You wanna know the top search term that brings new surfers to my website? Okay, there are two. The first is "New agent announcement letter." The second is "Sample listing presentation."
I offer a free sample listing presentation on my website if you join my VIP Lounge (that's free, too). Seems to be a popular item. I'm rather proud of my listing presentation - there's nothing boiler-plate or corporate about it - it's direct and to-the-point, conversational and informative. I've used it, or a similar version for years.
But over the last year or so I've been rethinking the idea of a formal listing presentation (Are listing presentations really necessary... or effective?). I've been experimenting with not doing it and have walked away from my listing appointments much more pleased with myself. But I wasn't sure... for sure.
Well, this last week, I met with a real estate agent in Dothan, Alabama to talk about selling one of my properties (the one where the squatter renter was FINALLY evicted!). She came to the house and asked me to show her around. She asked questions and actually listened to my (sometimes long-winded) answers. She took notes. As we toured, she casually mentioned other homes she'd seen or sold recently that were comparable to mine. Because she knew I was also in the biz, she respectfully asked for my thoughts on a marketing strategy. And listened.
After I was done showing her the house and grounds, she said she wanted to go back to the office and do her homework, now that she'd seen the property. She'd be ready to present her findings the next day if that was okay with me. It was and she did and I hired her.
No presentation. No fancy graphs or charts. No bio, resume or testimonials. Just a subtly demonstrated knowledge of the marketplace, a sincere interest in my situation and a respectful acknowledgment of my intelligence and experience. Had she shown up with a 90-minute formal presentation of how wonderful she was, how awesome her company is and how dangerous it is to OVERPRICE, I'd have tuned her out within 5 minutes.
Do I know her marketing plan? Oops, no, not really. I suppose I could ask and maybe I should. But her non-salespitchy "presentation" made me trust her.
Now, truth be told, this sort of quiet confidence takes awhile to develop. I certainly didn't have it my first year or even my second; maybe even my third. Well, heck, here I am in my 12th year just realizing that I don't need a fancy presentation!
I do believe that the process of creating a formal presentation is good for the soul - it helps you to figure out what you offer and why you're special, and for the times when a seller seems to want something in writing, you have it ready to go. I have much of my presentation available on my website, so sellers can check me out ahead of time or after they've met me.
But during that hour you're meeting with a seller for the first time, it's far more effective to just BE there with them... asking questions, listening to the answers and demonstrating your competence.
So... I have my answer. No More Listing Presentations for me!
I like it. I also got in the biz 12 yrs ago. The first listing I went out for, I had my big binder in hand and started to go through it. I had done about 2 minutes worth and the customer sort of looked away and rolled his eyes. I closed the book and got the listing. I have since used a shorter version, but I like the idea of none. However, I do think a leave behind is helpful
I think that is some really good advice, but I also believe that what/if/how much of a listing presentation you do will depend on the situation and the individuals involved. But I agree that the canned approach is seldom the best approach.
I tend to agree with you. I naturally have all the information to answer any questions, but I ditched the "formal' presentation. I have a conversation with my potential clients and we tend to have a good time. I get 95% of my listings after we meet. (You can't please everyone and I don't want to work with everyone)
It's good to leave a pre-listing appointment package, or refer them to a presentation on your website. If you have all the answers available and are comfortable with them, it's much easier to respond to the individual you're with and cover what they want, how they want it - the Platinum Rule of a listing presentation.
Most of my clients are on a referral basis now, and bring materials with me. However it is no longer on that formal level.
I'm newer to the biz that many of you and can see the wisdom of not doing a presentation. Yet, I can also see the wisdom for some of us that are newer to present, in order to make sure we don't forget anything.
Vicki- I believe that a listing presentation is probably a good idea for new agents. Although I might also suggest that on your first several appts that you listen more than you talk. It's amazing how smart people will think YOU are if you let them talk!
Carol - That's what actually got me started on this track - I was meeting with a past client last spring and it was so uncomfortable doing a "presentation" with her.
Sharon - I agree - sometimes I'll drop off my written presentation, but I find that it's rarely read. HOwever, I do think it's professional to provide the information and if its well-presented, it makes you look good!
David - 95% is pretty hot!
Janna - it's so cool when you're on the other end of the deal and get an idea of what our own seller prospects go thru.
Linda - Good for you for noticing your client's boredom and changing gears!
