Quote by Jim Rohn
Tactics win battles but strategy wins wars. And when you step into the home you are in a war because the typical seller will invite 2 to 7 agents in before choosing one. This means you are in a war with at least 1 other agent on virtually every listing appointment you attend. Therefore you must be different. In fact you must have a strategy that aligns to what the seller really wants from you. In this article we will discuss the #1 Motivation Strategy to use to win listings.
Winning listings is vital to your survival as an agent. And a listing presentation is an absolute must. (By the way... a CMA is not a listing presentation but rather a pricing presentation.) Yet 96% of agents either do not use a listing presentation or have a listing presentation totally absent of strategy. What you want is to have a listing presentation purposely built around the reason why sellers hire agents. That seller reason is called your Unique Selling Point or 'Strategy'. In this article we will discuss what is the #1 Motivational reason why sellers hire agents. We then use this reason to develop a strategy to cause a seller to list.
To a seller... it is extremely important!
A listing presentation provides the seller with an understanding of who you are, the uniqueness of your company and the various strategies you will employ as you market the home.
It creates confidence in the seller about you and your professional abilities to successfully sell the home. It also reduces seller anxiety when with you on the actual listing appointment itself, as it provides a clear conversation flow concerning how you are going to sell the home. Also, it encourages the seller to freely discuss his/her personal needs and wants as to what the seller expects from you during the listing term. Furthermore it creates trust in you as a professional. And trust is absolutely essential if you are going to win the listing.
Have you ever heard of... motivation?
Motivation is the underlying reason why people do what they do. But when it comes to sellers many agents have not considered the real 'motivational reason' as to why a seller is willing to list with an agent and pay a rather large commission check just to see a sold sign on the front lawn. Gaining this understanding is vital to the success of your business.
Think about this for a moment. After all... if a seller already had a buyer they would certainly have no need to hire an agent and pay a commission. That alone would save sellers tens of thousands of dollars. So the motivational reason as to why a seller is willing to hire an agent is... because they do NOT know how to find a buyer on their own. This reason is very important for you to know because it gives you the edge over your less knowledgeable competition. Most agents simply have no idea as to the real motivational reason sellers hire agents. If you will focus your listing presentation on 'access to buyers' - which is how you address seller motivation - you will be giving the seller exactly what they need to have so they say yes to listing with you.
Most agents cannot prove they have buyers.
May we ask you a couple of questions?
If you are like most agents the answer is either very little or none at all. But were you aware the MLS was actually invented to help you locate buyers for your listings? These buyers are called MLS buyers. Were you aware you can produce a list of Targeted MLS buyers for every listing appointment you attend? How? Through the MLS Hotsheets!
Do you use the Hotsheets when on a listing appointment?
You are not alone when it comes to not fully understanding the MLS or how to use the MLS to produce a list of buyers for every seller you meet when on a listing appointment. Were you aware what you are actually selling to a seller when on a listing appointment is access to the MLS board itself? So in essence you really are a MLS salesperson.
After all, the MLS is what you are offering to sellers.
And it simply makes sense for you to know the benefits of the MLS and how to use these benefits when with your seller.
Here's a good question to ask yourself. Why haven't you been properly trained on the MLS? Why hasn't your company taught you how to produce a list of buyers from the MLS for your listing appointments?
Also... you want your listing presentation to include a section outlining the use of the Hotsheets and how the seller benefits from you knowing how to produce a list of MLS buyers and when these sellers are sold and ready to buy a home.
This is an actual slide within our '12 Reasons Why To List With Me!' listing presentation.
The #1 buyer group are called... Targeted MLS Buyers.
To win listings you simply must impress the seller when it comes to your expertise about buyers. This is why your listing presentation must include at least one slide outlining the 4 major buyer groups and which group is the most likely to be the 'buy now' group.
Why is this important? Because proving you have advanced buyer expertise separates you from other agents the seller may be interviewing. Here is a recommendation on what you could add to your listing presentation to educate the seller on the 4 buyer groups.
