Emotional intelligence is crucial to success in any industry, but especially so in real estate. Emotions are running high from all sides during these types of transactions, and you are generally not experiencing people at their best as they are either trying to navigate their own large financial decisions, the emotions of their client, the agent on the other side, your own stressors…the list goes on and on.
Then, if you’re in a leadership position, you have the joy of experiencing this on an exponential basis as you work to support everyone on your team. At times, everyone sharing their emotions with you can feel overwhelming. As a former Broker-in-Charge for 200+ agents this is a topic that is near and dear to my heart, as you might be able to imagine! When you work towards high emotional intelligence it helps you navigate complex relationships, handle high-pressure situations with grace, and inspire trust from those who work with you.
Emotional intelligence isn’t something that you can perfect – you’re going to have bad moods and even bad days – but working towards a higher level consistently will improve your life, professionally and personally! Here are some ways you can actively level up:
Practice Self-Awareness This is the foundation of emotional intelligence. Think about and seek to understand how you react in different situations. This will help you manage your own emotions and ensure that your responses are measured and thoughtful, not impulsive. If you struggle to do this a journal will help you recognize patterns and identify areas for growth while allowing you a private place to vent when the going gets tough.
Be a Master Empathizer Leaders who show empathy build stronger, more trusting relationships which can translate into better team performance, retention, and client satisfaction. Also, when you are actively working to empathize, it encourages those around you to as well as leading to a more emotionally intelligent workplace overall. If you’re not sure where to start, actively practice listening without interrupting or silently planning what you are going to say next. Attempt to fully understand the other person’s view before offering feedback or a solution. If you’re not sure what to say, “I understand how you feel,” really goes a long way.
Improve Your Emotional Regulation Real estate is a wild and exciting industry to do business in and, as a result, it can sometimes be hard to maintain composure. Remaining calm under pressure means you will be better equipped to make rational decisions and lead your team through difficult times. Emotional regulation means controlling your emotions in a way that prevents them from negatively affecting your decisions or relationships. Don’t read me wrong here – I am not saying do not HAVE emotions. Have all the emotions you can, just work to be aware and control how you respond TO your emotions. See what I mean?
Try this: The next time you’re faced with a stressful situation, pause, breathe, and assess from all sides before acting. My go-to here is to try to assume when someone tells me something, that I have less than half of the information. This keeps me from jumping to conclusions and being reactive because I already know that I need to seek more information before I should do or say anything. Then, I work to get the other side of the story, put together the entire puzzle, and then decide the way forward.
If you find yourself frequently being reactive, find a mindfulness technique (deep breathing, journaling, meditation, yoga… etc.) that works for you, and try to build a short daily practice to stay ahead of your impulses. It won’t happen overnight, but you will definitely see a difference if you stick with it.
Seek Feedback Even the most self-aware are still viewing themselves through their own lens. Seek feedback from trusted colleagues to gain insights on how others experience your leadership style. You can also conduct regular 360-degree feedback sessions where your team can anonymously share their thoughts. Be open to this feedback and use it as a tool for growth!
Develop Relationships and Social Awareness Make time to connect with your team. Regular check-ins and showing genuine interest in their well-being can strengthen your relationships and inspire more collaborations and growth across your organization. As you spend time with your team, make it a habit to observe non-verbal cues like body language, tone, and facial expressions. This will help you to read the room and gain insights into unspoken feelings or concerns, allowing you to address them proactively and foster an environment of transparent and respectful expression.
Emotional intelligence isn’t just a “soft skill” it is critical to creating an organization where your members can thrive and want to remain long-term. Get started with these ideas and start building your emotional muscles!
We hear about agent safety measures, but is this something that you have policies and guidance for within your organization?
If not, we’ve got you! Use our Safety Tips for Agents list as a guide to discuss ways with your agents to be more aware of their surroundings, be proactive about their safety, and arm them with exactly what to do should they find themselves in a place where they feel uncomfortable.
Above all, slow down and trust your instincts. No transaction, client request, or amount of money is worth your safety!
I love real estate events. The energy is always fantastic and I love hearing from others about their approach to real estate and what is working for them. With so many ideas being shared, it’s a really exciting and energizing place to be, even virtually!
