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Posts tagged ‘listing presentation’

5
Jan

The RealtyLab Top Five Posts of 2014

top 5 RL 2014Happy New Year everyone. I hope that you are as excited as I am to start 2015 off with a bang. I find myself in such a great place these days. In 2014 I ran 1300 kilometres including two half-marathons, and was elected to President Elect of Toronto Real Estate Board. In addition I took on the position of Creative Director of Bosley Real Estate and grew my office significantly. All and all, I would put 2014 in the “win” category. We will just have to wait to see how 2015 unfolds, but I have already laid out my goals, although they are more like hopes, dreams and aspirations.
With all the other “stuff” that I was doing, my blog took a bit of a beating. While I actually collected a few more followers last year, I recorded fewer views because I was writing less. Finding time is increasingly becoming a challenge. Still and all, I had a couple of successes, so without further ado, I present the top five posts of 2014.

5. In this post I posed a simple question. Would our lives as realtors be easier if the Seller paid the listing agent and the buyer paid the buyer’s agent. Kind of an interesting theory once you work out how to roll the buyer agent’s commission into the purchase price. it is certainly one revolving topic around our office.

4. Nearly a year ago we had an office meeting where we discussed the pain of losing a listing presentation. What emerged was a discussion on removing all the variables from the equation. Being prepared seemed to be the most important point of the exercise, but the office got a lot out of this shared experience.

3. No other post received as much discussion. It revolved around the multiple offer scenarios. In this case we played out a fake multiple offer where the listing agent held back the highest offer but then made counter offers to each of the lowest offers. Confusing? Only a lot. At the end of the day, this type of negotiating required nerves of steel. The ultimate response was just to set the ground rules early and negotiate in good faith.

2. Back in November 2013 I was lucky enough to attend the National Association of Realtor’s Convention in San Francisco. Although the conference has a distinctly U.S. feel, every Realtor should endeavour to attend one NAR in their lifetime. I made a ton of notes but it took me a few months to actually blog about predictive marketing. In a nut shell, predictive marketing was done by a company that could analyze a series of seller events to predict the likelihood of them selling their home. It’s not as crazy as it seems.

1. And, the number one post of 2014 was a story I wrote about the return of the real estate brand. In this early entry I theorized that commission was no longer a competitive advantage for Realtors entering the business. Today’s Realtors need to perform above and beyond the general real estate population if they were to survive and given the enormity of that task, a newer agent might want to consider working with a brand that did a lot of the heavy lifting.

So there you have it. RealtyLab’s top 5 blog posts of 2014. I’m looking forward to breaking new ground in 2015 and hope that you will check in to see what I will write about in 2015.

mark mclean is the Broker/Manager at the Bosley Real Estate Queen St W office and President-Elect for the Toronto Real Estate Board. The opinions expressed here do not reflect the opinions of TREB or Bosley RE.

25
Feb

Eliminating the Variables. One Step Closer To Getting The Listing

photoHave 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.

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