Did you know that most agents hate doing Listing Presentations? Yep, even the experienced ones…the ones that look like they have their business together, the ones you envy, the one you aspire to be…they hate Listing Presentations! I get it (I’ve lived it!); Listing Presentations are emotionally hard.
What do I mean? Let’s say you embrace the need to be a Listing Agent. You know how beneficial listings are to your business but you are a little uncomfortable doing your presentation. Or many times after going to a Listing Presentation you feel institutionally that it did not go well. This has happened to me so many times. I come home from a Listing Presentation and I just know something wasn’t right. Worse was when I thought I was smokin’ good and still didn’t get the listing.
My natural instinct was to become snarky. First, at the seller (i.e. they aren’t very serious, they are making stupid decisions, etc.) and then unfortunately, snarky to myself. Bottom Line: this felt bad so I drifted back toward Buyers.
Given that, to be a Great Listing Agent requires consistent evaluation and improvement, it’s the method to improvement that is at issue. To grow from your mistakes the keys are: identify the areas for improvement (unemotionally vs. snarky), evaluate how to improve and implement the changes.
That brings me to this question: How do you know what is a mistake? After all, sellers don’t really tell you the whole truth about that. Much of the time we make an excuse like ‘the other agent brought a higher price’.
That’s where I come in…there are 12 common mistakes that agents make in a Listing Presentation. I discovered this list when acting as a ‘fake seller’ in over 200 Listing Presentations and began compiling lists of things NOT do to in a Listing Presentation. That’s why I’ve created this 3-part blog series called “STOP Making These 12 Listing Presentation Mistakes that Destroy Your Confidence“.
But before you begin reading Part 1, here’s my suggestion: Consider each mistake and determine if you are making it. If so, create a plan for changing that. I have several resources in my blogs that will help you.
Okay, here we go with the first 4 Common Listing Presentation Mistakes that Destroy Your Confidence:
Mistake #12 – Did not methodically build TRUST:
Very often when I ask agents, “How do you build TRUST with a client?”, I hear responses like, “Make eye contact” or “Do what you say you are going to do”. And while I agree with those responses, I also believe that building TRUST is sooooooo important that a more proactive approach is necessary. Enter the Pre-Listing Package.
I don’t believe in the traditional pre-listing package. You know the one stuffed with information about your company. Rather, I believe that a Pre-Listing Package should be stuffed with information about YOU! Information that builds your credibility and begins establishing trust. Not sure what to put in your Pre-Listing Package? Click here to see my list.
Mistake #11 – Did not identify the “type” of Seller before the Listing Presentation
I admit it…early in my career I would go into a Seller’s house and wing it without concern for the type of Seller. A better method is during your initial contact with the Seller identifying the type of Seller. This is because your presentation is different based on the type. The types are:
- Competing – This is a Seller who is interviewing multiple agents. How do you know? Typically, they will tell you…this is advantageous to them. But if you suspect this is competition and haven’t been told – simply ask.
- Sure Thing – This is a Seller who does not intend on interviewing anyone but rather prefers to list with you. Likely, you have done business with them in the past and they already know and trust you.
- Fishing – This is a Seller who is super focused on you providing an estimated Sales Price. You can tell because they mention the need for a price several times. Red flags should be going off in your head. Why? It’s possible they are ill-intentioned (i.e. plan to FSBO, need to refi, etc.)
Mistake #10 – Thought about the initial phone call ONLY about setting the appointment
The initial contact you have with the Seller is critically important. In addition to establishing date and time, use this conversation to start differentiating yourself from the competition, establish an agenda, demonstrate your personal brand and give the Seller homework. Yes, homework! Why? This activity (or lack of activity) is a great indicator of motivation.
Mistake #9 – Talked Too Much
Okay, you’re a little nervous…..it’s natural to try to hide that by talking. I know what I’m about to say is counter-intuitive but selling is about shutting up and listening. Only by listening to the seller’s needs can yo propose an authentic and thoughtful solution based on their needs. I had a mentor who used to say, “You can only answer a person’s prayers once you know what they are praying for”.
Okay, there’s the first four Listing Presentation Mistakes that Destroy Your Confidence. Now take these actions:
- Click here to download the Pre-Listing Presentation Checklist.
- Review the 4 Mistakes above and ask yourself which ones are you doing and how can you change it?