One problem with most real estate sales training is that it teaches real estate sales professionals to estimate property values based on “comps”. These “comps” or comparable properties are ones that sold within the past year or two and were similar homes in similar neighborhoods. This system has a fundamental flaw.
The true competition for a seller’s home isn’t what sold last year, it’s what is available for sale right now. The properties for sale right now are what the buyers will be comparing your listing to.
You can separate yourself from the others trying to get a listing and get the listing at a fair price by recognizing this fact. Tell the potential vendors that one of the advantages of working with you is that you will help them set a good price for their property and that you will stick with it. You won’t be trying to get them to lower the price afterward. Ask them to give you one day of their time and you will use it to help them get the absolute best price for their property.
Some real estate professionals think that what I am about to suggest is a lot of work and it is. It is true that you may not get the listing, but if you are willing to invest a day to get the listing, this technique will be a big factor in the property owner choosing you to represent them.
Make a list of other properties that are for sale now that are comparable properties to the listing you want to sign. In other words, make a list of the other properties a buyer would want to see if they were buying your potential client’s property. Make appointments and take your clients out to see these properties. Have everyone make notes as to what they liked and didn’t like and as to how their property compares to the properties you show them.
This seeing competitive properties “in the flesh” with the eyes of the buyer who will be looking at their property usually helps potential vendors to set a more realistic value for their listing. Best of all, it shows them that you are different, that you are honest, that you are involving them in the sale of their property.
Give this technique a try. Don’t stick to the same old “comps”. Look different, look honest, look like a go getter, and you will be the obvious choice for the listing.
