Losing a listing opportunity is never a 40-0 drubbing for top agents. It’s always close, more like 12-10. But it still burns. How do you come back from a painfully narrow loss?
Like any realtor, REB Top 100 Agent, Raine & Horne’s Ric Serrao, hates to lose a listing. However, on the occasions when he does, he tries to view it as a win, because the loss gives him an opportunity to learn more.
“I ask myself why I didn’t get it. Was it because I wasn’t the best on the day,” he told Tom Panos on Mr Panos’ Real Estate Gym series.
“Then I look to how can I improve my performance so that next time around I am the best on the day. You can’t go on about fees and this and that, but it’s probably because the vendor didn’t see me as the better agent, they didn’t connect with me on the day,” Mr Serrao said.
“I hate losing just like anybody else. But it gives you a chance to sit back and analyse why did you miss out on it.”
Mr Serrao said he lost two listings recently, both to well-known agents he respects and admires.
“Both great competitors and good people who know their stuff.”
Following his losses, he rang the vendors to find out why they chose not to list with his competitors.
“It was simple. On the day, their story was a better story than mine was,” Mr Serrao said.
“So, how can I now improve my story? What I realised is that in those conversations my perfect product, my knowledge, was not so perfect. There were two properties that I had forgotten about. My competitors knew about them and they were the better guys on the day.”
Mr Serrao said while his competitors were better on a specific day, it does not mean they are better agents.
“It simply means on the day with that relationship, with that connection, they were the better competitors.”