The Listing Presentation

Ultima Real Estate Services

THE LISTING PRESENTATION

Memorize a listing presentation

View the Powerpoint listing presentation

Read Chapter 11 in Daniel Kennedy’s “How To List & Sell Real Estate In The 90’s”

We have a listing presentation on disk if you would like it custom made with your name on it, call Paul.

Forms to get acquainted with:

The Listing Agreement / Office File
MLS Data Input Form / Office File
My Collection of Tips for Bringing my Sellers more Money / Tips.doc
Potential Roadblocks to a Successful Closing / Rblks.doc
Mortgage Information Letter (MIL) / Office File
The Ultima Guarantees / Guar1.doc,Guar2.doc,Guar3.doc
My Program for Selling Your Property / Myplan.doc
Centralized Showing Systems Newspaper reprint
Seller’s Net Sheet / Scost.doc

Focus and Commitment always beat Talent!

- Mike Ferry

A.WHEN YOU GET A LISTING LEAD, WHAT INFORMATION MUST BE OBTAINED?

1. Clients name, address, and phone number

1. Number of bedrooms

1. Number of bathrooms

1. Garage size

1. Type of heating and air conditioning

1. Why are you interested in selling your house?

1. Where do you plan to move when we sell your property?

1. How soon had you thought of placing the property on the market?

B.HOW TO ASK FOR A LISTING PRESENTATION APPOINTMENT.

Roger Butcher Technique

Agent:Mr. Jones, I have a special 103 point Plan of Action marketing program that makes many of my properties sell in the first 30 days. Would you like an opportunity for me to present this program to you?

Dialogue for confirming the appointment

Agent:Hi, Mr. Jones, this is ... with Ultima Real Estate Services, I am calling to confirm our appointment at 2:20. I’ll see you then.

C.QUESTIONS TO ASK WHILE PREVIEWING THE HOME WITH SELLERS.

1. Mr. & Mrs. Jones, would you like to show me through your home---and please feel free to tell me as much about the home as you can.

1. Have you folks ever sold another home before? Did you have any problems with the sale at the time?

1. What is your biggest frustration with this process?

1. I always like to measure every room. A reputation for accuracy and professionalism is important, isn’t it?

1. Because I specialize in the surrounding area I could be of more service to you, couldn’t I?

1. Let’s see if we can determine the age of your home!

1. Are you folks originally from Dallas?

1. Do the draperies stay?

1. Mrs. Jones, do you wish to take the refrigerator with you or do you prefer to leave it?

1. Mrs. Jones, of all the things you like about the home, what do you like the best?

1. Gee this wallpaper is nice! Did you do it yourself or have it professionally done?

1. How long have you folks lived here?

1. Mrs. Jones, what improvements have you made since your purchase of the home?

1. Do you have a spare key? Does the work bench stay?

1. Does the vice stay? Does the fluorescent light stay?

1. Let’s see if we can determine the capacity of the water heater.

1. Does the firewood stay?

1. Most people don’t object to a for sale sign on the property. What is your feeling?

1. What is your biggest fear concerning this transaction?

D.QUESTIONS WHILE SEATED WITH CLIENTS AT KITCHEN TABLE

1. Mr. Seller, please describe in detail to me your objectives in selling that we might determine if we can work together.
2. Please tell me your reason for selling
3. Supposing your home sells, where will you move?
4. What do you like (best/least) about this house?
5. What are your feelings about this (neighborhood/school district)?
6. What are your thoughts regarding moving out and giving up possession?
7. Being realistic, how do you think you will come out financially?
8. How did you arrive at that figure?
9. Given a choice between pricing your property high and waiting or pricing it realistically to sell in 30 days, which would you prefer?
10. Should your property not sell in 30 days, how would you feel about making a 3 to 5% price adjustment?

E.THE LISTING PRESENTATION

There are a million ways to do a listing presentation. The following techniques are here to assist but not to dictate the way you should do it. We suggest you learn the information given on a listing , and then you can change whatever you don’t feel comfortable with. As you progress, we have advance techniques for the listing presentation, but you must learn the basics, before you can apply the advance tips.

The Roger Butcher Presentation (Computer or Book Version)

Page 1Since you have been attempting to sell your own house, I’d like to show you the SAGA OF THE FOR SALE BY OWNER.

Page 2The first reason, of course, is to save the commission. Next, some people are afraid of salespeople. Others are confident they can sell without professional help. Some are prompted by others, and many do not know a good agent. Many people’s attitudes are: If we can’t sell, we will turn it over to a Realtor. Some feel they have to net X amount of dollars, and some feel “we can’t afford to pay a Realtor.”

Page 3Many owners say find me a buyer and I’ll pay you half the commission. Finding a buyer is only part of my job-There is listing, marketing, advertising, promoting, showing the property, negotiating the sale, arranging financing, meeting the appraiser, inspections and closing. There’s more to selling a home today than just finding a buyer. It’s very consuming.

