Would you give yourself the listing?
Seriously, I’m not joking.
Do you believe in your heart of hearts that you are the best agent in the area?
- Achieve the top prices?
- Sell in the shortest time with the least discount?
- Always have happy customers who recommend you?
If you answered “YES”, then you should stop reading because you are brilliant. If not, I will try to provide some pointers that will help you achieve more listings.
My first tip is to accept that you can’t please everyone, and nor should you. A case in point is the vendor who wants way too much money and can’t be persuaded to see reason.
One strategy might be to take on the listing and relentlessly pound away until you beat the guy down or give up. Another might be to stay at home and relax. You’ll enjoy the second choice more and probably have the same chance of achieving a sale. More importantly, your reputation won’t suffer from (a) listing an overpriced ‘turkey’, and (b) not selling the place.
The moral is to be selective. All you have to trade is your time and expertise. Don’t waste it.
My second tip is to establish a reputation for honesty and exceeding expectations. This is easy to say and hard to do.
It is rather annoying to see someone else list a property you desperately wanted at an over-inflated price, only to have them sell it for less than you recommended. They’ve “paid the liar”, but that is cold comfort to your bank account (and ego).
The answer is NOT to decide that you’ll take up lying too on the principle of “If you can’t beat ‘em, join ‘em”. Instead, you need to get better at explaining how pricing works and the evil consequences of overpricing (it takes much longer to sell, vendors lose the good buyers and end up selling for heaps less than they should). It is amazing how quickly the local community learns about an agent who IS trustworthy and reliable.
After a few good sales, you’ll start to be the one the serious sellers want AND they will believe you when you tell them the right price and marketing strategy for their property. It just keeps getting easier and easier. So don’t go over to the dark side.
My third tip is that you have to have your name and successes constantly in front of potential sellers.
People believe what they hear and read. The more it is reinforced, the more they believe it. Every property you list needs the best promotion to help it achieve the maximum price, and there is no reason you can’t capitalise on it both ethically and legally (People who believe otherwise are simply wrong, but that’s the topic of another article).
Always do a signboard, brochures and general advertising with your name and personal contact. A huge proportion of buyers either live locally or hear about a property from a local, so do the local letterbox drops with an invitation to inspect. When you’ve sold, follow up with another letterbox drop telling them how well it went and asking for more business. After all, you’ve now got qualified buyers ready and waiting. Do a newsletter with interesting and useful content on prices and real estate matters (not recipes) every two months without fail. Consistency is the key both in frequency and message.
There is plenty more I could add, but none of this is rocket science. The sad truth is that few salespeople have the determination to follow through with the things they know they should be doing for long enough to really succeed. They get busy and can’t be bothered doing the newsletters which slip back from two to three months to hardly ever (or never). They tell a little lie… just this once. They take the overpriced turkey and con themselves it’s going to sell (one day)…
Is that you? Why are you wasting your time?