The only things I walk into a listing presentation with now are my camera and my notepad. The neighborhood comps are in my head, because I've already done that research. The notepad is to make sure I don't forget anything and the camera is to take on the spot photos to gently nudge them if needed to make changes to the house.
I put together an entire portfolio when I was a new agent and found it years later, gathering dust under my desk. That's just not me - I felt like a vinyl siding salesman with samples instead of someone that a seller would trust.
I totally agree with you you have to let the sellers speak and listen to them. If you feel they need a presentation with all the facts and figures then give it to them. Let the seller lead the way they will let you know what they want if you only listen............that's the key.
So true ! Having that quiet confidence as a listing agent is great. Sometimes I have all the written info ready but never use them at a listing appointment. Sometimes it is necessary, other times it is not. It depends on the client/consumer. I think after meeting with someone you can tell if someone wants to go into that type of meeting versus the folks who just want a trusted advisor and already know the comps and so forth. It all depends !
On another note, congrats on getting that tenant out and good luck with the sale ! Is a great feeling when you can move foward in your own personal goals !
I agree that a listing presentation per se may not be necessary. Thanks to one of my CRS courses, I developed a pre-listing packet that details my marketing services and advice to the sellers about three important things they control - price, condition, and accessibility. I haven't yet had the opportunity to drop it off prior to the listing appointment, but always leave it with the seller to read at their leisure. I find it much more effective to ask questions and listen. I also take notes.
Jennifer: I find it kind of interesting that the listing non-presentation presentation described in your post is pretty much what I have been doing for years. even up to using the phrase "do my homework"... because of my high school teaching background.
It has worked very well for me. Most of the people I work with seem to like my "homey" approach rather than my using some pre-done flip-chart or a power-point presentation. As usual... thanks so much for sharing.
No matter how great the listing presentation is, if you don't present yourself as a knowledgeable and professiona agent, the client will not want to hire you.
Happy New Year!
Jennifer: I just love your comment above to Vicki... "It's amazing how smart people will think YOU are i you let them talk!" How very true !
Jennifer - I tend to list those who come directly to me. I think formal presentations tend to let the sellers know you a bit more, but sellers pick the agent they are more compatible with, not necessarily based on the presentation, anyway. I do think it's a good idea to have a presentation, however.
My listing presentation has evolved greatly over the last 5 years. I still have a few templated aspects of it, but it's not 'canned' like it used to be.
I haven't done a listing presentation in a VERY long time. It is a beautiful thing. Most of my sellers are referrals so no need to prove anything...just get the job done:)
There's a fine line, though, between a non-presentation style and being unprepared. I've certainly seen my share of the latter, and that person would be much better off if they had something formal to go off. But I'm laughing at myself because I've always been so darn proud of my Very Own Listing Presentation, I didn't notice how uncomfortable I was presenting it. I just thought there was something wrong with ME that I didn't quite have my rap down.
But, as many of you have said - it's nice to have the knowledge in your head so that you have the confidence you do know what you're doing.
Ahhhhh!!!! Your agent showed up ready to listen, having done her homework, knowledgable of the local market/competition, and personable. Sounds like the winner we all would like to have!
Few rookies can or will do all of that... but this approach is both skill and experience and both can be acquired through deliberate effort.
I love that you let youself be the observant client! Take Care! G
Glenn - it was funny - when the agent pulled up, I was SO dreading getting a formal sales pitch! When she got out of the car WITHOUT a fancy binder, I was hugely relieved! I'm hanging my head in shame at all the times I did that to MY precious clients!
Jennifer
I have a formal listing presentation that I have bound in a book. When I go on a listing presentation, I can either send it ahead, or leave it behind. But I find that it's important to have something that the client can refer to. On one occasion that I did send the presentation ahead of time, the client told me that it's what got me the listing. He liked the presentation because it showed good preparation and marketing skills.
When I did meet with him, I had only a note pad, pen (camera in the car), and had him show me through the house, He talked, I listened.
Listening skills are important. I think I heard something like: in negotiations, the first one who talks, loses.
And another quote: "Why did God give us two years and one mouth? So that we can listen twice as much as we speak."
More power to you!
