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Monday, November 18, 2024

presentation skills

    Success as a real estate agent often hinges on negotiating effectively and delivering compelling listing presentations.

    For real estate agents looking to up their game and stand out in a competitive market, honing these skills is paramount.

    Negotiation Skills

    Negotiation lies at the heart of every real estate transaction, making it crucial for agents to master this art.

    Effective negotiation involves more than just haggling over prices; it requires clear communication, strategic thinking, and building rapport with clients and counterparties alike.

    Continuous education and training

    Sharpening negotiation skills as begins with a commitment to continuous learning and professional development.

    The Real Estate Times Series is shown above. To learn more, Click Here.

    Seek out specialized training programs, workshops, and seminars focused specifically on negotiation techniques tailored to the real estate industry. There are several options available through online platforms like Harvard Business School, Udemy, and various organizations nationwide. Or you can find endless YouTube videos, podcasts, and books dedicated to this subject.

    Additionally, consider joining professional organizations or networking groups where you can exchange insights and strategies with fellow real estate professionals.

    By staying informed about the latest trends and best practices in negotiation, you can enhance your ability to navigate complex transactions and achieve favorable outcomes for your clients.

    Practice and role-playing

    Like any skill, negotiation requires practice to master. Dedicate time to honing your negotiation skills through role-playing exercises and simulated scenarios.

    Practice negotiating various aspects of a real estate transaction, such as price, terms, and contingencies, with colleagues or mentors acting as clients or counterparties.

    Role-playing allows you to test different strategies, refine your communication techniques, and build confidence in your ability to negotiate effectively in real-world situations. Embrace feedback and constructive criticism to identify areas for improvement and fine-tune your approach over time.

    Understand client needs and market dynamics

    Effective negotiation in real estate hinges on a deep understanding of both your client’s objectives and the broader market dynamics at play.

    Take the time to listen to your client’s concerns, priorities, and preferences, and tailor your negotiation strategy accordingly.

    Conduct thorough research into market trends, comparable properties, and local market conditions to identify opportunities and anticipate potential challenges during negotiations.

    By aligning your approach with your client’s goals and leveraging your knowledge of the market, you can negotiate with confidence and achieve the best possible outcomes for your clients.

    Listing Presentation Skills

    A compelling listing presentation is key to winning clients and securing valuable listings.

    Begin by thoroughly researching the property and its neighborhood to understand its unique selling points and market value.

    Arrive at the presentation armed with data and insights that demonstrate your expertise and reassure the seller of your ability to represent their property effectively.

    Additionally, personalize your approach by considering the seller’s specific needs and motivations. Then, tailor your presentation to address their concerns, and highlight how you can meet their goals.

    Show don’t tell

    During the presentation, focus on building rapport and trust with the seller. Take the time to actively listen to their needs and preferences, and be prepared to address any questions or concerns they may have.

    Present yourself as a knowledgeable and trustworthy advisor who is committed to guiding them through the selling process with confidence.

    Utilize visual aids such as market trends, comparative market analyses, and professional marketing materials to support your arguments and showcase your dedication to achieving the best possible outcome for the seller.

    Value proposition

    Differentiate yourself from the competition by highlighting your unique value proposition and the benefits of working with you as their realtor.

    Emphasize your track record of success, your comprehensive marketing strategy, and your proactive approach to communication and negotiation.

    Share stories about successes with past clients, including challenging listings and how you overcame them.

    By investing time and effort into mastering negotiation and listing presentation skills, you can enhance your value proposition, win more clients, and achieve greater success in the competitive real estate industry.

    When you have time…below are some marketing tools to help support your success.

    1. Put Your Real Estate Business a Step Above with Your Own Branded Magazin

    Homes & Life Magazine is a customizable magazine with rich, full-color content and a sharp, professional aesthetic. It includes compelling, direct, response-driven articles written by real estate industry experts and engaging lifestyle content. Send out Homes & Life Magazine in Just Minutes – No Minimums Required. Or we’ll ship it to you. Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

    2. The Free 6-Month Done-For-You Strategic Marketing Planner

    The Real Estate Marketing Planner is a powerful 6-Month Guide that strategically defines what marketing to do and when. Four key market segments include niche Markets, geographic farming, sphere of influence, and past clients. – Click Here

    3. The Free Online Real Estate Business Plan

    The Real Estate Business Plan allows you to enter your business goals for the year and get a breakdown of how many prospects, listings, closings, and so on are needed to reach your financial goals.   – Click Here

    4. The Become a Listing Legend Free eBook 

    This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

    Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

      When I was buying a home a couple of years ago, I met with an agent at a nearby Starbucks. His entire buyer’s consultation consisted of trying to get me to sign a buyer’s agreement.

