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Lee Woodward, From Appraisal to Listing Commitment
An appraisal meeting that has gone well doesn’t necessarily end with the vendor committing to you. There are some techniques leading real estate agents use to ensure theirs is the name on the selling contract.
Robert Matheson from LJ Hooker Tuggeranong creates reasons to call an owner, such as giving them the name of a gardener to tidy up their lawn. This is a great way of following up after the event without asking for the business.
Mat Steinwede from McGrath Central Coast offers some of his tips:
Within 30 minutes of the appraisal meeting, he has a box of chocolates and a card delivered to the owners. The card says: “Thank you for taking the time to meet with me today. Be assured if given the opportunity to work with you, I will help you achieve an outstanding result, whilst keeping you fully informed every step of the way” If there is something the owner needs to do before listing the home, he calls with the name of a contact, such as a handyman, as soon as he leaves the house.
He calls within 24 hours to ask if any questions popped up overnight. It is a neutral call and often opens communication.
He offers to show them a property that suits their need, or puts them in touch with agents in other areas.
Good real estate agents use emotional clues to explain the process so the vendor feels they are making the right decision. People want transparency and to feel like they’re in good hands, but they also want an agent who will work hard for them, so it is important to send the proposal or any extra information they ask for while the emotion is still there.
Many vendors see several agents before they decide who they want to sell their property. Some haggle over commission rates and others question knowledge of the area, but ultimately it comes down to which agent the vendor thinks will get the best price for the house, Rodney Morley from Woodards TBM said. “When we’re in competition my real question to them is, ‘Do you think I can achieve a higher price than everybody else you’ve seen?’”
Mr Morley explained vendors decided to go with him based on his reputation, which includes his record – highest home and apartment sales in Toorak, Victoria - and his ability to extract a price over and above expectations. “We don’t sell the most homes, but I believe that we get the best results. And I can demonstrate that through my history,” he explained, saying agents won business on their service, consistency, honesty and integrity.
Lee Woodward from Real Estate Academy suggests agents secure a specific time and date to review the proposal with the owner before submission, rather than just sending it to them, and ask if there is anything specific they would like covered.
His 10 key elements to writing a great proposal are:
- Use a headline to grab attention using the expected benefit from your proposal
- Open by thanking them for the opportunity and enthusiastically state your interest in providing a solution to meet their business/personal needs
- Include a one- or two-sentence description demonstrating an understanding of their key needs, issues or situation and your solution and selling plan
- Provide relevant scheduling information, time frames or deadlines
- Outline the owner’s responsibilities to make the selling solution a success, such as having the house washed or painted or getting the gardens done
- Include investment details addressing the marketing plan price and performance fees
- Explain how your selling plan or solution will either save them money, make them money, or both, such as the most recent sales in the suburb with a property similar to theirs
- Advise what must happen next to go forward
- Thank them for the opportunity and tie the results to your solution and complete selling plan
- Leave the owners with a quote from a client who has experienced a favourable outcome with a similar property to theirs because of your selling plan and solution.
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