- Adapt and reinforce Seller's concept that
there is no other home like theirs on the market. Their home is unique and
special. Thus, you become their ally to overcome price objections as well
as any other objections from the market place or buyers. Your enthusiasm will
also help build rapport.
- Take the attitude that "we are here to
interview each other". We need to uncover the Seller's motivation as well
as documenting their financial position. Evaluate the Seller's level of expertise
on the first contact.
- Be totally prepared by knowing the area as
well as having the data to support what you say. When discussing the comparable
sales, use the names of other owners in the area. Be able to state whether
you are in a seller's market, buyer's market, or "flat market".
Have the written CMA data to support it.
- Assure the client that you will be responsible
for handling the transaction. Tell them, "I'll worry, not you."
- Identify something that you as an agent or
we as a company do that is different and offer it to the Seller. For example,
it could be an email newsletter, a unique web site, or a video of the Seller's
home. Or you could send a flyer of their property to all homes that are listed
in their area that are the same price range as theirs. Other sellers may be
interested in buying your home when they sell theirs.
- "Prequalify" the Seller during your
initial phone conversation. Send a pre-listing package that includes the CMA
and your plan of action. Customize your presentation to fit the type of client
with whom you are dealing. At the actual presentation, just walk through and
present the CMA.
- Use pricing "brackets". This includes
a discussion of how buyers approach and compare the seller's house to others
in the same price range. In order to sell, the property must be the most attractive
option for the buyer in that price range--not the least attractive. If the
market says that your property should be listed at $125,000 and you choose
to list at $140,000, the buyers will be comparing your home to other homes
in the $140,000 range as well as other homes that may be priced as high as
$150-160,000. Some of these homes may be actually worth in the mid or high
150's and your home will appear to be one of the least attractive choices.
- Show the Seller how a 7% commission can
help them to get a higher price. Since over 70% of the homes are sold by other
agents, placing the commission at 7% will cause the buyers' agents to consider
showing your property first. This cuts down on market time, creates more competition,
and often results in lower carrying costs for the seller: the result--more
"net" dollars the seller.
- Call to confirm the appointment and the
time. During that call, determine their main objectives (or needs) so that
you can be sure to overcome any problems during your presentation.
- Be the last broker in when interviewing.
If you find out after you get there that they are interviewing other agents,
request that you come back when they have finished interviewing the other
agents before they make their final decision.
