@Goumbik, 2017. pixabay.com

Resolve to Stop Losing Listings

Lee Davenport

Lee Davenport

By Lee Davenport

Listing Leader — Is this title on your New Year’s resolution list? How about on your business plan for this year? I’m here to tell you, that you can make it happen. Here are four considerations to help, but only if you’re willing to subscribe to the notion of “out with the old, in with the new.”

Out With the Old: Doing the Same Thing But Expecting Different Results

Are you frustrated with the number of listings you win? Are you really? I ask again because my next question will be very telling: Have you changed or improved your presentation after each failed listing appointment? If you say “no,” or “not often enough,” you may have fallen victim to what I call the “hamster wheel chase.” You do the same things when connecting with sellers, expecting to end up with different results. The first step is to improvement your listing appointments, and really, any area of life. Then, debrief with yourself (or team) after each listing appointment, good and bad.

@Goumbik, 2017. pixabay.com

@Goumbik, 2017. pixabay.com

In With the New: Reflection Time

These questions will guide you through refining your listing presentations. Feel free to add on to them.

1. What do you typically include in your listing presentations?
2. Does your presentation include strong answers for typical objections (including your rationale for your pricing strategy and commission)?
3. Have there been points where you could tell the seller was “checking out”? Think back to presentation points when you noticed the seller was fidgety, distracted by their phone or surroundings, eyes glazed over, yawning, etc.
4. What do you think is needed for a captivating presentation?
5. How much time do you think it takes to make a good impression with each seller?
6. Is its current format, is the look and feel of your presentation memorable?
7. What changes can you make to be more memorable? Do you need to find help to achieve this?

Out With the Old: Not Differentiating Your Listings’ Marketing Plan From Others

Sadly, many people think all a residential real estate salesperson does is snap a few photos for online sites and put a lawn sign in the yard. Even greater is the tragedy that this is, in fact, all some salespeople do. Yikes! But this creates a great opportunity for you to stand apart.

In With the New: Reflection Time

These questions will help you analyze your current marketing strategy and ways you can make improvements.

1. How do you promote your listings (including the resources offered by your realty firm)? How does this meet the needs of a seller?
2. Do you have a visual tool (i.e. a visual map in your listing presentation, etc.) that amplifies your marketing strategy without giving away the “secret sauce”? The “secret sauce” is how you market (that’s your trade secret – do not share this!) rather than what you use to market. When you give away the “secret sauce” the next logical step is you will not be needed.
3. How else can you express the intricacies of your marketing to sellers (again without giving away the “secret sauce”)?
4. Have you included glowing, five-star testimonies in your presentation that speak to your marketing prowess? If you’re a new agent, use reviews from your team or firm. What additional resources can you add that speak about who you are?

Out With the Old: Not Asking for a Decision Until You Receive One

You wait a few days to give the seller time to think.  You call back and hear, “I thought your presentation was great, and you’re my second choice, but I have listed my home with…”

What the what?!

You calmly respond, “No problem, feel free to call me if it doesn’t work out,” never to hear from that seller again.

When I coach agents who are superstars at all of the above, we often find they just do not ask for a decision AND follow-up. Two, three, four days go by without a peep from the home seller — OR from you. That allows Sally Sales-A-Lot to swoop in and win the listing instead of you. It’s time for you to change that.

In With the New! Reflection Time

1. If the seller is not ready to commit during the listing presentation, do you immediately schedule a time to follow-up? Hint, hint: You should! This simple step can often be the difference in winning the listing or not.
2. Do you know the seller’s timeframe to list and sell? Once you have this information, mark on your calendar D-day so that you give yourself a deadline for following up within the timeframe that they are open to entertaining salespeople.
3. Have you asked sellers how and when they prefer communication?
4. Are you using an app or software system (aka CRM) that helps you to automate follow-up?
5. If CRMs are too complicated or pricey for you, do you have someone who can help you with follow-up? This would include college interns, family, realty office staff who are allowed to work on agent projects, virtual assistants, and the like.

Sections of this post include excerpts from my book Plan to Win!

I would love to hear from you. Give me a shout on Facebook, Instagram, YouTube, and Google+, or by visiting LearnWithLee.Realtor. And, be sure to tell the real estate agents you know to get a copy of the 5-star rated workbook, Plan to Win!, to transform their real estate sales game plan. Here’s to your success.

Lee Davenport is an Atlanta-based real estate broker and business doctoral candidate who trains agents and brokerages on how to use today’s technology to work smarter. Join Lee’s free RE Tech Insider’s Club by visiting www.LearnWithLee.REALTOR.

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