YPN Breakfast: March 2019 Listing Advice Panel | Chicago Association of REALTORS®

On March 27, 2019, we hosted our monthly YPN Breakfast. Here, we got the listing advice from some of the best in the business. Watch, listen and read below to learn the ins and outs of listing a property for your client. You can check out photos from the event on the YPN Facebook!

This month’s panelists included:

Listen to What We Learned:

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Watch Quick Tips from Our Panelists:

 

Read Key Takeaways:

GET TO KNOW YOUR CLIENT

“You want to know who’s calling you,” Brad said. During initial conversations, REALTORS® should be intentional about uncovering the motivations of the client who’s listing. Why do they want to sell their homes? Knowing this “will give you insight on how to approach them,” he added.

Also, do this for your own peace of mind. As a professional, it can be easy to get caught up in listing price, but for a lot of clients, money isn’t the motivation. Jennifer said finding this out early makes the rest of the process smoother.

Clients’ needs also differ by generation. Brad said millenials, for example, don’t want to negotiate. Jennifer added some older clients may need help with staging their home.

BE INTENTIONAL ABOUT YOUR MARKETING

Each listing is special and unique, and your marketing plan should reflect that. First, recognize that there’s no set dollar amount that you need to spend on marketing a listing. Your budget will reflect your buyers expectations, Brad said. This is why those initial conversations are so important.

Next, make sure you attend the photoshoots,  Jennifer suggested. Since you’re the expert, you’ll want to be sure you’re there to help the photographer capture the selling features of the home. Also, think about messaging. Jennifer warned against just providing a list;  your choice of words and the photos should tell a story.

Brad also recommended adding public relations into the mix. If you need help, tap a real estate writer for some assistance.

Check out CAR’s marketing resources as you develop your marketing plans.

CLIENTS WANT ANSWERS – NOW.

“People want immediate responses. With the whole Amazon culture, people’s expectations have absolutely changed,” Jennifer affirmed. “People expect immediate responses – not just at your first call, but throughout your relationship with them.”

Brad keeps his clients posted by offering immediate feedback, such as texting them as he’s walking out the door at the end of the listing appointment. Another tip Brad offered was socratic-questioning. Help clients arrive at the answers by asking questions. Book Alert: Socratic Selling.

RESEARCH MATTERS.

“It’s much better to show people and tell people a story,” Kevin said. The best way to tell this story is to have the facts and figures to support your advice.

When going into a listing appointment, be prepared with reports from the MLS and other sources about homes sales within your client’s neighborhood. Clients often think their house should be sold for the same price or as quickly as another home on their street, without knowledge of how long their neighbor’s place was on the market or why the other home was listed higher in the first place.

Brad always falls back on an appraiser to help clients understand why you’re making certain recommendations about the listing that differ from what they had in mind.

CLIENTS WANT HONESTY.

You were hired because you’re the real estate expert. For that reason, don’t shy away from tough conversations that ultimately help. Stay ready and willing to have tough conversations with your clients – whether it’s about price or staging, Jennifer reminds REALTORS® to be confident in their own market expertise and generous with their thoughts and ideas. Clearly state the goal you’re trying to achieve: selling their home.

NOT EVERY CLIENT IS FOR YOU – AND THAT’S OKAY.

While we’re all up for a challenge, sometimes a client who wants you is not the right fit. Jennifer and Brad agreed REALTORS® should trust their intuition. If a client seems like they’ll cause more stress for you than it’s worth, it’s okay to walk away.

Conversely, there will be instances when you want a client who chooses to go with another REALTOR®. The panelists advise that at all times, you remain confident, authentic and gracious. Later down the line, a client will remember how professionally you treated them and may return to give you their business or recommend you to a friend.

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