This event was jam-packed with great insight and actionable items and I took notes for you, in case you couldn’t make it or want to revisit a few topics. Be sure to check out the table of contents on the left-hand side to jump from session to session.
Trust is the cornerstone of successful transactions. Whether you’re dealing with first-time homebuyers or seasoned investors, building and maintaining trust is essential for fostering long-term relationships and ensuring smooth transactions. Building trust in real estate transactions is not just about closing deals; it’s about creating lasting relationships based on honesty, integrity, and personalized service. By implementing these strategies, you can enhance your reputation as a trustworthy leader in the real estate industry and foster long-term client loyalty.
🤝 Transparency is Key
Transparency is the foundation of trust. Ensure that all information related to the property, including its condition, history, and any potential issues, is disclosed upfront. This honesty not only prevents future disputes but also shows clients that you prioritize their interests. When in doubt, it’s best to disclose and check with your Broker-In-Charge for guidance.
Try this: Create a comprehensive property file for your clients that includes inspection reports, repair histories, and neighborhood statistics.
🤝 Effective Communication
Clear and consistent communication is vital. Set expectations early and keep your clients informed at every stage of the transaction, from initial inquiries to the final closing. Respond promptly to their questions and provide updates regularly. Remind them regularly of what you just accomplished, what you are doing next, and what comes after that step. This not only keeps them informed, but reassured that you have a plan for what comes next and can tell them what to expect.
Try this: Use multiple communication channels like emails, phone calls, and text messages to cater to your clients’ preferences and ask them at the beginning of the relationship which they prefer.
🤝 Professional Integrity
Your actions and decisions should reflect the highest standards of professional integrity. This includes adhering to legal and ethical guidelines, respecting confidentiality, and avoiding any conflicts of interest. Your word is part of your brand so ensure that if you say you’re going to do something, you follow through every time.
Try this: Regularly review and update your knowledge of industry regulations and ethical standards to ensure compliance. Keep excellent notes within your CRM so that you can ensure you are following through on promises made.
🤝 Personalized Service
Treating each client as an individual rather than a transaction can significantly boost trust. Take time to understand their unique needs and preferences, and tailor your services accordingly. Get to know the real why behind their motivation for buying and selling.
Try this: Learn about your clients’ goals, lifestyle, and future plans to provide personalized advice and solutions. Ask open-ended questions and take notes so that you can refer back to what you discussed so that they know you were actively listening and engaged.
🤝 Building a Strong Online Presence
A strong online presence is also essential for building trust. Ensure that your website, social media profiles, and online reviews accurately represent your brand and services. The potential client reviewing your online presence is regularly part of the process of determining whether or not they want to work with you, so make sure whatever they find assures them that you are experienced, capable, and confident in your ability to work with them as their agent.
Try this: Encourage satisfied clients to leave positive reviews and testimonials on platforms like Google, Zillow, and Yelp. Take a look at your social profiles and website as if you were a consumer and update accordingly. Ask a friend to do a search for you and see what they recommend.
🤝 Continuous Education
Staying informed about the latest local and state regulations, market trends, technologies, and best practices demonstrates your commitment to providing the best possible service. This ongoing education can also help you offer more accurate and valuable advice to your clients. Take this seriously, you have a responsibility as a license holder!
Try this: Attend industry seminars, webinars, and workshops regularly, and consider earning advanced certifications beyond your required CE classes.
🤝 Building Relationships Beyond Transactions
Show your clients that you value them beyond the current transaction. Follow up after the sale, offer assistance with moving vendors, and check in periodically to see how they’re settling into their new home. Someone who just purchased is a future seller so don’t let them fall out of touch with you.
Try this: Send personalized thank-you notes or small gifts to celebrate milestones like the anniversary of their home purchase and stay in touch by offering help with local vendors for home upkeep and repairs as well as local events.
