Oct 20, 2020
In order to control the market,
real estate agents must know how to win more
listings.
Price Rainer, CFO and managing
partner of Berkshire Hathaway HomeServices Beach Properties of
Florida, will help you maximize your listing opportunities using
presentation, product, price, and people, as well as a plan of
action.
Understanding the transaction
- Be
armed with the facts for your presentation. What have prices done
in the area you’re working in, and how many houses have sold? Drill
down to sub-areas within the neighborhood to get a full
understanding of the activity. Using this information, find
four or five comparables in order to compare and contrast those
with the subject property.
- Consider the people who will be involved in the
transaction: Who are the potential buyers for this property? What
kind of person is listing the house? What are the particulars of
the transaction? Because of covid, many buyers who thought they
were purchasing investment property became people looking to buy a
primary home.
- Ask
the buyers what made them love the house when they first bought it.
It will help you identify who that house might appeal
to.
- Understand that transactions are different: In
cases where the seller is emotionally tied to the home, consider
taking some time to develop the selling price. If the buyer is
ready to go, advance the conversation by giving the price on the
spot. Have the listing agreement ready for either
possibility.
Current real estate market
- Evaluate the market
when you’re deciding which listings to take. Supply, demand, and
movements in price can change the landscape. If there aren’t a lot
of prime homes coming to the market, buyers might spend more for a
house that checks all the boxes for their
needs.
- Prep
your buyers for a pivot: if you haven’t had many showings or any
offers within the first month, that’s the market screaming that you
aren’t going to sell at that price. Discuss ahead of time the
possibility that you’ll need to re-evaluate
price.
Learning from lost listings
- Follow up with sellers
to find out if there’s anything you could have done differently to
win the listing. When you do, you’ll learn about how others are
succeeding and how you can sharpen your own
activities.
- Build
a plan of action that helps you build rapport with your customers
even as you work to earn their business.
- Lay
out your plan of action so that your buyers will understand it as
well as you do. Include marketing materials, dates, steps, and
activities.
- Avoid
the confusion that comes from failing to communicate. Confusion
promotes indecision, but confidence increases the likelihood of
moving forward.
“How to Win More Listings” episode
resources
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