Page 4 WHY SELLING “BY OWNER” IS DIFFICULT

“You” have only three ways to attract buyers: 1) Classified advertising, 2) Open Houses, and 3) For Sale signs. “You must give the address. Buyers can drive by without seeing the inside. You have but one property to show, we as Realtors have many properties to show and can match our buyers to our properties.

Page 5OTHER FSBOs WEAKEN YOUR POSITION

“Avoid the commission!” “Buy from owner and save!” Even though your ad may not read like this, you are categorized with them. Potential buyers see “By Owners” as a way they can save money, too!

Page 6WHAT KIND OF BUYERS DO YOU ATTRACT?

Investors: People who know what they are doing- “No Money Down”

Looky Loos: The perpetual shopper, always in the market.

Bargain Hunters: People with very little money, always looking for the good buy.

Page 7What reason do you think the buyer would have for wanting to buy from you direct? That’s right: BARGAIN PRICE. After the buyer has subtracted the amount of the brokerage fee he will subtract at least another 2% from the remaining asking price, because we all know you never offer a FSBO the full asking price, don’t we?

Page 8DIRECT CONTACT CAN WEAKEN YOUR POSITION

Your enthusiasm in showing your property can be interpreted as being anxious to sell. Selling is a skill and you are looking for a buyer who is also attempting to represent himself.

Page 9ARE YOU FAMILIAR WITH CONTRACTS?

Selling a home today is more difficult than ever. With all the new laws and loop holes it can be a long bumpy road. Two important things when writing the contract: One is the TIMING and the other is LEGALITY! You want and need someone that can write a good contract when the buyer is at his emotional peak.

Page 10FOR SALE BY OWNER MYTH

The illusion of saving the commission. Even if you did sell it yourself, you wouldn’t save it all. Besides, you could end up losing money. Over 90% eventually list with a Realtor. You should hire a broker like you would hire an accountant or attorney. Remember, we are talking about one of your largest investments.

Mr. Seller, how do you feel about the things we have discussed to this point?

Page 11WHAT IS THE MULTIPLE LISTING SERVICE?

It is the organized and cooperative effort of our trade association and the best way to get the most qualified buyers to see your house. The entire Association of Realtors is working for you to sell your house.

Page 12HOME SEARCH BY IN-OFFICE COMPUTER

A Computerized network of marketing homes through every real estate office in town. All salespeople working with buyers have immediate and accurate information about your property. There’s a 90% chance your property will be sold as a result of the computer.

Page 13WHERE DO BUYERS COME FROM?

Very accurate national statistics tell us that 40% buy form Firm Name recognition or sales person contacts. 20% contact an agent from our “For Sale” signs. 18% respond to an ad but purchase a different property. 8% respond to an Open House, but purchase a different home. 7% is referred by National Relocation Services. 3% bought the home they saw advertised. Only 1% bought the open house they saw, and 3% bought as a result of a combination of reasons. Buyers want to see, and agents show, properties that are good buys.

Page 14The many different On-Line Services may bring your buyer from any part of the country. This gives your property world wide exposure through the Internet and brings buyers and sellers together.

Page 15KNOWING FINANCING IS VERY IMPORTANT

Lenders say there are over 60 different financing methods. A Realtor can answer questions that arise, find the best available terms, and get preferential treatment because of the many loans we process. Knowing financing can get your buyer’s loan approved and your property sold!

Page 16Our company believes in effective Newspaper advertising. You’ve probably seen some of our ads in the newspaper, haven’t you? Our advertising pulls buyers for all price ranges.

Page 17Our entire sales force is at work for you contacting buyers through our professional cards, brochures, and signs. Company exposure means more buyers, doesn’t it?

Page 18TWENTY-FOUR HOUR AVAILABILITY

Placing your property with me, you will not have to be concerned about losing a prospective buyer. Buyers can obtain information while you are at work, out of town or even grocery shopping.

Page 19ALL BUYERS ARE PREQUALIFIED before seeing your home. Before I bring a buyer out to see your home, I will have his name, address, employer, and know his salary. I will know the buyers wants, needs and the buyers price range. Working with serious buyers would save you time and be more convenient, wouldn’t it?

Page 20BUYERS TODAY COMPARE 18 TO 30 HOMES ON THE AVERAGE.

What do you think they are comparing? (Pause)

Location, price, terms, and condition. They are the four things that make a property sell. Realistic pricing increases exposure resulting in a higher sales price.

Page 21PREPARING A HOME FOR SALE

A favorable first impression can be enhanced by giving your home maximum curb appeal. Looking through the eyes of the buyer, what do you think are things that could be done to create maximum appeal to the buyer? (At this point, write down things the seller may say, then continue on.) FACT: Top condition gets top dollar and a faster sale.

Page 22MARKETING SESSIONS MAXIMIZE EXPOSURE FOR YOUR PROPERTY

At our office meetings I tell our entire sales staff about your property Also, at multiple listings meetings and at open houses. I talk to title and escrow officers, and lenders.

