Be On Time And In The Right State
Be on time, be early and ultimately be in the right state. So, again, has there ever been a time where you showed up at a listing appointment and you were, ah, driving in your car and you’re totally late and you finally show up and you’re like, do I look okay? Is that the kind of state that you want your brain surgeon to show up in, your attorney to show up in? I certainly don’t want my real estate professional to show up that way. I want you to show up with a swagger, with great energy, feeling good, having reviewed everything inside your pre-qualifications to know what my needs are. So you show up entirely for me, on time, ideally early, and in the right physical and emotional state to be of service, to help me, as the homeowner, achieve my goals. You know what I’m talking about.
Present Your Stats
Present your marketing, your track record and your reviews first. Now, try on this little script. If I want to create a degree of separation, everybody wants to know one thing from you, what’s the value of my house, and then, how are you going to get there through marketing. We believe you start with your marketing plan, your track record, your proof of success, and then all of your reviews on whichever sites you use, to this you say, this is how we do it better and more, and here’s the numbers, here’s the data, here’s the stats, online, offline, and all those great things, with check closes along the way. Can you see that this is the kind of marketing that’s ultimately going to attract the right number of buyers to get the bidding war opportunity you desire, Mr. and Mrs. Seller? Of course you do. When they say yes, you know what happened, they just said yes to you. They said yes to listing.
Then you show them your track record, saying we’ve sold so many homes already in this area, myself, my team, our group, our company. Social proof, always good. And then reviews, here’s what other people are saying. Now, of course, we know what they want to do, they want to talk about price. And one of the greatest lines you can ever say is, Mr. and Mrs. Seller, I know you guys want me to get your price. But understand, you’re hiring me to market and negotiate the best possible transaction for you.
You want to present a three price strategy. Now, you might alter the language a little bit, but consider this, the average agent walks in and says, here’s the comps, here’s what’s sold, here’s what’s pending and here’s what’s going on, right. And that’s okay, right, it’s what we’ve always done, but you’re different, you’re a gamer. So you’ve got to have degrees of separation, you’ve got to have an obvious, well, you know, she was the only one that gave us the three prices versus everybody else gave us one, so consider, are you ready? Mr. and Mrs. Seller, we have to decide tonight in the marketing of your property when we unveil the home and do everything we’re going to do, to have the world see your house. Most importantly, the fifteen thousand avatar that I showed you on Facebook, we have to decide what pricing strategy we’re going to choose to get you the highest possible sale for your home.
So, number one is, the bidding war or frenzied price strategy, and this is where we know homes are selling at a price range of X, or a per square footage of Y, and we, we just price it slightly below that, and then guess what happens? I turn on the marketing and everybody goes, oh my goodness, it’s a deal. Mr. and Mrs. Seller, generally speaking, when people think there’s a deal and they hear that there’s multiple buyers writing offers on this property, what do you think happens to the price? Exactly.
Well, option number two, is we go right at fair market value and we simply look at the comps and we see the price trends, and we price it perfectly, and those properties sell in this market very quickly as well. And then obviously, you might say to me, but Tom, we’re really looking for you to find the n
eedle in the haystack. Now, I could say it that way. I don’t know if you got the swagger to say it that way. But, you know, Mr. and Mrs. Seller, many of my clients say to me, Tom, we want you to find the needle in the haystack. We want you to price the property that’s going to break every record ever in our community, and we just have to decide tonight, in order to maximize your price and get it done in the time frame you want, what’s the right pricing strategy for you. Now, again, I’d watch the, the deeper video I did on this to really go deep here. But understand like, there’s a lot of meat here, there’s a lot that you can do immediately to make little tweaks and adjustments to have you stand out, and that’s the game.
The Money Shot
You got to earn your fees. This is where we’ve seen tens of thousands of agents, in North America and for my European clients, you guys know it’s a little bit different, my Australian clients, you guys know it’s different too. But, in North America, there’s this compression of commissions happening every single day. And yet, great people like you say, wait a minute, if I can’t negotiate my own fees, how can I negotiate the final sales price for them? I’ve got to be stronger, so I’ve got to present a better case, I’ve got to show my value.
