As the summer selling season continues, now is a great time to take a quick pause and ask yourself: Is my listing presentation up to par? Read on for timely advice and object-handling tips from Jackie Ellis and Lance Loken. This article originally published in our latest edition of OutFront Magazine.
A strong listing presentation provides agents an opportunity to share their unique value proposition while solidifying their position as a local expert.
Jackie Ellis and fellow Keller Williams agent Lance Loken of the Katy (Texas) market center are masters of delivering listing presentations that convert.
“I teach a lot about listing presentations and have made an amazing life by helping a lot of sellers,” says Ellis, who has sold over 2,500 homes.
“A listing presentation allows agents to share their value to the seller by providing details of their services, resources, marketing, effectiveness and results,” says Loken, who closed over $301 million in transactions in 2016.
How to Deliver a Listing Presentation like a Pro
It’s impossible to deliver a winning listing presentation without preparation, Ellis says.
“I don’t believe in winging anything. In order to understand what the seller wants, you have to listen carefully and not be thinking, ‘What should I say?’ To very carefully and methodically present your value proposition, you better know it before walking in the door.”
Another step Ellis recommends in preparation for a listing presentation is the creation and delivery of a preappointment package
Set the Stage with the Pre-Appointment Package
“One of the reasons we feel we’re as successful as we are is that we deliver a pre-appointment package before we even walk into the house,” she explains. “For every seller, within an hour of booking an appointment, a package leaves our office and is delivered to them at work or home that explains why they should hire me and my team. That way, when we arrive at the appointment, we focus mostly on them.”
Focusing on the seller allows for the opportunity to create a relationship, which is her favorite aspect of the listing appointment.
“I think connecting with the seller is really important,” she says. “You know exactly when that has happened. In one hour, I’ve come in and connected at a high level with someone that I didn’t know an hour ago. You’ve created a relationship, and that’s the part I like.”
Overcoming objections is a crucial step toward winning the listing and Loken’s favorite part about the process
“My favorite part about listing presentations is overcoming the seller’s objections, allowing them to have a better and clearer understanding of the market on a micro- and macro scale, and getting them to agree to list with us,” says Loken.
To be as effective as possible, he recommends roleplaying those objections each and every week. Here are some of the most common objections Loken encounters and how he overcomes them.
- “The other agent was willing to work on a discounted commission.”
- Let me ask you … if the agent is willing to give up their own commission, how hard do you think they will fight on your behalf at the listing table to get your home sold for as much money as possible?
- “I want a local agent.”
- Selling is a numbers game. You want your home in front of EVERY potential buyer that is currently looking, not just the buyers in this “local area.” The only thing that matters is exposure of your listing, and we have the resources, manpower and money to get your house sold. Our team maximizes the exposure of your listing by posting it on over 350 websites, social media, radio and TV advertising!
- “I’d rather work with an individual agent.”
- We have nothing but the utmost respect for individual agents; we also understand one person can only do so much within a 24-hour window. When you list with us, we have over 50 agents working for you.
Loken offers one last piece of advice – set expectations.
“When you set expectations, you minimize misunderstandings and help facilitate future conversations, such as lowering the list price when an offer isn’t expected or when a buyer has seen more than 50 homes and still hasn’t put an offer in.”
Loken says the following expectations are a MUST:
- Make a concerted effort to set clear expectations for communication: How frequently you will be in contact with them and any next steps that are necessary to move the process along.
- Give your clients a clear view of the market so they know what to expect in regard to pricing so future price-adjustment conversations can run more smoothly.
He learned this the hard way.
“We failed to communicate that we had been experiencing appraisal issues to a first-time seller during an initial phone conversation. We ended up selling their house over list price, but when it didn’t appraise by $5,000, they asked us to decrease our commission so they could net the same amount. When we said no and tried to explain the appraisal process, they were very disappointed and thought we did it on purpose. We quickly learned after that incident that setting expectations up front is very important so sellers know what to expect in good times and bad.”
To help agents turn up the heat with listings this summer and beyond, Keller Williams offers the Business Objective: a Life by Design (BOLD) Experience. This sevenweek course conditions agents with powerful mindset exercises, language techniques and lead generation activities. Agents who took BOLD in 2016 increased written units by 65 percent, sold units by 59 percent and GCI by 114 percent.
“BOLD has been a game changer for our team as it helps with scripts, tone and mindset,” says Loken. “We pay for everyone’s first BOLD class when they join our team because we know it WORKS and helps with exponential achievement.”
Article by Shelby O'Neill