Do I Need a Listing Presentation?
The real estate industry often ponders the necessity of having a listing presentation. Although very helpful, a listing presentation is not the only answer to landing listings. Having one can sure help once you have secured the listing appointment, but you’ll still need to work hard to get the actual appointments. Should you invest time and money into a listing presentation? Yes, you probably should as there are many benefits to having one, at least a good one.
Inman.com is a great resource for news and trends related to the real estate profession. Recently they have posted two articles that sort of slammed the practice of using a “canned” listing presentation. You can read both articles from these links:
“Time to dump the canned listing presentation”
“Listing presentations can’t get you sellers without listing appointments”
Both writers had some good points about how to engage the seller by asking more questions. But then they both go on to discount the importance of using a listing presentation from which to conduct the listing appointment. It can be done, but not all agents are really good with a free-flow interview appointment, and many sellers are not easily mesmerized by charismatic fast talking real estate agents. A great listing presentation can truly aid a Realtor by educating the sellers about the agent’s and brokerage’s strengths, and then also of the entire listing through selling process. Furthermore a great listing presentation can provide some structure to the meeting to be sure the important topics are covered and the important questions are asked.
I totally agree in the above two articles that having a listing presentation will not magically make the phone ring, that is 100% true. Getting listing appointments is a whole other conversation. Agents need to be pro-active, professional and ultra persistent to get the listing appointments. Many listing appointments for seasoned veterans can come from print ads, sign calls and referrals. From cold calling to farming there are many methods to try to build a start as a newer agent who does not have the normal flow of leads a veteran agent enjoys. Once the appointment is secured, for both the newer agent and even the veteran agent, a good listing presentation can really help in many ways.
Listing Presentation as a Practice Tool
The above mentioned Inman articles also mention how these great agents just go in and talk their talk and get the listing. That may be easy for many seasoned agents, but not for newer agents, less aggressive agents, or even agents who may be a bit less socially skilled. For a newer agent, they don’t always have the right answers and the smooth speech down just yet. A good listing presentation can be of help to them. It can be a guide for them on how to conduct a good listing appointment. Even if they don’t use the entire presentation page by page, it is a great teaching tool for what to say and when. Even if they only use the listing presentation as practice tool, and go in to the appointment without directly presenting from it, they will have the foundation and be more prepared of what to say, and when. In my own listing appointments I use the entire presentation when I can, based on the seller’s willingness to follow along. I often rush through certain sections and focus only on particular pages, depending on the home seller’s interest.
Educating Home Sellers
A listing presentation is really helpful when dealing with new home sellers to educate them on the process. Many of them have little to no idea of what is done, when, and why. It so much better to educate them at the beginning so they are not always calling you in frustration later on. For experienced and sophisticated sellers, you can simply refer to your section on marketing to show off what you’ll be doing for them as that is what they probably want to see. Even if you don’t go through the full presentation, when you swipe though the pages to get to the portion you want to show, you’ll look very thorough and professional vs. an agent who interviews with nothing to show.
Setting Realistic Expectations
There is a balance of getting the listing, and getting the listing the way you want it. A really good listing presentation can actually educate the home seller so they can make better decisions when the time comes to do so. It can also set realistic expectations for the seller so they are an easier and more cooperative client to deal with. Sellers do need to know all the amazing things we do for them, and much of it they have no idea of what is going on. They also need a lot of guidance and help on pricing, and getting the home ready to sell. A good seller is a seller willing to be more of a partner in the process, rather than an adversary. A good listing presentation can build this relationship from the start. If the listing fails to sell in the listing period, often the next agent who promises the world usually gets hired in place of you. If the seller is well educated, and has acted as a partner in the process, yet the home fails to sell, he will be more likely to re-hire you, and counsel with you on what needs to be done, rather than quickly hiring the next agent in frustration.
A Training Tool for Brokers
For brokers, managers and real estate company owners, a good listing presentation can be a great tool in training newer agents on how to conduct listing appointments. This can also be a great recruitment tool and agent retention tool for these brokerages. A good listing presentation can make a newer agent seem confident and educated, and can make the brokerage look great to potential clients. For a new agent, if they simply follow the structured, organized and powerful listing presentation, they will look very experienced and be very thorough.
I have spent years creating and fine tuning our Steps to Success Listing Presentation. I sell them at a very reasonable cost, and I know I am helping many agents be more successful with a really good product. Yes there are many other “cheesy” listing presentations to buy that offer little value, but my listing presentation does help, and does help educate and manage sellers, and in doing so is a valuable tool for the agents using it. So I would not bag on the canned listing presentations too much, as they do have a time and a place and can be quite helpful if done right.
Article written by Sean Matyja. Sean is an experienced Realtor® and Associate Broker with Summit Sotheby’s Intl Realty in Park City, Utah. In addition to working in day-to-day real estate, Sean has created the Steps to Success Listing Presentation that many brokers and agents use today.