Tom Ferry is a top real estate coach and speaker, a New York Times best selling author and he was named the most influential voice in real estate by Inman News. His videocast, The #TomFerryShow is an awesome resource that gives agents easy to implement, actionable advice on how to strengthen and grow their real estate business. In his most recent episode, Tom provided 10 tips that will help you improve your listing presentation. This post will give you the high-level takeaways - click here for the full broadcast.
Tom Ferry's 10 Tips for Improving Your Listing Presentation:
Pre-Qualify All Decision Makers:
With every listing presentation appointment you go to, make sure you pre-qualify all decision makers, that is, make sure they are available to participate and are ready to move forward. In Tom's words, "Not doing so is a cardinal sin."
Tailor Your Marketing Proposal:
When you pre-qualify, note what's important to your leads and cater your presentation to meet those expectations. Do they want lots of print, do they want online? Do they not care about any of that stuff and they just want the result? Custom presentations produce better results.
Shoot a “Coming Soon” Video:Quickly shoot a coming soon video on location and use a unique presentation to wow your potential clients. Check out Spreengs - a really cool little company that let's you quickly and easily create a video card. It’s an extra touch - a degree of separation that helps you stand out from the competition.
Create an Avatar:
Build a persona around the ideal buyer of the property you're pitching and create an avatar that represents that buyer. Identify their traits, disclose those to the potential sellers and make a point to research how many leads that fit the profile you will be able to target with your marketing through social media and other channels. Showing you've done your homework and taking the time to build out a lead profile that you'll be targeting with your marketing efforts is sure to impress.
Be On Time And In The Right State:Tom says, "I want you to show up with a swagger, with great energy, feeling good, having reviewed everything inside your pre-qualifications to know what my needs are. So you show up entirely for me, on time, ideally early, and in the right physical and emotional state to be of service, to help me, as the homeowner, achieve my goals." Whatever you do, don't be frazzled or late. The last thing you want is to get in your own way and to have your mindset be the dealbreaker.
Present Your Stats:Start with your proof of success. Present your marketing, your track record and your reviews first - then illustrate what you do better than or more than other agents. Ask "Yes" questions like, "Can you see that this is the kind of marketing that’s ultimately going to attract the right number of buyers to get the bidding war opportunity you desire, Mr. and Mrs. Seller?"
Present a Three Price Strategy:The average agent walks in and says, here are the comps, here are recently sold properties, here's what's pending and here's what your property is worth. Giving more options not only helps you stand out from competitors, it also helps your potential clients feel like they have more control in the process. For best results, provide the frenzied price, the fair market price and the needle in the haystack price. Listen to Tom's videocast at 7:44 for full details on the 3 price strategy.
Be Bold with Commission Negotiation:Get the homeowners involved in the negotiation process to avoid 'commission compression'. Show your value by creating a contrast between the listing agent and the selling agent. Explain the costs involved in marketing the home and reiterate what you're going to do to get the home sold quickly and for the right price. Tom has a script you can use to help negotiate - check out his video for full details.
Be Ready to Handle Objections:First - know that if you can’t handle the objections, you don’t deserve the listing. So handle their objections! As Tom says, "Whether it's, 'we want to start at a higher price, we need to think it over, we’re talking to another agent or we need to pray', manage whatever it is, handle the objection and close, because if you leave without it, you know what happens. You lose the listing."
Always Follow Up:
If you don't seal the deal, give your leads an assignment. Say something like, "I know that you guys are considering, you’re talking to other agents, I just want to encourage you to pull up my reviews, and then go to any other agent you’re talking to and considering, and read their reviews."
If you've done a good job of building your online reputation, reviews will say it all and your leads will come to the obvious conclusion - to work with the most qualified agent (you!).
For the full episode, visit www.tomferry.com.
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