Technology TransactionsPractice for the Big Game
There is an old adage that we make three listing appointments for every one we
actually go on. We make a presentation on the way to the appointment. We are
running through the presentation in our car on the way there. We make the
actual presentation live in front of the seller. The final one is usually on
the way home from the appointment. Which one of the three is usually the
best? Right-- the one on the way home. We have the opportunity to reflect and
say what we really should have said the moment we froze from their question or
objection. How do we make the one that truly counts the best?
Let me share with you a couple of ideas to make your presentation in front
of the client stronger.
Focus on the Price
Many speakers and trainers teach agents to leave the price for last. To
talk about yourself, the company and the marketing plan first. But...the
client’s first concern is price. That is what they are most interested
in. When we withhold that from them they can start to tune us out. My advice
is get to the bottom line. I believe this for two reasons: One for the clients
as I mentioned before, the other is for your benefit. If you find out in the
last 10 minutes that the clients are not going to reasonably price their home,
the presentation is over. You have really wasted the time you have spent with
them to that point. For me when they were unwilling or unable to price their
home to sell, my marketing plan did not any difference anyway. I could run ads
weekly, do open houses weekly, and every other marketing gimmick under the sun
and the home would not sell. The quality of my company did not matter. I
would politely excuse myself and move on. Price it right or you are wasting
your time.
Practice for the Big Game Daily
Most NFL teams will practice and look at film for 40-50 hours in a week for
one 60 minute game. They spend 50 times more in practice hours than in game
hours. What would happen if we adopted that strategy? We would become world
class at our listing presentations. If you practice 1 hour daily on your
presentation, in less than 6 months you would be unbeatable. Your presentation
would be second to none.
If you really want to be world-class, tape your presentation. Athletes
watch films of themselves to improve performance, so why not us? For the agent
who really wants to be the best of the best, this step is essential. Here are
a few things you will find out:
What and how well you are communicating;
How well you control the presentation through questions;
Whether or not you are over-promising services;
If you are strong enough on price; and
How well you handle objections.
Tape a presentation this week. Go home, pour a nice glass of wine, and sit
back and enjoy the show. You may be shocked by what you see yourself saying.
Be Prepared Before the Presentation
Prepare by knowing the numbers in your MLS. Know the statistics for monthly
sales in each price range. Know the statistics on homes that fail to sell.
Know your numbers and production and average market time. Use the statistics
to your advantage.
Develop a solid game plan. Get enough information before the appointment so
your quiver is fully loaded with all the arrows you need. Try to dig for the
objections you will face from the client before the meeting.
Abraham Lincoln said, "When I am getting ready to reason with a man, I spend
about one third of my time thinking about myself and what I am going to say and
two thirds thinking about him and what he is going to say."
Preparation will enable you to answer all the objections and issues raised
and close for them to sign the contract.
A solid focused listing presentation will enable you to increase your income
dramatically. You will be able to take more listings in less time. Do not
fall into the never-ending trap of making your best presentation in the car on
the way home. Make it when it really counts- in front of the client.