Whether you are an experienced or a newly established real estate agent, everyone is bound to make some or other mistake while real estate listing presentation. Due to this, the seller may not offer you the listing of their property. This article lists out some common mistakes made while real estate listing presentations and how can you avoid them.
Here are a few common real estate listing mistakes made by real estate agents.
No Knowledge about the Seller
When you go for an interview you do a bit of research about the company and prepare yourself well. Similarly, you shall also try to know a bit about the seller before meeting them for the listing presentation. We are not telling you to undertake a hardcore investigation of the seller.
But you can go through their social media accounts and LinkedIn profiles. Try to know about their work history or the type of business they handle. This will help you in building rapport with the seller and handle objections in a better way.
Pitching to the Wrong Person
At times it happens that you may go to the property owner’s house and start giving your presentation. But later on, you realize that he/she is not the right person or not the decision maker. You shall avoid such silly mistakes. Before giving your presentation make sure you are talking to the right person.
You can make sure that whether you are talking to the right person or not by asking them property-related questions. This will directly signal you whether you are talking to the right person or not.
Unable to Personalize the Listing Presentation
Written scripts may work in movies and plays, but they certainly won’t do any magic in real estate listing presentations. Each homeowner is different from the other. You can’t present the same presentation to every seller.
You need to get details about the seller’s local market, the price of recent property sold in their area etc. Try to understand seller preferences and personalize the speech accordingly. You can explain to them how you sold property similar to theirs and this will help them rely on you.
Being too Promotional or Sales-Oriented
Different real estate agents have different styles to present real estate listings. But one thing that every real estate agent shall avoid is being too sales-oriented or sounding too promotional. It never means you shall not speak about yourself or your brand. But there has to be a way to do that.
The situation shall not be such that the seller may find you too much focused on sales and may end up the relation with you. You shall try to explain them as much as is required, not more, nor less.
Missing out on Your Sales and Business History
You shall always try to show your past sales record and your business history to the sellers. This will make the seller know how good you are in your business. You shall include in the presentation the overall business done by you in the past few months, the number of properties you have sold, how you got into the real estate business etc.
A seller can get this information online also but knowing this from you matter a lot. This gives them a clear picture of your capabilities.
Not Carrying all Paperwork with You
Just imagine that you have completed the presentation with the client. He is convinced and ready to hire you to sell their home. But you haven’t brought the paperwork with you. Till you get the paperwork done, there are chances that your client might have finalized the deal with someone else.
To avoid this mistake, whenever you go for a listing presentation, carry with you a bag full of all paperwork of contracts and agreements. So if the seller is convinced and wants to hire you, the process gets started immediately.
Boasting about Yourself
Majority of real estate agents are found making this mistake. While giving a listing presentation, they keep talking about their achievements and forget about the client and his home. This creates a wrong impression in the minds of sellers.
No one is stopping you to speak about yourself. You can talk about sales you closed and about your business. But you shall try to listen to the client and understand them also. While listening to them you may come across some important points which may be helpful in pitching.
Failure to Match with Home-Owner’s style
Each client is different from another. Some are quite fast in understanding while some take time to understand things. You need to understand the homeowner’s communication style.
You need to match their style and make them comfortable. This will help you to crack the deal. If they are happy to communicate with you then naturally they are going to hire you.
Practice How to handle Objections and Doubts
You may be good at giving a listing presentation but may get confused if any doubts are raised by the homeowner. You shall be ready to answer all doubts and objections raised by the client.
If you are not able to answer them then they may not rely on you. You shall prepare yourself to answer these objections. Try to practice this just like you practice the pitch.
Too Much Use of Visuals
Many times real estate agents make this mistake. They fill their presentation with too many visuals like pictures, graphs, charts etc. The homeowner may get too confused by watching too much of visual content in the presentation.
You shall try to limit your visuals in the presentation. You can include a few charts, your achievement numbers etc. . But don’t include too much.
Not Taking Follow-up
After completing the listing presentation, everything is not over. Some clients may take time to respond. They may have a few questions that they may want to ask you. It’s best to take follow up with the client after a few days of presentation.
You can also leave them with your contact details. If they have any doubts then they may ask you about the same and finalize you for their property sale.
Conclusion
This article has given you a brief about the common mistakes real estate agents make while giving a listing presentation. Try to analyze yourself and avoid these mistakes. This will help you increase your real estate business.