Pacita - My sellers used to tell me that my listing presentation was by far the most professional and interesting one they'd seen. That it was terribly impressed with it, and with me. I guess this is why I kept at it - I did get good feedback ON THE WRITTEN MATERIAL! However, I don't think that spending an hour going over it was nearly as effective as I thought it was! And, frankly, I dreaded it. Perhaps there's a happy medium, as many have said - prepare the written proposal and have it available, but spend your actual time together building rapport and trust.
hi Jennifer,
I have your book and other items and I find your approach to be very similar to mine. I do have a fancy listing presentation because I bought into the hype when I began. Now I use it if the situation warrants it, but I try very hard to engage the client on a personal basis first. I always bring my laptop because much of my presentation involves customized videos. However, I have all the other stuff in written form and sometimes that is a better fit for the client. I have media clients who love hi-tech so it just depends. If your presentation reflects your personality and connects with your audience, that is what is critical. Also, nothing will replace true knowledge and empathy. Thanks for the reminder.
I stumbled upon your blog. Now THIS is the reason I joined AR.
Always enjoy reading your posts -- may all the best be yours for 2009.
Chuck - Well, thank you!!!!!! What a nice thing to say!
I have conversations with people...I don't do listing presentations and haven't done one from the start.
I hate being talked at, so I decided I didn't want to be that kind of agent. Since I am high tech, I have an email "presentation" that I send to people before we meet and/or along with a copy of my CMA. I link to all of my online marketing so people can see my marketing in real time.
KUDOS on the breakthrough. My team leader has specialized in Las Vegas luxury real estate for 30 years and we talk about this stuff all the time. We too have no listing presentation nor have we for a long time. When you reach a level of experience and develop a reputation, people either already know your experience, or can organically feel it.
Your post gave me a good idea having to do with SEO in real estate (something I tease about from time to time).
I just linked to your post in my new SEO abuse post :)
Jennifer, When I go on a listing appointment I am extremely prepared. I have pages and pages of market data and a full blown market analysis. I also have printouts of my current inventory and recent sales with DOMs and percentage of sales price to list price. All of this is neatly compiled in a bright red high gloss binder with my contact info all over it.
Then.......I walk in, make myself at home at the dining room table, ask them questions and just sit back and listen to what they have to say. I rarely go over the info I have prepared. My job is to understand what they need, build trust and figure out if I can help them. One of my first post on AR was "Make your listing presentation a listening presentation". I have never done a canned presentation as every person I meet with has different needs.
After all is said and done I take the listing and then leave them the information I have prepared so they can go over it later at their leisure time. I doubt many do.
Jennifer,
Thank you for having the courage to say this.
And I agree with you about 99%.
To me, one of the purposes of the "listing presentation" is to handle objections. I think this is really important - talk about what the seller is concerned about.
Establishing trust and rapport is important, but I think the listing agent also needs to make an effort to "close".
Very interesting - I am in my second year in real estate and am not sure how comfortable I would be in not having something written down right now. I WOULD, however, like to work my way towards that!
Thanks for sharing - congrats on the Feature!
Jennifer: Your post was great, and... so many of the comments following it have some really great ideas, too. Again, thanks for sharing.
Thanks for the listing spin ! I agree with not making it so formal - all sellers are not the same !
Do you know of any good FREE website that you can get pics for blogging ect... I have been searching and not coming up with much . I am always delighted to read your blogs. Thanks PJ :)
Wahoo! I'm newer to the biz and the thought of having to sit down with someone to give them a spill terrifies me, as I pretty easy going, and don't care for the stuffiness. I do have a presentation to leave with them, but I have them look over it & get back to me with questions. It's worked so far, but it's good to hear from a veteran agent.
I like the idea of a prelisting presentation. I'll check yours out!
Thanks again.
Happy New Year!
Jennifer - I have an online marketing presentation that I sometimes email to them - it has links to sites I use, etc.
I do best when I have a computer in front of me, theirs or mine, and start googling keywords - they are usually impressed with the first page Google results.
One time I logged on to AR and just started writing their listing blog - showed them how quickly they would be on the internet...they couldn't wait to sign the listing agreement.
I would be interested in who chose the price with you being in the biz. Also let's see how quick it sells. I find that no matter how I teach new agents that price is the ultimate king, they give into overpricing and and always gets the listing. With our program and marketing I still think we would get less listings but more would sell.
Charles - to satisfy your curiosity - I choose the price - $15k LOWER than she recommended!
Jennifer, you rock! I like the idea of having all of the information about what I do and how I do it available for them to read at their leisure rather than trying to cram it all in during an appointment.
