Want to have instant credibility with Sellers? Want to be referred to everybody your seller knows? Want your listing appointment to be in less than 30 minutes AND they actually take your Pricing Advice? It’s simple, sell all your listings in 3 days or less and for 102% average LP/SP.
Right now, you might be thinking “well the market average is 50 days so anything less than that is good” or it might be “pshhh, I do that already (and if you truly do, you don’t have to read this blog), or, OR it might even be the mistake of thinking “my seller doesn’t even want to sell in three days.” What is absolutely crazy to me as a real estate coach, is that anyone would think that! If that is the truth, then why did you take the listing? So you can prove you cannot sell homes? I have personally moved 10 times in my 27 years and I am pretty sure when I decided to move, I needed to move; and in my 7 years of real estate if I listed a house, its because they needed to move right then/now.
Okay, moving on to HOW you can do this. Selling homes in less than 3 days; let me clarify something, I have only ever got a listing agreement signed and physically ended up at the closing table about 4 times (cash deals); so, when I say “sell” it is commonly understood that means get it under contract with a qualified buyer. I can honestly say out of my 200+ listings only 1 didn’t go under contract that quickly. I was very clear that was my job and sellers loved it.
Here are the 6 steps to follow to start you down this path:
- 1. Know How to Look at the Market Correctly: Meaning don’t just think running a quick CMA does the trick. Also, don’t already go in wanting to make sure the Seller is going to love hearing the numbers you are showing. Both will get you into trouble. First, know the type of market you’re in Buyer or Seller. It’s not rocket science yet agents make this mistake all the time. Now to be able to figure out who the competition is and what will make yours the “Best Value” for the moment. Remember the price a buyer is willing to pay is how the market is made, not an appraisal, not a sold, and most definitely not a Seller or even a Realtor.
2. Know Your Contract FULLY: We aren’t attorneys’ and be thankful for that because they paid a lot of money and time learning how to write contracts when we get to write them for $1,000 and 30 days of our time (getting licensed). All we have to do is know what they say and how to fill in blanks. It is not that hard; yet 90% of agents don’t even know what each paragraph says or means OR WORSE, how to fill them out. Learn to read it upside down/with your eyes closed! You look WAY smarter and professional and it is one of the few reasons why you’re getting paid.
3. Pre-Qualify Your Sellers Properly: This step takes place prior to going on the listing appointment. There are 3 goals for this conversation; First, to truly find out if they are willing to do what it takes to get their home sold in 30 days or less and second, to find out what is their “bottom line price”. Lastly, to confirm or cancel the appointment based on the answers to the questions 1 & 2. I refuse to lie to my sellers, what I mean by that is if their bottom price is $300,000 or they will not sell and the market won’t bare that, then I will not go on that appointment, NO IF’s AND’s or BUT’s. (For a copy of my Script email me at firstname.lastname@example.org)
4. Price to Create an Auction Like Effect: Like I referenced in step 1, know the market to where your listing shows the most value and with that you need to strategically price below market, only really 5% is necessary, to get the most people to notice your Listing. The goal is to get the most people wanting to look at it the weekend it goes live. Know how to explain this effectively to your seller and once you do it a few times your results will allow you to get them to sign no problem.
5. Have a Coming Soon Prospecting/Marketing Plan: This is highly missed, yet oh so important. This is the #1 time that you have something that no one else has; the listing. Once it goes live now every other realtor and people on Zillow have the house too. Put a Coming Soon sign out, door knock, email out to your database, call past open house attendees, call renters that might be a good fit, DO IT! Plus, plan an open house for that weekend, Saturday or Sunday.
6. List on a Thursday night and watch the magic happen: Alright, you have made it this far… most traffic for a listing happens on a weekend, it’s a fact; so, catch them when its hot and will be the most active for the public. Also note that no decision will be made until after Sunday at 5pm so that buyers aren’t trying to get you to respond before all offers come in.
That’s it. Follow those steps, perfect them, it will work. I’ve done it in more than one state, I’ve watched agents that I have coached do it and it works! Remember, doing only 1 of the steps may or may not give you the full results.