If your listing presentation is a “dog and pony show” you are so behind the times. What do I mean by “dog and pony show?” If your presentation starts out with bragging about you and your company; that’s a dog and pony show presentation.
Keep the presentation focused on why they called. Did they ask for someone to come over and talk about themselves or was it more like “I want someone to tell me what my house is worth.”
So, what are you to do? Simple … answer the question. Get right to the point. Start your presentation with one piece of paper and that’s the Pricing Proposal Letter, which shows the suggested Range of Value.
Here are a few “Ask Suzanne” Tips:
1. Use a laptop during your presentation – it’s expected by today’s consumers
2. Get a wireless internet card, also called an air card, for your laptop. This will let you…
3. …go live to the Internet and take the sellers on a virtual tour of your comps. Show the comps on a map. This can be done with any number of free services online, but my favorite is www.BatchGeo.com. Just set your Groups to “Active,” and “Sold,” listings and you’re set.
4. In addition to your regular CMA, prepare a CMA in the next Price Point above the suggested Range of Value in your pricing proposal letter. If the sellers push back on the suggested range, show them what buyers in the higher Price Point expect to get for their money. A picture is worth a thousand words!
5. Pull the local housing data for both price points (Suggested Charts: Months of Supply, Days on Market, Price Per Sq. Ft. and Median Sales Price). But remember, your goal is to educate, not browbeat or make them feel badly about their current property.
With minimal explanation you should be able to educate the sellers on a realistic and acceptable list price. If you cannot, if they are unreceptive to reality and insist on overpricing the property, politely thank them for their time and walk away. Do not take an overpriced listing! And don’t be surprised if, as you gather your things and prepare to leave, they stop you and “reconsider.”
Once you secure the listing suggest that the sellers get an independent appraisal of the property. Why?
- If you did your job right, it will justify the listing price.
- It could be extremely beneficial during the negotiating process.
- It will help to counter the bank appraisal if it comes in low for some reason.
If you speak to the facts you will always be in control.