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The listing presentation is one of the top skills you can learn as a real estate agent. While there is more than one way to prepare, produce, and present your listing presentation, some of the basics will always Apply.
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Know your Market (Data), Know how to Price a Property to sell (Data, Product, Presentation, Scripts), Know how to handle objections (Scripts), Know how to close (Scripts).
Prepare for the listing presentation:
Preparing for a real estate listing presentation is very important. The time and energy that you put into it are important factors to whether or not the homeowner lets you list their house. Seven seconds.
That is how long it takes to make a first impression, whether it be a bad one or a good one. A real estate agent first impression needs to be outstanding so someone that is selling their home will list their home with them.
The appropriate plan and preparation will give you an advantage over their competition and earn the opportunity to sell the house of people that contact you.
Send A Pre Listing Packet
Make sure the “would be seller” is in your database completely. If you like, you can send a pre-listing presentation while you prepare. This is generally a packet about what will happen at the presentation, who you are, and how you are going to help them.
Sometimes people put them in a basket or send them digitally, even using video. In the pre-listing packet, you won’t include any
Prepare a CMA (Estimated Home Value)
Using the most recent sales and listings you can find, as close to the home’s location, age, size and style, determine what you believe the true market value is for that house.
Create a seller’s net sheet estimating costs and commissions so you know what the bottom line will probably be at that value. Consider preparing 3: low, goal, and high so that you are ready to present options if they don’t set the price “in the zone”.
It might be better to let the seller self discover the price based on data than it is to print the price on a piece of paper before you even see the property.
It’s a good idea to learn about the architecture of the home of their potential client as well as having knowledge of the homeowner’s neighborhood and the surrounding neighborhoods. Don’t forget the audience and remember to individualize your presentation to each client.
Tips for your CMA
- Know your market. The better you know the neighborhood and the properties you are going to show in your presentation, the more skilled, knowledgable, and trusted you will appear. If you can, pop by the comparable listings. Consider taking video or photographs so you can show their upgraded appliances, counters, built in’s etc.
- Throw out the extremes. A median is often better than an average. With an average, you are going to have those outliers in the mix that sold either way too low because of the sellers motivation or way to high because of something very specific the seller did to the home, or simply a motivated cash buyer was willing to pay more, for example. If you throw out the high and low or anything that looks suspect, you can reach a much closer estimate using the median price. Although again, it might be better to not set a price other than in your head, so you can help the seller self discover the price.
- Focus on the neighborhood listings. If at all possible, use properties closest to the sellers house. There are some places where simply crossing the street changes the value of the properties. If you can’t find enough, consider using a square foot method. Take the listings and sales in that neighborhood and average the square foot price. Take that average (or median) and multiply it times your seller’s square footage. In a “cookie cutter” housing market where houses are very similar, this is a working strategy. If houses are more unique, this probably won’t get you where you want to go.
- Use 90 day or newer sold properties. When you bring in sold listings to your CMA, that are older than 90 days, you may bring outdated pricing into your numbers. This is especially true in a seasonal market. Start with homes that sold within the last 30 first, then stretch to 60 and if you have to go to 90. If you have to pull in older than 90, you will need to explain why that sales price may not be what you achieve today.
- Use like models wherever possible. The best listing comparables in the sellers eyes, will be homes most like theirs. Single story vs two story, victorian home vs. mid century modern, home with a pool vs. home without a pool and so forth. The closer you can get, the more likely it is that your seller will determine the correct market value for their property.
- Consider the land. Square footage of the house is not the only thing to consider. People will often pay more for a property just for a bit (or a lot) more land. If you are including any listings that have a difference in lot size or acreage, adjust for it and explain it.
- Watch for special financing. Homes that sold as a short sale, or foreclosure may have a lower sales price to be considered while a home that was seller financed may have sold for more than market value.
- Keep your data simple. Bring your “proof” to the seller in formats they understand. An MLS full detail sheet may be overwhelming and even offer more data to “disprove”. Customize your comparables so they are easy for the seller to compare. A simple photo, quick property description: size, bedrooms, style, date sold is probably better than the detailed listings from the MLS print out.
Prepare to Present
You’ll want to have some sort of listing presentation that you feel confident with. This can be print, powerpoint, video, a one-sheet presentation, a binder, something you stack and so on.
The key is that you feel good about the flow of the presentation and how it will be used.
Products TO CREATE YOUR CUSTOM Presentation
- Canva is a great tool for uploading pictures, adding text and icons, making photo collages, and making a real estate listing look very pretty.
