketing and sphere of influence. In other words, we have worked hard to get to the table. With this in mind, here are some significant truths to understand as you walk through the front door of your listing appointment.
1. They already know you can sell their house
They have contacted you because they have, in some way or other, seen you in action or heard positive things about you. You would not have been invited to the table unless you had a verifiable track record.
It is extremely easy these days to verify an agent’s production; a simple search on Zillow or Realtor.com will not only provide production numbers but will also show a map of recent sales, areas of specialization and more.
2. They already know what services you will provide
Because most top-tier agents functionally do the same things, if the sellers have spent any amount of time looking at other homes for sale, they know exactly what you can expect to do and how you will do it.
Not to be cynical, but selling a home for an experienced agent is not rocket science. Homes that meet the three P’s — preparation, pricing and promotion — will sell even in a down market as long as the seller is willing to cooperate.
3. They have been referred to you in some way
We all know that personal referrals are the best foundation upon which to build a successful listing presentation because they preload trust. While that referral may have come from a friend or associate, do not underestimate the power of online reviews.
Our society — like it or not — has been wired to accept the advice of others we do not know over, in many cases, common sense. Our team is frequently contacted by referring agents across the country based on our reviews alone. Even if they found you by visiting an open house or seeing your sign, chances are they did some research on you before they made the call to invite you over.
Based on these three facts, there is no point reiterating what the sellers already know.
4. You do not need to brag about how great you are
If you have spent any amount of time working on reviews, let Yelp, Google, Facebook, Zillow, Realtor.com or wherever else you have reviews do the bragging for you. No one cares how great you think you are. You can include a resume in the marketing materials you will leave with them, but that should never be the focus.
To be brutally honest, there are sellers out there who only care about the commission you will be charging to sell their home. In many cases, they are shopping commission only and will go with the agent who is willing to give away the most.
No amount of bragging is going to change their minds, and if you are not going to discount, then the sooner that gets on the table, the better, so you can exit and go spend your time in more profitable activities.
5. You do not need a canned presentation
This flies in the face of much of the conventional wisdom, but if you think about it, most canned presentations are designed to explain how great you are and how wonderful your marketing is. Keep in mind that they already know this, which is why you are in the room to begin with. They may not know all the nuances of what you do, but there will be an opportunity later for you to break it down for them.
6. You do not need to spell out everything you will do
Just to reiterate: You are there because they know you can sell their home. They do not need or even want to know all you will do to close successfully — they simply need assurance you will get them to the next chapter in their lives with as few bumps and bruises as possible.
When I hire an accountant to do my taxes, I do not care what they do to produce the final result — all I want to know is that they have the skills required to ethically get my tax bill as low as possible and be available in the event I end up getting audited. It’s the same thing when a warm lead already knows, likes and trusts you and your reputation. Show up, answer questions and offer the assurance they need to follow through with your service.
Want an 11-step plan for a perfect listing appointment? Read Part 2 on what your next listing appointment should look like.
Carl Medford is the CEO of The Medford Team.
