Do you have an answer to this question that you can succinctly summarize? Are there at least five differentiators that would bring value to a client? Do you have choices for the seller of levels of service and different fees depending on the services rendered?
Today’s markets are competitive, and the agent who can answer these questions is likely to thrive in the coming years, instead of just get by. If you have not re-strategized your services and the tools you use with sellers in the past year or two, chances are you are not getting as many of the listings as you should. If your close percentage is over 90% and you have all the saleable listings you want…this article is not meant for you. If that’s not the case, read on!
I moderated a wonderful panel in March at AAR’s Winter Conference in which I asked three top agents what they did to secure listings. If you haven’t read the article in July’s Arizona REALTOR® Magazine, it captures 16 Tips for a Killer Listing Presentation! Each of the agents on the panel had slightly different approaches, but all could clearly define technology tools and pricing approaches that gave them the edge. It is not just about getting listings, but having those listings be saleable! Honing the presentation skills to create confidence and using absorption rate pricing gave these agents an edge. Pre-listing packages were also a differentiator that saved the agent time in the process and impressed the sellers.
Could your skills use some fine tuning? A yearly review when you do your business plan is a good time to regularly take stock of what is working and what isn’t. If you don’t track your numbers, it’s much harder to know. A smart agent will know what marketing is working (only 2% of buyers find their homes through print advertising according to NAR’s2009 Home Buyer and Seller Profile) and shift their efforts to the areas where they can leverage the results and get the most bang for their time and money. Social media, blogging and websites are critically important these days since 90% of the public is starting their research online and 70% of those folks don’t have loyalty to a real estate agent!
Then, once you have a prospect:
- How well is your current approach working?
- What is the percentage of listings taken vs. listing appointments attended?
- What is your percentage of listings sold to listings taken?
- At what percentage of list price are your listings selling?
It’s a great time to do this re-evaluation and raise the bar in what you offer. Set aside some time this month to hone these skills and be ready as the markets continue to stabilize and recover. If you really want an advantage, I will be teaching the Seller Representative Specialist (SRS) designation class on July 15 and 16 for AAR and am looking forward to spending two whole days helping agents redefine and refine their service to sellers so that their businesses create lots of raving fans! We will be going through the whole process from prospecting to closing and looking at each step in light of today’s consumers and the current market.
It’s a perfect place to be for two hot July days to create hot business for the future!