This is a review and synopsis of an article that was published on 2/1/08 in REALTOR® Magazine written by John D. Mayfield titled Smooth Selling - Avoid These 5 Listing Presentation Pitfalls along with some of my own thoughts included herein.]
Any real estate practitioner, new or seasoned, can make some common mistakes during a listing presentation. A listing presentation is like a job interview. You are applying to sellers for the chance to sell their property. You role and goal is to try to convince them that you are the best real estate agent for their needs.
While there are common and necessary elements to every listing presentation, according to John Mayfield, what differentiates a great presentation from all the others is the ability an agent has to make your presentation fit the unique needs and personalities of the prospective clients you are meeting with.
The author outlines 5 common mistakes to avoid during a listing presentation.
1. Failing to recognize unique and individual personality traits. Make sure you take the time to figure out the personality types of your potential clients. By understanding the personality of the people you are dealing with you can make sure you correctly deliver your presentation to fit their style. For instance, if a person is analytical, you would make sure you give them a lot of details. If a person, however, is emotional you may want to tone down the details and speak on a level that engages their emotions. Painting word pictures and interesting descriptions speak well to this personality type.
How you do figure out a person’s personality type? One effective way is to listen closely to the types of questions they ask. If they ask lots of detailed questions it is a dead-ringer that they are analytical.
2. Not using quality presentation materials. Make sure you give your prospective clients materials (like your CMA, any reports you might use, charts/graphs, etc.) that are on good clean quality paper with clear photos and presented in a manner that is superior in effect and quality.
3. Not using good listening skills. The author quotes Dale Carnegie who said that we can win more friends in two weeks by showing we have a genuine interest in them than we can in two years by trying to get them to be interested in us. How true this is! One saying I heard years ago was: “if you want a good friend, learn how to be a good friend”.
I know that very often I have to stop myself from thinking ahead in the middle of a conversation. Too often most of us are more focused on what we have to say than we are focused on what the other person in the conversation has to say. By slowing down and taking the time to listen, we show we care. As the saying goes, “people don’t care how much you know, until they know how much you care.”
We have to remember that the listing presentation is about the potential client and not about us. People can easily tell if we care for them or if we really only care about ourselves.
4. Believing that one size fits all. Though we live in an age of great and easy-to-use technology, many real estate agents tend to develop and use one type of presentation for all their appointments. This is a mistake. Though each presentation can have some common elements, presentations should be different for first time homebuyers vs. customers/clients seeking to purchase or sell a vacation home. Be careful to deliver the right pitch depending upon the needs of your audience.
5. Not Following through. If you spent a lot of time preparing a presentation, make sure you use it. Don’t “wing it”. Most prospects appreciate and are impressed with a well-developed presentation. Also, like the old adage says: “A picture is worth a thousand words”. Pictures, charts, graphs, reports, etc., can have great appeal provided they aren’t over-used. Also, make sure that your presentation doesn’t get in the way of your ability to connect with the prospects. Sometimes, the presentation materials can get in the way of establishing a good connection with other people. Don’t let this happen. A presentation with reports, CMA, charts, pictures is only a part of the overall presentation you are making about yourself to the prospect.
My advice is that you do everything you can to establish a good rapport with the prospect. You might think this goes without saying; however, sometimes a real estate agent can forget this in the midst of a presentation. Be authentic, be you, and show them that you are a person of integrity- someone they can trust. Part of having integrity is being able to accurately represent yourself, the market and the services your agency can offer. Another important part of integrity is being able to deliver on your promises. Make sure you can do these things. Ultimately, you are only as good as your word. As a matter of fact, all you really are in life, in the eyes of others, is your word and reputation. It is so important that when people think of your name they associate you with being one of those people in life they can trust.
Lastly, make sure the presentation, as well as the listing, once you have successfully obtained it, is all about meeting the needs of our prospective clients, not yours.
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