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 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.
‘Twas the night before Christmas and all through the town,
No bubble existed, at least here….downtown
The agents exclaimed no listings we fear
Loosen the rules the buyers are here.
Young families and singles all snug in their beds
While dreams of home ownership danced in their heads
And me in my office feeling the heat
I had just signed my last trade record sheet.
When out of the news there arose such a clatter
I sprang from my desk to see what was the matter
Away to the TV I flew like a flash
It seems like our city had created a splash.
But it wasn’t the number of the cranes in the sky
Or the fact that the traffic was making us cry
The reason our city was under attack?
It seems that our mayor was caught smoking crack.
It is true he declared but I was in a drunk state
I’m in dark alleys….often quiet late
fighting taxes and spending had taken their toll
So I turned to crack to fill my pipe bowl.
The stump of his pipe he held tight in his teeth
And the smoke it encircled his head like a wreath
With arms round his buddies and a big bright red face
That video it seemed was cause for disgrace
We watched as our leader unraveled….unglued
And a 24hour media circus ensued
More rapid than eagles the reporters they came
And he whistled, and shouted and called them by name
Now Mansbridge, now Stewart, now Anderson Cooper
And an opening night skit on SNL that was super
It is true he exclaimed my language is abhorrent
But please everyone, put away that bench warrant.
We’ll folks, he declared, this is all overblown,
I’ve got plenty to eat, right here at home
At that very moment I awoke with a fright
Wow what a nightmare, things must be all right.
I rose out of bed, stumbled into the den
Flipped on the TV and tuned in to CNN
The news it appeared was actually quiet cheery
a real estate bubble was just a strange theory.
Our mayor was addressing the crowd with a smile
It seems all that cost cutting was really worthwhile
A 50 percent cut to our dreaded land transfer tax
And no services will be under my shiny new axe.
But that is not all he declared with a smirk
My new plan will show there’s plenty of work
The roads, the subways, and parks need a boost
And I’m just the man to push those things throughst.
Oh, His eyes how they twinkled. His dimples how merry
His cheeks were like roses his nose like a cherry
His droll little mouth was drawn up like a bow
And bit under his nose was as white as the snow
Then our own city council with rob and with Doug
Went back to their jobs to give us a hug
Tax credits, incentives, and and a stunning new proposal
To clean up the town’s garbage disposal
To treb agents our mayor made one last request
A trip for you all ….a week in Key West
You’ve put up with the work load, the pressure, the stress
There’s room in our budget, relax, decompress.
On our return to Toronto the sellers were ready
One house for each buyer, the market was steady
And construction of condos as ever intense
Invest in high spaces, it really makes sense.
And from his pulpit he said all the right stuff
Times have been tough, but enough is enough
Let’s get agents humming
It’s the real estate second coming.
Then he sprang to his escalade, to his team gave a whistle
And away they all flew like the down of a thistle
But I heard him exclaim ere he drove out of sight
Happy Christmas to all and to all a good night.