Last week, we started the 3 Part Series: Top 12 Listing Presentation Mistakes that Destroy Your Confidence”. (Click here if you missed it for Mistakes 9-12).
Okay, here we go with the next four mistakes….
Mistake #8: Did not dive deep to discover the seller’s motivation and pain
In all of these hundreds of listing presentation reviews I have completed there this was a major problem. There were only two motivation questions consistently asked, “Where are you going?” and “When do you need to be there?”
Great questions but logistical in nature and inadequate. Neither helped you understand the pain of the seller.
I have two recommendations. First, have a formalized process during the presentation to understand the motivation of the seller. Often the questions were asked casually as part of another process like when setting up the appointment or part of the tour. What is a better approach? Stop, pull out a list of questions, and interview the seller. Remember, you are interviewing them just as much as they are interviewing you.
Secondly, have a list of questions written out that are important to you understanding the DNA desire, need, and ability to sell) of the seller. These questions should be open-ended, on paper with space for you to write down the answer, which indicates you are listening. If you would like a copy of my report “The What, Why, and How of Discovering the Seller’s Motivation”, click here.
If the seller has motivation issues (i.e. “if it doesn’t sell I’ll just wait till next year”) you are about to sink a lot of time, energy, enthusiasm, and money into a seller that doesn’t care. Bummer.
Mistake #7: Did not anticipate objections
If you have been around me any length of time you have discovered that I am obsessed with the idea of getting rid of objections before they come up.
There’s a set of objections that are routine in virtually every interaction with a seller…can we talk about price first, my Zestimate is….., my house is the best one on the planet, etc.
If you wait for the objection to come up, the objection will have more energy than if you bring it up first. Or worse, the seller is thinking it and doesn’t say it.
Take hold of the objection and drag is out in the open then you have control of the conversation.
If you haven’t seen my planning sheet called Kill the Lizard, which details this process, download it here.
Mistake #6 Doesn’t have any game a.k.a. sales skills
It’s a conundrum. Most agents I know are dedicated to serving home buyers and home sellers not selling to them. Why else would you go into this crazy profession of getting into cars with strangers not knowing if you will get paid?
But a point that is overlooked is in order to service people we have to have skills that allow us to influence people. These are known as sales skills.
Before you panic at this idea, here’s a list of the most important skills:
#1 – Overcome an objection
#2 – Kill a lizard (see #7)
#3 – Write a script
#4 – Use the six magic words (showing the seller the benefit of something)
#5 – Delivering negative information without a negative reaction
#6 – Show them the gap in their thinking without a negative reaction
This process is emotional for the seller. Emotional people don’t make good decisions so you have to be skilled in moving them through all the decisions and complications easily. That’s what those six skills do.
Mistake #5: Being to nice
I have to say agents being too nice is my pet peeve. Let me make my argument. First, when an agent is too nice he/she is giving in to the wants of the seller, who has no idea what should be done in a transaction. Bad idea. Secondly, giving in to the seller means allowing the seller to be the leader and the agent the follower. Sellers don’t hire followers. Third, being too nice means allowing the seller to make bad decisions without stopping them. Would you allow a child to drink Clorox? Of course not, so why allow a seller to make a decision that wrecks their equity?
And finally, please note I said too nice, not nice. Of course you should be likable but be careful…
Okay, those are Mistakes #8 through #5 of the Top 12 Listing Presentation Mistakes That Kill Your Confidence.
It’s time for you to take action by doing the following:
- Download the “The What, Why, and How of Discovering the Seller’s Motivation” by clicking here
- Download “Kill the Lizard Planning Sheet”, which reviews how to overcome an objection before it happens
Thanks for attending another Strategy Session! See you next week for Mistakes 4 through 1.