So, what do you do? You create the upside down pyramid and you say, Mr. and Mrs. Seller, when we’re deciding on commission, you’ve got to look at two different numbers. First, there’s the side that the agent that lists the home who’s going to spend all of the money and the time and the energy marketing and servicing the property, what do they charge? We charge three percent, and we do all of this marketing, and we have to decide tonight, what would you like to offer to the buy side? What would you like to offer to the buy side? And at this point, because they probably never seen this before, they’re going to scratch their head and say, well what do you recommend? We were kind of thinking five percent. How does that work? What if we only offer two over here? What happens? And you might want to say to them, well, again, the bigger the funnel, the more potential buyers, and most importantly, agents that might be working with those buyers, they’re going to see your property.
So, if this says, three percent, it’s going to elicit a certain emotional response for all those agents when they’re looking inside the MLS at, looking at your home versus showing another one where two point seven five, or two and a half, or two, might elicit a different response. So, we charge three percent, what would you like to offer the other side?
What I really want to stress to you is the same thing I stress to all of our coaching clients, what are you going to charge? You have to value your fees and make sure you’re getting what you want to run your business profitably, make it make sense for you, do all the things that you need to do, and make the profits you deserve for taking on the risk that you take. So, you can spend a lot of time on this one, and I certainly encourage you to do so.
Many of our clients will take this sheet, they’ll put it on their own branded logo and they might even laminate it and bring three or four copies, so when they go out on a presentation, to actually physically hand a copy to the seller and say again, here’s why you’re hiring me, I do all of this marketing, we charge three percent, what would you like to offer the other side? That’s powerful, that’s a game changing idea for you.
Can You Handle The Objections?
If you can’t handle the objections, you don’t deserve the listing. That’s right, I said it. If you’re going to walk out of that presentation scratching your head saying, why am I talking scratching your head so much, but you know what I mean. Like if you walk out of that presentation with kind of the age old line I used to teach a million years ago where I’d say, every real estate professional goes on a listing presentation, has four presentations. The first presentation is the one they make in their head on the drive over. I’m going to say this and I’m going to do this. Then there’s the second presentation, the one they actually make, blah, right, the stuff that comes out. Then there’s the third presentation, the one you make in your car, on your drive back to the office, like I should have said this, and I missed that, and I should have closed. And then there’s the fourth one, the one you lie and tell your broker, oh, I said this, this, this and this, but they were kind of jerky.
If you’re not handling the objections, if you’re not asking for the order, if you’re not helping them make an informed and educated decision, you’re not doing your job. There’s only one presentation that matters, and it’s you leaving it all on the table, right there, in the moment of truth. It’s the bottom of the ninth, the bases are loaded, and this is your chance to win, this is your opportunity to shine, and you and I both know, if you walk out, some knucklehead can walk in and get that listing, put it in the MLS and sell it in two seconds, and everything you did to get to that moment, because you didn’t handle the objection, you didn’t close, was for nothing. You with me on this?
So, handle their objections. I mean, it’s not like there’s anything new, we want to start at a higher price, we need to think it over, we’re talking to another agent, we need to pray, whatever it is, like you got to do and manage whatever it is, handle the objection and close, because if you leave without it, you know what happens.
If you don’t get it, what are you going to do in terms of follow-up? My recommendation is, give them an assignment. Look, I know that you guys are considering, you’re talking to other agents, I just want to encourage you, I want to remind you, go to pull up my reviews, and then go to any other agent you’re talking to and considering, and read their reviews.
Because at the end of the day, if you have a choice between, you know, a great brain surgeon, someone that does it all day, every day, and has a big track record of success, and someone else that maybe is just getting started, or somebody else that maybe doesn’t have reviews, you, you might begin to, even if you don’t like me as much, you might realize who you work with really matters.
So that’s it, it’s episode ten in the can. Thank you so much for watching. Do me a favor, I know I didn’t say it earlier, but give me some comments, tell me what’s going on, tell me what you’re thinking about, ask some questions. How can I help? I want to keep making this as relevant and real and valuable to you. And for you all of you that have been posting on Facebook or sending me messages on Twitter, or you know just via email and text and everything else, you know how much I appreciate you, thank you.
Strategy Matters and Passion Rules!