A market appraisal is not a listing presentation, and if you make the mistake of treating it as such you will drive customers away. However, done properly the market appraisal leads directly into a listing and sale.
Often the first step to building a lasting relationship with a client is a market appraisal on their property, but you need to understand their concerns around selling their home. They have real fears as to where to relocate, whether the price they get for their home will be enough, renovations before they can sell, and possibly securing employment in a new place. You must be sensitive to the client’s concerns and advise them accordingly.
Visualize the client’s process as a traffic light: If they are at red, they can’t move. Orange, they could move with the right sale price. Green, they are comfortable with listing their home. Your approach is key in helping them move through those levels by answering their questions and helping them make decisions that lead them to that green light. Only then can you progress to your listing presentation.
The next level is the listing presentation where you discuss specifics around getting the best price for the home, what the client wants to see happen, what they are looking for in an agent and what you can do for them if they choose to work with you. You then help them determine the best method of sale, details of marketing and expectations for selling price, then finally confirm your fee.
The listing presentation happens after the client has made a decision to sell; the market appraisal is your opportunity to step the client towards making that decision. If you push the client too aggressively towards listing before they are ready you will damage the relationship and lose their business, so it is vital that you understand this sequence of events.
Occasionally you will meet a client who is ready to move right away, and you should be prepared to act on that, but wait for that signal to turn green – be certain the client is truly ready before pushing forward. This is all part of building your pipeline and you do that by nurturing relationships.
I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.
Thanks for your listing processes coaching tip. I’m knew to the industry, so I took a lot from that video. I stopped and started it a few times to get the process right now I can learn it and put it into action . Thanks again.
Thanks for the feedback Deanne!
Thank you for coaching tips. I have been in the situation of nurturing relationship, but by the time they were ready, they chose other agent to sell because of the fee. Life must go on. Keep building the pipe line.