      No matter what I asked him about, from current market conditions to requesting a referral to a lender, it always came back to me having a pen shoved in my direction.

      No, he didn’t win me over as a client.

      Sure, it’s important to many buyers’ agents to get a signature on that agreement. But a little foreplay would’ve been nice and probably would’ve resulted in getting my signature.

      You have a lot of valuable information to impart, especially to first-time buyers. Providing excellent customer service demands that you share this information with potential clients. The payoff is a more relaxed client and a smoother transaction.

      The pandemic has us all going a bit stir crazy, but using the time to prepare yourself to be more customer-service oriented when it’s over is a wise move.

      Here’s a list of parts of the homebuyer process that confuse buyers the most. Use explanations of them in your consultation.

      What’s the local market like?

      Establish yourself as the local expert right out of the gate. Explain to your buyers that what they read in the national news about the housing market doesn’t necessarily pertain to the local market.

      Outline the difference between a buyers’ and sellers’ market and how they come about. Dive into current local market conditions and how it pertains to their home-shopping process. What will you do to help alleviate any market conditions that may be challenging for them?

      Finally, a thorough, easy-to-understand explanation of market value is in order. And, no, you don’t need to present these facts orally. An infographic or text explanation that they can take with them is even better.

      Mortgages confuse first-time homebuyers

      Nearly a quarter of first-time buyers haven’t seen a lender. They don’t know if they can even qualify for a mortgage let alone how much they can spend.

      Yet, they are out looking at homes for sale, according to a survey commissioned by Discover Financial Services.

      Crazy, right? Why are listing agents allowing non pre-approved buyers to tour their clients’ homes? Why aren’t buyers’ agents counselling their clients about the importance of seeing a lender?

      The dangers in the latter include buyers not knowing that they shouldn’t apply for credit or buy anything on credit. They don’t get that they shouldn’t change jobs and areg clueless about that second credit pull just before closing

      From application to underwriting and closing, your buying clients deserve an in-depth explanation of the mortgage process. If your preferred lender doesn’t supply this (and most don’t), then it’s up to you to do so.

      That downright scary home inspection report

      The chances are pretty good that most first-time homebuyers have never seen a home inspection report. Pity, because it would help prepare them for what is to come.

      From photos enlarged to super-giant-size to technical jargon that nobody outside of the construction industry understands, the results of a home inspection appear to most buyers as big, fat dollar signs flying out the window.

      Let your buying clients know that:

      • Although the report may seem nit-picky, the inspector is tasked with being thorough.
      • Problems in photos may appear far worse than they actually are.
      • If something big does turn up, “we can handle it.” Let your clients know their options (walking away from the deal, negotiating with the seller for repairs, etc.).

      HOAs and their documents

      Gotta love that mountain of paperwork the HOA provides buyers of homes in managed communities.

      Filled with legalese, it’s almost impossible for the average buyer to know, first, what to look for, and, second, how to decipher the information when she finds it.

      As an agent, your best course of action is to outline the typical docs in a HOA package, highlighting the ones that buyers should pay close attention to.

      Then, urge them to run the whole package by an attorney. Unless you are one, of course.

      Staying home, as we’ve all been urged to do, doesn’t have to be filled with long days binging on Netflix or catching up on home maintenance chores. Take some time to work on the parts of your real estate business that you’ve let fall by the wayside.

      Send a The Clean-Your-Plate-Pancake recipe postcard from the COVID-19 Series to an area where you want more listings.

      Need help targeting a specific niche of buyers or sellers? Use our mailing list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!

      PLUS: When you have time…here are some Free resources we’ve made available to support your success.

      1. The Free Real Estate Mailing List Guide

      The Real Estate Mailing List Guide outlines the top tools for generating targeted mailing lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. – Click Here

      2. The 12 Month Done-For-You Strategic Marketing Plan

      The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

      3. Become a Listing Legend Free eBook 

      Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

      4. The Free Online ROI Calculator

      Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here

      5. The Real Estate Marketing Guide “CRUSH IT” 

      The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted mailing list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here

      Presentations that close

      You can blink your eye three times in the time it takes a person to judge your trustworthiness and competence just by looking at your face, according to research conducted by Princeton University.

      Yet, the real estate industry is confounded that most real estate consumers go with the first agent they meet and that so many homeowners spend only one day choosing a listing agent.

      As with all things real estate, time is of the essence during the listing appointment, so let’s take a look at how you can ensure the homeowner’s first impression is a winning one.

      It starts with fact gathering

      Whether it’s a cold call or a response to a Free Offer postcard, how you handle that first contact with a potential seller will pave the way to a successful listing presentation. In fact, this is the time to gather as much information as possible about the home and the owner.