Mark Twain said, “If it’s your job to eat a frog, it’s best to do it first thing in the morning. And if it’s your job to eat two frogs, it’s best to eat the biggest one first”. While this advice is evergreen, it’s especially important during the summer months to ensure that you are accomplishing what you need to and still have time for fun activities. Here are some things to consider as we refresh on this strategy:
🐸In the long run, this approach will help you overcome the fear of difficult tasks or stop procrastinating on them. This leads to a boost in productivity and a reduction in stress levels as you will feel more in control of your day.
🐸More challenging items require more effort, and if you leave them until the end of the day it is highly unlikely that you will be more motivated to complete them at the end of the day than the beginning. Decision fatigue is real, and knocking out your important work first will take less of a toll on you mentally throughout the day.
🐸In real estate it’s wise to leave time in your day for the almost guaranteed reactive items that come your way. If you have already completed the must-do or most challenging item, you will be in a much better mindset to tackle the whirlwind than if you are still trying to complete a project.
🐸Summer schedules, especially for those of us with school-age children, can often be challenging even though they are jam-packed with fun things. Different drop-off and pick-up times and weekly shifting schedules with camps or childcare often leave either us or people on our team feeling frazzled as a baseline. Knocking out your most challenging or important items first allows you to have more ease in the rest of the day knowing that the heavy lifting is done.
🐸Take a look at your work management system and while you are listing out everything you need to do during the day, begin to prioritize the most challenging and must-be-done-today items first. Knock those out very first thing and create a habit of doing this every day so that it carries you throughout the entire year.
🐸 More effort doesn’t always yield more results. Figuring out how to accomplish the work you need to do within working hours is important not only for your business but your mental health. Many of us believe that adding hours to our work week will help us accomplish more, but that will take a toll mentally, emotionally, and physically ultimately leading to lower production and other unwanted side effects. Rather than more hours, most of us just need a re-set to our approach to work and how we manage our time.
It was Shark Week this week on The Discovery Channel and, while there is always more to learn about the behavior and anatomy of these fascinating creatures, they also give us some examples of traits that we can emulate to help us as sales professionals. Don’t worry, I’ll try to keep the puns to a minimum.
🦈 Keep Moving Forward. Sharks need to stay in constant forward motion to breathe. If you get hung up on an unsavory encounter with a prospect or any number of challenges that happen during a real estate transaction you may also (metaphorically) be finding it hard to breathe. Overcoming challenges is the name of the game in real estate, so actively practicing ways to not get overwhelmed when the inevitable happens, will ensure that you can keep moving forward to take care of your other clients or prospect for new ones.
Ideas on how to do this: Keep a sales journal to write down what went wrong and ideas of how to prevent it moving forward. By getting it out of your brain and onto paper, you won’t weigh yourself down by holding onto that negative encounter. Practice mindfulness and establish a strong life and work balance. If you’re not teetering on the edge all the time, you won’t be so reactive as a baseline when things don’t go your way.
🦈 Know Your Role. Sharks are apex predators and are very comfortable with their position on the food chain. As a successful sales professional, you are in the apex position of your market. Figure out where your time and energy are best spent for maximum results and then use tools, the power of your team, and outsourcing to accomplish the other items. By trying to do everything, you may dilute your best strengths. Knowing your role within your organization or community will help you dig deeper on what you do best and allow others to do what they do best.
🦈 Sharks AREN’T Mindless Killers. Shark Week illustrates that there is a lot more to sharks than their earlier reputation of being just mindless biting killing machines. Sharks are curious creatures, but they aren’t just biting everything in the sea. In your prospecting and relationships exercise your curiosity about the other person, their experience, and what they want to accomplish. Avoid being the mindless “killing” machine just trying your sales pitch on anyone who will listen and dig deeper to establish a relationship where you can be the one to help them with their real estate transactions for life.
🦈 Don’t Let Fear Stop You. Yes, there are sharks in the ocean and yes, there is a very VERY slim chance that you could meet one while you’re swimming. But you shouldn’t let that small chance stop you from enjoying a day at the beach. Don’t let fear stop you from trying that new tool or prospecting strategy! Being bold will help you keep your place as the apex salesperson in your market!