Page 23YOUR HOME SHOWN “BY APPOINTMENT ONLY”

With my sign on your front lawn, when a buyer calls about your property, we will call you in advance to show the property. This would be convenient for you, wouldn’t it?

Page 24WHEN YOUR PROPERTY IS BEING SHOWN

Hints to enhance a good impression on the prospect: Even in daylight hours, please keep the drapes open, have all lights on, soft music playing, pets out, toys picked up, the house tidy and neat and very important, let the agent do the talking.

Page 25FOLLOW-UP AND MARKET FEED BACK

I will call and follow up to determine the prospects interest. I will send you a letter each week informing you of what we are doing to market your home. Agent/seller communication is essential, isn’t it?

Page 26Do you know what an Earnest Money Deposit is? It is good faith money that the buyer puts up to show he is a serious buyer. This is one more safeguard to assure a successful sale.

Page 27YOUR PROPERTY SELLS FASTER BECAUSE OF OUR EFFECTIVE SALES STAFF

Our entire company is trying to get your property sold.

Page 28YOUR HOUSE SELLS FASTER BECAUSE OF OUR MANY OPEN HOUSES

At open houses we pick up buyers then match them to the properties we have for sale. Eight percent of our buyers come from open houses. However, only one percent buy the open house they see.

Page 29YOUR HOUSE SELLS FASTER BECAUSE OF OUR MANY “FOR SALE” SIGNS

Twenty percent of our buyers come from our signs.

Page 30SHOULD YOU LIST WITH THE HIGHEST BIDDER?

Remember, there is a difference in getting your property listed and getting it SOLD! Some agents will promise anything to get listings.

Page 31THE FOUR THINGS THAT MAKE A PROPERTY SELL

Location, price, terms and condition. Which of these do you think is the biggest buyer motivator? (Pause)

Even though you may not have to sell, you are competing with sellers that do.

Page 32HOW DO MOST SELLERS PRICE THEIR PROPERTIES?

By calling around and seeing what other sellers are asking. What if they are priced too high? FACT: A buyer is more likely to make a full price offer on a home that is priced right before making a low offer on a home that is priced too high.

Page 33ACCURATE INFORMATION TO BASE A DECISION

In order to help you sell at the highest price, I call other agents, appraisers, and I check on competing properties for sale now, and properties that have recently sold.

Page 34HOW MUCH IS YOUR PROPERTY WORTH?

Only as much as a buyer is willing to pay. FACT: Right priced properties sell faster and at a higher price.

Page 35DANGERS OF OVER PRICING

It will take longer to sell. You’ll have fewer showings. You’ll receive lower offers, if any offers. Your property will help sell other properties or may not sell at all. And remember, the longer your property stays on the market, the more difficult it is to sell.

Page 36THE THREE PRICES AT WHICH A PROPERTY WILL SELL

1. No money down, and the owner will carry the financing at a low rate of interest for at least 7-15 years.

1. Assume an existing low interest loan with no more than 20% equity.

1. Which is the lowest price of all? Either “ALL CASH” or must obtain new financing with loan points involved?

Page 37You’ve probably wondered HOW LONG WILL IT TAKE TO SELL? Keeping very accurate statistics of our properties that have sold over the past three years, here’s what we’ve found. Sold in 1 month- 40%; 2nd month- 7%; 3rd month- 7%; 4th month- an increase to 20%; 5th month- 10%; 6th month- 7%; 7th month- 9%. Why do you think 40% of our properties sell in the first 30 days, then see it drop off to only 7% the following month? (Pause) Because either there is a buyer in the market for your property at the price and terms you offer, or there isn’t. Why do you think there is such an increase in the 4th month? (Pause) By this time the seller has usually agreed to a price adjustment. If your property isn’t sold in the first 30 days a price adjustment of at least 3-5% should be made.

Page 38OUR GOAL is to get your property SOLD, and your check in your hand. In today’s market, it takes both agent and seller working together to get your property sold.

Mr. Seller, what are your feelings about the program I have outlined to sell your property?

Review the market analysis information (in this order)

Actives

Agent:How do you feel about the asking price of these competing properties?

Solds

Agent:Which of these properties do you feel is most like yours?

Expireds

Agent:Why do you think these properties, didn’t sell?

Closing for price dialogue

Agent:As you know, there are four things that make a property sell and they are location, terms, condition, and price.

And as you also know, there are three prices we need to talk about:

1. The Price you had in mind

1. The most probable selling price

1. And the Marketing price.

What price did you have in mind? (Shut up)

Based on upon the Broker’s Price Opinion, at what price do you think the property is most likely to sell at?

At what price would you feel comfortable in placing the property on the market at?

What do you think would happen if we were to try your property on the market at $...?

Obtaining the signature:

Use any one of these closing questions-

Would you look this over and okay it for me, please?

Would you prefer to use the red pen or the gold?

Do you feel comfortable in making a favorable decision now, or should I tell you more?