In October, The Lones Group hosted our listing presentation class for real estate agents – Stop Losing Listings You Should Have Won. In that class, we offered 15 spots to those agents who wanted to revamp their listing presentation and be part of a case study. Well, those spots got taken very quickly. That case study is currently running and we are in the process of individually redoing each agent’s listing presentation materials, customizing each to what they each offer a seller when they list their home.
One of the first things we asked each of our case study participants to do is fill out an intake form which included checking off the services they did for each listing and checking those services they only did when the listing called for it.
Although there were several items that most of the agents were very comfortable doing for every listing, such as listing it on the MLS, creating a house flyer, and hiring a professional photographer, there were many other services that agents don’t necessarily do for every listing such as a 3D walkthrough, drone photography, or even sending out an area notification by mail that the home has been listed.
It is no secret that competition for listings is heating up and you may be going on more listing presentations that are competitive. By having a strong list of the services you offer for every listing, the more of a benefit the seller will perceive that you bring to the table.
For example, which agent would you prefer to work with, all other things being equal?:
Clearly Agents A and B offer more than Agent C, but Agent A includes the most services with every listing. With Agent B, it may be less-clear if the seller’s home qualifies under “depends on house” or “when warranted”. If I were a seller, I would work with Agent A because I can be sure that I am getting all of those services. With Agent B, I may get those services, but it isn’t 100% clear.
Now, please don’t mistake my points here. I am not suggesting that you provide services you are not comfortable with in terms of logistics or finances. I am simply suggesting that you review the services that fall into your “depends on house” or “when warranted” category and see if there are opportunities to move them over to the “always” or “only rarely” category.
For example, several years ago, drone photography and video was just taking off and it was a lot more expensive than it is today. While you might have spent well over $1000 in the past, that same package may be under $1000 today. And remember – house prices have gone up over the last several years, in some cases even over 50%. Therefore, that service is a much smaller percent of your commission than it was before. If you look at your home marketing budget, you may find there are a few of those “depends on house” or “when warranted” items that can affordably be moved to the “always” list. This makes it clearer to the seller what they actually do get when they work with you.
One reason many agents have taken some of their services off the “always” list is due to listing timing. They argue that there is no point in sending out a Just Listed card when a home comes on the market on a Thursday if the seller wants to review offers on Monday. Logistically, how fast our market is has made some of these listing services a challenge. However, it is important to remember that all of those services are about how you present a listing to the market. You have a formula, a checklist that you know works. Don’t let the market dictate what is on your checklist when it comes to marketing UNLESS there are additional services that need to be added to handle those new market conditions such as a modified open house or pre-inspection guidelines. Your core listing services should stay the same, regardless of the market.
A successful listing presentation is one that is clear, concise, and indicates you have a proven and effective plan of action. Review your listing presentation system today to make sure your listing services are clear for your sellers.
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By Denise Lones CSP, M.I.R.M., CDEI – The founding partner of The Lones Group, Denise Lones, brings nearly three decades of experience in the real estate industry. With agent/broker coaching, expertise in branding, lead generation, strategic marketing, business analysis, new home project planning, product development, Denise is nationally recognized as the source for all things real estate. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.