5 Steps for a Powerful Real Estate Listing Presentation
First impressions make deals.
The listing presentation is a real estate agent’s opportunity to make a first impression on their prospective client. This is the presentation that pitches them as the best person to hire.
A great listing presentation converts home sellers into clients.
There’s a common saying in real estate that goes, “when you list, you last.” It means that agents who work with listings have long-term success.
So, how do you make a powerful listing presentation to get the listing?
You have to focus on building trust. When the prospective client trusts you with their biggest investment, then you have a deal.
Building trust in your listing presentation comes down to 5 steps.
Step 1: Dress Professional
Dressing like a professional makes you feel like a professional. When you feel like a professional, your prospective client believes you’re the professional.
Clients want real estate agents who they can trust. Dressing like a professional sends the message that you are serious about your career. You show the client that you hold your work to a high standard.
From the client’s perspective, they want a real estate agent who wants the best for them. The client’s well-being is their priority, which is why they are looking for a real estate agent.
Communicate to the prospective client that you uphold your fiduciary duties and ensure their well-being. The client expects professionalism. So, deliver on their expectations and become professional – starting with what you wear.
Step 2: Prepare the Right Information
Information sells. The information you share with the prospective client is part of making a powerful listing presentation.
So, what do you include in your listing presentation? You should communicate the value you can give with numbers. A property profile shows their land’s primary selling points. So, add this data:
- Size of property
- Number of bedrooms and bathrooms
- Age of the property
- Competitive market analysis (CMA)
Collecting this data shows the value position the listing can take in the market. It can show your home seller how much money they can make. At the end of the day, they want the best deal possible.
How to Make a Competitive Market Analysis
The competitive market analysis shows how much money similar houses made when they were sold. This analysis collects information from houses that fit the make-up of the property you want to sell.
This information can become skewed if the information is not collected right, which gives your client the wrong expectation.
So, how do you make an accurate competitive market analysis?
Start with learning about the house’s make-up. Contact a title representative to collect information on the square feet, bedrooms, bathroom, age, encumbrances, and anything else that you can find. Next, use the MLS to find similar houses in the area to see the sales price.
Once you have this information, you can make an accurate estimate of the property’s value.
The property value is a powerful piece of information. It shows the seller how much they can make. They don’t just see the number, but they visualize everything they can do with that money. They feel what life is like when they have that much money.
Step 3: Measure Motivation
The seller’s motivation to sell tells you how to handle the listing sale. Their motivation determines the goal you set for yourself.
If the prospective client’s purchase of another home is contingent on the sale of their current home, then time is of the essence. Speed is a priority. But, if they are an investor who wants to cash out, then time will come second to earnings. They want the most money possible from the sale.
So, how do you find your client’s motivation for selling?
Make time to understand their motivation. Communicate with the client. Top-producing listing agents get to know their clients because that’s how they get the information they need to satisfy their needs.
Step 4: Pick a Price
Time to pick a price. The price determines how much money the prospective client makes and how much you, the listing agent, make.
The price of the home can become a contentious subject. Sometimes, the seller will ask for a higher price to make more money. They might expect to make more money (especially if the market is in favor of sellers.)
As an expert in real estate, you must share a convincing reason as to why you chose the price. Take the seller’s motivation into consideration along with the market and your CMA. Together, these factors should help you show your prospective client the correct answer.
Remember, at the end of the day, your fiduciary responsibility is to follow your client’s wishes. So, if they don’t budge on the asking price, you can choose to follow their wishes or turn down the listing.
Step 5: Sign the Contract
After you and the prospective client agree on a price, you should have them sign a Residential Listing Agreement (RLA). This is an official declaration of converting them from a prospective client to an actual client.
The RLA should communicate, with clarity, the timeline of the representation and the expectations of the parties involved. Now, all that’s left to do is sell the property.
Final Thoughts on Making a Powerful Real Estate Listing Presentation
What makes a real estate listing presentation powerful is its ability to build trust. So, your goal is to ensure the prospective client can trust you. You can do this with how you present yourself, the data you share, and how you communicate with the homeowner.
At the end of the day, the homeowner wants everything to go well for themselves. So, practice empathy. What would convince you to hire a specific agent to sell your home?
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