🦈 Stay Sharp. Sharks have between 5-15 rows of teeth, depending on the species. This means as one tooth becomes dull or falls out, there are many more ready to slide into its place allowing the shark to always have a mouth full of tools to get its job done. You can stay sharp in your profession by carving out time to learn about new tools and strategies that are being used successfully by others in the industry. Read books, listen to podcasts, mastermind with others outside your market, take classes, and attend conferences. Continuous learning will help you to stay sharp!
From client meetings and property tours to strategy sessions and team management, leading in the real estate industry requires you to wear a lot of hats and use a lot of energy each and every day. The instinct might be to cram every minute of your calendar with activities, believing that a fuller schedule equates to higher productivity. But what if I told you that scheduling less could make you more productive?
Consider the concept of “time blocking” – while it’s effective to a point, overusing it can lead to burnout and reduced efficiency. The key is not just to manage time but to manage energy and focus. By reducing the number of scheduled tasks, you allow yourself more mental space to tackle unexpected issues and capitalize on new opportunities.
Research shows that our brains need downtime to function optimally. Studies have found that periods of rest are crucial for memory consolidation and creative thinking. For real estate leaders, creativity is essential, whether it’s in negotiating deals, designing marketing strategies, or solving complex client problems.
By scheduling less and allowing for breaks, you give your brain the necessary space to process information and generate innovative ideas. This “mental whitespace” can lead to better decision-making and problem-solving abilities.
In real estate, the quality of interactions often trumps quantity. Instead of trying to meet with as many clients as possible in a day, focus on deepening relationships with a few key clients. This approach builds stronger, more meaningful connections, but also leads to higher client satisfaction and loyalty.
When you schedule fewer, more intentional meetings, you’re able to prepare thoroughly and engage more effectively. This leads to more productive conversations and better outcomes for your business.
When you’re constantly moving from one meeting to the next, it’s challenging to maintain focus and productivity. Multitasking can lead to errors and omissions, which are costly in real estate. By scheduling less, you reduce the need to multitask and can dedicate your full attention to each task at hand.
Consider adopting the “80/20 rule,” or Pareto Principle, which suggests that 80% of results come from 20% of activities. Identify the tasks and meetings that truly drive your business forward and prioritize them. Eliminate or delegate non-essential activities to free up your schedule and enhance your productivity.
Working long hours and sacrificing personal time for professional obligations is an unfortunate habit many of us have fallen into in an effort to build our businesses and show our potential clients what great service we can provide. However, a well-balanced life is crucial for sustained productivity and well-being. By scheduling less, you create more opportunities for personal activities and self-care, which in turn improves your overall performance.
Remember that your health and happiness directly impact your effectiveness as a leader. Taking time for yourself can lead to increased motivation, better work-life balance, and a more positive outlook.
When you’re ready to start scheduling less and boosting your productivity, here’s how you start:
Evaluate Your Current Schedule: Review your calendar and identify non-essential meetings and tasks that can be eliminated or delegated.
Prioritize High-Impact Activities: Focus on the tasks that contribute most to your business goals. Schedule fewer, but more significant, activities.
Incorporate Buffer Time: Allow for buffer periods between meetings to handle unexpected issues and recharge.
Schedule Downtime: Intentionally block out time for rest, reflection, and personal activities.
Embrace Flexibility: Be open to adjusting your schedule as needed to accommodate new opportunities and challenges.
Scheduling less isn’t about doing less—it’s about doing more of what truly matters. By focusing on high-impact activities, allowing for downtime, and maintaining a balanced life, you can enhance your productivity and effectiveness as a leader in real estate. Embrace the power of less, and watch your success grow.
I’d be insane to think that you don’t understand the importance of time management, but there is an aspect that is important for us to consider this week that we don’t normally talk about. The importance of practicing what we preach. Our staff, our agents, and any other professional that comes into our orbit learn so much more from observing what we do and how we do it than what we tell them to do. So if we, ourselves, aren’t masters of time management, how can we expect those we coach and lead to be?
