We’ve all been there. You spend countless amount of hours and money trying to advertise yourself, and after all that sacrifice, you get nothing.
Finally, after some time, or after a referral, you get an opportunity to meet with a quality lead for a listing presentation. This is a break you needed. After doing all the work for making a comparative market analysis, setting up your presentation and making a trip over to the clients home, you present all yourself and your services.
After all this, the topic of your commission comes up, and the client tries to negotiate with your commission, and may even use a competitor as an example of their fees being lower.
What do you do, lower your commission and at least get the client, or do you risk losing the client altogether?
The answer, of course, is letting the client make them feel that they CAN NOT sell their house without how. Here’s how you’re going to make that possible.
To begin with you, you’re going to have a SOLID listing presenting, filled with the full campaign details, including online and offline marketing.
When you arrive for the listing presentation, tour the home first, if possible and keep your perspective of that from a buyer’s point of view.
Take note of 3-5 simple things that can be changed or upgraded and the potential value it would add to the sale price.
Once the tour is over, which should end at the kitchen table, take control of the conversation. This can be achieved by setting out agenda, setting aside a few minutes per each topic and moving on to the next topic.
Next, you’re going to introduce yourself, both as a professional and personal. Get to know your clients and share something you have in common. This can be if you’re married, have children around the same age, or a family pet etc. It quickly builds rapport. During this time, include any achievements you have, such as the number of homes you have sold, any credentials you have, designations, certifications etc. It’s hard to ask a certified specialist to lower their commission.
During your listing presentation, mirror your client’s tone and body language. For example, if they are leaning forward, you should also lean forward, if they are speaking slower, match your speed to theirs. You want to be sure that you do this subtly, though, so it’s obvious.
Next going through each step in your listing presentation, by showing them your strategy. Each strategy should use the same formula:
You should do this for every value proposition you are offering, which can include action items such as open houses, just listed flyers, online marketing, staging, professional photography and more. This should all be included in your listing real estate agent licence presentation.
Note: If you’re looking for a premade ready to go listing presentation, which includes ALL the selling strategies, you can download the listing presentation for free with your free trial – click here for the link.
Once you have set out your campaign strategies, you’re going to get to pricing the home. This is where your comparative analysis comes in, showing the prices recently sold properties in the neighbourhood similar to their home as PROOF. Clients will always want to maximise how much they receive for their home, as they should. So you need to give as much proof as possible to eliminate room for any doubt.
Now comes time to talk about the commission. YOU should bring up the topic of your commission, not the client. You can also mention that a listing presentation is an opportunity for you and the client to interview each other, not just the client interviewing you and other agents.
Make it clear that your marketing efforts are included in the price (this may differ depending on how much you will need to spend on staging), and you’re not charging more.
If they still bring up the topic of lowering your commission, show your client the NET money they earn by utilizing your strategy and netting more money, despite paying the standard commission. It all comes down to the bottom line, and this is what they need to keep in mind.
They need to focus on what they are receiving/netting vs what they are saving by cutting your commission. The route to netting more money is using your strategies now cutting down on commission.
If the marketing campaign is executed correctly, you are showing so much VALUE that the client will undoubtedly be able to understand why you are the only choice for their best interest.
Remember you can get the full marketing strategy with your free trial, right away. While you’re there, check out the Certified Seller Designation, it’s one of 20 real estate courses that will give you the EXACT walkthrough for winning more listings.
Get on the free trial by clicking here .