SELL­ING YOUR WORTH

HIGH-PER­FOR­MANCE coach Josh Pyatt ex­plains how two sim­ple strate­gies can help you win ev­ery list­ing without drop­ping your fee.

Elite Agent - - CONTENTS -

Josh Pyatt

How many times have you pitched for the busi­ness and never got the com­mis­sion fee you orig­i­nally asked for or told that par­tic­u­lar owner? I think we’re all a bit guilty of drop­ping the fee we ask for from time to time in or­der to win and se­cure the list­ing. And there’s noth­ing wrong with that. Some­times you’ve gotta do what you’ve gotta do.

But what if I told you that you can earn the fee you ask for more of­ten by do­ing two fairly sim­ple things?

1 THINK LONG-TERM

Cre­ate, build and main­tain a great re­la­tion­ship with a home­owner long be­fore they’re even think­ing of sell­ing. By do­ing this, you’re able to es­tab­lish trust and rap­port over a long pe­riod; so when an owner comes to list, you’re a long way ahead be­cause of the work you’ve pre­vi­ously put in.

When­ever I coach agents, I get them to fo­cus heav­ily on work­ing with peo­ple who have no in­ten­tion to sell, rather than those they’ve met only a month or two ago who are think­ing of sell­ing right now.

The rea­son? If you can ser­vice and build a re­la­tion­ship with an owner over a pe­riod of two, three, four-plus years, then when it comes time to pitch and present for the busi­ness they should al­ready know you quite well and hope­fully feel com­fort­able with you.

If you’ve ad­ver­tised your­self prop­erly, they should have also been made aware of deals you’ve done in the past, and re­sults you and your of­fice have achieved in their area. And, be­lieve me, most peo­ple would rather pay an agent a lit­tle bit ex­tra if they feel com­fort­able with them than pay an agent less when they don’t trust them or feel a rap­port with them.

So the re­al­ity is you ac­tu­ally earn part of your fee with the work and ser­vice you give a home­owner in the months and years lead­ing up to their de­ci­sion to sell.

Think of it like this. You earn 0.10 per cent ev­ery month or two when you’re ser­vic­ing, build­ing a re­la­tion­ship of trust and rap­port with some­one over a de­cent pe­riod of time. If you do none of this, how can you ex­pect to get the fee you ask for? You’d bet­ter be a killer list­ing pre­sen­ter.

So get out there and start build­ing and main­tain­ing trust with peo­ple over a long pe­riod of time. You’ll have a much bet­ter chance of get­ting the fee you ask for – or at least not be­ing screwed down as much.

Peo­ple want to do busi­ness with those they like and trust. Re­mem­ber that!

2 POINT OUT THE VALUE

The sec­ond way to earn the fee you ask for comes at the time when you’re pitch­ing for the busi­ness. If an owner or ven­dor can’t see the value in your fee, why should they pay it?

Un­for­tu­nately, lots of agents ask for a

Most peo­ple would rather pay an agent a lit­tle bit ex­tra if they feel com­fort­able with them.

What’s go­ing to sep­a­rate you from your com­pe­ti­tion when two agents are so alike?

spe­cific fee (what­ever that is) but fail to show and ex­plain why they’re ask­ing that and what ben­e­fit it has to the seller. This is why many don’t get what they ask for.

I’m a big be­liever that 70 to 80 per cent of the time you spend pitch­ing and pre­sent­ing should be about you and your of­fice. Let’s face it, most agents’ mar­ket­ing and com­mis­sion are the same or sim­i­lar. If that’s the case, put your­self in that seller’s shoes. What’s go­ing to sep­a­rate you from your com­pe­ti­tion when these two com­po­nents are so alike?

So spend a good chunk of your time show­ing and ex­plain­ing your point of dif­fer­ence. Here are a few ideas to help you earn the fee you ask for:

• Ex­plain to the seller your ser­vice to them from the day they sign with you, right through to set­tle­ment.

Break it down into three parts. Ev­ery lit­tle thing you do be­fore you go live to mar­ket, ev­ery­thing you do once you hit the mar­ket, and then ev­ery­thing once the prop­erty ex­changes up un­til set­tle­ment.

For me, this is cru­cial. Lots of agents work hard be­hind the scenes to get the job done, but very few ac­tu­ally show and ex­plain this to that po­ten­tial seller at the pre­sen­ta­tion. Don’t you think it would be far more pow­er­ful if you ex­plained all this when pitch­ing for the busi­ness? Tell them how hard you work and ev­ery­thing you do from start to fin­ish. If you need help with struc­tur­ing and how to present this so you prove your worth, please reach out to me.

• Ex­plain to the po­ten­tial seller your ac­cess to buy­ers and how you plan to at­tract them to their home.

What will you do when a buyer shows in­ter­est in their home, re­quests a con­tract or makes an of­fer? How will you nur­ture and work with that buyer to get the very most out of them?

• Ex­plain the out­stand­ing ser­vice you’re go­ing to give your ven­dor from Day 1 to set­tle­ment.

Re­mem­ber, most peo­ple will only sell two or three prop­er­ties in their life­time, so nat­u­rally sell­ing a home can be stress­ful con­sid­er­ing so much money is in­volved. It’s up to you as their agent to make them feel com­fort­able ev­ery step of the way and help them over­come any fears or con­cerns they have about the up­com­ing sale.

In summary of pre­ced­ing points, when pitch­ing for the busi­ness, prove your worth by ex­plain­ing your ser­vice back to front from Day 1 to set­tle­ment and how you’re go­ing to add value. If you do this right, it will take you a while. But I promise you that, in most cases, that po­ten­tial seller isn’t go­ing to hear this from other agents they in­ter­view. So that’s your point of dif­fer­ence and where you can get one up on your com­pe­ti­tion.

Re­mem­ber, spend a re­duced time dis­cussing price, mar­ket­ing, method of sale and your fee, be­cause in most cases what you dis­cuss here will be sim­i­lar to other agents. Give the ma­jor­ity of your time ex­plain­ing why they should choose you and de­scrib­ing your level of ser­vice in high de­tail, be­cause that’s how you’re go­ing to win the busi­ness and truly earn the fee you ask for. Josh Pyatt is a highper­for­mance real es­tate coach, trainer and con­sul­tant. For more in­for­ma­tion visit josh­py­att.com.au.

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