If sellers are driving you around the bend, you need some new strategies.
What percent of listings are selling in your marketplace? If you don’t know, find out—right now. (And, use the information in your listing presentations. Sellers need a ‘reality check’). I’ll bet there isn’t a huge percentage selling in a reasonable amount of time. So, how do you avoid wasting your time dragging yourself to seller presentations that don’t result in a marketable listing?
Setting the Stage
How do you set the stage for a professional relationship with a seller? Most likely you’ll have a phone conversation with the seller before you do anything else. This is where many agents waste time and energy. They hear the seller say, “I want you to come over and tell me what my house is worth”, so they run over. Then, they find out the seller is listing with another agent, wants the evaluation for insurance purposes, or wants to move in one year, etc. Even worse, the seller says, “Just drop a competitive market analysis (CMA) on my doorstep. I’ll let you know if I want you to list the property.” The agent dutifully completes a CMA, drops it on the doorstep, and finds out another agent has listed the property! Who wins here?
Five Questions You Should Answer for Yourself to Save Your Time and Set Your Professional Standards
Do you have standards for those sellers? You should. Avoid wasting your time and being disappointed. Here are five important considerations to answer for yourself to see if your “pre-first visit” system is up to standard:
1. Would you go to a seller’s home just because he asked you to come over? If not, what are your standards?
2. Would you give the seller a price opinion without a thorough analysis of the market trends and of the property?
3. Would you go to the seller’s home without knowing why he is moving?
4. Would you go if the seller wouldn’t let you explain how you work?
5. Would you go to the seller’s home of all sellers were not present?
If you answered ‘yes’ to any of these questions, you probably are doing too much work for not enough income! Establishing standards to meet for first visits, along with a pre-first visit questionnaire will assure you use your time wisely.
Looking for guidance in listing practices? Want an effective questionnaire for sellers? This resource has a PowerPoint presentation, along with dozens of ways to answer the sellers’ toughest questions.