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Listing Conversion Rate- Selling Lifestyle

August 22, 2012 by Joe McAuliffe

Another example of focusing your efforts an inch wide and a mile deep should focus on your existing listings.  This is the group that should be viewed as a top priority, or 20% activity, on a daily basis.  Success with listings will create significant income growth.

Unfortunately, once a listing has been secured by an agent, little or no creative thought is put into actually selling the listing.  This makes no sense.  Most agents spend a great deal of time, and sometimes money, prospecting for buyers and sellers.  An agent can wind their way through dozens, or in some cases hundreds, of touches before finally identifying the homeowner that wants to sell and wants that agent to represent them.

Once the listing is secured, the hardest part of an agents job is done.  This is not the time for an agent to coast by just posting the listing, sticking a sign in the yard and just waiting for someone to buy.  Quite frankly, that strategy is pathetic.  Not only is that strategy pathetic, it is undeserving of the commission that will be paid to that agent.  The key steps to converting a listing to a sale are as follows:

  1. Research
  2. Target market
  3. Presentation
  4. Distribution

Of the 4 steps to successfully converting listings to sale, the third step, presenting the listing to the world, maybe the most important.

Most successful agents are able to identify the best features of a listing.  Regrettably, agents will list key features and completely miss the opportunity to build a story that sells lifestyle and shows the benefit of each feature.

Here are some examples of how an agent can sell lifestyle and master the art of presenting a listing to the world:

  • Standard presentation: dock overlooking a beautiful lake.
  • Best approach:  grandfather fishing on the dock with his grandson.
  • Standard presentation: beautiful kitchen with granite countertops and upgraded appliances.
  • Best approach: fully upgraded kitchen ideal for socializing and entertaining.
  • Standard presentation: picture of beautiful pool area.
  • Best approach: enjoy lazy afternoons relaxing by the pool or host memorable family BBQ’s.
  • Standard presentation:  beautiful front porch overlooking well kept front yard.
  • Best approach: beautiful veranda invites leisurely conversations while enjoying lemonade after work on a quiet afternoon.

As per the above examples, it’s important to paint a picture that allows perspective buyers to feel like they’re already enjoying the lifestyle benefits of the home.

Filed Under: Cup O' Joe, Listing Presentations

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Managing Partner, is one of the top business consulting professionals in Florida. He has worked with Fortune Magazine, Oracle, Network Solutions, Computer Associates, and Lawyers.com. Some of MET’s current clients include Christie’s & Illustrated Properties, Coldwell Banker, Merrill Lynch, Smith Barney and Sotheby’s.
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