When doing a Listing Presentation, it is very important that we show our Value. One of the best ways to do this is by including our stats. By including our stats, it’s like giving a report card to the Vendor of how we perform in Real Estate.
Most agents provide a marketing plan to the seller, but rarely include their current stats. Including your sales stats can be the big differentiating factor that gets you the listing over another REALTOR®.
Here are the stats and how to provide them…
1. The first stat you want to include in any Listing Presentation, is your List to Sell ratio. What this stat shows, is the amount of homes you list every year vs the amount that actually sell and not expire. An example of this would be if you had 12 listings last year and 11 sold, you would have a 91.6% List to Sell Ratio.
Clearly this is a very important stat, but what you need to make sure is that you PRICE THE HOME PROPERLY. Letting the seller talk you into an over priced listing will increase the chance of the home not selling. Also, not getting price reductions quickly will also waste you best selling time. If you price the home well, at fair market value, the first 3 weeks are when you will have the most showings and the highest chance of getting an offer.
If you are way over priced at this time, you really reduce you your chance to get an offer. Now when Buyers make an offer after a month, they are wondering what’s wrong with the home and will likely put in a low offer. Don’t make this mistake, be strong and get the right price.
2. The second stat you should include is Percentage of Sold Price. This stat is critical for showing your value as well. % of sold price is how close to asking price do you sell your clients homes for. An example of this would be, if you have a home listed at $300,000 and you sell it for $296,000. Your % of sold price is 98.6%.
If you negotiate well for your clients and have a high percentage, this can go a long way to showing your the agent for the job! By adding up all your percentages on all the homes you sold last year you can work out your average.
3. The next stat to be included is the number of transactions you did last year. Include all of you ends that you did. Remember that if you represented the Buyer and Seller on one transaction, then that counts as 2.
4. The final stat you want to include is D.O.M. or Days on market. This represents how long it takes for you to sell your listings. Obviously the lower the number the better. This gives the seller an idea of how long they may be inconvenienced by having their home in showing condition at all times. If the number is low it also shows your competence in marketing and attracting offers by getting the home sold faster.
Now that you have these stats, you want to include them in your listing presentation in a fashion like I show below.
As you can see I am comparing my stats to the Average of all Agents in my area or on my local real estate board. It is very likely that you stats will be much better than the average which really helps you with your Value Proposition.
Let’s look at some hypothetical examples of this…
Days on Market If my average Days on Market stats for last year comes in at 40 days, but the board average is 50, then you can explain to your Client that you get homes sold much faster with far less inconvenience by up to 10 days. Inform them that once you have a firm offer, there will be no more keeping the home tidy at all times and they can use those 10 extra days to start packing.
% of Listings Sold VS % of Board Listings Sold As I mentioned to you earlier in this post, if you sold 11 of 12 listings last year, you are running at a 91.6% selling ratio. Typically the board average will likely come in anywhere from 50-70%. Now you ask your clients, do they want an over 90% chance to sell their home or are they happy with a 50% chance to sell their home? This plays very well into their motivation to move.
% of Sold Price VS % of Sold Price for the Board Again by listing your % vs the board numbers here, you can really demonstrate your value to them in dollars in their pocket. Let’s say for example you are selling a home worth $300,000 and your average last year was 98.6% of list price. So your sellers can expect that you will sell this home for around $295,800.
When you compare this to the board average which will likely be around 95% (which would sell for $285,000). You can tell your clients that you as their REALTOR® will likely earn them over $10,000 more on their sale than if they went with another Agent. This is a very powerful value proposition for them to choose you and use your services.
Average Transactions VS Average Transactions for the Board Finally, this stat will show your competence as a Professional Sales person. If you are doing many more transactions then the average board member you can really show your ability to get their home sold. A client will be more confident with you and realize that they have chosen the best Agent for the job!
Some final thoughts…
Clearly I have shown a great way to market yourself well in a Listing Presentation. This will show beyond a shadow of a doubt that you can clearly get their home sold.
Just remember this technique will only work if your stats are better than the average board member. You wont want to use this technique if your stats are not up to par. If your stats don’t paint a flattering picture for you as an Agent, then use the technique below I suggest for newer agents.
For Newer Agents Obviously if you are new to the sales force you don’t have the stats behind you at this time. What you can do is use your company stats or even your brand stats for your area. If you are new, but are working for a great company that has amazing market share for you area then your company stats will work well for you. Ask your manager to help you put together your numbers for your company and you can leverage those when sitting down with a future client.
I really hope this technique helps you out on your listing presentations. I have found it to be an amazing technique for both myself and for many of my agents. Let me know if you have other statistics that you use for your area to show you are the agent for the job!
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