DON’T LOSE YOUR NEXT LIST­ING

AS REAL ES­TATE AGENTS, we all know that er­rors can be costly. Small mis­takes can cause us to lose clients, listings, com­mis­sions and even the rep­u­ta­tion we’ve worked so hard to build. The prob­lem is that many of us only iden­tify our mis­takes long af­ter th

Elite Agent - - CONTENTS - Adam Flynn

AF­TER EN­TER­ING THE IN­DUS­TRY at the ten­der age of 18 and work­ing my way from Sales As­sis­tant to CEO over the last 20 years, I’ve had the op­por­tu­nity to ex­pe­ri­ence a num­ber of ma­jor in­dus­try changes and learn ex­actly what it takes to grow a suc­cess­ful busi­ness.

I learned very early on that the key to suc­ceed­ing in this busi­ness is to win listings. How­ever, af­ter more than two decades, I still see agents mak­ing the same old mis­takes – mis­takes that hurt their busi­ness and brand in the mar­ket­place.

Here are the five most com­mon er­rors I see agents mak­ing that cost them listings, and there­fore the op­por­tu­nity to grow their busi­ness, on a reg­u­lar ba­sis.

1 UN­DER­ES­TI­MAT­ING THE IM­POR­TANCE OF THE LIST­ING PRE­SEN­TA­TION

The list­ing pre­sen­ta­tion is typ­i­cally the point at which the seller will de­cide whether they’ll list with you or give their busi­ness to your com­peti­tor, and yet I con­tin­u­ously ob­serve agents un­der­es­ti­mat­ing its im­por­tance. Sim­ple er­rors are con­sis­tently made, such as not turn­ing up on time, not having done re­search be­fore­hand and not po­si­tion­ing your­self as the ex­pert – all er­rors which re­duce the like­li­hood of the ven­dor se­lect­ing you to rep­re­sent them.

If you choose to per­fect any part of your role as an agent, choose the list­ing pre­sen­ta­tion. Knock­ing this out of the park each and ev­ery time is go­ing to con­trib­ute a great deal to your over­all suc­cess.

2 NO STRUC­TURED LIST­ING PRE­SEN­TA­TION

I fre­quently ob­serve agents de­liv­er­ing list­ing pre­sen­ta­tions with only a vague plan in mind, which I view as a huge mis­take. If you fail to plan your pre­sen­ta­tion ad­e­quately, you’re es­sen­tially fly­ing blind.

Sys­temise your pre­sen­ta­tion and break it down into dif­fer­ent steps. Think about the ini­tial phone call and draft a spiel to fol­low. Plan the ac­tual pre­sen­ta­tion it­self. Think about what you’ll say and when. Pre­pare some case stud­ies of com­pa­ra­ble clients. And, most im­por­tantly, test and mea­sure your re­sults. Even the slight­est al­ter­ation can have far-reach­ing con­se­quences.

3 BUILD­ING RAP­PORT THE WRONG WAY

Build­ing rap­port with cus­tomers is im­por­tant, but so of­ten I see agents go­ing about it the wrong way. Rookie agents as­sume they need to make friends with the ven­dor and en­gage them in a lengthy, non-real es­tate-re­lated con­ver­sa­tion in or­der to gain their trust. How­ever, I be­lieve that’s a strat­egy only the un­con­fi­dent and in­ex­pe­ri­enced em­ploy.

Ven­dors aren’t look­ing for a friend – they want to know that you are the best per­son for the job. Stop wast­ing your time and theirs on ir­rel­e­vant small talk and start com­mu­ni­cat­ing how your ex­per­tise will help them sell their home. If the con­ver­sa­tion isn’t about their prop­erty, you aren’t of­fer­ing them any real value.

4 FAIL­URE TO DIS­PLAY PRO­FES­SION­AL­ISM

If you think it doesn’t mat­ter if you’re a few min­utes late to an ap­point­ment, think again. Ar­riv­ing late, fail­ing to re­turn phone calls or let­ting your groom­ing slip com­mu­ni­cates to ven­dors a lack of pro­fes­sion­al­ism and they may start to see you as less than ca­pa­ble of han­dling their sale. It’s the lit­tle de­tails like this that can al­ter a po­ten­tial cus­tomer’s opin­ion of you, so don’t give them rea­son to take their busi­ness else­where.

5 FO­CUS­ING ON PRICE AS OP­POSED TO STRAT­EGY

Want to know the big­gest er­ror rook­ies make? Their en­tire game plan is based around the fee they charge, as op­posed to fo­cus­ing on the strat­egy they will adopt to achieve the best pos­si­ble sale price for the ven­dor. The fact is any­one can of­fer a lower fee, but will it help you be­come a bet­ter agent and build your brand pres­ence over time? Not a chance.

In or­der to re­ally suc­ceed in this in­creas­ingly com­pet­i­tive in­dus­try, I be­lieve it’s nec­es­sary to de­vise a care­fully con­sid­ered strat­egy which will si­mul­ta­ne­ously help you in­crease your list­ing con­ver­sion rate and pos­i­tively rep­re­sent your brand and abil­ity in the mar­ket­place. •

Adam Flynn is the CEO and Di­rec­tor of Big­gin & Scott Knox, an award-win­ning sales agent, auc­tion­eer and prop­erty in­vestor.

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