The subject of practicing what you preach always makes me think of my Dad. He never talked to me about the importance of showing up, but this is something that has served me well both personally and professionally and I learned it from watching him. Yes, we stayed home if we were truly sick, but observing him never missing a piano recital, a sporting event, a Girl Scout meeting, or work – even when he was going through chemotherapy – taught me infinitely more than what he could ever say to me on the subject. I learned that the act of showing up is important. It builds and strengthens relationships, develops you as a leader, and helps you to get that promotion or land that big client.
So using this same theory here – what are we indirectly saying to the people we lead and influence? Are we telling them that we cannot manage our time and our work during the 40ish hours allotted for it during the week? Do they see us burning the midnight oil, choosing work over our friends and family on weekends? Are we telling them that the expectation is for them to be overwhelmed and reactive with their responsibilities? You may be able to say, “Well, I never TOLD them they had to work nights and weekends!” but the indirect implication that this is expected or encouraged can lead your team toward a path of burnout, careless mistakes, and poor customer service.
Happy staff and agents = happy clients. By modeling amazing time management, you will help them to excel in their responsibilities and achieve that highly coveted work-life balance so that they can feel great about their career and stay with you for many years to come.
Do some self-reflection and try out some of these tips. If this is something that your organization struggles with, you have the power to change it!
💰Understand Your High-Value Activities. High-value client interactions, strategic planning sessions, networking with potential partners. Prioritize the tasks that strengthen and grow your business the most to ensure you’re focusing your time and energy where it matters.
⚖️ Use the Eisenhower Matrix to help you categorize your responsibilities. Draw four boxes and enter your items accordingly:
Urgent and Important: Complete these immediately
Important but Not Urgent: Schedule these on their appropriate dates
Urgent but Not Important: Delegate these to someone else
Not Urgent and Not Important: Don’t waste your time or anyone else’s on these
🗣️ Delegate to Empower Your Team. Delegating not only frees up your time, but it builds trust and fosters a sense of ownership, which boosts overall productivity. It also helps your organization to grow. If you are the lone person within an organization that can do something, they will be completely handicapped if you need to take leave, get sick or injured, or God forbid, go on vacation. Be sure when you are delegating that you give clear instructions and deadlines and be flexible on HOW these items are done. Your way may not be the best way. Replace yourself and watch your business grow!
💻 Leverage Technology. Tools like Asana, Trelly, or Monday.com can help you organize tasks, set deadlines, and track progress. They facilitate collaboration and keep everyone on the same page, reducing the time spent on meetings and following up.
🚀 Automate Routine Tasks. Use tools to automate repetitive tasks and create slides instead of stairs for things like routine email responses, appointment scheduling, and data entry.
🏗️ Have a Structured Schedule. One strategy here is to dedicate mornings to strategic planning and afternoons to client or staff meetings. Blocking your time helps you to maintain focus, minimizes distractions, and allows you to schedule work according to when you can perform your best. If you like to crush it in the mornings, keep your strategic work and big-thinking items early in the day. If you need a while to warm up and rock the afternoons, flip it around. Bear in mind, though, that this strategy only works if you protect your time blocks. If you are regularly breaking your own rules, you’ll soon be back into chaos. Find something that works and commit to it.
🤝 Optimize Your Meetings. Every meeting needs a clear purpose, an agenda, and a strict time limit. Similar to our item above, you have to stick to the agenda once established to avoid wasting valuable time. If you can’t build an agenda, cancel the meeting and actively practice not running over on time. A meeting that runs late sends everyone into reactive mode for the next day and a half and can easily be avoided by sticking to the planned agenda.
🧘♀️ Practice Self-Care and Work-Life Balance. Incorporate short breaks. Drink water. Eat lunch. Regular breaks and taking care of yourself boosts your overall productivity and mental well-being. Be sure to set boundaries between work and personal time. If you’re taking time off to relax and rejuvenate, you will prevent your own burnout and maintain that crusher level status you have for a long time. Modeling this for others will help the overall organization to achieve it as well.
👂 Ask for Feedback and Adjust. It’s easy to get into patterns and habits, regularly review your time management strategies and their effectiveness, and ask for feedback on ways both you and the overall organization can improve. Your team will offer valuable insights from their own experience on how to streamline your processes.