      The National Association of Realtors offers a list of questions to have ready for your next listing appointment:

      • Why are you selling your home?
      • How soon do you need to sell?
      • Do you have a ballpark price in mind?
      • Tell me about your home – how long you’ve lived there, what you like best about it and whether you’ve performed any renovations or major repairs.
      • In your opinion, what makes your home different from others in the neighborhood?

      When you set the appointment, let the homeowner know that all decision-makers should be present.

      Before compiling the CMA, take a tour of every home currently for sale in the seller’s neighborhood and a drive-by of sold comps.

      As most listing agents know, potential home sellers are keenly aware of current listings in the area and will many times bring them up during a listing appointment. Rather than being embarrassed that the homeowner knows the local market better than you do, be the agent who is completely up-to-date on the local market.

      Now you have the information necessary to put together the CMA. For the rookies out there, here is a list of quick tips to help you out with that:

      • Generics won’t make you stand out. Every home and every seller is different. Customize your presentation to a specific home and neighborhood.
      • Even if you use a digital presentation, ensure that everything in your hard copy is professionally printed. Your competition won’t bother using the color printer, which is why you must. From your branding to the graphics and photos, color grabs attention and gives the impression that marketing is your forte.
      Powerful first impressions

      Remember how quickly we form first impressions? One of the best ways to ruin your chances is by being late for the listing appointment. No excuse on earth will work just show up on time. Before you leave your car, turn off your phone, take a deep breath and relax. Remind yourself to smile and make eye contact as the homeowner opens the door.

      Steer the participants to a place where it will be easier to maintain eye contact with everyone who is present. A round dining table is ideal. Then, break the ice with a statement such as, “Driving over here, I was thinking about how excited I am about this meeting,” this lets them know that you’re confident and have exciting things to share.

      Another suggested ice-breaker is to ask a question. Engaging the homeowners immediately will help you make a quick connection. While every listing agent is different in how they conduct a listing presentation, most that we’ve spoken with share the following:

      Homeowners want to know that you’re truly listening to them. Making eye contact conveys that and taking notes as they speak shows you are serious about remembering what they’re saying.

      Assume the close

      While some agents we’ve spoken with wait until the end of the presentation to assume the close, others do so throughout the presentation.

      Here’s a brilliant example we read about at ActiveRain. Draw up two lists of services – one the basics, and one with the extra services you offer your listing clients.

      Then, when explaining your services during the presentation, start with the basics – the stuff that is standard in your area. Then, whip out the second list and, as you tick them off, stop occasionally to ask if this is a service they want you to provide.

      For instance, “Will you want aerial photography as well as the 3-D home tour?” Or “Do you want me to hold open houses?”

      Although we don’t expect these tips to be everything required to beat the listing presentation willies, they offer ideas on how to prepare. And, knowing you’re prepared is calming. And, when you’re calm, you’re confident and unbeatable!

      Send out at least 100 Free Market Statistics postcards from the Call to Action Series to an area where you would like more listings and get that killer presentation ready.

      Need help targeting the perfect niche of buyers or sellers? Use our mailing list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!

      PLUS: When you have time…here are 4 free ways we can help you have an INVINCIBLE 2019!

      1. Become a Listing Legend Free eBook 

      Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here 

       

      2. The Free One-Page Real Estate Business Plan

      Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan  – Click Here

       

      3. The 12 Month Done-For-You Strategic Marketing Plan

      The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Listing Inventory, Geographic Farming, and Sphere of Influence – Click Here

       

      4. The Free Online ROI Calculator

       Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! – Click Here

      Also…check out these game-changing tools!

       Three Click Postcards – Just snap a home photo & create a postcard all from your mobile phone

      MLSmailings.com – Automated Just Listed, Just Sold Postcards

      Market Dominator System – Become a neighborhood brand & achieve 20% market share

      Want to Refer a friend or colleague? Refer them, Here. THEY get a Free $25 Gift Card and YOU become their hero. BTW, you also get a $25 Gift Card too (now that’s what I’m talking about)!

      Our business flourishes from recommendations just like yours and we truly appreciate your review of our products and services – Review us here 

      How not to scare away internet inquires

      Have you ever noticed how making cold calls is a lot like writer’s block? Stare at the phone/blank page? Check.

      Thoughts of others being critical of you running through your head? Check.

      A huge wall between yourself and anything intelligent you might say/write? Yup.

      Even though following up with an internet inquiry should be at least lukewarm, many of us go through the same intimidation we feel with the icy ones.

      But it doesn’t have to be that way. Not if you remind yourself that the internet inquiry on the other end of the phone asked to be contacted. That should cure at least the initial paralysis.

