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|  Listing Prep Powerful Prelisting Advanced tip Advanced tip For the Broker: The Listing Presentation Advanced tip Listing Facts in an Instant Top Listing Presentations Making Your Best Pitch Step by Step Through the Listing Presentation Advanced tip Perfecting Pricing Countering Objections Advanced tip Special Presentations for Special Groups (FSBOs, Relos) Quiz: Listing Bright Ideas: Listing More Resources: Listing Code of Ethics: Listing | Listing—obtaining a written contract from a seller to market a home—is the linchpin of real estate sales. It’s the pay off from prospecting and creates a salable inventory for buyers. But most importantly, it creates a salable inventory for you, the real estate practitioner. A desirable listing, at the right price, is like money in the bank. But first you have to obtain that listing LISTING PREP Like so much else in life, a successful listing presentation begins with preplanning. The 5 'Ps' of Listing Prequalify the seller. Before you make an appointment, decide if the seller is serious, and learn more about the property to determine if it fits your target marketing strategy . Prepare the seller. A well-developed prelisting package presents you favorably to a prospect even before your listing appointment. Present yourself. Remember that the most important part of a listing presentation is to differentiate yourself and what you’ll do to sell the house. Price effectively. Unless you can arrive at a reasonable price for the home, the listing will become a burden instead of an opportunity. Press for the agreement. Once you’ve completed your presentation, don’t hesitate to ask for the business. 9 Prequalifying Questions Effective seller prequalifying helps you tailor your materials and presentation to each client’s needs and determine if they’re truly viable prospects for your services. Develop a single sheet of your prequalifying questions, and write in responses to check before your listing appointment. 1. Why are you selling? Are the sellers serious? If a new baby is on the way and they only have one bedroom, you know they mean to sell. If they’re just “thinking about moving," probe further. TIP: Answers to this question may also be a way to learn about problems with the house or the neighborhood that may make for a hard sell. Again, listen and ask a sympathetic follow-up question. 2. When do you plan to move? Is the move urgent? If it’s a job transfer in two months, emphasize your ability to sell properties quickly. 3. What’s most important to you in this sale? Price, speed, easy transaction? Slant your presentation to the sellers’ prime motivator. TIP: Sometimes stated motives aren’t the real ones. Let the person ask you three questions or make three statements. The third one is more likely to reveal the real concerns. —Author and communications specialist Kare Anderson, The Kare Anderson Company, Sausalito, Calif. 4. Have you ever sold a home? How sophisticated are these sellers? If they’ve already been involved in five transactions, you may be able to skip the basic materials on how a sale works. 5. How much of the proceeds of this home will you need to purchase your next home? How important is price to the sellers? This question determines that motivation, as well as helping you assess their knowledge of home prices in their area. 6. What did you like least and most about the other real estate practitioners you’ve worked with? What are the prospects’ expectations of you? This answer may be a clue to the best way to provide service or may indicate that this seller won’t be profitable for you to sign. 7. What have your homebuying and selling experiences been like? Do these prospects have any preconceived notions about the real estate industry—positive or negative? You may have to work hard to prove that you’ll make this experience a good one. 8. Do you use the Internet and e-mail? How techno-savvy are these sellers? You may want to replace your laptop presentation if they’re tech-shy or emphasize your virtual tours if they’re comfortable with online real estate. 9. Would Wednesday at 4 p.m. be a good time for me to come to your house to meet with you both, or is Thursday better for you? Are you ready to meet with these buyers and are they ready to do business with you? TIP: If possible, set the first home visit during daylight hours so that you can assess the physical condition of the house more easily. TIP: At the end of your call, don’t forget to ask how the prospect heard about you and record the answer so that you can track your personal marketing efforts. Personalities, next page > | Keep It Ethical Remember that the information you learn is confidential (as defined by state law), even if you don’t have an agency relationship with the clients. Unless the client intends to commit a crime or you are required to do so by regulations, laws, or court orders, you cannot reveal this confidential information or use it to your advantage. Standard of Practice 1-9 Keep It Ethical You shouldn’t disclose information considered confidential under the scope of agency or non-agency relationships in your state. However, you can’t conceal pertinent facts relating to the property. Article 2 Keep It Ethical Although you should keep your eyes open for potential problems that might affect the sale, you’re only obligated to discover and disclose problems that would be reasonably apparent to a real estate professional. Standard of Practice 2-1 |