Effective leadership isn’t just about making decisions; it’s about fostering an environment where problem-solving thrives. Whether you’re managing a small team of agents or overseeing a brokerage, giving your people strategies they can use to brainstorm creative solutions and solve problems independently will enhance productivity, collaboration, and the success of the business. One technique to offer them is the 1-3-1 problem-solving approach.
Here’s how it works:
Identify the Problem: Clearly define the issue at hand. Whether it’s a lagging sales strategy, client communication is in the dumpster, or your operations staff needs to get organized, pinpointing the problem is the crucial first step.
Generate Three Potential Solutions: Brainstorm to generate a variety of potential solutions to the problem. Emphasize creativity and diversity in ideas to explore different perspectives and approaches. You’re going to be pleasantly surprised with what your team comes up with!
Select the Best Solution: After evaluating the pros and cons of each proposed solution, choose the one that aligns best with your objectives, resources, and values. Consider the feasibility, impact, and long-term implications of each option.
Easy enough, right? Encouraging and employing this strategy will do so much more for you and your business than just taking things off your plate.
🤔 Promotes Strategic Thinking: Rather than reacting hastily, individuals are prompted to analyze the root causes of problems and devise thoughtful solutions.
👯 Fosters Collaboration: Each team member contributes unique insights and expertise, leading to more robust solutions.
📈 Boosts Accountability: By actively participating in generating and evaluating potential solutions, individuals feel a sense of ownership and accountability for the outcomes. This fosters a culture of empowerment and initiative within the organization.
🛸 Encourages Innovation: By empowering team members to think outside the box, you can drive continuous improvement and adaptability.
💡 Streamlines Decision-Making: By weighing the pros and cons of each option, you can make informed decisions with confidence.
Give it a shot and see what it does for your to-do list and your team as a whole!
Seller Processes & Contracts with Emily Kettenburg
I attended this webinar on May 8, 2024. Here are my notes, enjoy!
Also on the panel: Sandra Hendrix, Carolyn Augur, Tausha Fournier, and Stephanie Younger
This is the halfway point through the NAR Effect Webinar Series.
The ability to balance your business as both a buyer agent and listing agent is the key to growth in your business.
Forms and processes are the only things that are changing, there’s no reason to have your hair on fire.
Lean into your state and brokerage-specific forms. Each state is reviewing their forms and are making the necessary adjustments. Each state will be a bit different, so be sure you are paying attention.
Five-Part Listing Process:
Prelisting consult and fact-finding
Knock knock and walkaround
Sit down – why us and exposure
Pricing presentation
Signature
Real estate is a relationship business built on trust, the commodity is the house. We are in the trust business.
Step 1: Prelist and homework.
This is a fact-finding mission. Do your homework and ask questions in advance to prepare for the in-person meeting.
Step 2: Knock Knock and Walkaround
Thanking the client for choosing us, gaining trust and showing professionalism. Show them you appreciate them spending their time and that they’ve chosen you to come talk to them today.
When you tour the home you take notes so they know you are actively listening. Even if you don’t need to, take the notes to show them how committed you are to the details.
Step 3: Sit down
Unique value proposition. This is about creating the value for them. Explain how you are going to share their home with the market.
Step 4: Pricing Presentation
Make sure the seller understands the difference between fair market value, vs perceived value.
Fair market – highest and best price that someone will pay without any undue stress to the buyer or seller.
Explaining agency and how commission works/how everyone gets paid.
Explain how agency works in your state. Be sure to bring a buyer agency agreement with you to the listing appointment so they can see what the buyers are signing before they view the home.
Step 5: Signature
You’re asking for the job of marketing and selling their home.
Each part of your process is a conversation that takes your seller one step closer in their decision forward to hire you. Each of these steps is your interview. They aren’t your client until you have a signed agreement with them and they have a copy of that signed agreement.
Don’t underestimate the value of a true client for life. Your goal is to represent them forever.
Today’s consumers want to be served vs hard sold. They need and deserve a clear understanding of how we work for them and how we represent them.
The biggest complaint of real estate consumers is communication. It’s been #1 on the list for the last 20 years.