Thanks so much for making all of that knowledge in your head available to the rest of us. You're a good woman and I hope your house sells above list.
Since "presenting" anything has never been my strong suit, I never have done a formal presentation. Not because it was necessarily a great or smart approach (although I have come to believe it is) but simply because it wasn't my style and I knew I would not come across well.
I do leave something behind, though, to satisfy those folks who feel the need to have "something" tangible. ;-) And that "something" was modified extensively after joining the VIP Lounge. It's great stuff.
I use a professional looking marketing plan. It needs to be fast and effective and you need to pay attention to the customer. If they are bored move on.
Awesome post Jennifer!. I have done it just about every way myself, and the conversational approach usually works best! But it always helps to ask a few questions before you get there so you can indeed be prepared!
I participated in a Scripting Blitz this morning. I will admit I have been feeling kinda rusty in the language of real estate department after taking the better part of a year off. And most of my recent business is from referral or sphere so a presentation was generally not needed. It did however prove out a theory one of my MAPS Coach's (Kate Putukski) said to me. "All you have ever learned is up there in your head and just know that it will come to you when you need it." I think I did pretty good!
For newbies, you need to get into practice. When I started (long before all this training stuff!) my first broker told me to go out and "practice" on FSBO's and Expireds! So I would review a script after I got my kids off to school, then out the door I went. I actually think being new was an asset then because it seemed like lots of them wanted to help me!
Listening is always the key. That's why you have 2 ears and only 1 mouth.
listing presentations can often turn into a one-way conversation which does not benefit the seller at all. I like your idea. People often choose agents because they connect with them, trust them, and feel heard.
I had to sit through a sales pitch today by a replacement window guy (my buyer wanted to meet with him at the house we're U/C on) and UGH!!! I hated it! And, it was very much like the traditional dog & pony show of a real estate listing presentation, complete with graphics, flip charts, testimonials and bragging rights. My buyer just wanted someone to come in and say he could "take care of it and here's how much it will cost" and instead, had to endure a very much unwanted presentation. About 45 minutes into it, my buyer said he had to leave for work and it was ANOTHER 45 minutes before we got out of there. The guy was so committed to his presentation, he didn't seem to know how to stop, even as my buyer was walking out the door. I had to listen to another 15 minutes of the pitch so I could lock up the house!
That's more in line with how I think it should go. Are you willing to share what information she came back with? Maybe some of the crucial stuff you really wanted to know.
I'm going to copy and paste my response from Jennifer's forum here:
I've found that any time I've over-prepared (for the communication aspect, not my market analysis) I've bungled it. I don't think I've ever gotten a listing where I've gone in armed with my CMA and done a "listing presentation" that I sit down and work my way through. I'm sure my presentation is off, but I feel funny sitting in someone's home, where they raised their children and celebrated their holidays, and making a presentation like I'm in a board meeting.
I think it's a mistake to look at a listing as "business to be won" as if you were in the corporate world. It's a much more personal transaction and people want you to recognize that. You can still be professional without a presentation.
Bravo, Heather! I can't for the life of me understand how it took me so long to see this. And I love your comment about not looking at it as "business to be won." I like to look at a listing presentation (to use the term loosely) as an opportunity to see if I can help. If I can, great. If not, I'm fine with that, too.
Over the years, instead of creating more pages, I have simplified my presentation. What I go over with them is my marketing plan (how I plan to execute the plan of attack) with actual plans - they get amazed with the work that's already done - ie flyers, etc... Then I also showed them a couple of marketing plans that I had used in the past to sell some homes and why it worked.
I think that's all Sellers care anyways.
Since BB taught me about the MLS data sheet, I also go prepared with them but I dont go through every single one. I have them just in case. I show them the suggested price range, how I came up with the numbers. They usually are curious.
Then of course, I wont let the stuff I've worked on over the years into perfection wasted away like that. I have them in a folder to leave with them when I go (for their reading pleasure if they cant sleep at night).
This method seems to work for me.
Confidence is everything! I kept thinging "2 ears and one mouth" as I read this. The presentation should be about the house, and the seller, Not about You! but you should have the back up charts and goodies if they ask...
I have come back to your post after trying several different models and finally come up with one leading more to educating than presenting.
This is good. I typically run into a couple diffrent types of sellers and a listing presentation is a waste of time. The seller who say "how much can I get" just wants you to give the highest number. However there are a few sellers out there that are old school and they want the works(including the LP).