Want to get more listings? One of the best ways to increase your listings is to increase your closing ratio. Of course you could just go on more listing appointments and leave your closing ratio where it’s at but that’s a lot harder than just closing more of the appointments you go on.
Here are 5 ways to increase your closing ratio when conducting a listing presentation.
1. Don’t “Wing” It But Rather Use A Proven Real Estate Listing Presentation
Most Realtors use a CMA as their listing presentation. They compete over price to get a listing. It’s not unusual for a Realtor to name a higher price than they feel the home will sell for just to get the listing. That’s why I hate competing over price and basing my listing presentation around a CMA.
What has always worked best for me is to evaluate the seller’s motivation before going on a listing appointment and then using a proven listing presentation to get the listing.
The listing presentation that I like the best is one that presents a big problem like the housing market is still going down (at least it is where I am at in Florida); then solve that problem by showing how you sell homes in a rough housing market, make an offer and ask for the listing.
2. Be Passionate And Confident
Most people have a very short attention span. People get bored easily. If you are not excited or passionate about what you’re saying then your prospect won’t be either. Even if you are not passionate about your listing presentation, act as if you are and you will eventually become passionate about it.
People want to do business with someone whom they feel can get the job done. You must act confident and speak with authority to put confidence into your prospect. You can sell their home just as well as anyone else if not better, right? So act like it and your prospects will feel it and want to do business with you.
3. Watch For The Buying Signals
Every good salesperson should look for the signals that tell you the other person has been “sold” and that the time has come to ask for the signature. When you see the buying signal don’t fail to ask for the listing. Otherwise if you keep selling you could sell yourself right out of the listing.
Here are some buying signals to watch for during your listing presentation:
When the prospects ask you about…
- what commission you charge.
- how long your listing contract is.
- questions about how you promote your listings.
Or when the prospect says something like…
- “How quickly will agents start calling to show the home?”
- “How soon do I need to have my home in showing condition?”
- “Another agent said they would list my home for 5%.”
- “Another agent said they would take a 90 day listing.”
- “I’ll list with you if ________”
- “When will you put my home on the MLS?”
- “Will you do open houses?”
When the buying signal comes, get out your pen and listing contract and go for the close. Don’t continue talking about the sale or what you will do to sell the home. Talk about the listing terms, such as the listing price, length of the listing agreement, and commission.
4. Ask For The Listing
If you stumble around when the time comes to close you can easily lose the listing. You shouldn’t wait for the prospect to decide they want to list before you decide to close.
Here are some statements you can use to lead into the close or ask for the listing outright:
“When can I start?”
“When can I start promoting your home to my buyer list?”
“When can I tell my buyers and the other agents in my office about your home?”
“Can I take pictures of your home today?”
“Would it be okay if I start advertising your home today or should I wait until Monday?”
“Don’t you agree that my marketing plan will get your home sold fast for the best price?”
“Don’t you agree that with everything I’ve showed you about the housing market, the sooner I sell your home the more money you’ll get for it?”
5. Don’t Give Up When The Prospect Says “I have to think about it”
In most cases objections are a good thing. It means your prospect is interested in listing with you. One of the most common objections agents get hung up on during a listing presentation is “I want to think about it”.
If you have already answered most of your prospects’ questions and they just seem to be stalling then get them to commit. Find out what their main objection or concern is by saying something like “Is there anything else holding you back from making this important decision?”
If they tell you there’s nothing else holding them back, then ask them “why?” they have to think about it? You could say something like “Joe, most of the time when a home seller tells me they have to think about it there’s something I have failed to explain well enough in order for them to make a decision. So what did I miss and what is it that you have to think more about?” Once you have said this wait for their answer. Do NOT talk until they have come up with a reason why they have to think about it…even if there is a silence for thirty seconds or more.
Do your best to overcome all of their objections for waiting and thinking more about the decision. If they come up with a lame excuse to stall like “I never make big decisions like this until I have slept on it” then tell them that you respect that and say something like “I respect that. Don’t you feel that I can sell your home?” when they answer yes then go for the close again and say something like“then put me to work today and let me start marketing your home immediately”.
While you say this put the listing contract in front of your prospect and put your pen in their hand while you look them confidently in the eyes. I know this may sound like high pressure sales or even a bit cheesy but you don’t get paid just to visit their home, right? You get paid to close.