What is working for Step 1: Pre-List and Information Gathering
Break it down into 3 basic objectives that you want to happen during this step:
Establish or re-establish rapport
We are solution oriented people, we sometimes need to slow down and connect with the person that is the client. Don’t go straight to the sale. When you are connected, you work together as a team. Rapport is often skipped or rushed, but this is the foundational piece of the relationship. This helps you to have hard conversations down the line.
Situational details. What are the details of the situation that you need to know.
Why. When. What has to happen in order for this move to be successful. What timelines do we need to be aware of? What other things have to happen prior to us hitting the market.
Property details. What has changed since you last saw the house?
What changes have been made? Upgrades or updates? Ask them what they think it’s worth.
The agents who have these three steps down, are consistently bringing in more listings. This helps the potential client to see what it’s like to work with you. They can relax into the process and trust that you’ve got it.
Most people think they win or lose their presentation on price. Not true. You most often lose on step 1 or two.
Step 2: Knock Knock and Walkaround Strategy
Is there a way to turn one listing into multiples? This is also known as a viral listing strategy. This is the part where you establish the expectations. Expectations can only be met when they are understood.
ListingLeads.com – you can find a ton of scripts here from Tom Ferry and Jimmy Mackin
Viral Listing Strategy: Before we even go to the appointment we are going to send an email to our database that says that I’m going on a listing appointment! I can’t share too much about the house, but I’m about to meet a potential seller who is thinking their home. I can tell you that homes of this size/neighborhood/etc. Typically sell at _____ price. If you’d like more details, reply back and I’ll send them to you.
You can also turn this into an Instagram story with a poll to generate interest in the potential listing as well.
When you get to the appointment, you can show the results of these two+ efforts to the potential client. This shows the potential interest in the market about their home and will also show the potential client you are already making efforts to sell their home.
When walking around, keep the focus on the client. The walkthrough is the most important part – you are getting to know the house so you can market the message. What’s the story of the home, what did the seller enjoy most. Ask about renovations, ask about any known repairs that need to be made. Why are you moving? Where are you moving to? What’s important to you? What do you want out of this transaction? This is the time to build trust by being a great listener.
Is there anyone else that needs to be involved with the decision-making?
What are your communication preferences?
Tell me about your financial situation. This is an enormous financial decision – treat it with respect.
You need to understand the market financially and be able to explain it to them.
Ensure that you are using “we” in conversation.
Frame your expectations: you expect them to sign with you and for you to sell the house in terms that suit them best.
Marketing and messaging is important and you collect most of this information during this part of the process.
This is a great opportunity to build trust and rapport. We are giving them all of our attention and showing that we are working together to sell this home.
Also by asking these questions you can kind of figure out their social style or DISC profile to help you during the sit-down portion so you know what to focus on that will be much more important to them.
Numbers people?
Emotions/Feel people?
Marketers need to know their audience – the seller is your audience for this presentation.
A small gift/gesture also helps during the initial meeting.
Role play these conversations so you are really comfortable and know how to cover all the questions you need to ask.
Step 3: The Sit Down
Your Unique Value Proposition and your unique marketing is presented during this time.
Most sellers want to know that you have a social media strategy to market their property. You will need to be able to illustrate what you will do and how you are different than others in the area. We are in a sea of sameness – this is your opportunity to really stand out and highlight what you’re doing from a marketing position that will solve problems for them in this process.
What are your favorite things to do? What can you do to give additional exposure to their listing?
Go through your entire presentation. Are you highlighting everything that you do that solves problems and creates add’l exposure? Or are you just highlighting the things you like the most? You may be excited the consumer needs to know how this will benefit them and the results that you get from those activities.
Show your efforts before, during, and after the sale to generate interest.
If you show your social media post and email that you sent out prior to the meeting and the results, it shows that you are willing to do the job before you even get the job. You’re already working for them and they didn’t even ask!
Your value is the problems that you solve for the seller and exposing the property to the largest amount of people possible. Illustrate how you do this for them
Step 4: Pricing Presentation
Reconfirm why they are moving, what their financial situation and goals are, and figure out their communication style.
