McGrath’s Adrian Bo says many agents turn up to listings presentations with nothing more than high hopes and a long list of false expectations.
“These include that the seller will sign a legal document without reviewing it previously,” he told Tom Panos on Mr Panos’ Real Estate Gym series.
“Or make a decision about a complex marketing campaign on the spot and actually appoint them to sell their home within 60 to 90 minutes.”
Instead of putting all of his “eggs in one basket” and hoping magic will happen, Mr Bo prefers a three-phase approach to securing listings, and they all take place prior to the meeting.
1. The pre-listings telephone call
Mr Bo says the purpose of the call is primarily to secure the listing appointment. But he also uses it as an opportunity to position himself as the leading agent in the area.
“I ask them if they are a referral, and endorse myself as a high referral based agent.”
“And I tell them I’ll be sending some information in advance.”
2. The pre-listings questionnaire
Mr Bo says this goes out via email, within five minutes of the telephone conversation.
He says the questions cover general expectation on price to whether or not all of the title holders will be at the meeting.
3. The pre-listings information
Mr Bo then sends a detailed information pack to the seller.
“First thing I provide is two marketing options, including costs,” he says.
“I also provide a draft agency agreement, two marketing schedules, comparable recent sales, a general market and suburb analysis and some testimonials.”
Mr Bo says the impact of his three-phase approach might surprise a lot of people.
“Two out of 10 listing appointments I go to, [they] have already printed out the agency agreement, and they have filled it in and signed it.”