Thursday, February 12, 2015

How to Communicate with Your Seller Client

What is a Seller? Someone who is sufficiently motivated to go through the challenges of marketing their home in order to make a move…

We all have heard the term “you have to list to last”… Knowing how to communicate with your seller clients will make the job of getting…and keeping…those listings a lot easier!

Managing expectations from day one will help to create an air of control and professionalism between you and the client…

How to Manage Expectations

  • The Sellers Expectations of you
Make sure they understand how you conduct your business, how often and by which methods you will be communicating with them.

  • The Sellers Expectations of Buyers
Help them understand the buyers mindsets, and how they may receive offers below asking price…and that some buyers may be unreasonable when it comes to negotiations.

  • The Sellers Expectations of others involved in the transaction
Buyers Agents, Inspectors, Lenders, Attorneys, and other service providers may not always be 100%... Coach them to prepare for the worse but hope for the best.

  • Your expectations of the Seller
Stay in control of the entire transaction from list to close…let them know what you expect of them and the things that will help them get their home sold quickly and for the most money.

Downsides of working with a Seller

  • There is pressure to perform.
  • Relational friction during the listing.
  • Price reduction friction.
  • Emotional attachment to the property.

Upsides to working with a Seller

  • The best way to leverage your real estate business….(”List to Last”)
  • Listings work for you even when you are not not…like when on vacation!
  • Other agents work to sell your listing for you.
  • Listings attract buyers.
  • Establishes a presence to obtain more listings (success breeds more business).

There are 3 questions almost every seller will have …

1) Can I trust you? 
2) What do you do that other agents don’t…or won’t? 
3) What will you do to get my home sold? 
Answer these questions before they ask and impress them with your answers.

The Seller Client Qualifier questions you ask:

  • How did you hear about me?
  • Why are you moving?
  • Where do you want to move?
  • Have you ever sold a home before?
  • How was that experience?  What did you like and dislike about your last listing agent?
  • What is your mortgage balance? Is there a 2nd or equity line? Are all payments current?
  • How soon do you want me to begin marketing your home?
  • What are your biggest fears or concerns regarding selling your home?
  • Are there any obstacles preventing you from selling I should be aware of?

Pay attention to the details in the answers…because the “real” truth is in the details

Provide a Detailed Home Marketing Plan

  • Full Market analysis
  • Property enhancement checklist
  • Comprehensive Marketing plan
  • When and how you will communicate with them for feedback, pricing etc.
  • Educate to the process of contract to close
  • Ask for referrals
  • Being prepared for anything is the only way to ensure success…
  • People Learn Best from “Visual Effects” …use them
  • Use Seller Client Qualifier to discover Seller goals and motivations.
  • Use a Salability Checklist.
  • Remember your job is to?   To Test The Market….
  • What do you and your company have to Offer? (Value Proposition?) 
  • Why are we better…remember You most likely are competing!
      ·         Constantly measure the Seller for waning motivation.

 Remember Silence is deadly when it comes to communicating with your Seller Clients!
Eddie Brown