The best real estate advice I ever received was this:
“If you want to be great in real estate, get good listings. When you have a good listing, everyone else (real estate brokers) works for you.” The definition of a good listing is: “A property that is priced right, in good condition, with a motivated seller.” The only thing worse than not having a listing, is having a listing you can’t sell. Attracting sellers can be more difficult than attracting buyers, however, it takes less effort to work with a seller if you have a process. Before we ever list a property for sale, we must first “list” the seller. We have to earn the right to be their trusted advisor, and it begins with asking great questions.
Five Step Process to Listing the Seller:
1. Pre-listing interview
2. Call Title Company and order the listing packet
–Two-page property profile
–Legal description
–Site map
–Plat map
–Comparable properties (comps)
3. Quick CMA (active, pending, sold)
4. Tour property with the seller
5. Listing appointment
When the Pre-listing Interview is successfully completed, 70% of listings will be taken before the broker ever sees the property. The goal in providing the seller packet is to explain the selling process, build rapport, and set expectations. Only 20% of real estate professionals will provide the seller with a detailed seller packet.
The key to any successful real estate transaction is communication. Have a communication plan and explain to the seller what they can expect from you. During the first week of the listing, call the seller daily to update them on the progress, even if there isn’t any. Visit the property once per week (for me, this was Friday between 10:00-2:00). Every 21 days, meet with the seller in person to review the marketing efforts and broker feedback. Ask for a price adjustment after 30 days.
The two most difficult weeks in the home sale process are the first week and the last week. What your client remembers at the end of the home sale process will determine whether or not they refer you to their family and friends. Ask for testimonials! No one can sell your service better than the people you serve.
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