Have you ever considered, why certain agents seem to get so many real estate listings? While sometimes, this may be, because of skills, reputation, effectiveness, personality, commitment, results, referrals, etc, haven’t there been certain times, you’ve wondered, why you didn’t get a particular listing, and someone else did? While it serves no purpose to look at this, from a negative perspective, the purpose of this article is not to become more adversarial, etc, but to assure, you provide homeowners (potential clients), with the information, they should receive, to make the best possible, informed decision. With that in mind, we will briefly discuss 6 important components, you should always include, in a listing presentation.
1. Competitive Market Analysis (CMA): What is a Competitive Market Analysis, often referred to, as a CMA? A professionally prepared one, should not merely be a listing of things which have sold, but rather, use comparable properties, to best pinpoint a suggested price range. In order to do so, one should follow a procedure somewhat similar, but in less detail, to that used by bank appraisers. What features does this house (known as Subject property) have, which the ones you compare it to (known as Comparable 1, 2, 3, etc)? What do the others possess, the subject property does not? Compare lot size and type, location, features, rooms, size, style, condition, etc.
2. Suggested Listing Price: While a homeowner must set the price he wishes his house to be listed at, it is incumbent upon a real estate professional, to clearly present information, which helps him make, the wisest decision. Remember, listing and selling prices are different, but often, the listing price, impacts how many potential buyers view the home, and how competitive, you may be. It might be helpful if the agent, therefore provided some sort of suggested pricing range, and reviewed the positives and negatives, especially concerning marketing and showings, each price, might affect.
3. Why you? Why should someone choose you to represent their best interests, in this transaction, which, for many is their single largest financial asset? Be careful to explain, in positive terms, what you offer, and avoid accusations, blaming others, or negatives! Review your approach, and why it matters!
4. Marketing plan: What will be your Marketing Plan, and why? Why do you believe this approach, makes sense for this particular property? Review both the homeowner’s, as well as the agents, responsibilities!
5. Strategies: Is there a niche market, you believe might be most attracted to the house, and why? How will you go after that segment of the market, while still pursuing the broader market? How will you assure, the client and agent, remain on the same page?
6. Meeting of the minds (agent/ homeowner): This procedure should be informative, both on a technical level, as well as a strategic, and getting to know you one! Don’t rush over, any aspect, explain fully and carefully, and have a frank discussion on what some fear most, the dreaded, Commission discussion!
A Listing Presentation must not merely be a selling experience, but also an opportunity, for a homeowner, to learn, which agent is best for him, and why! The client deserves, at the very least, a thorough review, of these 6 components.