      Then, come up with a system that not only lends itself to increase your comfort level but effectively captures that inquiry.

      It’s all in the timing

      To transform an inquiry into a client requires building a relationship. The first contact, then, is critical. And, a speedy return call almost guarantees that you’ll connect with the inquiry.

      A couple of years ago, Steve Olenski at Forbes.com mentioned a study that found the odds of reaching an inquiry decays significantly over time. Reach out within five minutes of receipt of the inquiry and your luck is at its highest.

      Wait 30 minutes, however, and you are 100 times less likely to reach him or her.

      Wait 5 hours and you may as well not even pick up the phone because you’re are 3,000 times less likely to reach the person than if you’d called within five minutes.

      Achieving contact with an online inquiry is only part of a successful conversion campaign, however. Qualifying the inquiry – getting him or her to agree to work with you – has its own follow-up rules.

      For instance, a study conducted by James Oldroyd, a professor at MIT, focused on figuring out not only when to follow up with an online inquiry, but the inquiry generating methods that resulted in the best conversion rates.

      For instance, blogging and social networking delivered far more qualified inquiries than pay-per-click advertising. Another interesting finding is that inquiries captured by offering a book (either traditional or electronic) resulted in the highest conversion rate.

      But, we digress. The study finds that the best conversion rates come from subsequent follow-up calls placed on Thursday between 9 a.m. and 11 a.m. The worst time? 1 p.m. to 2 p.m.

      Ok, so what do I say?

      Since we learn best from our mistakes, let’s talk about what not to say.

      • Don’t talk about yourself—how much in dollars or how many deals you do, your designations, your integrity or anything else that these inquiries truly, honestly don’t care about.
      • Don’t beat him or her up by trying to set an appointment. This is an informational call, so be a counselor, not a salesperson.
      • Don’t make the follow-up call unless you have all of the inquiry’s pertinent information in front of you. This includes what he or she is looking for (to buy or sell), the type of home, neighborhood and the specific property viewed.
      Ok, so here is what you should talk about.

      First, identify yourself and remind the inquiry that you are returning his or her call. If the inquiry is a buyer, calling about a particular property, you should jump right into offering information about it.

      Then, shut up.

      When you listen, you’ll learn whether or not the inquiry is agreeable to staying on the phone with you. If so, you can begin asking questions – gently.

      These include questions about the inquiry’s timeline (“When do you plan on moving?”), whether or not he or she will need to sell a home before buying this one and other qualifying questions.

      Finally, let the inquiry know that you aren’t like the others he or she has reached out to – you won’t be relentlessly bothering him. Ask about a preferred contact method and then get permission to use it. Then, use it.

      A sample intro

      “Hi Jack, this is Anita Deal with ABC Properties. I’m following up on your request for more information to find out how I can help. I notice you’re looking at homes in the University neighborhood. Is that correct?”

      This ought to get the conversation off and running.

      Let’s wrap it up

      There’s an old saying among radio deejays that, before they open the mic, they should always know how they’ll close. This way, if they get lost in their thoughts, they can always throw out their closing line, whether it’s the call letters or something else.

      The same holds true for the follow-up call. Will you be offering the inquiry an incentive (CMA, e-book, etc.) for further contact? This is the ideal time to bring it up.

      “I wrote an eBook covering the home selling process. Can I email you a copy?”

      Or, “I’d love to send you a University neighborhood market report. Should I email it or drop it off?”

      Once you have permission to keep in touch, remind the inquiry that you’ll be sending information on properties that match his or her needs, neighborhood-specific information or anything else you think may be of value to the inquiry.

      And, end with a reminder to call you if they find a home they want to view. “I’m happy to set up an appointment for us to walk through the home.”

      With internet-generated inquiries, time is of the essence. Don’t let your online inquiries go cold, don’t be pushy in the conversation and always offer value.

      Take a look at the inquiries you’ve made contact with over the last few years (internet or other). Compile a list and send at least 100 Free Market Analysis Postcards to them.

      Need assistance taking your marketing to the next level?  Call our support team at 866.405.3638 today!  

      PLUS: Whenever you have a moment…here are 3 things to check out that will help you CRUSH IT in 2018!

      1. The Free 2018 Real Estate Business Plan

      Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan – Click Here

      2. The Online ROI Calculator

      Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! – Click Here

      3. The 12 Month Done-For-You Strategic Marketing Plan

      The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Listing Inventory, Geographic Farming, and Sphere of Influence – Click Here

      Also…check these out 🙂

      3 Click Postcards – Just snap, tap, send all from your mobile phone

      MLS Mailings – Automated Just Listed, Just Sold Postcards

      Market Dominator System – Become a neighborhood brand

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