5 Top Things Not to Do When Doing a Listing Presentation
A listing presentation is your chance to make a great first impression on potential clients and show them why you're the best agent to sell their home. But it's also easy to make mistakes that could cost you the listing.
Sarah is a new real estate agent and is eager to prove herself. She had been working hard to build her network and generate leads, and she was finally rewarded with a listing presentation for a beautiful four-bedroom home in a desirable neighborhood.
Sarah spent weeks preparing for her presentation. She studied the local market data, analyzed comparable sales, and developed a comprehensive marketing plan. She also practiced her presentation in front of the mirror, with her mentor, her family, and other colleagues. She really practiced!
On the day of the presentation, Sarah arrived at the home early to set up. She had prepared a professional presentation binder with all of her materials, including a market analysis, pricing strategy, and marketing plan. She also had a slideshow of photos of the home and other relevant information.
When the sellers arrived, Sarah greeted them warmly and offered them refreshments. She then began her presentation by introducing herself and her team. She then went over her market analysis and pricing strategy. She explained why she was recommending the list price that she had chosen, and she provided data to support her recommendation.
Sarah also outlined her marketing plan. She explained how she would promote the home online and offline, and she shared examples of her past work.
The sellers seemed impressed with Sarah's presentation. They asked her a few questions, and she answered them confidently. However, at the end of the presentation, the sellers told Sarah that they wanted to take some time to consider their options.
Sarah was disappointed, but she understood. She thanked the sellers for their time and told them that she would be available to answer any further questions they had.
A few days later, Sarah received a call from the sellers. They told her that they had decided to go with another agent. Sarah was devastated. She couldn't understand why she had lost the deal.
Sarah talked to her mentor about what had happened. Her mentor told her that she had likely made a few mistakes during her presentation. First, she had talked too much about herself and her team. The sellers wanted to know about her plan for selling their home, not about her accomplishments.
Second, Sarah had made her presentation too salesy. She had focused too much on convincing the sellers to list with her, and not enough on building a relationship with them.
Third, Sarah had failed to close the deal. She ended her presentation by thanking the sellers for their time and telling them that she would be available to answer any further questions. However, she had not asked them for the listing.
Sarah learned a valuable lesson from this experience. She realized that listing presentations are not about selling yourself. They are about selling your plan for selling the seller's home. She also learned that it is important to build a relationship with the sellers and to close the deal at the end of the presentation.
After this experience, Sarah contacted me right away to start using Y-LAS for all of her listings moving forward so she doesn’t have to worry about seller communication or marketing her listings, and so that she can include Y-LAS in her listing presentations to show how strong her marketing plan is for selling the seller’s home.
Sarah is not alone. Agents want to ace their listing presentations and build their real estate business. There are a few things agents can do right, and many things they can do wrong during a listing presentation. Here are five top things not to do when doing a listing presentation:
- Give the price first.
One of the biggest mistakes agents make is giving a price estimate before they have a good understanding of the property and the market. Sellers want to know what their home is worth, but they also want to work with an agent who is knowledgeable and experienced enough to get them the best possible price. Giving a price first shows that you're not prepared and that you're not taking the selling process seriously.
- Try to sell without first building rapport.
Sellers want to work with an agent they trust and feel comfortable with. That's why it's so important to build rapport before you try to sell yourself. Take the time to get to know the sellers and their needs. Ask them questions about their home and their goals for the sale. Once you have a good understanding of where they're coming from, you can start to position yourself as the best agent to help them achieve their goals.
- Agree to do print marketing.
Print marketing is expensive and not very effective in today's digital world. Sellers are better off spending their marketing budget on online advertising and social media marketing. If a seller asks you to do print marketing, be polite but firm in declining. You can still offer to market their home through your website and social media channels, as well as through your brokerage's marketing network.
- Do not look like a "deer in the headlights" when you get questions/objections.
Sellers are going to have questions and objections. That's perfectly normal. The important thing is to be prepared to answer them honestly and confidently. If you don't know the answer to a question, don't be afraid to say so. But promise to get back to the seller with the answer as soon as possible. And if you get an objection, don't take it personally. Simply try to understand where the seller is coming from and address their concerns.
- Leave a listing appointment without asking for your prospect's business.
Once you've finished your presentation, it's important to ask the sellers for their business. Don't be afraid to close the deal. If you've done a good job, the sellers should be ready to sign with you. But if they're not, don't be discouraged. Simply thank them for their time and let them know that you're there for them if they have any questions or if they decide to move forward with the sale.
By avoiding these five mistakes, and using Y-LAS for your listings, you can increase your chances of winning the listing and getting your sellers the best possible price for their home.
