Have you just received a call to pitch a potential client who is selling a huge listing? Are you losing sleep wondering how you can win the listing?
According to the National Association of Realtors, there are approximately 1.5 million registered real estate agents in the US alone.
This shows you how stiff your competition is. A captivating, informative, and thrilling listing presentation is one way to beat the competition.
During a listing presentation, you only have about 1 hour to make a lasting impression. One minute is enough to invalidate all your efforts or leave a mark. This is why you need to be attentive to details.
So, what steps can you take to win your listing presentation? Let’s discover how to win every real estate listing presentation.
1. Focus on Your Client’s Needs
People love when they feel acknowledged. Sellers want you to address their needs. Don’t just pitch a generic presentation. Personalize it according to the lead’s situation and needs.
You must carry out your due diligence when preparing your presentation. Find out about their selling timeline so you can develop a pitch that resonates with the seller. Personalize the pitch as much as possible. How are they feeling about the sale? Are they sad or relieved to offload their property? Has the decision been tough for them?
In addition, you need to research the property specifics, such as square footage, acreage, number of bedrooms and bathrooms, and other details. Find out when the property was built, nearby amenities, previous upgrades or renovations, and the number of times the property have changed hands.
Once you have these details, you can then determine how to customize according to the seller’s needs. For instance, if the seller states that they’re selling the home on an as-is basis, you can include a note in your presentation that you will add these details in your property description.
2. Conduct a Market Analysis
You stand a better chance of getting the listing when you have as much local market data as possible. Your presentation needs to include local market facts, such as average home prices, number of listings, and comparable sales.
One reason why carrying out a market analysis is important is so that you can help the client list at a realistic price. Sometimes, they aren’t sure at what price they should list. Knowing the average selling price for their property types and comparable listings can help them make a decision. Besides, a realistic price will help offload the property faster.
Remember, other competing agents may also conduct a market analysis like you. So, how can you stand out? By going beyond the market analysis. In some cases, the client may understand the local market or neighborhood much better than you.
You can go beyond the market analysis by preparing a typical buyer profile for your client. Research your target market’s demographic, profession, family, social status, and even interests. Include how your marketing strategy will reach the target market.
However, be careful not to bore the client with too much data. This isn’t a math and statistics class. Your goal is to be a local market expert. Fuse this data with your presentation and help the client see what they can expect from the sale.
3. Present Your Sales and Marketing Strategies
The client wants to know how you will sell their home. They also want to hear how you have sold previous clients’ properties. This is where your marketing strategy comes in.
You can ask yourself a few questions when determining your marketing strategy. Are you going to go for a fully digital approach? What digital platforms will you use to market the property? Will a mix of different approaches give more results?
While you may have used the same approach over and over again, don’t forget that the client wants to hear something specific to them. In short, come up with a unique strategy based on the client’s needs and situation. Make them understand why that particular strategy will work for them over other approaches.
Every home seller wants to feel that you’re going to do everything and anything to get them a good deal. Your market strategy will convince them that you plan to keep your word.
4. Prepare for Questions
It’s likely that your client is going to have some questions during your presentation. It’s inevitable since they want to know as much as they can about you and want to ensure that no stone is left unturned.
However, the questions and objections give you an opportunity to prove your worth and build a relationship with them. Just ensure that you go through some common questions beforehand.
Sellers’ questions during listing presentations involve topics such as:
- Previous clients and your track record
- Why they should choose you
- Proof that they will love working with you
- Any certifications or qualifications to boost your credibility
Keep in mind that sometimes clients will throw unforeseen questions at you. The goal is to establish a connection and demonstrate your expertise. However, you don’t have to answer a question immediately if you’re not sure. You can request them to grant you some time so that you can follow up with an email. The questions shouldn’t only be one-way. You also want to know your client better and know what you can do to ease their fears.
Here are some questions you can ask the seller:
- What are you selling?
- What do you like about this neighborhood?
- How long have you been trying to sell the property?
- Are there any major issues with the home?
5. You Don’t Have to Win
Many real estate agents, especially new ones, end up compromising their values and what they stand for to win new business. This is wrong. Don’t be a pushover. Don’t be a “yes” person who’s willing to take anything as long as they climb the career ladder.
Some sellers may be condescending, confrontational, or simply disrespectful. If this is the case, it might be wise to walk away from the deal. This may apply even to sellers who have unrealistic expectations when it comes to the selling price and isn’t willing to adjust accordingly.
The amount of emotional energy that you’ll have to spend on such a client isn’t worth the commission check. You might need that check but don’t be desperate to approve every request they have. Agents who’ve worked with such clients notice later on that it leads to several unfulfilled promises. This leads to bad feelings which is ultimately not healthy for business.
Be honest with what you expect from the deal. Besides, walking away from such a deal gives you unmatched empowerment.
6. Practice Your Pitch Time Again and Again
It is a cliche to say “practice makes perfect”, but in this scenario, it might be what bags you a client. You want to nail down every single detail, data, and statistic to make your presentation convincing and inspiring.
Ensure that your presentation is informative, not aggressive. If you’re aggressive, the sellers might not want to list with you. Be kind, informative, and helpful. Take out any parts of your pitch that will seem like you’re pressuring the seller. Your track record and sales skills should work for you.
As such, make sure you highlight your qualifications, skills, and experience. The seller should feel like they’re making the right decision by hiring you. You can include client testimonials or awards that you have won in your career.
The goal when practicing your presentation should be to ensure that you put your points across efficiently and in a timely manner. While some agents are more comfortable winging it, just ensure that you have a couple of talking points so that you don’t forget to talk about the important items.
I became a realtor when I was 25, Right now I’m a digital marketing expert helping realtors, brokers and real estate agents generate more leads online.