Have you ever walked away from a listing presentation and thought “wow, I totally nailed that one” only to find out that the owners went with someone else? It’s happened to me, oh I don’t know, a dozen times. Then it happens….the self doubt…what went wrong? What could I have done different? Don’t beat yourself up about it. As they say, practice makes perfect.
At this week’s meeting I asked the agents a simple question. If you eliminated all the variables, could you get closer to getting that listing? The reality is that sometimes we lose listings for silly reasons. That listing was ours for the taking, but a minor slip up or misstep changed the seller’s mind. It could have been as little as an awkward glance or no maybe you didn’t comment on the owner’s antique doll collection as you were walking around.
So we decided to spend a little time talking about those variables. Take a look at the picture above. Do you have anything to add? It seems a lot of things we do speak right to being prepared….that’s a given. You have to have a shiny presentation complete with comparables, plus a solid marketing plan. Oh, and is your presentation on your iPad or is it a hard copy. You should have both or at least have a solid understanding of how to present to a potential seller before you get there. In our meeting we had two great examples of this point. In one case, the agent lost a listing because his presentation to a young couple was a more traditional paper version. In another case where the owners were elderly, the agent lost because his presentation was on paper as well. Why didn’t he get the listing? Because they expected the buyer of their home to be tech savvy and wanted to list with a tech savvy agent. As the Boy Scouts say…be prepared.
We need to know that some sellers are fickle. Being late for an appointment might be all the deciding factor between them choosing to work with you and the other guy. If you smoke, don’t have a butt before you walk in the door. Don’t show up to the house on your way home from the gym. Don’t chew gum and don’t have food in your teeth. These all seem like ridiculous points but simple hygiene, being well dressed, looking people in the eyes and speaking with authority will get you three-quarters of the way to nailing that presentation.
If you are going out to a condo listing presentation, make sure you are familiar with the building. Arrive early and talk to the concierge about the facilities. Maybe get a tour, take some pics. Knowledge is power in most situations. Come in strong, wow them with your knowledge of the building. At the end of the day, you can check everything off this list and still not get the listing. Another agent could swoop in with a promise of a higher price, or maybe you just got the call because you are the expert in the neighbourhood and they want the right price but they are going to list with their mother’s brother’s girlfriend’s best friend. If that’s the case you can bring them the buyer and they will refer you all kinds of business.
One final note. When you don’t get the listing, don’t sulk. Give the seller a quick call, thank them for the opportunity to present to them and ask them why they chose the other agent. Consider this conversation an exit interview. They probably won’t tell you it was your breath, but they might say the other agent offered to do more. Whatever the reason, it can only help you secure the next attempt.
mark mclean is the Broker/Manager at the Bosley Real Estate Queen St W office and Director at Large for the Toronto Real Estate Board.
I like video. I’m a visual person, and maybe a bit lazy too. If I’m trying to do something around the house I will almost always see if there is a how to video first before I read ANYTHING. So it’s no surprise that video plays an important role in our company’s strategy and I wanted to share some of those successes here, if only to demonstrate how important video is becoming. For years our agents have done virtual home tours. There are any number of companies out there that will show up at a property, take some still shots, shoot some video, add some titles and stitch together a 2 minute clip that gets uploaded to our YouTube account. No fuss, no muss. On the Bosley Real Estate YouTube channel, those videos can generate 20-30 views and may hit 60 if we’re lucky. These videos also show up as attachments to agent’s listings on MLS and Realtor.ca and get a lot more views outside of YouTube.
Several years ago someone came up with the idea of shooting “lifestyle” videos. Conceptual in nature, these videos add a unique angle to the traditional home video by using actors to show what LIVING IN THE HOUSE is like. Cool idea. These videos have gained some success and have contributed to the house being sold. In fact some of our agents are using them quite successfully. Of course they are more expensive to produce and once the property is sold the video has limited appeal except as a tool to get other listings. Which begs the question, if a potential client says he wants a lifestyle video and the house is a dump, how are you going to back out of that one?
For our part, our video success has come from two sources. First we recognized that Bosley Real Estate has deep and long-lasting roots in the various communities in Toronto and so we were the best ones to talk about neighbourhoods. We created a video series called “Neighbourhood Navigators”. Currently we have 13 done and another 4 in post production. We also have one of the most experienced management teams and advice that is worthwhile and relevant so we created advice videos with topics like “Do I have to accept a full price offer on my home?”. These videos have responded to the statistics that are available. A 2013 Google Consumer Survey reports that 47% of RE researchers use YouTube to view video home tours, 21% use it to learn about neighbourhoods, 18% use it to learn about RE companies of agents, and 13% use it to watch “how to” and “advice” videos. With barely 9 months under our belts our success has been extraordinary. Check out a snapshot of or analytics. We were basically flatlining but the major jump happened the moment we published our first neighbourhood video in June of 2013. . Video continues to play an important role in our online presence too. On our new website we created a Neighbourhood Navigator and Advice page. Our agents are embedding the videos into their own websites and are reporting additional traffic. Of course we still have a lot more up our sleeve. Version 2 is coming out in a few months and will see some video content coming out in our app.
It is no surprise that video is an important tool for the real estate brokerage. In our fast paced, no time to read, life, video plays a critical role. We are also a big fan of agent videos as they give a consumer the chance to meet someone before they meet them face to face.
mark mclean is the Broker/Manager at the Bosley Real Estate Queen St W office.
I would be the first to admit that some of my Tuesday meetings are a complete flop. When you factor in holidays, summer schedules, sick days and bad weather, I conduct about 40 meetings a year at the Bosley Real Estate Queen West office. I will admit that a few of them are pretty bad. Once I had no idea what I was going to talk about so I hired a magician. I told the agents that he was an internationally acclaimed real estate speaker. I had them believing that for about 2 minutes. But at least we had a blast. Some meetings, like this one….well, I feel like I can put it in the “win” column.
This week’s meeting was all about figuring out where to spend your marketing money. When I do yearly reviews I always ask the question…What are you spending money on? What’s working? What’s not? I got this idea to create a visual representation from the Agent Reboot Conference I recently attended in NYC. First, I drew a chart. The horizontal line represented the effort from easy and cheap to expensive and hard. The Vertical line represented the impact your idea would have from little impact at the bottom to high impact at the top. Then we started naming off things we spend our money on and placed them on the chart in the appropriate spot. It’s a bit arbitrary because something like a PR campaign might be really easy and inexpensive for one agent and the complete opposite for others so I asked the person with the idea to figure out where to place the dot. Ultimately we came up with 30 things. If we had more time I’m sure we could have come up with another 30. What I hoped would happen was that a group of things would emerge as being inexpensive and high impact…and thankfully that’s what I got. Whew.
Later I was thinking that this would be a good exercise for individual agents to do since they all have different skill sets. What do you think? Are there any other things you would add to the list that I missed? Where would you place them?
I’m not sure if it is just my rambunctious crowd but when we do exercises like this they often lead to some interesting remarks and hilarity so, to all the managers out there, have some fun with this one.