The analytical will want more information and specifics. Know who you are presenting to
Four pricing strategies you need to know for each of your listings
Value market pricing. Creating a CMA and pricing accordingly to that. You’ll use this strategy in a buyer’s market.
Price Banding. When you separate your listing price from the bulk. Most listing you are looking at in this area. Let’s price it a little bit out of the group to draw more attention. If all the homes are between 300-320k, list yours at 299k. Don’t have your listing bunched up with other listings, separate it a little bit lower from the group so it gets more views.
Price High and test the market. You can only do this if the home has something unique. Use only in a seller’s market.
Psychological Pricing. Set your price apart so the buyer feels as though they are getting a deal. $299k vs $300k
Agency in your state – understand both buyer and seller agency and how they work. Be able to explain these to the client.
Bringing a buyer agency contract and explaining it to your seller during the meeting
Most of us don’t give the whole picture of the transaction. Especially with the upcoming changes, it’s especially important to illustrate what the buyers are doing and how they work.
Step 5: Getting the signature
The hardest part of getting the listing is getting the lead in the first place. The more opportunities you have to get in front of sellers, the better your listing strategy will be. Prospecting more and talking to more people is key to building the listing side of your business.
Stephanie made a commitment to go on 200 listing appointments in one year. She signed 72 that year. Her conversion wasn’t great out of the gate, but it takes time and practice by going on tons of appointments to improve.
The power of closing is more of a mindset than specific words. In their listing process they have a seller intake call that takes roughly 30 minutes. A walk through that’s 30-45 mins (they say it takes 15 minutes). Their presentation is about an hour and a half or longer. She gets a lot of criticism that this is a long time, but it’s worth the investment of preparation and time with the client. You are interviewing for a job that pays a lot, it should be taken seriously. The likelihood of you getting the listing is better the longer you are taking with the client.
Their strategy is asking lots and lots and lots of questions. One of those is “what price are you hoping to get for the home?”
Practice the art of asking more questions. Your goal should be to listen more than you talk.
There are six types of closes. You’ll want to change your strategy depending on who you are talking to. You can use them situationally and together.
Have a well practiced and well researched presentation. If you don’t have this, there’s no closing trick that will help you secure that listing. You must have a listing presentation.
A, B, C. Always be closing. This is closing the client throughout the entire presentation. Try to get agreement throughout the conversation. “Because you said yes to this….” You can use a summary close at the end to review.
Read: Never split the difference by Chris Voss – use a late night FM radio DJ voice a bit to create a calm conversation.
In her listing presentation, she practices the art of being slow and even, curious and clear, and controlling her facial reaction or flushing reactions. A professional expects objections and questions. Don’t let your tone and face show that you are uncomfortable about commission or any other matter.
You will be improving all the time. Even with 20+ years of practice there are always ways to improve and do better.
Learn to keep track and re-state what they said was important to them. This shows that you are listening. She likes to use summary close paired with an assumptive close:
Because you said this was important to you…and this and this…and I love this house and would be honored to sell it, I would love to list this house with you. Or it sounds like we are ready to work together (if you are feeling super confident).
I’ll get the paperwork sent over to you to sign/I have the paperwork right here for us to sign.
Don’t oversell it. Summarize what is important to them that you can deliver to them, say that you would be honored to sell the house, and then ask them to sign the paperwork.
If you don’t have a well-practiced process and presentation, you probably aren’t going to get the listing anyway. You can practice and you can get better.
Ask the potential client if they have heard about the NAR changes and walk them through the facts regardless of their answer.
A conversation is a frame. Start with curiosity, move into empathy, and then move into a close. Don’t skip steps or they won’t be comfortable.
Building trust happens in all 5 of the steps.
You are closing throughout the process, just don’t forget to ask for their signature before you leave.
It’s not anything other than forms and processes. Don’t be intimidated by big NAR changes here. If you can clearly convey options the seller has, how everyone gets paid, this process will be easy.
Know your forms and rules inside and out.
Be able to convey your value.
Bringing a buyer agency agreement with you to the appointment so that the seller understands what buyers are going to be seeing before they view their home. This also helps them to understand how the commission works on the buy side.
If the seller is also potentially a buyer, you are getting a step ahead there as well.