Dreams come true when preparation meets opportunity.
Preparation for your listing appointment means more than just having your CMA ready to go. Real preparation is having a plan for every step of the listing appointment process itself. Allow us to go through the top 3 initial steps... beginning with the front door step.
Were you aware a listing appointment is a social event as well as a business meeting? It is as much a social event as is a dinner at your friend's home. Speaking of dinner at your friend's home... would you arrive for dinner empty handed... without a gift to show appreciation to your friend for inviting you into his home? Of course not! Yet agents arrive at a seller's front door empty handed... without a gift of appreciation for the seller. Why do agents behave this way? Because most agents fail to realize a listing presentation appointment is a social event where appreciation and recognition are extremely important when it comes to listing success.
The foyer is where you seize control of the listing appointment.
After you have presented your social gifts at the front door your next step is to have a plan when you enter into the foyer of the home.
If you lack a foyer plan then it means the seller is in control of the appointment. This is the last thing you want when on the appointment. The best strategy to employ when in the foyer is to ask for a tour of the home. This time with the seller allows you the opportunity to build rapport and reflect on additional points you may need to address during the listing presentation itself. It also hands control of the listing appointment over to you.
Don't be in a rush to start your listing presentation!
After the home tour is finished you will want to go to the kitchen where you will walk the seller through your listing presentation. But before you sit down at the table and open your listing presentation you will first want to discuss 3 critical topics.
These 3 topics set the stage for your listing presentation discussion with the seller. If you fail to address these 3 topics then your seller may inject many objections into your listing presentation conversation. This often ends with the seller being unable to make a listing decision. Said another way... you lose the listing.
Always begin with your pre-listing presentation.
Before you take out your listing presentation and place it on the kitchen table you will want to ask the seller if he or she has any questions regarding your pre-listing presentation you dropped over to the home 2 or 3 days prior to the listing appointment. Here is an example of an effective pre-listing presentation.
The message on the cover slide is what a good pre-listing presentation ought to convey in terms of what the seller wants from you... a SOLD sign. Words are power and it is vital you take words into consideration when you design your listing presentation and all other supporting material used when on the listing appointment.
A Safe Island presentation discloses critical seller information.
After you have discussed any and all concerns the seller may have had with the topics outlined in your pre-listing presentation... its now time to take out your Safe Island Presentation.
A safe island presentation can be likened to what a lawyer uses when first meeting with a new client.
It is a document you use to gather 2 pieces of critical information you simply must have before you open your listing presentation.
A safe island presentation makes it easy for your to have the seller provide this information to you.
Sellers want to know where they are going with you.
You're not the only person to have anxiety when on the listing appointment. Just put yourself into the shoes of a seller and you will soon realize the seller also has plenty of anxiety when it comes to meeting an agent to discuss the sale of the home. And you simply must deal with seller anxiety... failing which the seller may not be in the right state of mind to list the home. This is the reason why using a listing presentation is vital to your success.
To resolve seller anxiety you will want to begin your listing presentation with an overview flow of the discussion you will have with the seller.
This will significantly reduce seller anxiety and put the seller's mindset into the proper decision making state during the listing appointment.
It's now time to focus on your marketing plan.
You will want to clearly outline your marketing plan to the seller. The best strategy is to offer a summary page and then proceed through each step as you continue your conversation with the seller.
The above is an excellent example of an effective summary page outlining the 12 steps to a successful sale.
This allows your seller to understand what you will do when selling the home.
By offering a step-by-step approach you make it easier for your seller to understand what you will do to sell the home.
And also make it easier for the seller to say yes to listing with you.
Most agents have an epiphany after reading this article. They simply had no idea the #1 Motivational Hot Button of a seller is a buyer. When you make buyers the focus of your listing presentation you will have discovered how to persuade sellers to choose you over any other agent they may be interviewing for the listing. After all... success is only 20% skills but a whopping 80% strategy. And buyers are the #1 strategy to use if you want to win the listing.
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