Listing Presentation Framework + 35 Must ask Questions
Are you a new agent who is nervous about their first listing appointment? Don't worry; Social Southern Creative has you covered. We have provided the exact framework for a successful listing appointment.
I. Home Walkthrough- This is great to start with; it breaks the ice and allows the homeowner to talk freely as they move about the home. Tell the homeowner you like to start with the tour before you sit down and dive into the details.... This will make sense once you step foot in the home, it gives you something "to do" rather than awkwardly staring at each other.
A. Take a tour of the property to assess its features and condition. Note any damaged, broken, or questionable areas.
B. Make notes of any unique selling points or areas that may need improvement.(Take notes, Especially if you are new and your mind is going a million miles per hour)
II. Connect and Introduction- This is where the magic happens. Don't rush. Ask where they would like you to sit so you can further discuss.
A. Begin by introducing yourself and your Brokerage. If you don't want to let them know you are brand spanking new, focus heavily on the strength of your Brokerage. Ride the wave of your Brokerage success.
B. Engage in friendly conversation to establish rapport with the homeowner. Find a common ground. Take your time and find connection or commonality. This could be what ultimately lands you the listing.
III. Information Gathering- Utilize the 35 questions below. If you know the answer, do not repeat the questions. Be curious and authentic. This portion is vital, again don't rush. Gather as much information as possible. Let them talk. People love to talk about themselves, let them fulfill the desire
A. Ask open-ended questions to understand the homeowner's motivation for selling
B. Inquire about specific details regarding the property (e.g., square footage, recent upgrades)
C. Obtain information about any known issues or concerns the homeowner may have
IV. Comparative Market Analysis (CMA)- Trusting the numbers can be the most challenging part for a new agent. Have everything printed, and even add notes if you need too. The notes will not indicate you're new; they will suggest that you are thorough.
A. Present a thorough analysis of recent sales, current listings, and average days on the market in the area. Give an "Aerial" view of the current real estate market. Trust the facts. This is where you will typically hear a seller say, "My neighbor said, CNN said, Back in 1999 when I sold." Refer back to the data. Listen to the seller's concerns, but keep control of the narrative by referring solely to the current factual market conditions. Spend a few extra moments on "Days on market," most sellers have a selling timeline in their head. Showing them realistic day on market vs. overpriced listing may help you convince the seller to list at market value.
B. Showcase comparable properties to help determine an appropriate listing price. Take your time showing active listings. Show them their direct competition. Also, print every listing within their neighborhood, even if the homes are vastly different. Clients will inevitably ask about the listing closest to them.
C.- Take the time to go over pending listings, highlight pricing and days on market. The two are typically a direct correlation of each other.
D. Highlight market trends and provide supporting data to justify the price estimation
V. Price Home-
A. Evaluate the gathered information.
Now, ask them: What price are you thinking of? Remember you don't set the price, and neither should they, the market is the driving factor of setting the price. If the seller suggest listing to high, refer back to your CMA.
B. Explain the rationale behind the suggested price and address any potential objections
"Let the sellers know when a home is priced over the suggested comps, you would like to implement Red Line triggers"
If the seller is adamant about listing at a high price, and you still want to take on the listing (that's a blog for another day). Let the sellers know when a home is priced over the suggested comps, you would like to implement Red Line triggers, which are a set of triggers that will cause a price reduction.
Trigger # 1 : 10 days, no showings
Trigger #2- 14 days no offer
Trigger #3- 30 days no contract
Trigger #4- Feedback from 3 or more agents that they listing is overpriced.
*Set the triggers according to your current market conditions.
VI. Net Sheet
A. Prepare a comprehensive net sheet that outlines the estimated expenses and proceeds from the sale
B. Include details like agent commission, closing costs, and potential mortgage payoffs (you may not have this information prior, and that's ok). If you have a relationship with a title company or Real Estate attorney, they will be a great asset in helping you determine these costs.
VII. Walkthrough the Selling Process
A. Present an overview of the selling process, step by step:
Sign listing agreement
Have sellers disclosure signed if required
Prepare home, make any suggested repairs, verify payoff
Have home photographed
List Home, add to MLS and all pertinent sites
Explain how the home inspection will work after the signed contract
Ask if sellers have a survey on file
Discuss closing date and final walk-through process
Additional items: Closing Title agency, Dot-loop for electronic signatures, sellers' responsibilities, etc.
B. Explain marketing strategies, including online and offline advertising
C. Discuss showings, open houses, and the negotiation process
D. Address any questions or concerns the homeowner may have
VIII. Final Questions
A. Encourage the homeowner to ask any remaining questions or seek further clarification
B. Provide additional information about your services and expertise as a real estate agent
IX. Closing
A. Summarize the key points discussed during the presentation
B. Let the sellers know when they can expect a follow-up from you.
C. Thank the sellers and let them know your commitment to offering them exceptional service.
Remember to tailor the listing presentation framework to your specific style.
Bonus Content:
35 Must ask Questions for your listing appointment:
1 Are you familiar with cost associated with selling a home?
2 How motivated are you to sell your home?:
3 What’s your motivation for selling?
4 If listed previously: What happened previously you want to avoid?
5 If listed previously: Why do you think it didn’t sell?
6 What are you looking for in a Real Estate agent?
7 When do you plan to make your decision regarding listing?
8 Are there any current issues with the house that need to be addressed?
9 If you were to put your home on the market, in an ideal world what would that l look like for you?
10 Is anyone else involved in the decision making?
11 If you were to buy this house again today, what would you change about it?
12 What is your preferred method of communication?
13 Are there any particular marketing strategies such as listing on Social Media etc. that you are against?
14 Would you consider making any repairs or improvements to increase the property’s value?
15 What is your level of flexibility in terms of negotiating closing dates?
16 How frequently would you like to receive updates on the selling process?
17 How familiar are you with the paperwork and legal requirements involved in selling a property?
18 Have you purchased a new property?
19 If moving out of town, Do you need help finding a new agent in the area you are moving?
20 What are the top 3 qualities you are looking for when hiring someone to represent you in your Real Estate Transactions?
21 What would happen if your home doesn’t sell?
22 Have you sold a home before? IF so, what did you like about the agent that represented you?
23 How soon would you like to list?
24 Do you owe anything on the home?
25 Have you had the property appraised recently?
26 Have you had any previous inquiries about the property?
27 Does the home have any easements?
28 Are there any specific contingencies or conditions that you would like to include in the listing agreement?
29 What is your main goal of this appointment?
30 Are you familiar with my Brokerage?
31 Do you have a current survey on the property?
32 Were there any challenges when you purchased the home?
33 How old is the home?
34 What do you like most about the area/neighborhood?
35 Did anyone refer you to me?
Still feel you need more help? No worries, one of our consultation services may be the perfect fit for you. Learn more here
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