When you’re on a listing presentation, it’s important for both you and your prospective seller to be aware of the competition. Fortunately, there is a way to prove your superior services, while simultaneously softening your seller’s determination to overprice their home. What is this “double-benefit” strategy? Take the time to research the competition before you go on the listing appointment. Here are the steps involved in this strategy:
1. Make a list of all of the properties that a buyer would look at, in addition to your prospective seller’s home
2. Research every listing sheet, including the photos that are on realtor.com or in the MLS.
3. Select 3-5 of the MLS sheets to use as bad examples of how “not” to present a property.
4. Print the MLS sheets out and “grade” each listing sheet and the photos as if you were an instructor teaching students or in our case, the listing agents would be the students.
5. Use a highlighter and red pen to mark up the listings sheets pointing out the flaws as if you were justifying a poor letter grade for each.
6. During your listing presentation, lay each of the listing sheets out in front of your prospective seller, along with the best one you’ve ever done.
7. Ask the sellers: “If you were a buyer, which house would you want to see most, and why?”
Use the above approach to prove to your prospective sellers the value of having you represent them. Use the following questions, as if you were an attorney, to prove your case:
- “If you were the buyer, which house would you be most interested in seeing?”
- “If you were impressed with the home before you ever saw it, wouldn’t you be pre-disposed to like it, once it was shown to you?”
- “If you did like the home, wouldn’t you be more likely to make an offer, possibly even offer more?”
- “If you made an offer and it was countered, wouldn’t you be more likely to negotiate and possibly even pay a higher price?”
There you have it! By taking the time to really market the home with professional quality photography and agency-quality ad copy, you’ll get, more buyers coming to see the home, have more buyers willing to make an offer and those same buyers willing to pay more! All because of the quality of your presentation. That’s what’s going to get their home sold above the competitions. And, that’s what’s going to motivate them to pick YOU over all other realtors!