- Piktochart helps real estate agents make charts and graphs to show off numerical figures.
- Google Slides is similar to Powerpoint but it has more capabilities and designs available to use than Powerpoint does which allows an agent to make their presentation look as professional as possible. P
- Prezi makes it possible for real estate agents to show their listings, full background, and sales pitch to clients in a stylish and modern manner without any slideshows.
- Powtoon makes it possible for you to create animated video of your services to entertain and teach your clients at the same time.
- Present Me allows real estate agents to explain their presentation while a client views it on a mobile device. Slidedog has the capability of helping real estate agents create a playlist of their presentation, videos, and website so their clients can view them in a certain order and do not have to constantly switch in between screens.
- Keller williams offers listing presentations you can print from the eEdge dashboard. These Include a pre-listing presentation, a listing presentation for a single agent, a listing presentation for a team, and a prelisting presentation letter. Log into your eEdge account, click on Create Marketing, then Marketing Center, then Print Marketing. At the bottom, you’ll see the listing presentation under Featured Products. Or you can simply search for “listing presentation”
Here’s a Video on customizing your own Listing Presentation from the Keller Williams eEdge dashboard in MyKW
Practice your Scripts
You’ll want to be prepared to lead the presentation. Know how you want it to go, and have the scripts ready to get it there. If you allow the seller to lead the appointment, you’ll wind up with objections before you sit down at the kitchen table.
Practice role playing with friends, family, colleagues and be ready with whatever objections regarding price, commissions, timeline etc. that you may be hit with at the meeting.
Present yourself, not just the presentation
- Impressions count. Take the time to prepare yourself first. The rule of thumb is generally not to underdress or overdress. The seller will be expecting a professional, yet the full suit may not be appropriate when going to a starter home listing presentation. If a suit is truly who you are, and you wear one all the time, then that’s what you should do. If you live in a very casual, laid back area and everyone in town wears shorts or jeans and a tank top to dinner, then dressing that way may be appropriate as well. You’ll have to decide what works for you. No matter what, be clean, sharp, and know that you are going to be sized up.
- The first thing that a real estate agent should not do when meeting with a client is to be late. They should be early and treat it like they are being interviewed for a job-because they are. Avoiding any strong smells from cigarettes to a strong perfume is a good idea also. They also should not avoid doing their homework (finding out why the owners are selling their home, what condition the house is in, and what the homeowner’s to improve the condition of the home). Not paying attention to the client’s financial situation and not making their appointment important to them are bad ideas. A real estate should also have knowledge of the neighborhood and neighborhoods around the home and the architecture of the home.
- Be Organized, high energy, and put your cell phone away.
- Create rapport with the potential client.
- Acknowledge pets and children
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There may be a time when you can’t be together physically to do the presentation. Maybe the seller lives out of state and there is a tenant in the home. You won’t be meeting at the home and can do the presentation online. Possibly, your seller is in the military and is out of the country and wants to sell her condo she bought just out of college.
If you cannot meet with a client in person, consider Google Hangouts. Google Hangouts will allow you to show you presentation like they would in person. All that is needed is for all of the user’s (ten additional users can view the presentation) to have an internet connection and a Google account
Add on tips from Lori Ballen, Top Real Estate Agent in Las Vegas, NV
When I first learned how to do a real estate listings presentation in 2007, it was the following steps:
- Before the presentation, ask them how much they think their home is worth, or how much they would like to get
- Prepare 3 net sheets in advance: lowest price, medium, high.
- Go straight to the kitchen table
- Explain what you are about to present and how long it will take. Ask that they hold questions til the end.
- At this time, print advertising was everything. We had a “stack the value” process where we showed how we were going to market their home. We stacked magazines, and newspapers, and postcards so high that the stack was tipping over (intenionally). Now, we show more of how we are going to market their home on the web to get the most showings possible which can increase offers.
- Using a Pricing graph, after showing them the current listings, and recent sales, and home’s that did NOT sell (that’s key), ask them to place a pencil right about the price on the bar that they think their home will sell for. This allows THEM to set the price. If your data is delivered properly, they will self select the right price.
- Break out the net sheet that is closest to that price. Without breaking down every cost, show them the bottom line and ask them if that would work for them if you were able to procure a buyer, negotiate, and deliver that amount.
- If they say yes, stop talking and break out the paperwork.
- If they say no, you’ll begin objection handling.
– Lori Ballen